Report results. Our trader likes into of them. Thats ahead in the Earnings Exchange. But we are decidedly red on the day so far, taking a breather. Its been a nice drun. The dow down. The s p 500 down nearly one full percent. And the nasdaq composite, 15,959, really the laggard today, down about 1. 5 . A bright spot in the markets so far has been a not so bright spot for the median term, talking regional lenders. But a bounceback for names like coamerica. Citizens financial up 5 . Two of the better performing regional banks. And nycb, you can see there, its up as well on the day. Now, there is one honorable and maybe even more so Honorable Mention is a mega cap bank, jpmorgan base, the biggest lender in america, up about 1 . It hit a record intraday high in trading today, so if i was at a telestrator, i would draw a star next to that name. And speaking of record highs, bitcoin just did it. Surging past the 69,000 mark and setting a new record intraday high earliertoday, but we touched
An updated vaccine should be able by the fall, but the question is will enough people take it, kelly we were just talking about the return of Manhattan Office space. But lets get a check on the markets where the dow is up 39 points today, leading the way while the s p is down 11 or a quarter point. 45. 77. Nasdaq down a third of a percent and caterpillar is a big reason the dow is holding up. Adding more than 100 points after an earnings beat the shares are soaring 8 prts. More on those results in just a moment jetblue cutting outlook as demand for Domestic Travel is starting to soften thats an 8 drop for jblue in the bond market, weaker numbers. Jobs report on friday but the 10year popping today. The yield over 4 , the yield on the 30 year on its highest level since january. Well talk to Rick Santelli coming up. All right. Lets dive into Second Quarter results now from some of the big pharmaceutical names pfizer posting earnings at top wall street expectations, but the company did mis
Actually, yes. Yes if youre a Portfolio Manager who abandoned stocks when Interest Rates go up, which is what happened pretty viciously in the debt downgrade. The treasury cant be worth as much as before so stocks therefore cant be worth as much either as hundreds of billions of dollars change hands on the direction of bond yields when the yields go up, rates go higher people automatically selloff. Sell, sell, sell it didnt help a recession if the economy slows. Very hard to see a recession if the economy doesnt slow the stocks that hurt the worst are the highflyers. I want you to take cramer fav advanced microdevice tremendous growth in semiconductors for Artificial Intelligence it shot up six points in after hour trading we knew it was going to be a terrific day of trading the next day based of fundamentals. Then out of nowhere we got the fitch downgrade. Yeah if u. S. Treasuries slip to their double a plus rating, amd stock went being up 6 to being down 8 having interviewed the ceo
Mcmullen on persistent inflation and how the consumer is doing at the grocery store. Its a big deal for sure. Topping tape this morning is the focus on the fed and what youre seeing right now from markets is wait and see, Holding Pattern, if ive ever seen one. The s p is just about flat on the session and the nasdaq is outperforming, if you want to call it that, sarah. Its up about one quarter of 1 . Right now, weve got cnbc senior economics reporter Steve Liesman joining us right now steve, sarah and i talked about it this is very much about what the fed is going to say. Is there any surprise happening or is the market pretty much just baked in, that one quarter percentage point hike at this point . Actually, both of those are true the market has baked it in, but i think theres some possibility that the fed looks at the landscape, especially the landscape as tainted yesterday by the Regional Bank, the decline of Regional Bank stocks, and says, you know what, this is a problem here and
good to see you again. i m yasmin vossoughian. we ve got a lot to get to the sour. we have the cdc voting to recommend the covid vaccine for children under the age of five. if that means millions of kids now eligible to be vaccinated. then we ve got explicit testimony from the january 6th hearings this week. we have that special all last hour. highlighting the danger that the vice president was in. also startling information that ginni thomas s role in trying to overturn the 2020 election is in fact bigger than previously thought. the question now is, will she testify? and the former president, accusing the january 6th committee of selective, calling the committees evidence a complete and total lie, during a rambling 19 minutes at a conservative conference last night. and continuing to attack his former vice president. the election was perfect. and the democrats are sitting back, saying no where we re gonna impeach this guy. no. it s terrible. but mike was afraid of wha