Some kind of lockdown as indias government tries to curb the virus infections. And security patrols in the philippines as the country rolls out tough measures to enforce coronavirus restrictions. The United States is struggling to contain a rising wave of coronavirus with cases of infections and deaths soaring more than 77000 infections are reported in the latest daily tally another bleak record high when resources in many areas are stretched to the limit and hospitals are in danger of being overrun with patients top Infectious Diseases expert anthony found is urging state officials to do everything they can to convince people to wear masks the White House Coronavirus task force has identified 18 states as socalled red zones where urgent task. Is needed. I can say as a Public Health official that i would urge the leaders the local political and other leaders in states and cities and towns to be as forceful as possible in getting your citizen tree so wear masks masks are important as pa
New stimulus package out of d. C. More progress on the big vaccine front. That is putting the competitor moderna on the become burner for today. Shares of wayfair are up 950 from march low well tell you the other radar e commerce player investors are diving into. Power lunch starts right now kelly. Thank you. Its not the typical rally we have seen but the s p is still on track for its best july since 2013 lets get over to bob for more on whats moving now bob. Last week we had cyclicals and value stocks really doing well at the expense mostly of tech like amazon down 8 not happening, not today bottom line here is apple, visa microsoft really helping the dow. Exxon, chevron not helping we have been trying to get over ta june 8th high thats the height of opening, reopening hopes. 32 or so were over that. We close over that youll hear the technician squawking about this one this means were positive for the year as well megacaps leading the way this crazy bullishness, amazon is up 70 of the
Is confirming today that its going to be testing a mobile app for storing and exchanging the on not as a paper entity by the way but rather as a digital entity like for example. The world learned about this when this screenshot appeared on social media take a look at that right there see it you can see there from the image that this appears to be sort of a Marketing Tool to get citizens chinese citizens comfortable with the idea of using and trusting Digital Currency now its important to mention that china is stressing that this really is quote only a test but is it and if it isnt why are they so i head of the game at this point forbes right forbes one of the worlds leading business periodicals is warning the white house right now that. Up and ministration not to continue its present course of banning and attacking cryptocurrency in fact let me show you this recent headline from forbes it says quote why try should unveil a us answer to big coin to rival chinas digital one should the wh
Morning. Dow, nasdaq and s p scoring fourth straight month of gains. One of americas old retailers filing for bankruptcy. Lord taylor hit hard by the coronavirus pandemic. Surprising results of new study ahead. Mornings with maria is live right now. Dagen global action, european markets up across the board. The euro zone economy showing signs of some growth, purchase Managers Index there for july coming in at 51. 8. Anything over 50 shows growth. In asia overnight mostly higher, private survey of chinas Manufacturing Activity showing growth for july. Purchase manager index hitting 9year high. Gold shines, on a roll closing in on 2,000 an ounce. White house officials and democrats set to meet again today to discuss covid19 stimulus bill. Cheryl white house chief of staff mark meadows says we still have a long way to go and hes not optimistic about reaching a solution soon. Democrats want the extra 600 of Unemployment Benefits which ran out last week extended an republicans want to reduc
There was tesla. After its broad earnings report, shares were up as much as 6 but end of the day down by 5 it seems like the momentum trade, the big cap tech trade got unwound a little bit today. Yeah. Is this another one of those rotation moments we had one in mid may and one in mid june maybe we have one here in late july if you think about the move in big cap tech, apple is down about 5. 5 against the s p in the last ten days. Across the board youve seen this essentially across the tech space. If you look at small cap stocks, the iwm, the etf that tracks the russell 2000 it actually eked out a small gain today banks are up 4. 5 in the last ten days this isnt just a oneday move sometimes these days seem like, boy, this just all started today. This is a move thats been building for the last at least two weeks of sessions. I think its something that could continue weve just gotten through earnings from a lot of these folks and we started to see what it looks like when you start to sell