First to our lead another wild ride on wall street. This one with a good ending, stocks rallying the most since 2011. I want to get straight to matt miller in new york. Matt, when it comes to tech, the fab five all up. But talk to me about volume into his buying. If you look, for example, at the first six gainers, only exxon is a nontech name. All those you mentioned plus microsoft, apple, google, facebook, amazon. The buyers here were people who believe that we have put in a bottom, if they are not daytraders. With such incredible drop over the last seven days, we have seen the dow erase 2000 points. It takes a while to put in a bottom. Technicians will tell you after a drop like that over such a not period of time its necessarily fully in today but maybe this is the inflection point, and the buyers believe the u. S. Economy can withstand it, the chinese economy is stabilizing, and that commodity rises may have bottomed. Emily matt miller in new york, thanks so much. I want to talk ab
Renewed megacaps. Weakness in technology butt a dumper on the rally if financial shares which were hire following the results of the stress test we told you about last night. Today, the dow jones indus average fell 167 points to 21,287. It had been down more than 250 points midday. Nasdaq drod dropped 90 and s p 500 was off 21. Although the pullback may look concerning, it may want be as bad as it appears. Bob pisani explains. It was anything but a breezy summer day for the stock market. The dow plumets as much as 257 points before ending down 167 points. Largely weighed down by apple. But for the moment, this sunt look so much like the start of a broad eer sell off as a healthy rotation. Investors are moving over big tech names like microsoft and apple and google. Theres some reason for that. Bank stocks for example bounced the cap a tall plans of all 34 banks under review in the second round of the bank stress hasnt happen td since 2008. Theyre raising all of the dif depds. Chevron t
Good morning, everyone. This thursday in new york city. You are watching Bloomberg Television. I am Erik Schatzker. I am stepping in today for Stephanie Ruhle. See the resemblance . Time now for the new speed. Top business stories or around the world. Twitter. At cfoame to the company as and moved to coo in 2012. Retail sales rose. 3 of a percent in may, less than forecast. Still on the upside. Revised figures show april sales were much larger than first report. Is cocoo of bnp paribas stepping down in the midst of the investigation. He will leave at his own request. Askedp Bank Regulator that he be dismissed. Authorities want bnp paribas to pay as much as 10 billion to settle claims of illegal dealings with iraq and sudan. Big implication overseas. This could affect oil prices around the globe. Al qaeda has seized control of the second largest city in moving closer to baghdad i the day. Here is how this is playing out in the oil markets. You can see the response. In a moment you will
Temperatures optimistic about the outcome. Ultimately this bill does repeal and replace obamacare in the way we laid out over the years. And we have this opportunities. Well keep moving forward and get it done. Arthel not all republicans are feeling quite as confident as in scali correct, right . Reporter thats right. The members of the conservative house. Jim jordan is one of the Freedom Caucuss found members saying conservatives wants to see fundamental changes to healthcare, not small tweacts. He says if the Republican Leadership ignores those who have concerns about the bill, they will have a hard time getting enough votes for it to pass. It seems top me the b they choice is work with us or you dont end up getting the votes. Thats the real choice. Reporter other Freedom Caucus members argued, they should add more items to the bill that would help remove regulations on healthcare. He says he plans on bringing up those issues with the president when he visits for the pizza and bowlin
Are you fired up like the president . Back and ready to take on a full agenda . I will not be having a press briefing, but other than that. We look forward to spicy being back. It is tuesday, may 30th, 4 00 a. M. In the east. President trump back in the oval office and trying to return to the countrys business after a long Holiday Weekend and an even longer overseas trip. Some key issues on his very full agenda whether to pull out of the paris climate accords and the search for a new fbi director. The president also weighing a strategy Going Forward for afghanistan that could include more troops, a decision all the more significant after President Trumps first visit to Arlington National cemetery as commander in chief. The president also weighing whether to shake up his team. Sean spicer is set to brief the media, as we mentioned, this afternoon, amid questions about changes to the press office. It will be the First Time Since the president left for his nineday trip that any white hous