Better than 1 move for the dow. Nasdaq record highs. Big tech taking a bit of a break. You see facebookdown as well as amazon amazon, netflix and microsoft lower. If its tuesday, it must be tilman frittia calling on americas governors to show some real leadership and tell us where the goal posts are on reopening. Power lunch starts right now tyler, thanks. Its Energy Leading the way today. On track for its best day since june 5th it might not matter as much as it used. Bob has more technology stocks, 27 of the s p 500. That doesnt include google which is really a tech company or amazon which is a consumer discretionary. All together top Six Companies are 25 of the s p 500 just about. Its approaching that. Its crazy the rest of the sectors are shrinking. Let me show you what the sectors are today. Energy is only 3 of the s p 500. Now it used to be 5 a few years ago but financials have shrunken dramatically for example, it was 15 of the s p just five years ago. Industrials were 10 now it
Lavongo on their merger and the first companys earnings report. David has news on microsoft and tiktok. Want to continue to update a story were following closely given we have not seen anything like it. Tiktok the incredibly popular social media app in the u. S. And around the world, bytedance its owner, the u. S. Government saying we will shut tiktok down in the u. S. Unless you find a way to transfer all of it to u. S. Ownership and microsoft playing the role as potentially the only suitor for the business i wanted to bring everybody up to date on new reporting that ive got because it is interesting. Both sides right now, bytedance and microsoft and of course the u. S. Government is still very much involved in this as well are negotiating to try to reach some sort of an agreement under which microsoft would buy the u. S. Business of texas toks u. S. Bit from bytedance within the next two to three weeks. That seems to be what theyre hoping for in terms of a timeline obviously in these
Headlines. Fang with all the headlines in the greens, apple, amazon, netflix up 1. 5 . Tech remains hot, hot, hot. Still to come, definitely coming on todays show, coronavirus cases climb and states continue to rethink their opening plans. Well speak with fed chair James Bullard, what it means for the economy. Shares of Taylor Morrison posted record sales well speak to the ceo about whats driving the strength in the housing mark up a third of the percent. Lets start focusing on the big stories. Mike santoli tracking the markets, meg tirrell with the rising case count and courtney watching flags in the Retail Sector mike, lets kick things off with you. Market idling right here, holding above the flat line for the moment it seems like stealth pullback consolidation weve had last few weeks, s p 500, talking about a summer trading range this is what we had last summer. It looked like that on a narrow basis. Scares in both directions. Were not there in terms of prolonged sideways action. Th
Major amples we saw a surge in cases for example, in other parts of the country that had not been as hard hit jim, i can go through a list of things this morning that perhaps would give investors pause in a different environment, whether it be beijing, and the recent closure of schools there as they deal with a surge in cases it is only 137 but nonetheless. Flights also there we will get the update from beijing. Layoffs at the likes of at t or hilton quest giving us gooit guidance that still speaks to the weakness of that business. Yet here we are with potentially another rally in store a half hour from now. David, all of those things you just mentioned were things that maybe we expected to happen im looking at 25 pieces of research that i have sent to you in synopsis, the vast majority of them are raising price targets. Why . Because the targets were slashed before we knew that the Federal Reserve was going to back stop all of these companies so the Federal Reserve is saying if you ar
Stock is surging to an all time high well have more on teslas big move in a bit. Right now, power lunch begins. Yes, it does the nasdaq at a record high today. The s p is about 7 below its all time high. Lets get to dominic for more. The markets like that camera, were higher. They are coming down now but still in positive territory. At the highs of the day is dow is up roughly 469 points they are up 277 right now. Pretty much 1 gains across the board. The s p 500 hovering right around 3150 and the nasdaq, well put a star next to it here because its created a new record intraday high two places in technology that are really moving. Check out these Etfs First Trust dough jow joan inte. Every single one of these tech oriented etfs has hit a record high some of it is covid related but watch those moves. Both of these showing pretty strong gains opinion surging in todays trade. Good time for some companies tyler, to be in the ipo market back over to you thank you very much lets talk about t