And welcome to power lunch. Im melissa lee. Stocks keep surging. New records for the s p and nasdaq and the usual suspects keep hitting fresh new highs. Corning, electronic arts, nvi nvidia, the list goes on and on. On pace for its best day since march 3rd, snap has traded over 44 million shares today. That is more than double its 30day average volume. One of the key catalysts for had monday, the surge in the price of oil. Crude hitting nearly 50 a barrel. Lets get the latest from the y nyse floor and bob pisani. Reporter and thats the key. The market in the rotation. Lets put up the board. Whats been weak throughout the year is this energy, banks and retail. Whats leading today . Energy, banks, and retail. This is what i talk about this rotation. Consumer discretionary but theyre lagging today. Take a look at sectors in 2017. Yes, tech and Consumer Discretionary but, look, banks and energy have been laggards. Theyre leading. This is why the market keeps holding up near the top. Old st
This is nightly Business Report with Tyler Mathisen and sue herera. Historic highs. What a way to start the week. Stocks closed at records, but can the quiet rally last . Risk protection. How the biggest Ransomware Attack in history is demanding a product that you know exists. Staying put. Is outofcontrol competition for homes fueling the renovation boom . Those stories, and more, tonight on nightly Business Report for monday, may 15th. Good evening, everyone. Halfway through may and investors had a pretty good start to the w the s p 500 and the nasdaq closed at new highs, thanks to a rally in the price of oil that lifted energy shares. Technology stocks also helped out, and the result was a record close for two of the three broad major indexes we follow. Dow jones industrial average to 20,981. Nasdaq up 28 to a record, and the s p 500 gained 11, alltime high there as well. Volatility remains sort of suspiciously low. In fact, this is the 14th straight day the s p 500 has failed to mov
Leon harris has the latest on the investigation. Its a really crazy situation in new york. An 18yearold woman died and two dozen people were hurt when a wrongway driver slammed into a crowd of pedestrians on the sidewalk. These are live pictures from the scene. Police are telling us that Richard Rojas rammed into the lunch hour crowd just before noon. Investigators say he made a uturn and started speeding down the sidewalk for several blocks before crashing into a traffic pole. Right now, Officials Say they do not think this wreck is terrorrelated. According to Law Enforcement sources, rojas appeared to be under the influence of drugs or challenge and he has two prior dwi arrests on his record. In 2008, he was arrested in queens for drinking and driving and also in 2015, he was arrested in manhattan for drinking and as of now, four people are in Critical Condition in the hospital. The word is, they are expected to live. Thats some good news. Thank you, leon. Back here in our area, what
Defense secretary james mattis is expected to send nearly 4000 more troops there this summer. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. Im Alisa Parenti. This is bloomberg. Bloomberg technology, is next. Emily caroline im Caroline Hyde from london in for emily chang. This is bloomberg technology. Up, big blues for ibm. Revenue dropped for the 23rd straight quarter. We break down their losing streak as investors lose patience. Plus, the annual meeting of the minds as leaders in tech converge on colorado to share ideas on cybersecurity, ai, and the future of work. We are lives in aspen. Reruns that digital eyewear with a new focus. We get an upgrade to the google glass and how the corporate version resonates with users. First to our lead, it is a hit and a miss for ibm. While earnings for shares are dropping afterhours after the tech giant came out with revenues that fell short. Sales in the cloud platforms, as a key new ar
Defense secretary james mattis is expected to send nearly 4000 more troops there this summer. Global news 24 hours a day, powered by more than 2700 journalists and analysts in more than 120 countries. Im Alisa Parenti. This is bloomberg. Bloomberg technology, is next. Emily caroline im Caroline Hyde from london in for emily chang. This is bloomberg technology. Up, big blues for ibm. Revenue dropped for the 23rd straight quarter. We break down their losing streak as investors lose patience. Plus, the annual meeting of the minds as leaders in tech converge on colorado to share ideas on cybersecurity, ai, and the future of work. We are lives in aspen. Reruns that digital eyewear with a new focus. We get an upgrade to the google glass and how the corporate version resonates with users. First to our lead, it is a hit and a miss for ibm. While earnings for shares are dropping afterhours after the tech giant came out with revenues that fell short. Sales in the cloud platforms, as a key new ar