From washington. Of blake, we start with you, my friend. Reporter connell, the headline over here in washington is that the white house has increased its offer for a revised covid19 relief package. A Senior Administration official telling me the new number is, give or take, 1. 8 trillion. The white house has come up from the 1. 6 trillion range that it was previously at. Larry kudlow revealed the news on fox business earlier this morning saying there was an oval office with President Trump, treasury secretary Steve Mnuchin and chief of staff mark meadows in which the president gave the green light on the new offer. Mnuchin held a phone call with nancy pelosi this afternoon to go over the offer. However, the goalposts for President Trump have been shifting, because as that employees i pelosi hi mnuchin phone call was happening, the president was on the phone with Rush Limbaugh saying he wanted even more. Listen here. I would like to see a bugger stimulus package, frankly, than either th
Join us. He talks about the dangers of big technical and the dire need for, yes, regulation power lunch starts right now hi, tyler. A whip saw market as washington continues to chase headlines from washington. Bob pisani has the latest on the moves. Do we have a stimulus pamann pacqui pacquiao package . No do we have an s p package . No the market believes the market will hold up well. We have new highs on target and costco and lbrands, believe it or not ande etsy has hit new highs recently fedex, some of the shippers, these are big Global Industrial companies that are continuing to hold up on hose thpes were goio eventually come out of this. I want to show you the industrials, xli here, that tells you the cyclical rally has some legs receipt now. This hasnt lasted often i dont want to go over my skis on this but u. S. Bank corp, highest levels, thats quite a move were seeing we go all the way back to the earlier part of the year to see levels higher th than that. So good news hopes fo
Its been a wide range today. Former citigroup ceo sandy weill will join us to discuss the water shed moment at his former company which just became the first major u. S. Bank to appoint a female ceo plus, well speak with jason robins from draftkings ahead of tonights nfl kickoff. And we are counting you down to some exciting earnings after the bell today including peloton, oracle, and chewy. Two out of three are big stay at home winners plus an interview with chewys ceo as soon as the numbers hit the tape lets get straight to the market in the final hour of trade another volatile session on wall street mike santoli tracking the action for us what caused the weakness here in the last few momentors so . That morning rally was really limp it did not pass any of the tests. It stopped where yesterdays highs were nobody had any faith this was really going to be upside momentum then you had a rally in the treasury market. Yields got compressed a little bit. And the dollar is also been higher
3 yesterday so it is the year to date momentum names in technology and large cap growth that are taking things there cloud stocks, the Broad Software group, ecommerce, all those baskets are up 2 or so today, so you know, at a time when people are unsure about the fiscal package getting through and maybe what the pacing is of the domestic economy, kind of the old reliable move is whats working for now but as you say, the Broader Market is kind of on the softer side for the start. Julia, a bunch of Technology Names that have dipped their toe or maybe a couple of legs into media also higher this morning looking at amazon, up 1. 5 , alphabet up a little bit more than that. Netflix itself, which is all in on media, of course, up better than 1 . That trend continues and of course, we have to point at tesla, those shares up about 5 and just look at tesla, up 290 year to date, john, just really striking in the context of Everything Else today. Yeah. Needhams chris wrestler is going to join us
Cluster is the Health Department had to find a cluster is 3 or more cases in a given location over a 2 week period now there are 4 new clusters a total of 33 people have tested positive for coronavirus all or costco employees. Lets take a look at the video and that will start off in sunnyvale where the Health Department had confirmed that the costco location there on sunday bill station in sunnyvale ahead 9 confirmed cases as of yesterday. Well it turns out there are 13 cases. We heard from the kron 4 news viewer about a handful of possible cases at the gilroy costco turns up that jet that viewer is correct. There are 6 confirmed cases in gilroy lets take a look at a graphic in well break down all of these cases for you beginning in Mountain View where this first started to turn up back in the middle of the month july 15th in the 27th. In Mountain View 6 cases confirmed at that costco jump ahead to san jose the center road store now 8 cases between july 17th and the 22nd. At sunny vill