General just moments ago upping the charges against Derek Chauvin now to seconddegree murder. The question will the others be charged with aiding and abetting . Were still awaiting that. George floyds death, the nation aweakening to the role Corporate America will play when it comes to leveling the Playing Field for all of our citizens. All that and so much more on making money. Charles all right, folks, the stock market rebound continues as buying spreading to more sectors tied to economic growth. More over, there are so many positive signs. There is a steepening yield curve, weaker dollar. I want to get the read from gary kaltbaum, kaltbaum Capital Management president and Fox News Contributor, Wealth Management and phil orlando. The rally is looking impressive but the fundamentals under it, are Getting Better . For the last three weeks we talk about the fact, all three areas, 85 of the market left for dead was bottoming, and now theyre doing a stair step upward, led by financials, l
14 points. What is going on here . First of all, there are clear signs the lockdown is ending and the economy is expanding. Theres been a big jump in Mortgage Applications and a surprisingly small drop in private sector jobs in may. We are going to check the other indicators for you. They proiare pointing towards growth. June appears to be the turning point. As for urban unrest, look, its very hard to be positive when you see razor wire around saks fifth avenue in new york city. Overall, violence was down last night. Peaceful protesters were out in force and that, in my mind, is a very good thing. Green shoots, something positive this wednesday, june 3rd. Varney company is about to begin. Stuart i think the story of the morning has to be calm. Protesters turned out across the country last night, some defying curfew orders in major cities, new york and d. C. , but it was by and large a calm night. A welcome contrast to the past few nights of mayhem and looting. Now, the night was not fr
Markets. All i have to say is, what a risk on rally we are seeing. The mystic stocks are the big out performers. The russell is outperforming the s p 500 for five straight days. Lift up of 10g a basis points on the 10 year, the highest since march 19. I cannot remember the last time i saw a 90 basis point print on the 10year. Further weakening on the dollar, weaker for seven straight days, nine of the last 10. You wonder what that means for the fed Going Forward. Lets get perspective from kailey leinz. What do you take from this market rally . Kailey i want to start with technology. The nasdaq composite is set for a record close, as is the nasdaq 100. If we can see how that index has performed this year, it is like this a lot never have been. Now 2 above the record close in february. You can bank microsoft, amazon for those gains that we have seen. Positive by now 12. 5 on the year. It is not Just Technology outperforming. It is the more cyclical growth sectors that are leading the way
Tepper and Stanley Druckenmiller both say stocks are overvalued u. S. china tensions flaring again as the fbi warns that chinese hackers are targeting covid19 research firms. We have a big lineup of guests today to help break down this selloff including bill mill miller, david harrah, david ruinstein and Liz Ann Saunders from Charles Schwab. Down 550 points, down 620 moments ago. Weve got full Team Coverage of todays market downturn. Scott wapner, mike santoli, and Steve Liesman with us. That bearish call from apple when asked about Hedge Fund Manager Stanley Druckenmillers assessment that the risk reward in the market is, quote, maybe as bad as ive seen it in my career, heres what he said. Its definitely as of yesterday, now the market is down from yesterday, i would say that, you know, 99 was more overvalued than 2000 but, yeah, i would say its one of the most overvalued markets, maybe second most overvalued i seechb the market is pretty full but theres a lot of liquidity there. Its
Its a pool its in a cares about the anti china protest is in hong kong with these very measures its precisely that outreach from poland who suffer the most theyll no longer be able to travel visa preety the u. S. Potentially not even started that and it Companies Got cold feet and they say theres just too much uncertainty in hong kong im going to move my office elsewhere well thats fewer jobs and its also less Foreign Investment which puts of course hong kongs reputation as one of the best International Financial hubs in the wild 7 well that puts it in jeopardy and not a major point from friday speech the u. S. Will be a separate ties with the World Health Organization maybe not a massive surprise given the donald trump has consistently accused the w. H. O. Of being involved in a cover up with china. Chinese officials ignored their reporting obligations to the World Health Organization and pressured the World Health Organization to mislead the world when the virus was 1st discovered by