Roll out some responses to Chinas Hong Kong law as the showdown with twitter gets escalated around the minneapolis protests oil near 33, the focus is squarely on twitter and this rule violation that the president s account got slapped with, and then the white house account, the official white house account retweets were all kind of confused, as marc benioff, who is against this obscure regulation that gives these companies an exception todo this, many are confused it seems President Trump wants to create his own enemy with if you start regulating these Companies Rather than having the exception, theyre always going to have to put a counter to what President Trump wants. I think what he may not understand is free speech is nasty. What he had until this was a great run of things. Its going to make it tough for him to be aggressive on twitter. He doesnt have press conferences that work because of all the displeasure he had with regular reporters. Hes disintermediating himself from the pub
Points. But as more people go back to work, could the sudden tech spending boom that was triggered by the workfromhome movement, could it disappear as quickly as it began . Chairman and ceo of adobe, this is a Favorite Software company of small and medium sized businesses, he is here, first on fox business, on whether we all kind of borrowed from future tech spending to ramp up connectivity and what it might do to tech stocks coming up. With the memorial day holiday soon upon us, will americans give us that once in a lifetime visit to europe or somewhere else for a Summer Vacation closer to home . The ceo of the Worlds Largest travel Marketing Company says one hotel in particular thats announced it will reopen is proving to be the biggest vote of confidence the nation could get. Which hotel and where it is, coming up. Plus, Hedge Fund Hot dogs, pandemic rebound stocks and charlie breaks it on directvs future at at t. Less than an hour to the closing bell, lets start the claman countdow
Significance, that infection rates fall after lockdown orders are lifted. Repeat, thats jpmorgan saying that. Big deal. All right. Now listen to this. Scuffles between probeijing and prodemocracy hong kong legislators. Why are hethey doing that . Thats the wrong tape. Show me the legislators scuffling, please. China just moved to take control. Those freedoms promised to hong kong when the british left are being wiped out. U. S. china relations turning very sour. Initially, that didnt go down well on the market. Futures turned south but then substantially recovered. Right now, were up about 20 points for the dow, modest gain for the s p, tiny, actually, fractional loss for the subpo p. This is a very important day. You will see the president at the white house saluting veterans. You will hear from officials and businesses across the nation about the great opening up. And we will tell you what you are allowed to do this weekend, and where you are allowed to do it. Varney company is about
Last ten minutes or so and finally, optimism around the possibility of new stimulus. All of that helping the market up about 1 on the s p 500 as we stand. Coming up on todays show, big moves in the banks space and Goldman Sachs is bringing workers back to the office well talk about that with the president and ceo john waldron and Michael Novogratz will lay out the risks he sees. Mike santoli is tracking the Market Action and a pair of key faang names holding their annual meetings as tech underperforms today and mike, start us off with the Broader Market and the action were seeing right now. Yeah, so weve been talking about this rotational activity away from the big growth winners into all other areas of the market that are more sickly call and smaller. It is really happening in a benign way so far. Sometimes the baton can get dropped in the handoff but it is towards its highs so kind of stalled out at this area, but below the surface, equal weighted is up close to 5 so it is kind of st
Within the s p 500 on a points basis. Goes back to the idea that the mega cap tech stocks continue to hold their own even with the cautious commentary. With more market analysis, lets bring back Credit Suisse chief equity derivatives strategist, mandy hsu. We are hearing from these different executives about the lack of guidance, lack of visibility. What is the take away for someone like you . What are you hearing from the commentary . Mandy i think the biggest take away from earnings is how little they matter for this earnings season. A lot of ceos are unable to give clarity, unable to give going forward. Much was from last quarter, which as you know, was very different. The most dislocated metric is still correlation, how high correlation is. Extremelyast week, an busy period of earnings, correlation increased back to the march levels, a sign that investors are still pricing this to be a macro environment rather than single stock focus. Romaine do you think there is anything that cou