Microsoft both helps to lead higher the vaccine for 1. 5 billion, a top analyst will tell us what it could mean for that stock. Power lunch starts right now bob pit sannist is watching them tlim toward new reports theyre trannen bond yeels, a very, very heavy week of auctions bob, lets start with you. Were not doing it in the way we thought, weve been having this rotation go on, not really happen today its largely tech. Remember on you banks, energy, stocks, industrials have been leading recently health carele lagged a bit russell 2000 is not doing much here, either qualcomm and broadcom with new highs. Apple is not far from a new high its not just tech, there are some consumer names consistently holding up kimberlyclark, for example, colgate, target, lowes, but dont kid yourself this is still tech driven. All of the big regional banks are down 2 , 3 or 4 . We did it yesterday we are not far from that, folks the intraday high, just 3393 well see what the final hour does to the market t
This crisis to the head of the European Commission says the stakes could not be higher as e. U. Leaders discuss a major financial coronavirus Recovery Plan. One of the story regional leaders trying to mediate in malis deepening political crisis is tributes are paid to those who died in recent protests. And on time how much with the sports they are madrid they have won the Spanish League title full record extending 34th time. Man ending the clubs 3 year wait for the championship. India has become the 3rd country in the world to record more than 1000000 cases of coronavirus thats after the u. S. And brazil in all 3 countries. The pandemic is wreaking havoc on Health Care Systems economies and peoples daily lives some states in india and re imposing restrictions after the lifting of the nationwide lockdown last month theres concern many cases are now going unreported because of a lack of testing infections in the us have set another record more than 70000. 00 in 24 hours thats the highest
Up pressure. A big thing the marked is watching into the weekend, stimulus negotiations in washington they appear to be stalled with no breakthrough yet. But that could change. We have 59 minutes left of trade. We do sara, as i know you were equally with me on this, we also happy birthday wishes to closing bell and power legend bill grijive who shargri griffith who shares our birthday and mrs. Carl quintanilla. It goes on and on this great seventh of august. Popular day great day it is because of them, not us. Coming up on todays show, tensions ramp up between the u. S. And china, well speak with i ian bremmer and why a worldwide depression is coming plus, the weeks storm driven Power Outages have been a major headache for people working at home. But they gave a boost to a generator company. Well speak with the companys ceo in a few minutes lets focus on the big stories that were walking mike santoli is tracking a volatile market session. We have the latest developments on the stimulus
Debates backtoschool, voters are not allowed to see or hear him say those words. Almost immune. We have a lot more on this, believe me. Lets get straight to your money. An economic indicator, here it is, 1. 19 million new jobless claims. That is the lowest number since the economy tanked. It is very good news for the recovery. The trend in new claims is flat out down. The dow industrials taking a little heart from that. We were lower, now were going to be up maybe 30 odd points. Not much of a gain. Theres a lot of green on the lefthand side of the screen. The market story is the march to new highs. The techheavy nasdaq already hit several records this week. The dow is at the 27,000 level. Thats up 8,000 points in four months. Theres a lot of very positive news in the background. Positive vaccine news. That helped. Dr. Fauci says well have tens of millions of doses of the vaccine available early next year. Heres another plus. If congress doesnt come up with a virus relief package, the p
The companys intelligent cloud bids that including azure, windows, posted 13. 4 billion in revenue. That beats consensus by a bit. Azure slowing up a bit. Ceo had a question about that and the companys growth on last nights call asked whether or not he is concerned about it my own approach to this would be not to worry as much about shortterm whether or not it is the growth number, im not trying to match an artificial number i think the world will come out of this and it will be stronger when we invest in this space. An ad spending slow down, and they closed that acquisition four years ago right now the Gaming Business had record engagement. People stayed home and they played they call itd a breakthrough quarter for gaming, guys yeah, xbox and surface two were nice surprises. The other big earnings move in tech is twitter. Lets get to Julia Boorstin on that yeah, twitter grew, growing their monetizing value from the year earlier quarter the addition of 20 far exceeded expectations and