Its up about 0. 3 today the dow as we said up over 1 at session highs. The sara crazy to see the s p 500 just wiping out all the pandemic losses the todays show, clorox is a standout winner. Up more than 50 so far this year people stock up on cleaning supplies but can the company keep up with the huge demand for wipes and disinfectants . Were going to talk to the ceo plus, well talk renovations, Small Businesses and more with the ceo of Angie Home Services of that company reporting earnings after the bell. Along with iac, tilray and many more names lets focus in on the big stories that were watching in this final hour of trade mike santoli tracking todays market action. We have the latest on the increasingly complicated stimulus discussion in washington and kate rogers has the details on a scandal involving former mcdonalds ceo steve east easterbrook. Mike, start us off with the Broader Market and the gap were seeing. This is a good illustration of how a broadening out of the market be
Welcome to squawk alley. John fort has the morning life watching carefully as both apple, tesla, and the thatnasdae dipping into the red lets go to alex sherman tiktok is suing the u. S. Government over effectively banning the app come september 15th tiktok released a blog post right now explaining the rationality behind the lawsuit against the u. S. Government. There are two administrative actions that the Trump Administration has taken the fist would effectively ban the app by september 15th. That is the one that tiktok is challenging saying it has been preventing due process it has worked with the government for almost a year trying toics plane that it is not, in fact, a National Security threat. Their parent is bite dance that is what this has all been about over the past several months the order demands that bitedance die vest tiktok by october that means the sale talks with microsoft and oracle will continue tiktok has at least challenged the effective ban that takes place next m
Then another lock down it will not cut its schedule branding the decision regrettable. The low cost airline posts a smaller than expected loss for the First Quarter. Acquisition, sap shares jump after the German Software giant said it will float qualtrics just a few years after buying it for 8 billion republican lawmakers reach a deal in the next relief bill in a move that will handout payments as well as commit to 70 wage replacement helping to push u. S. Futures higher in early trade. A very warm welcome to street signs we closed out with the flash pmi for july which showed the recovery across europe and now we have the data coming through. The german business index. The german business morale rises in july. Thats the headline. The Business Climate index came in at 90. 5 that was ahead of forecasts. Economists were looking for 89. 3 thats 90. 5. The current condition index, that came in at 84. 5 in july that was a touch below expectation. The current index slightly below but the Busi
That. Right i think that the shock value of that is maybe more, lets say, the bark versus the bite i think that theres a belief that we could get a lot a much better picture of what the Health Situation is going to be like in november so its a little premature to be able to say what the president is saying and its certainly contrary to what he was saying about the idea that we do have a vaccine very soon. If we have a vaccine very soon why do we have to delay the election and why does it have to be crooked i think you cant have it both ways you can have the vaccine come out and have a gd election or you must know that the vaccine is not going to come out and you will have what he just tweeted but whatever it sows chaos and chaos is bad for the stock market. We did get some promising vaccine news out of j j as they move to human trials in the u. S. And belgium the earnings which we will talk a lot about this morning are basically shaming the analysts, virtually surpassing the entire ran
Down again that reopening trade getting slammed. You can see that in the airlines there all taking a hit today later, check out this ride shares of avis budget, up 300 from the march lows. Getting a boost in the red hot used car market. The ceo will join us power lunch starts right now thanks energy and financials are leading the declines today they are down way more than that stall worth technology sector. Bob has more on this Early Morning reversal same story. Teches still out performing energy, financial, other cyclicals. Not a good start to earnings season big miss on earnings and very poor guidance. Walgreens has not been a good stock. Thats real problem. I think they may be basicing market mentality banks same story Huntington Bank was 5 goes to 12 its back to 8 again. Its an invertsed v. Whats moving the market theres five things. Is the reopening going well or not. Lets call it bumpy. Is stimulus coming maybe theres less good news on treatment advancing. Thats good news elsewhe