And welcome to power lunch. Im melissa lee. Nasdaq barely holding on up about 2 wi8 points joining the dow and s p 500 which are negative etf that tracks, hitting yet another intraday alltime high and ivb is rally within health care it is on pace for best week of the year esperion, novocure, biggest leaders right now. Thank you we will find out right now which car company has the highest quality of anybody fi phil la boes with that news. Phil the latest survey on initial auto quality, surveying about 80,000 new vehicle buyers. This is what they found. Good news, reliability, quality, people surveyed after owning the vehicle for three months, never higher in all the years theyve been doing this survey 27 of 32 brands improved quality ratings. Top one, kia, for second straight year, ranks as best followed by genesis, which is luxury brand by hundred day and porsche were the top three bad news, people not happy with the Driver Assist sec knotechno are seeing Adaptive Cruise control, lane
Crisis, or fear of rate hikes, or fear of inflation, or deflation for that matter. It may seem odd to talk about fear on a day when the average is basically me and erg higher for most of the day. Nasdaq edging up thats because the market is in fear of one thing, it lives in fear of amazon specifically the power of amazon over the whole industries. We saw Health Care Stocks rally again today. Every stock in the group of the drugs, biotechs, medical devices and especially insurers and hospitals, which makes me think that they rallied because the bill is written. Looks like it might be too draconian to pass. Theres no universe for the hospitals to make more money under a plan that slashes medicaid and causes millions to lose their insurance still, though, i think the undercurrent, or i should say the undertow of amazon is such a dominant threat to so many consumer related sectors, in a consumerdriven economy, that its sinking whole swaths of stock once again if your companys in the crossh
Well. So an accident investigation is underway and we know the closure points as well. Theyre forcing off all traffic right around garden road. The accident happened near route 40. Thats exit 39. So a little bit a ways a way. Onceou get off you can take a right on garden road, head down to route 47 and it will take you pretty much directly parallel to route 55. Once you head up to route 322 you can make a left and then you can get back on to route 55 northbound around exit 50. So thats your best bet for alternates to get around the scene and ill be watching this all morning long. Back to you. New from overnight a minivan is repossessed with a 7yearold girl inside. This all unfolded and police are now considering filing charges against the repo man who towed the car and the childs mother. Pamela joins us live from svu. Tell us what happened. Reporter the woman who drives that minivan works at a pizza shop. Her 7yearold daughter was sleeping in the back when a repo man who had been track
Renewed megacaps. Weakness in technology butt a dumper on the rally if financial shares which were hire following the results of the stress test we told you about last night. Today, the dow jones indus average fell 167 points to 21,287. It had been down more than 250 points midday. Nasdaq drod dropped 90 and s p 500 was off 21. Although the pullback may look concerning, it may want be as bad as it appears. Bob pisani explains. It was anything but a breezy summer day for the stock market. The dow plumets as much as 257 points before ending down 167 points. Largely weighed down by apple. But for the moment, this sunt look so much like the start of a broad eer sell off as a healthy rotation. Investors are moving over big tech names like microsoft and apple and google. Theres some reason for that. Bank stocks for example bounced the cap a tall plans of all 34 banks under review in the second round of the bank stress hasnt happen td since 2008. Theyre raising all of the dif depds. Chevron t
Been telling you all evening that we were saying this snow could roll in. Ive gotten some of the latest sub dates, some areas have received over two inches of snow. This is just the beginning of this system. Those blue areas are seeing about half an inch per hour. We are under winter storm warnings and tell tomorrow night and winter storm our north. You can see the snow flying back and forth, especially on those off ramps. Take your time and go slow. Currently in milwaukee, slow traveling. That is smart. If you dont need to travel, i would not. 22 degrees. Road conditions tonight through sunday will not be as bad, but the side streets and driveways are where it is going to be bad. More heavy. I will have more snowfall totals and how tomorrow is panning out. That is coming up. Adrienne we will check back in with you. A long night ahead for snow plow drivers. In milwaukee, road crews started at 2 00 this afternoon putting down that layer of salt. Ben hutchison joining us live in milwauke