Good afternoon, glad you could be with us on hour one of power lunch. Im Tyler Mathisen the dow on track for its first fiveday winning streak of 2018 after that historic january. The dow, that index along with the s p on pace for the best weekly gains now best weekly gains since november of 2016. The nasdaq on track for its best weekly gain in nearly three and a half years now Cisco Systems rallying on its earnings beat, teva pharma soaring on news Warren Buffetts Berkshire Hathaway is going to take a stake there and trip advisor is higher. The company be buy back stock and gave an upbeat forecast. And for more on these markets, lets go down to the New York Stock Exchange Bertha Coombs is here today standing by. The dow trading above 25,000, the s p above 2700 the nasdaq recovered three quarters of the losses trading above 7200 the fiveday winning streak is putting these indices on pace for their best weekly gains in forever. Take a look at the mass in dnasq its up over 4. 5 , thats th
On cnbc. Im dominic chu. Im seema mody. What a big day it is. We had a massive reversal yesterday. All of a sudden its carrying through into today lets check the Global Markets this morning starting with the u. S. Futures picture were seeing quite a bit of green across the board right now the Dow Jones Industrial average will open up by 250 plus points the s p by 21. The nasdaq up by 56, 57 points lets check on the ten overtreasury note yield because it has been a very big battleground for many traders. Arguably one of the biggest driving forces behind the recent market volatility. Interest rates now, 2. 92 , multiyear highs for that longerterm u. S. Treasury note well see if that stays the game given todays other big inflation data coming out, the Producer Price index interesting that despite the rising inflation picture, stocks still ended higher we are higher premarket as well. Many asian markets are closed todayt for the chinese new year, japan did remain open. The japanese nikkei
Related charge but excluding items earnings still beat the street cisco looks to s s to repatria billion in overseas assets ubers ceo plans to expand the Ride Hailing Service beyond cars he says uber is to cars what amazon is to book stores he believes uber could be a marketplace for other forms of transportation, including public buses and bike sharing programs. I was with him in davos, he was sharing this idea that you would take an uber to a train, and then get off the train an then get on a plane an then get on the plane, get in a car, he would do the whole thing thats the idea. Uber eats, the leasing program, were those side shows to this idea that could you plug into the new york city mta Public Transportation system so if youre in an outer borough, the uber gets you, brings you to the subway, the subway takes you, you get off, maybe theres an uber pool that takes you to the office is this before or after flying cars . This would be before flying cars i think this is not complete
The opening 20 minutes or so from now we are positioned for a higher stock market at that 9 30 mark europe has been open for some time and over there it is also been largely a positive day so far. You can see germanys dax of course and france the best performer. The 10year note yield so much of a focus yesterday as it same close to the 2. 9 not sure we ever got there were above it now thousand. Yesterday we flowed 2. 89, 2. 915 and stocks dont see particularly concerned wti is down though, higher than it was this time yesterday this morning stocks are looking to extend their daily winning streak, five all three indexes gained more than 1 yesterday shrugging off the stronger than expected cpi after what was a sharp decline early in the session and inflation data out this morning shows Producer Prices rose. 4 in january. That was matching forecast now the core rate minus food and understand also up 4 . That was twice what many economists had been expecting. What a difference a day makes.
High for the day. We should not get too complacent. We have continued to see swings. If you look at the gains, they are pretty broadbased. Only energy is lower. That has been the Weakest Group throughout the day. Utilities recovering as we see a little bit of a back up and yields today. Tech shares also strongs. Also strong. If you take a look at the weekly performance, we are setting up for the best week for stocks overall in quite some time. For tech specifically, and the xlk, it could be the best week going back to 2011 with a 5 gain this week. That would be even bigger if you counted the rally which began last friday. Cisco is helping lead the technology gains. That company is trading at a 17year high. The company came up with revenue that rose for the first time in eight quarters. The forecast was also positive and the company said revenue in the current period will climb as much as 5 . We have seen other companies and related businesses also on the rise. On the call today, the ce