Dollar. Shocks are shoveling and there is a haven did, signaling some uncertainty as we wait for some sort of a fiscal stimulus package around the pandemic out of d. C. Taylor what are we seeing in sector level in the first two weeks of august . Abigail it the cyclical field. Yesterday it felt Like Technology was gaining, but so far in august, the top sectors for the month of august are cyclical sectors, such as industrials, energy. Consumer discretionary is in , but the there reopening sectors are taking gain and also giving the idea support, the dow transport up until yesterday had been up 11 days in a row, the longest since 2010. That is the one index gaining come up 1. 3 . Investors hoping there will be a promise of a reopening ahead. That is what some sectors in the stock market are telling us. Taylor that is bloombergs Abigail Doolittle. We are going to go to the chief washington correspondent, Kevin Cirilli. He is standing right at the white house with the landmark deal with isr
Its worst 2nd quarter period on record for the previous worst quarter contraction with a 10 percent drop during the Eisenhower Administration in 1958 but these records dont date back to the Great Depression while hopes one day old on that v. Shaped recovery is Consumer Spending which actually accounts for about 70 percent of Economic Activity it brought down the g. D. P. On wednesday the Federal Reserve chairman powell warned of the lasting damage to the economy of this expectation. Even with the improve Economic News in may and june overall activity remains well below its level before the pandemic and the contract contraction in real g. D. P. In the 2nd quarter will likely be the largest on record. Now this comes as republicans and democrats are working on the one trillion dollar relief package on a looming friday deadline but it appears lawmakers are far from an agreement and they continue to clash during the stalled negotiations. 20 team boeing has had one disaster after another wel
Plunged 32. 9 percent on an annual basis in the april through june quarter this is its worst 2nd quarter period on record for the previous worst quarter contraction with a 10 percent drop during the Eisenhower Administration in 1958 but these records dont date back to the Great Depression while hopes when told on that v. Shaped recovery is Consumer Spending which actually accounts for about 70 percent of Economic Activity it brought down the g. D. P. On wednesday the Federal Reserve chairman powell warned of the lasting damage to the economy of this expectation. Even with the improve Economic News in may and june overall activity remains well below its level before the pandemic and the contract contraction in real g. D. P. In the 2nd quarter will likely be the largest on record. Now this comes as republicans and democrats are working on the one trillion. All a relief package on a looming friday deadline but it appears lawmakers are far from an agreement and they continue to clash durin
That brings you up tonight more from us in a bad cough and. This is boom bust the one business show you cant afford to miss there montevideo going to washington coming up the Worlds Largest economy post its worst order on record well thats what this does to the hopes of that recovery in the u. S. And around the globe on the trouble coming as the maker of production claims will have to be slashed after a 65 percent drop in revenue we have a lot to get to to lets get started. On thursday the u. S. Commerce department announced that the United States economy g. D. P. Plunged 32. 9 percent on an annual basis in the april through june quarter this is its worst 2nd quarter period on record for the previous worst quarter contraction with a 10 percent drop during the Eisenhower Administration in 1958 but these records dont they back to the Great Depression wall hopes one day old on that v. Shaped recovery is Consumer Spending which actually accounts for about 70 percent of Economic Activity it
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