Microsoft both helps to lead higher the vaccine for 1. 5 billion, a top analyst will tell us what it could mean for that stock. Power lunch starts right now bob pit sannist is watching them tlim toward new reports theyre trannen bond yeels, a very, very heavy week of auctions bob, lets start with you. Were not doing it in the way we thought, weve been having this rotation go on, not really happen today its largely tech. Remember on you banks, energy, stocks, industrials have been leading recently health carele lagged a bit russell 2000 is not doing much here, either qualcomm and broadcom with new highs. Apple is not far from a new high its not just tech, there are some consumer names consistently holding up kimberlyclark, for example, colgate, target, lowes, but dont kid yourself this is still tech driven. All of the big regional banks are down 2 , 3 or 4 . We did it yesterday we are not far from that, folks the intraday high, just 3393 well see what the final hour does to the market t
Plus, oil markets squeezed again as russia and saudi arabia send more shockwhataves throughe market and china throwing more stimulus at the private sector to boost the struggling economy in the recovery. It is friday, august 4th, 2023 you are watching Worldwide Exchange here on cnbc good morning welcome to the show. Im dominic chu in for frank holland. Lets kick things off with the u. S. Stock futures after the s p and nasdaq turned in a Third Straight day of losses, futures right now showing a brighter picture, at least for now. S p implied higher by 15 points. Dow jones industrial average implied higher by 55 nasdaq up 83 a tech recovery may be in the works. This is ahead of the july jobs report economists are expecting employers to have added jobs at the slowest pace since december of 2020 at just 209,000 net new jobs for the month checking on the bond market. 10 2year yields yields on each up 5. 5 to 6 this week alone. The 10year treasury is 4. 91 . Slightly lower the 2year treasur
The push upward is materials, energy, financial. Techolar downward has been and discretionary. The stocks working are those within that energy and materials group. What does this have to do with the dollar on the climb . The lowest in about nine months. When you glance here, the only one down is sugar. Highering else trading as we see that continued dip in the dollar. Betty surprisingly, it has been on tech. Julie that is that drag we have seen. Ibm coming out with a missed estimates. Those shares have been down and some of the other large cap tech share. Act has been the balancing throughout the session. Mark Hillary Clinton has lost seven of the last eight primary or caucus is to senator bernie sanders. Now the democratic president ial frontrunner is hoping to regain the upper hand. This is clinton is favored in the new york primary. Is counting on his home state to provide a big boost to the republican president ial nomination. Surveys show Esther Trumbo with johnbledigit lead over
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