With the some sort of spike in the virus, hopefully not. If that happens that would certainly affect the corporate profit outlook. We are looking at a move into the cyclicals. The Financial Sector being helped out by a steepening yield curve. One area of weakness around china because there is heightened china tensions, chips trading lower on the day. On the year, lots of room for the cyclicals to make up given the fact the s p 500 is down 6 . Etf down 18 . Leading the way still is the fangs, the stayathome trade. David a lot of us thought the markets would take a hit because of the horrible protests as a result of the killing of george floyd over the weekend. They did not react to that. We were worried late friday that President Trump would be going after china, yet the stocks did not react negatively to that, even though we learned today agricultural imports might be cut. Is that because the president warned more than he did . Abigail that was more a case of talking the talk and less
Significance, that infection rates fall after lockdown orders are lifted. Repeat, thats jpmorgan saying that. Big deal. All right. Now listen to this. Scuffles between probeijing and prodemocracy hong kong legislators. Why are hethey doing that . Thats the wrong tape. Show me the legislators scuffling, please. China just moved to take control. Those freedoms promised to hong kong when the british left are being wiped out. U. S. china relations turning very sour. Initially, that didnt go down well on the market. Futures turned south but then substantially recovered. Right now, were up about 20 points for the dow, modest gain for the s p, tiny, actually, fractional loss for the subpo p. This is a very important day. You will see the president at the white house saluting veterans. You will hear from officials and businesses across the nation about the great opening up. And we will tell you what you are allowed to do this weekend, and where you are allowed to do it. Varney company is about
Im liz kreutz. Lets get a quick look at the weather. Here is meteorologist lisa argen. Good morning, lisa. Good morning. Were looking at low clouds and fog here. Santa cruz with a high of mid to upper 60s today. Onshore flow bringing the numbers down all over the bay area, well into the 90s on the peninsula, mid and upper 70s in San Francisco. So, overall, 15 to 20 degrees cooler in parts of our inland valleys and we started that cooldown yesterday along the coast. Theres a look at san jose, 54 in napa, as well as concord, and with the visibility, the fog, it has been reduced threequarters of a mile, santa rosa, peta two miles at the shoreline. Looking at the numbers in the 60s at 9 00 around the bay. Will feel cooler 80s inland but only upper 50s at our beaches. Liz . Sounds good, thank you, lisa. Well be closely watching for crowds in the bay area, especially out at dolores park in San Francisco. Mothers day Holiday Weekend means more people could want to get out of the house. Yester
Well talk to one about what shes doing to protect her homes. A little good news and positive trends being seen at airports around the world. Friday may 8 you are watching Worldwide Exchange here on cnbc good morning, good afternoon, good evening welcome from wherever you are watching im Brian Sullivan i think i speak for all of us as a say tgif stock futures are up 270 points right now. Perhaps the Market Knowledge of the day, for some reason, if you tuned out yesterday. We have some gains the nasdaq is now higher on the year hard to believe given all that is going on across the country it is true with yesterdays gains that the nasdaq is now positive the more condensed version is up 4 this year it is really the big five Technology Names you know. Apple, google, microsoft, facebook are up on average 10 despite concerns about Consumer Spending on advertisement. Google and microsoft are up. Improving is the work from home and stayathome stocks. Zoom, netflix, paypal have all soared since
The Video Conference hosted by the group vocus on Rural America. Thank you for joining us today. Tos is a different approach a press event for me and i think for most everybody that is going to participate this morning. Out,e eager to try this ,nd hope if we make a mistake muting you again, please forgive us. I will introduce the speakers as we go and we will hold the questions until the end. Our communication director is running the news button and the chat sidebar on zoom, so if you have any questions, please just namea note there with your and she will call on you. You are final call for questions at the end. As you know, our country and the world are grappling with this ongoing coronavirus pandemic, and i sincerely hope that you and your loved ones are safe and , and thatgetting by you are practicing social distancing and taking necessary precautions. We do appreciate you making time for us today to do this event. I am in Monroe County and the southern part of the state and i ed he