Tries to activate whats called a snapback mechanism hoping to reimpose all u. N. Sanctions against iran. Also ahead argentinas steps up efforts to find a Coronavirus Vaccine as the economy struggles on a long lockdown. Will be kicked off this news with a developing breaking story for you federal prosecutors in the United States in the last hour or so have arrested and charged a former senior white house strategist steve bannon he was one of President Trumps most influential advisors during the 2016 Election Campaign the Justice Department is accusing him of conspiracy to commit wire fraud it has to do with a Fundraising Campaign to support the building of Donald Trumps wall along the border between the u. S. And mexico live now to the heart of the story the white house and our correspondent there kimberly how kick him hi there so mr bannon what does this mean. Well what this means is that he could face along with his associates up to 20 years in prison these are not light indictments t
We ta retail sales were lower than expected autos adding to the pain with biggest names if the group or deck for earnings next week, well tell you which stocks could be set to take off later, it is apples epic battle both apple now and google kicking out fortnite out of their app stores well explain why they are doing it the fight it could spark and the crackdown on big tech that could be in the cards. Power lunch starts right now happy friday to you. Check out the transports out performing this week up 4 those moves are thanks to fedex and avis budget up double digits for the week with all the major averages up more than 50 from the march lows, its the question being heard around wall street is the market rebound getting too far ahead of the economic rebound. Were digging into the data. The stock market could recover its all time highs we went back to 1973 and looked at how stocks behaved. It takes 2. 7 years to get even this recovery probably will be measured in months the fed and co
Amy hollyfield is live in sonoma with more on these new restrictions. Reporter good morning. Look behind me at this sign, it needs to come down. It says but not anymore. Restaurant, winery, tasting rooms cant have customers inside any longer. Movie theaters and bars must close again. This just went into effect at midnight. County Officials Say they just cant have crowded bars right now as the number of coronavirus cases continues to rise. Were particularly talking to the young folks. They seem to feel invulnerable to what is happening around them. And this is not party land. We want to be safe as a community, we want you to be safe. Reporter county officials hope these new restrictions will motivate residents to do what they can to flatten the curve. They really need people to wear masks and socially distance so they can get the businesses open again. And these closures will be in place for the rest of the month, as of right now they are set to expire august 2. Amy hollyfield, abc 7 ne
Exchange right here on cnbc good morning, im dominic chu. Your stock of the morning, a name you probably all know and even use, amazon. Com climbing to a new record high of above 3,000 per share you can see here in the early trade, 3046 is the last trade for amazon were off about one third of 1 in the premarket. That is just one stock that you need to watch today. But in a bit well go over more. But we start with how you and your money and the Global Markets are setting their day up stock futures indicating with a should be a lower open at in stage right now. If the futures moves holds, the dow jones would be down about 247 and the nasdaq down about 40 but remember, we had strong gains in yesterdays session and that saw the dow jump over 450 points and the s p post its fifth straight positive session. And the nasdaqs run continues jumping more than 2 to hit another alltime high this has been a strong trade throughout the course of the year especially since the covid19 market lows that
Vaccinating people fast enough to stay ahead of the new variant, though it is getting better. When that briefing begins, we will bring it to you. There is also a lot going on Behind The Scenes right now on capitol hill. It is about to spill out into public view. The Republican Party trying to figure out what to do with itself in this posttrump era. Who carries the mantle . Who do they stand with . Liz cheney, a lifelong republican, member of House Leadership who voted her conscience and explained very cleary to impeach donald trump and facing blowback. Or do they stand with Marjorie Taylor greene who is on video and online pushing wild, unfounded and antisemitic Conspiracy Theories. Sources telling cnn she has not given any indication that she wants to correct, reject and apologize for that. House republicans met late into the night last night about Marjorie Taylor greene and their future. This afternoon House Republicans will gather once again. The most immediate question is, do repub