Recently as the country reopens, arizona has been easing lockdown restrictions over the weekend on salons and on restaurants. The mayor of scottsdale will join us. Kelly, back to you as you mentioned, tech stocks are out performing today once again as the market climbs back toward record highs but a number of other sectors have been left in the dust. Bob is here with more. Bob. Lot of disparities out there. Its not everybody up. I want sthto show you the s p 5. Were trying to breakthrough multimonth highs. The s p 500 moved up off of that if you want to keep an yien that because were knocking on the door there of breaking out here. I mentioned the laggards efb says the s p is only 12 off the highs. Bank stocks have had a very ugly time 40 off of their recent 52week highs. We have seen energy stocks, 30 off of their 52week high. Theres been a lot of sector laggards out there industrials 25 . Reits, 24 cyclicals all lagging here out performers, mostly lets call them defensive names. Cons
As being totally disingenuous. The jd of what happidea of whatt week with the minus 37, theres a couple of Financial Instruments that are wrong they are broken. We dont regard things as broken because it seems almost impossible that something could break. But the future that you see and the actual prices are very different, particularly in the out years. And i think whats going to happen is this has to go to zero again, because we dont have more space i heard the ceo of the largest Tanker Company on friday saying theres no room. Why should this number not go to zero it should go to zero faster than it did last time any chance it will go to zero. Yeah. Any chance that it doesnt because we will begin opening u some of these states thats certainly a hope, but there are times in life where people know that theres an instrument that is faulty. And they can shoot against that instrument and bury these people there is this financial problem that people behind the uso, they are financial peopl
Every direction. The s p saw an even bigger gain. The nasdaq up by almost 3. 6 the dow futures also up. Keeping an eye on the Treasury Department seeing how the fed news will play out there the fed news is back about 0. 6 . Sitting at 0. 612 . If you watch oil prices, which has been a big indicator of demand around the globe and what is happening, this morning, wti is up about 16 . All the way back up to 17. 49. Wow, all the way back up. 17 unbelievable lets get an update on the pandemic the number of global cases that we talk about nearing 3. 2 million. I dont know how good that enough is for anything we have more than a million in the United States. New york state cases near 300,000. I dont know of the reliability that state prisons near 7 testing positive breaking overnight, california governor plans to order all beaches and state parks to close tomorrow to avoid repeating last weekends violations hot weather, the police memo leaked to several Media Outlets yesterday. Andrew to put
Alltime high. Another Federal Reserve official says he sees growth returning in the second half of 2020 and no need for negative Interest Rates. With lots to come on todays show, well speak with mylans ceo. Well discuss the companys outlook for the rest of the year and whether its seeing a trend of customers stockpiling medicines. And the ceo of Ortho Clinical Diagnostics will join us at the moment we are up 0. 4 on the s p 500. Before we continue, just got to comment, new braackdrop, i love it did you do this by yourself . No, i had some help by the amazing technical staff at cnbc. I think people were sick of looking at my old School Parking meter. Its a great balance between home and work. Cnbc, always with me. Exactly the s p 500 is up about 0. 4 nasdaq up 1. 25, dow is flat. Lets get to the markets as stocks are climbing back from sizable losses at the open all four indices just turned green. Mike santoli joins us with more on todays action. Hi, mike in fact, kind of an extreme exa
Of the Oil Companies hire today. Out, it isto pointed holding onto most of its gains of the last few sessions, trading at 1729. Guy you bring up the fact it is friday. Friday is generally not good for these equity markets. European stocks are lower. We are tracking lower as we speak. We have the trouble another shifter the travel and leisure sector seeing some downside in the european markets today. We are down by 0. 7s present i 0. 7 . We are also seeing a bid today for btp yields. Weve got a rating review from s p coming up, plus the story surrounding where europe goes next in terms of the recovery funding. Pretty and conclusive that front. With got a 1. 90 yield btps coming in, so the periphery looking a little better today. Crude up by 2. 3 . Vonnie lets get some context for all of this economic data. Mckee,joined by Michael Bloomberg International Economics and policy correspondent. What is useful in the data weve got today . Michael well, im not really sure. The confidence number