After President Trump hinted at even more trouble with china two steps forward, one step back when it comes to talks of the next round of virus stimulus House Speaker pelosi told us it is thursday, july 23. This is Worldwide Exchange here on cnbc good morning. Welcome to wherever in the world you may be watching. Im Brian Sullivan another day, more records . Could be futures are higher up about 80 points nasdaq futures are up just about 1 all this after the dow closed above 27,000 capping off a threeweek win streak as it stands right now very early or Late Wednesday morning, the dow and s p 500 are on track for fourweek win streaks. If we get that, that would be the longest weekly win streak for the dow since november 2019 and for the s p 500 since december 2019. Now an even better one for you some good data there you might think it is all about the big five faang names maybe not. Take a look at the number of consumer stocks trading at alltime highs best buy, chipolte oreilly auto part
Hitting the alltime record high on february 12th and the definition of a bear market is 20 lower than the recent highs. The markets tumbling just as President Trump is expected to meet with some of the biggest banking ceos in the world to find out how stable the Financial Market system is and what to do to keep it there. We are still waiting on word but if cameras are allowed in the room we are going to take you there and hear what they all say. This as the battle against the deadly coronavirus pandemic moves into a new phase, as National Guard troops get set to sweep into the hot zone in new rochelle, new york. And as businesses and colleges close their doors, Microsoft Teams is swinging to their digital defense, with a suite of Software Products to help those working from home or moving to online learning. I know a lot of you were experiencing that or your kids are. Countdown has a lineup of power players to tackle all these topics. Steeple chairman and ceo ron krusz kruszewski on th
good thursday morning. welcome to squawk alley. i m carl quintanilla with morgan brennan and jon fortt at post 9 of the new york stock exchange a bit of a sell-off at the open, but answered a little to the upside down 100 bob pisani we bounced, drifted back down and now we re down about 100 points on the dow. this is a pretty modest response considering if number of coronavirus cases has expanded dramatically, not surprisingly the china etf weaker, industrials as well, bank stocks negative initially, now positive still a pretty modest response to the news. coronavirus, a lot of different stories. alibaba said it s possible we could have a significant impact on china s economy potentially affect the global economy. ralph lauren talked about store closures, two-thirds of stores are closed nestle says operations have resumed but with a lower amount of operations overall. nu skin talked about significant decline, 20% to 25% decline, down 15% some ups and downs here. retailers
Finance committee in about an hour. Well bring it to you live. Plus netflix boom ten years after launching its u. S. Streaming service. Netflix crushes earnings expectations. Not just its largest quarterly subscriber gain in history. And ecb leaving rates unchanged. Nasdaq futures pointing to a mostly flat open but dow on pace to drop for a fifth session in a row. First up, more trump cabinet picks heading to the hill for more confirmation hearings including Steven Mnuchin, president elects choice for secretary treasury to appear before Senate Finance in about an hour. Expected to be grilled on his role overseeing foreclosures while running one west which was indymac, also expected to be asked whether he agrees with weaker dollar policy, a lot to get to today. Look, i was involved with in indy mac, which he bought, people are willing to leave their homes before they leave their cars and it was the most reckless there was and they reamed me on it. And this guy went and bought indy mac a
Why did china do it . He says the Economic Situation behind the great wall is not good at all. We will talk to him in four minutes time. And one hot market. Homes in the Million Dollar plus range if you are lucky enough to own one you are doing just fine, ladies and gentlemen. Why is there such a boom in this segment of housing right now . We have answers coming up. First to sue. And there is big liquidity moves that you nus mentioned and they are fuelling a rally. Stocks are off the highs at this hour. We still have a gain in some of the indexes. Thats the big etf that tracks china. The ftse china is up almost 4 . Now a little better than 4 . Bertha coombs is at the nasdaq. Mary is here with me. We have a lot of steam. About 173 point range. So holding on of course as you would imagine when you have a rate cut in china it leads energy and materials. The materials sector at the s p 500 is approaching a 52week high today and also the dow leaders reflecting on what you would expect to se