Infections heading towards 16 million. Hong kong says the situation is increasingly severe. Has extended the Wage Subsidy Program beyond september to protect the economy from fallout from coronavirus. Shery a quick check of how the markets are trading. We are seeing u. S. Futures kicking off unchanged. This after we saw u. S. Stocks rally amid encouraging vaccine news, this time from the university of oxford and astrazeneca. The s p 500 finished at the highest since february, turning positive for the year. Tech and discretionary stocks outperforming. The vaccine optimism sort of faded. We have a very Competitive Landscape that failed to impress. Risk was revived in the afternoon session following improved u. S. Infection numbers. California and arizona reporting a slow down infections. We still have that stayathome defense rate being back with strength. The underperformance from the russell 2000 very pronounced, while the nasdaq also finished at another record high. Take a look at what
This year. It has been on a tear, and we will, of course, continue and watch and see what the major indices do today we begin with twitter and that massive security hack pressuring that stock this morning. It is off the lows, though, up about 1. 5 that attack targeted some of the companys highest profile users including elon musk, former president barack obama, and others joiningi joining us now is robert hirsovek good morning. Good morning, everyone. They say it was a coordinated social engineering attack that successfully targeted some of our employees who had access to tools. What this said to me is this was a con more than it was a particularly sophisticated technical attack, and im reminded all of twitters employees are working from home. I mean is this the first red flag of working from home . Its the first one thats made so much media i can tell you from personal experience we do a lot of Cyber Security, manage a lot of corporations were seeing a growth in phishing like weve nev
The university of texas on the pandemic. Of then Michael Morris guggenheim securities. You can only go back in florida. Taking a more circumspect view of whether or not these parts should open. Earnings next week are going to be a big theme as well. A lot of the big tech names are going to be in focus. Lets talk about what is happening broadly in these markets. You mentioned the curve steepeners. The curve is flattening. There is pain in that trade. The u. S. 10year yield has come down. A tight rangein over the last month. S year, we saw the 10 year the range as than 60 basis points to 75 basis points. Equity markets have faded. Im struggling to see where the catalyst is coming from, which catalyst to focus on. How markets are going to progress from here. Lets get help with that question. Yields, theg bond curve flattening out. Equity markets are going nowhere in a hurry. We have a. We have virus. We have elections. Where are you focusing your attention . Thank you for having me. When
Nasdaq, we keep talking about this, up 4 on the week. Names thatl these have just done gang busters here. Up 10 on the day and you have lot of other names beaten down like the carnival cruises and some of those names. Really bounce back today. Up 8. 5 . Aluminum is big. Deflationarye forces that continue to hit this market and you really wonder if way for Market Participants search out companies with the strong cash and strong balance sheet. You have to think inflation comes as soon as some of that online. Omes you wonder when that demand comes online and how you turn around some of the disinflationary forces. Us Global Market strategist over there. The nextlook at earning season, which takes off on tuesday here in the u. S. Investors will be as forgiving as they were the previous earning season, given a little bit more clarity about how the economy is doing and the Health Pandemic is doing. Its a big week next week. Second quarter earning kick off next week. 22 over s p 500 companies
Caused billions of dollars worth of damage a break down all of this in a live report. Support is growing for a San Francisco man seen in a viral video being harassed by a woman riding black lives matter in front of this home on live with the details and that video coming up. President trump announcing that he will sign an executive order to address Police Reform. Youre watching kron 4 morning morning and thanks for waking up with us im darya folsom and im James Fletcher it is 08 00am here on this tuesday june 16th, lets start the hour with john trade we stand by the Weather Center good morning john good morning guys a nice day ahead of us but still on the breezy side you can see the Golden Gate Bridge and the camera sway in just a little bit here under that persistent breeze that were continuing to see out the golden gate as well as in some of our other coastal areas and up into the delta. You can remain windy into the afternoon to us as you drive into work or home from work. Theyre de