Over to you. All right tyler, thanks very much. All three of the major averages are hanging onto their gains in the month of may tension escalating with china. My theme is still intact thats a broadening of the rally. This is in stutter steps you get a day like today where you pull back a little bit but not numuch obviously, some of the china etfs, thats first one down today on concerns about whats going on in hong kong. Look at the leadership this week russell. Its been bank stocks and Energy Stocks oil is on the downside thats what i mean those groups have been leadership stocks here look at these china stocks we did get alibaba thats down concerned to whats going on hong kong what was down, transports, russell down the nasdaq, the big tech names is under performing this week. This is rotation this is broadening out of the market that trend continues if you look at individual secto sectors, banks were behaving horribly they are outperforming this week so the Energy Stocks even though
Despite strong sales during the shutdown, especially from walmart. And times of trouble in the Housing Market u. S. Home building dropped by the most ever in april a lot of talk of a bottom has those housing stocks up as well today. Absolutely. But as you said, the Broader Markets near the session lows. Coming up on todays who, well speak with Eric Rosengren on the back of that congressional testimony from chair powell and secretary mnuchin. Well get his read on the economy and whether weve reached a trough in the data plus, well speak exclusively with jim fiterling as the Company Releases a return to work playbook but lets focus in on the big stories were watch ing today. Mike is tracking the Market Action courtney has highlights from retail earnings. Mike, you and the market just selling you have a bit, but of course only lightly following yesterdays big rally. Actually today is i think the narrowest range intraday for the s p 500 in three months and by the way, three months to the d
Predicteded the surgeat oracle and amgen and now, hes got an even bolder call to make the action begins right now. Everything that is old suddenly new again two of the four horse men of the 90s are surging this year oracle and microsoft up double digit. Its well below its tech bubble levels nearly 10 lower meantime, intel is down on the year, but could any of these names actually play catch up to the rest lets get in the money right now. Microsoft and oracle really outperforming. Its up this year. Last week on that one, it got to new all time highs, but its up 33 on the year. A name i want to talk a look at is cisco theyre going to have an Analyst Meeting next week. That could be a catalyst followed by their q4 earnings that are going the fall on august 16th. Cisco had a really bad day missed the guidance of this current quarter, but when you think about that, you have a big gap. The Company Knows they have this Analyst Meeting in a few weeks here they dont generally like to leave you
Or spike again in the United States. This is a gamble as no state has reached the key benchmark the cdc has set forward to meet before reopening, that 14day decline in new cases. But for now its full speed ahead as more states begin easing restrictions today. You can see them right there on your screen. By the end of this week, more than 40 states will be at least partially reopening. With that in mind, here is where the numbers stand. The u. S. Death toll is now approaching 70,000. More than 1. 1 million confirmed cases of coronavirus in the United States. And even President Trump is now being forced to acknowledge the total number of deaths here is going to be higher than previously estimated. Were going to lose anywhere from 75, 80 to 100,000 people. Thats a horrible thing. I used to say 65,000, and now im saying 80 or 90 and it goes up and it goes up rapidly. Rosa flores is in miami. One of the few places that is not reopening. What are you seeing . Reporter were already seeing peo
Been hit, some houses that havent been hit. Just look at the extensive damage here. What we are told, seven people were injured in this storm, three serious. Firefighters right now are two blocks over from this location, looking at one particular home. You can see the severe power that this tornado basically carried through. If you look in either direction around here, you can see how the roofs are either blown off or, in fact, some parts of the roofs are impaled in other houses. We also took drone shots the last five minutes or so to see what was going on here. Around the corner, you could see the damage of just people coming out, trying to look themselves, to see if their neighbors are okay. All of this is going on right now in the last half hour or so, as people are assessing the damage. Guys, were hoping that everyone in this neighborhood is fine. Were going to do some Walking Around ourselves to see what the experience was for them last night. So far, seven people injured. We do h