And later on, there is no alternative to japan. Stocks doing something there for the first time ever. Its monday, march 4th, 2024. Youre watching Worldwide Exchange right here on cnbc. Good morning and welcome to Worldwide Exchange. Im frank holland. Lets get you ready for the trading day with the hourly check of the u. S. Stock futures. Take a look. You will see stock futures in the red across the board. Looks like the dow would open 70 points p lowlower. Nasdaq under pressure. The nasdaq joined the s p with the first alltime intraday high on friday. Still off the alltime highs are the small caps. The russell 2000 trading at a fresh 52week high. It is lagging the other indices. Only up 7. 5 . Growing more more highs with bank of america boosting the lofty target for the year end antiingd tying for the higheste street. Well have more on that in a moment. Take a look at the s p 500. We will show you what is moving in the premarket. Doordash up 2. 5 . Followed by micron and sirius xm rad
Competition in the space. A weight loss drug promising competition for big players. Could it mean an acquisition is in the future. We will dive into it. Im melissa. Tim see more, Courtney Garcia and guy awe daumie. The nasdaq jumping more than a percent, notching the first record intraday high since before thanksgiving 2021. The techheavy index closing below 16,300. The s p also marking alltime highs putting in its 15th record close since january 1st, but there have been one notable name sitting out of the market rally. Apple posting another loss today and is now down nearly 10 since hitting its record in middecember. Whatever happened to that old idea that we like to say, bandy around here, that markets could not go higher without apple . What does it mean for the rally . Is this actually good news for the market, guys . Im one who adhered to that. Again we play the game often. Guy, if i told you that apple would be hold on. Is that a third person reference . Not the way i could have.
Lower. Stocks higher. Technology, one of the best groups today and by the way, the nasdaq right now is above a new closing high. So we need to track that over the final stretch as many of the mega cap, including nvidia, see nice gains today pretty good day, too, for discretionary stocks like decker, surging after its earnings it does take us to the talk of the tape. The road ahead for the rally lets welcome in professor Jeremy Siegel, wharton professor. Glad to have you here. Happy to be here. And we have nvidia, knocked the cover off the ball again and a turbulent day yesterday, and then a nice bounce today at least in parts of the market. Yes well, i think, you know, nvidia did so well, it almost sucked all of the oxygen out of the room so no one else could breathe yesterday. And now i think they settled down there were, i think what disturbed people yesterday was that little chatter in the fomc meeting, the minutes, about some people saying hey, are we done raising, and that, that w
Live from studio b at the nasdaq lets begin with another monster night of earnings. Amazon, ford, intel and chipotle we have full Team Coverage phil lebeau, kristie unanimous partsinevelos, and kate rogers standing by. Deirdre bosa has all the details on amazons quarter. Yeah, so, mel, the street just wanted more from aws, amazons cloud unit. The analyst call kicks off in 30 minutes, but i did have the chance to talk to the cfo just a few minutes ago, and i asked him if he could say whether aws growth has bottomed. He said he wouldnt characterize it that way. That theyre in a delicate situation and while cost optimization work is starting to slow, he said there are still companies that are joining that effort and thats really when the stock turned and gave up the gains its really disappointing for the street, which wanted to hear that that stratrajectory had tu. We had mixed messages from microsoft and Google Google said something similar that customers are still optimizing, and thats
Nasdaq edged down. 26 , the star of the show was the Dow Jones Industrial average, which briefly crossed above 40,000. Hallelujah before pulling back a bit and closing down 39 points. Still, thats a huge leap from where we arrived at dow 30,000 back in november of 2020. So you know what . I think its worth exploring what stocks got us here and why. During this period weve constantly been told that tech is the market leader. But when i look at the top ten stocks up the most during dows trip from 30,000 to 40,000 very surprising group. Only two of them from tech. We also were told Interest Rates is all that matters but thats played a smaller role than expected too. Only the tenth stock really impacted. Instead its an odd grouping where the main thing these companies have in common is very strong exceptional management. Lets run them down so we can learn what the market really wants here. I need you to think about this even though we didnt close above 40,000, this is what matters. First i