And welcome to power lunch. Im melissa lee. Stocks keep surging. New records for the s p and nasdaq and the usual suspects keep hitting fresh new highs. Corning, electronic arts, nvi nvidia, the list goes on and on. On pace for its best day since march 3rd, snap has traded over 44 million shares today. That is more than double its 30day average volume. One of the key catalysts for had monday, the surge in the price of oil. Crude hitting nearly 50 a barrel. Lets get the latest from the y nyse floor and bob pisani. Reporter and thats the key. The market in the rotation. Lets put up the board. Whats been weak throughout the year is this energy, banks and retail. Whats leading today . Energy, banks, and retail. This is what i talk about this rotation. Consumer discretionary but theyre lagging today. Take a look at sectors in 2017. Yes, tech and Consumer Discretionary but, look, banks and energy have been laggards. Theyre leading. This is why the market keeps holding up near the top. Old st
Here on the Halftime Report. We do want to begin technology where were watching an up raffling of the chips. Smh seeing its worst day in a month. Youve been talking about it for so many months. Is this going to be the down fall of tech . Well, i think that there is no doubt in my mind we talked about the idea of this thing moving very fast. We talked about going all the way back to brexit and suddenly this entire sector took off with technology and a lot of that is because the fundamental story was there to to back up the fact that you had dividends. And pes are starting to stretch a little bit. Weve talked about this on the show. Time to maybe take it out of the stock and do a stock replacement, old options for more up side. If it falls apart like theyre starting to roll down now, you at least were able to get yourself into a risk reward position. And thats what were seeing right now is down side. And we asked if we were going to have some kind of melt up. And now i wonder if were goi
Friend and loved his family deeply and so, you know, its important before we rush into all the politics of this to to take stock of somebody who made enormous contributions to the United States, and we are grateful not only for his service but for his familys service. The constitution is pretty clear about what is supposed to happen now. When there is a vacancy on the Supreme Court, the president of the United States is to nominate someone. The senate is to consider that nomination and either they disapprove of that nominee or that nominee is elevated to the Supreme Court. Historically this has not been viewed as a question. Theres no unwritten law that says that it can only be done on off years. Thats not in the constitutional text. Im amused when i hear people who claim to be strict interpreters of the constitution suddenly reading into it a whole series of provisions that are not there. There is more than enough time for the senate to consider in a thoughtful way the record of a nom
Delegates needed to win. Ted cruz 13 states and marco rubio has 87 delegates. A verymp i know it was tough night for marco rubio. He works hard. He spent a lot of money. He is a lightweight. Herline meanwhile in victory speech, clinton took what sounded like a shot at rumptrump. Mrs. Clinton it is clear the havesin this election never been higher, and the rhetoric we are hearing on the other side has never been lower. Trying to divide america between us and them is wrong. And were not going to let it work. Caroline clinton has 1001 of the 2283 delegates needed to win. U. N. Security council vote on new sanctions for north korea has been delayed until today. The sages are aimed at punishing north korea for its recent missile launch. The sanctions are aimed. North korea would be banned from selling minerals. The Worlds Largest money manager says leaving the European Union would mean it risk for the u. K. With few rewards. The countryarns would have a drop in investment if voters decided
Lets look at where the numbers stand right now. The s p 500 the biggest gainer. Up gainer the nasdaq has been flirting with negative territory in the flat line. Its up minimally right there. Lets take a look at whats happening with currencies as well, in particular with the u. S. Dollar and the japanese yen. Kinds been a very seesawed of day, a volatile kind of day for the currency. You can see that a weekend over the course of todays trading session. We started hit right back where we started, around the late morning hour or so. A bit of more weakening and thats where we stand right now, one dollars will get you 108 yen. Lets also pop into my bloomberg, and i want to show you the Sector Health of the s ps 10 sectors, this is the imap function. Eight out of the 10 sectors of the s p are trading positively, energy has been the biggest leader all day, up. 2 materials up 1 . Now, talking about energy, i want to talk about oil, and see where that has gone. We are seeing it back up near the