Our road map does begin with, well, what else . Big tech, chips, and a. I. , Semiconductor Stocks are coming off what was the second worst week of the year, and of course, mr. Jensen huang is set to deliver what is a very hotly anticipated keynote speech that is later today. Were also keeping an eye on shares of apple and alphabet. Theyre both up ahead of the open, particularly alphabet. The tech giants reported by bloomberg to be in talks to license googles a. I. Engine, gemini. That would be for the iphone. And oracle shares are surging more than 10 in just the last week. Again, why . Well, a. I. Progress. Ceo chuck cisco shares. Cisco shares. S cisco. You know, i dont sometimes, jim, you read it if you put it there, he will read it. And youre right. And oracle had a great week, and shes on the board of disney. Lets go there. Yeah. Thanks, guys. I was, like, what . Hm. Yeah, we got Chuck Robbins coming up. Jim, youll partake in that. Theyre closing the splunk deal so thats coming up
Bloodbath, the media jumped on it suggesting the blood will flow if biden wins, they got it wrong we will play the tape trump is referring to disruption in the current industry if he wins. The present is reportedly upset in his low polls and is been yelling at his staff he cannot be happy with this either. An oped in the Washington Post asking Vice President harris to step aside for the good of the country, lets get to the markets, a big rally at the opening bell for tech stocks on the nasdaq the dow is up 73 s p of 38, look at the nasdaq 221 points to the upside at the opening bell, that is a rally despite interestrate holding at higher levels the tenure is well above four and a quarter percent, for 33 in the twoyear above four to half percent, 473 this morning, bitcoin as job lot 70000 no big selloff, 685 at the moment. Oil above 80 a barrel 81. 47, gasketing close to 3. 50 a gallon, 3. 46 as of now in diesel 4. 02. Politics the president leaves the white house tomorrow for campaign
Expecting from that Earnings Report out tomorrow. Im melissa lee, this is fast money. On the desk tonight, tim seymour, bono win, dan nathan and chrisser is roan we start off with the wild ride on wall street today the dow is down 466 points at its low but finished 160 points up the s p 500 shedding half a percent. The vix mirroring the markets move, hitting 18 for the First Time Since may before pulling back some, still higher, closing above the 16 mark. But one sector stayed under pressure all day, than would be software stocks. The igv closing below its 50day moving average for the first time in more than three months one big drag on the group, data dog, the Cloud Computing company slashing guidance, seeing shares drop 20 thats its worst day since the start of the pandemic. So, did the news pull a pal over the whole a. I. Trade add that into your action, dan that was trouble its less about a. I. And more about a rising tide lifting all boats. When you think of the consumption space
Issue. Ticket prices, travel, accommodations, all expenses well talk to the ceo of vivid seats about all of this, kelly. But first, a check on the markets which are recovering after some worrisome early trading. The dow is down 466 the lows and little shy 268 right now, pretty big volatility in both stocks and in bond yields which went below 4 before reversing a little above that level. While Everything Else is down, healthcare names, some of them, bio tech are booming lily is soaring on positive results fueled by its obesity drug push. More on that in just a bit with the shares of almost 14 same for novo nordisk. The banks, moodies cutting the ratings of ten u. S. Banks. Leslie picker is here with more. These we call them the big regionals and maybe some of the trust banks. Is that right . Thats exactly right. There are 27 ratings actions in all, all along this same thing Interest Rates likely to remain higher for longer. Amid quantitative tightening assets, loans and liabilities depo
Rink. Rivian revved up after its big reveal. Tim seymour, dan nathan and guy adami with us. President biden expected to announce a slew of policy proposals on the agenda, a call to increase the minimum Corporate Tax rate to 28 and the rate and taxes on buybacks and crackdown on junk fees from credit cards to airline and shrinkflation. A proposed 10,000 tax credit for firsttime home buyers in an attempt to boost the Housing Market. Could that actually heat up that market . Lets bring in diana olick diving into this one. Diana . Melissa, Housing Affordability is still near a record low. Just 38 of both new and existing homes sold in the Fourth Quarter of last year were affordable to families earning the Median Income which is the 96,300. Home prices in january also hit another record high and showed the biggest annual gain in a year, so the Biden Administration is unveiling a plan to tackle Home Affordability and first theyre urging congress to pass a 10,000 firsttime home buyer tax cred