As a matter of fact. As it closes it is closing lower, dragged down by renewed weakness today in the big tech stocks. Also energy was weak. So all of that, we will have in detail for you. The dow down about 400 points. Welcome to the show, everybody, im connell mcshane. Melissa wow. That was quite a press conference there. Im Melissa Francis and this is after the bell. The dow and the s p 500 closing down more than 1 after the biggest rally in at least two months. The tech selloff pushing the nasdaq deeper into the red after its largest gain since april. We have a lot of news to get to today. Fox Business Team coverage to cover it. Lauren simonetti following the markets. Blake burman is live at the white house. Hillary vaughn has latest on covid relief package. Kick it off with you, blake where all the action is now. Reporter we saw President Trump here as the closing bell hit and the topic again was tapes and conversations that the president had, 18 conversations, nine hours worth wit
We have blake burman at the white house. We begin with gerri willis. We finished with the s p at new record highs for first time in six months. Above the prepandemic highs. Think about that. That is the 14th record close this year. Turn to the nasdaq as well, also at a record high today, second Straight Record close for that index. The 34th record close this year. 174th record close since election day. Good news there. Market keeping an eye as you said on two big earnings reports today. One was walmart. Shares down after the nations largest employer reported eps of 31 cents a share, blowing out estimates samestoresales up 9. 9 . Online sales up 97 . Even so the stock is down. Dont know what it takes to get walmart up today. Home depot that stock up as well. Blowout Second Quarter with the sales up 23. 4 . Americans are remaking their homes as they are forced to live there, stay there, work there all the time. Finally weve been watching apple shares closely. They are higher today as the
They never say middle women so theyre politically not correct. I have heard term middleman for a long time. They are so wealthy. They are so wealthy. Nobody knows who the hell they are, other know what they do. They make more money than Drug Companies. At least the Drug Companies have to produce a product and it has to be a good product, the middlemen, the rebate im doing cuts out the middleman are and reduces costs and goes back to the people purchasing drugs. I have a lot of enemies out there. May be the last time youll see me for a while. A lot of very rich enemies. Theyre not happy with what im doing. We have one chance to do it. No other president would do what i will do. No other president would do favored nations rebate, buy from other nations at much less cost. Nobody. There are a lot of unhappy people. And theyre very rich people and theyre very unhappy. Heres my fourth promise to American Workers. Beyond our medical supply chains over the next four years, we will onshore mill
Jackie deangelis in the newsroom and Edward Lawrence in washington. Lets kick it off with jackie on todays market rally. Jackie. Reporter good afternoon, melissa. Stocks were slightly higher on the blowout retail sales report in may, an increase of 17. 7 , the biggest monthly increase. Aprils sharp decline was revised lower this is good news as states are reopening and economy is getting up and running, there does appear to be a lot of pentup demand from folks not shopping while they were unlockdown orders but buyer beware. As you said in beijing, another lockdown after a cloughster of new coronavirus cases showing reopening may not be as easy as everyone is hoping it will be. Meanwhile stimulus hopes are helping stocks too. Reports considering the Trump Administration is considering a one trillion dollar infrastructure plan to help the conry recover. The money is expected to include things like roads and bridges and 5g infrastructure. Washington post, facebook, google, the ceos of tho
About all weve been through. Well talk more about that. We also have earnings from uber coming out any moment. Well cover that. Fox Business Team coverage with all the top stories. Lauren simonetti watching those stories. Blake burman from the white house. There is a lot of news there. And susan li with uber and more from the new york. Lauren, we start with you. Lauren guys, good to see you. I dont want to call it a fade but the dow was up 430 points. It lost some momentum closing at 23,875 for a gain of 211 points but certainly a fade for the third day in a row. Take a look at nasdaq. It didnt close above 9,000 but it is positive on the year by seven points. What a day. What has been powering the nasdaq and the overall market . Megacaps, facebook, amazon, google, netflix, microsoft. Look at them this quarter. Theyre all up 15 . Strong balance sheet, cash flow, generally seen as immune to government regulation which had been an overhang. There is very much a push, pull were seeing in t