Its competitor, nikola the Airlines Holding up after Morgan Stanleys bullish call on the group. The analyst will join us kelly, first over to you major aver raages are hitting their lowest levels. Bob has a look at the stocks making the biggest move today. Bob, lets start with you. Were in a 40point trading range. Were about to break out on the upside i know this sounds crazy lets look at the sectors and whats moving. Were not getting a lot of help from technology. It rallied early yiier but hasnt been moving as forward were getting nice moves from the industrial and Health Care Stocks these stocks rallied earlier off of their lows. Apple was 119 earlier. Its not moving the market forward here in the middle of the afternoon. Still off of their lows. Same with microsoft, nvidia, lam and some of the work from home stocks they were lower earlier but not rallying dramatically. All of them down wayfair was briefly positive slack has turned positive. The stocks are all off their lows most of
Mike, this morning im zeroing in on enterprise, looking at zoro down 30 right now. What is interesting to me about these names is they both got a big bounce after sales force and workdays earnings reports but theyre giving that back today and then some. Investors seem to maybe be realizing that these names are tied more to overall Enterprise Spending it has not been great versus that sass exception that we saw. Im wondering what you think of what is happening in that space. First the rhinoceros horns at the end tell you something the hottest money, the ones that went the way up, the last spurpt is being taken out i think that this is happening in the context of what many of us have been saying. The market looks a little stretched. A little at the high end of its up trend it should cool off and it was pushed and pushed and pushed a bit higher in part because there has been a welling up of kind of momentum, speculative action, partially in the market some kind of an unwind going on now.
Market we have a great lineup of guests coming your way well speak exclusively with Morgan Stanley ceo james gorman. His take on the markets come back the read on the economy and the strength of the banks. Plus, you will hear from the ceos of macys, Signet Jewelers and brown foreman. Theyre joining us to discuss their path forward for their respective irz stroo respective industries. But lets begin with the Broader Market the rally, take the pause today following the rapid surge that pushed the s p 500 back into territory for the year if we close higher well get another record close for the tech hefin dechl. What you are watching . It does look that way, sarah. A recoil from the recent trends. The headline index is pulling back outside of the index. The majority of volume is to the down side. This is one day where the indices are understating the weakness they want to take a look at the one year really all the pullback meant is a little dip below 3200. It held there and bounced modestl
Chairman is stepping down early as the Company Continues to wrangle with tens of thousands of lawsuits of the wheat killa around town. Welcome to the Business Life from berlin i want to jones good to have you with us fears of an epidemic has investors on edge in asia where japanese markets continue to this sell off for the fed today running the nikkei was down more than 2 percent on fears the Olympic Games may be called off however in china there maybe is some cause for hope markets are up on news that the country is seeing fewer deaths from coronavirus and that as a central bank announced stimulus measures designed to offset the economic fallout from the virus. And more lets bring in our correspondent in taipei it suits. The epidemic seems to be under control inch high and has business returned to normal then. Well the governments figure would tell you that over 70 percent of the production has been restarted but those Big Companies Small Business reported that only 30 percent of them
Under the daily tally of new coronavirus cases is now bigger outside china where the outbreak began thats according to the World Health Organization emphasizing the global spread of the epidemic europe in particular has seen a spike in cases in the past days of the continents Top Health Official says panic must be avoided and a coordinated approach agreed as france recalled its a 2nd death and italy its 12th meanwhile that italian outbreak has spread further a man who visited the area where cases have been recorded returned to brazil becoming latin americas 1st diagnosis the highest death toll outside china has been in iran where 19 people have died the countrys president said there are no immediate plans to quarantine cities globally just over 81000 cases of crude a virus have now been discovered in 42 countries some american Officials Say its a case of when not if its declared a Global Pandemic iraq has announced drastic new measures to contain the spread of coronavirus banning all p