3386 is the number to watch for that s p 500 record close. 59 minutes until the close we have a big show coming up to day the s p 500 makes yet another run at that record close bob doll will tell us why he is expecting the economic recovery to be more choppy. And why hes cautious in the short term plus, gaming the impact of the dnc. Well speak with a policy expert who says this weeks Democratic National convention could be a negative for the market even though its happening virtually. Right now, were going to focus in on the big stories were watching to day. Bob pisani is tracking to days action we have the latest on growing tensions with china. And joining us with his outlook for stocks is tony dwyer bob, start us off with the Broader Market whats going on behind the scenes and whether you think we could see that record s p 500 close today. When you get this close within less than 1 he , you usuy can get over it. Were still not there. 3386 as you heard before is the old closing high t
Not a word of antifa and he took no questions at all. The president leaves the white house at 10 00 oclock hour, he may take questions. Companies giving us financial drama. Look at this, zoom, lockdown winners, huge increase in profit and the stock up to the races. 120 bucks. Walmart, two developments there. Deal for tic tac may tiktok fairly soon and delivery soon with amazon. Watch the stock go 2 and a half per can he be the. The dow looks like its going to be down today, the s p slight move at the opening bell and the nasdaq, although tech stocks doing very well again, the nasdaq up 70 points premarket. Big day, Varney Company is about to begin. The best stock market dow in 36 years and its very interesting, so people are very happy with their 401ks and stocks that they have and thats a tremendous achievement best in 36 years. Stuart yeah, a lot of bad performance. The president talking about the economic recovery, nasdaq closed at another record high. More on all of this a little b
Weve seen the dow and triple gains. S p in positive territory too. Down 22 points, s p futures are off by four. Yesterday was a good day for the markets. You had the nasdaq wed been watching closely was a big outperformer gain of 293 points the first day out of the last four both the nasdaq and s p have been in positive territory. Those three days before that give you something to worry about . Futures had been higher. Down a lot but come off the highs in the session looking at the treasury market where the 10year stands right now. Just below 0. 7 . Oil prices which really fluctuated and sold off sharply. This morning are down again. Wti off 1. 5 andrew thanks, becky a couple big stories to talk about. The senate set to vote on that slimmed down relief bill today talks between the white house and House Democrats and a report that President Trump may step in with more executive actions to try and fill the gap if something doesnt get done joe . There are other places in the world too. We
Mike, this morning im zeroing in on enterprise, looking at zoro down 30 right now. What is interesting to me about these names is they both got a big bounce after sales force and workdays earnings reports but theyre giving that back today and then some. Investors seem to maybe be realizing that these names are tied more to overall Enterprise Spending it has not been great versus that sass exception that we saw. Im wondering what you think of what is happening in that space. First the rhinoceros horns at the end tell you something the hottest money, the ones that went the way up, the last spurpt is being taken out i think that this is happening in the context of what many of us have been saying. The market looks a little stretched. A little at the high end of its up trend it should cool off and it was pushed and pushed and pushed a bit higher in part because there has been a welling up of kind of momentum, speculative action, partially in the market some kind of an unwind going on now.
By 9. 1 and the pain is very much in the tech sector. The nasdaq is down even more. Stoxx 600 down by 6 10 of 1 . 1834,rodollar is at 100 stabilizing at this point. The euro has been down and pushing back. The lira is that a fresh record low against the dollar. Just off a fresh record low. Alix a lot of activity in the u. S. Is a steep selloff in tech. Scarlet fu, walk us through the nuts and bolts. Scarlett we are off the worst levels of the session before the nasdaq its the biggest drop since june 11. No specific catalyst. The jobless claims report was not encouraging, but this is a long time coming. People saying equities were not extended, especially those in the growth sectors and specifically mecca cap names. Looking at the different indexes within the nasdaq 100, 80 9 of the members are lower. Are down. M within the s p 500, 62 . Then you get to the dow average. 57 of the members are lower and within the valley, only half the members are down. They give you the sense of the rota