Today we found out whats wrong with the drugstores. Its not the maximum security of merchandise where you need to call the jailer to get a bar of soap. Its not the often downtrodden employees. No. Its amazon. On a day where the dow gained 36 points, up 0. 9 , i see amazon hitting an alltime high, putting it in rarefied air of the 2 trillion club. I see wall grgreens hitting a multiyear low of 12, down 22 today. After reporting an abysmal quarter, it was its worst day ever. Sell, sell, sell house of pain. We had our cnbc Investor Club meeting today, and we discussed the greatness of amazon, but i feel we gave it short shrift. Amazon is so phenomenal, it can destroy any industry it chooses to go after. Its the retail death star. We learned that amazon is planning to launch a Discount Store to go after the ultralow cost but often ultralow quality of temu and shein. Those have become the most powerful apparel makers in the woshld. Now that amazon is rolling out a similar discount story to
Bit of a bounce. Not much. Were not going down. Trend aint your friend. Its been a downside. Look, target, it was. Reporter 225. Right. So i mean, that obviously isnt good for the banks. I think the fundamental story still stands strong for many of the banks, but obviously, this is one of the pieces that theyd like to they would love if this thing started to move and we had a 26. I dont know that were going to see it, scott, but theyll survive and theyll do just fine even in the environment right now. Yeah, if you look, joe, in the pags month, venture down 5 . They are. How does the trend reverse if rates continue go down . As some suggest if that trend continues, the whole market is going to fall part. I respectfully disagree been its more how does it go back. Lets talk about bank of america. 17 in november, 25, 50 at its high point, somewhere around there, 23. 50 today. Folks are talking about the move in bank of america being over. The financials are trading at the upper end they do
Welcome to power lunch. Im melissa lee. Stocks right now are mixed actually all in the red right now. Amazon, though, hitting a new alltime high in todays session. Same for tesla, that stock trading above 300 a share for the first time ever. And take a look at gold hitting its highest level since february 27th. Tyler . Melissa, thanks very much. Im tyler mathisen. Glad you could join us on a rainy tuesday in new york. Here is what else is happening this hour. The u. S. Trade deficit falling in february as exports climbed to a twoyear high. Cleanup efforts under way from texas to the taerls after another stripping of severe storms ripped across the south. Five stormlegalitied deaths reported. And tony romo apparently hanging up his helmet and cleats for a microphone. Espn reports the cowboys quarterback will end his 14year nfl career and go into broadcasting. Michelle . Welcome to the business. Thanks, tyler. Im michelle carusocabrera. We have a lot to do today. We begin with a big head
Bargain. And the restock headline. The popular soldout toy about to hit a store near you. And good evening on this thanksgiving night, im tam llamas, in for david this evening. And we begin with the travel trouble looming, as millions of americans take to the roads and the skies to return home. Storms in the west like this one in utah kicking up through the weekend. A near salt lake city. And the dangerous conditions there causing a flat bed and a car to collide. Snowy runways at the airport in minnesota. That wintry weather in the center of the country moving east. The forecast in a moment, but first, abcs alex perez, starting us off in chicago. Reporter tonight, Mother Nature making a mess of the thanksgiving holiday. This is crazy. Reporter in the pacific northwest, the first of several systems now moving through. Which could make the trip back home for many a headache. Drive for conditions, otherwise, were going to end up in the ditch just like this gentle gentleman. Reporter alrea
Bargain. And the restock headline. The popular soldout toy about to hit a store near you. And good evening on this thanksgiving night, im tam llamas, in for david this evening. And we begin with the travel trouble looming, as millions of americans take to the roads and the skies to return home. Storms in the west like this one in utah kicking u a whiteknuckle ride on i80 near salt lake city. And the dangerous conditions there causing a flat bed and a car to collide. Snowy runways at the airport in minnesota. That wintry weather in the center of the country moving east. The forecast in a moment, but first, abcs alex perez, starting us off in chicago. Reporter tonight, Mother Nature making a mess of the thanksgiving holiday. This is crazy. Reporter in the pacific northwest, the first of several dumping up to three feet of snow by sunday in some areas. Which could make the trip back home for many a headache. Drive for conditions, otherwise, were going to end up in the ditch just like this