Out my myspace page. Power lunch begins right now and welcome to power lunch. Im melissa lee. The dow and s p both hitting records. Neither had back to back losses so far in 2018 all three major averages on track for a fouj straight positive week and on pace for the biggest monthly gain since october of 2013. And 3m and intel soaring and dividend hike. Well check out the other movers colgate is down. Revenue falling short. Honeywell is higher on the earning by 1 . The company also raising the outlook in starbucks, down 6 revenue missing forecast sales growth expected to come in at the low end of the prior 2018 forecast thank you very much. Welcome, im Tyler Mathisen and get you up to date shares of wynn tanking now down 7 on the reports of Sexual Misconduct by the ceo and founder steve wynn the wall street journal reporting dozens of people coming forward, more on this developing story ahead us economy growing steadily in the Fourth Quarter of last year but losing steam from the summer
Record highs. Abigail very tight trading range. It could be the tightest of the year for the s p 500, and that is saying something. Only about a three point range weve seen for that index today. And again today will be a record close for the two major indices, even if the gains we are seeing are not terribly large in todays session. As we see stocks continue to climb, we look at the various measures volatility and what people are doing protection wise to have been falling. We talk about the vix, this is the Credit Suisse fear barometer that measures the cost of bearish to bullish and the three months option is down for the Third Straight week. It is looking at declines as we see global stocks complete a six quarter of gains. Theal stock here seen in msci all country world index. And that Credit Suisse fear barometer plunging as we continue to see what some see as complacency in this market. In todays session on the move our airlines. Delta coming out with an updated forecast for unit r
Panel a house panel backed the bill last month. The first lawsuits have been filed against the trump administration. They argue restricting travel for citizens of muslim countries violates the u. S. Constitution. Progressimistic about and divorce talks with European Union but is planning for the possibility of they may break down. We will honor our commitment because ours is a country with laws that obey the of people who obey the law. We will challenge europes claim line by line. Mark progress was being made to a deal, dismissing lurid accounts of crisis and breakdown. Global news 24 hours a day andred by 2700 journalists analysts. This is bloomberg. Julia live from bloombergs World Headquarters in new york, im julia chesley. Joe im joe weisenthal. Is whatd you miss . The response were democrats, tom perez, chairman of the dnc speaks out on puerto rico and shares his thoughts on tax reform. And live from los angeles at 4 30. An of for ilg, the provider of professional vacation experie
Is doing today. The good news its not down much. The bad news is its not up much either. A narrow range for stocks. Still, as melissa noted, amazon as well as apple keeps surging ahead. They are both trading at record levels. Believe it or not consumer stocks are your best sector today. If you own marriott, under armor mour or wynn resorts. Tyler . Brian, thankful. Welcome. Im Tyler Mathisen. Volatility not so much. All but dried up this year. Lets get straight to bob pisani at the new york stock exchange. The fear gauge hasnt been this low in a quarter century, bob. Reporter lets take a look at it, tyler. Why is it this low . Its not that surprising. Theres a couple of things happening with the vix. Tamm p tampening down volatility. We have advances that are making markets, more hedging methodologies, more ways to buy protection out there that is tamping down the volatility. Keeping rates low and essentially encouraging people to buy equities. And we have the fact that risk is lower,
Busy hour. White house on defense this week. Epa head pruitt and sean spicer pushing back on the media going nuts over the president s decision to nix the paris climate agreement. May jobs report falling short of expectations. Why is the market shrugging it off. Just where are the jobs . Kathy Griffin Holding a press conference from getting fired for chn because of a horrible, isislike photo. Why she says she is the actual victim. Unbelievable. It is unbelievable. Back to major market records, all three averages ending at new highs for the second day in a row. Nicole petallides on floor of new york stock exchange. With the big winners. Great to see you, nicole. Reporter lauren, market loves to see the market at new highs. Everybody loves it for their 401 k s and iras. Dow up 15 since election day. That momentum continues, shrugging off some headlines. Looking right now, the dow closes up 5points. Some of the alltime highs. Eight of the 30 in fact. Look at some of the names including mc