Blake burman is watching latest coming out of the white house. In fact were expecting remarks in a few moments from the president in the rose garden. Before we get to that, it is Lauren Simonetti on the market rally. Lauren . Lauren a lot to get through. You dont want to complain. You have a 500point rally the day after a Holiday Weekend but what took the market off bigger levels, the dow hit 25,000 for the First Time Since the lockdown began in early march. The s p had topped 3,000. Those levels did not hold on a Bloomberg News report that u. S. Officials were considering sanctions on Chinese Companies and chinese officials for their handling of the hong kong situation. So still a broadbased rally but we came off those levels as you can see. The nasdaq had been at its highest level since february 21st. There were hopes as the economy does reopen, as we noticed, this weekend, memorial day weekend there is hopes on the medical front too. 10 vaccines are currently in human trials. Novava
Three months, yesterday. So well sort through it all and some detail with fox Business Team coverage set up for you blake burman at the white house, he has news on the president. First throw to Lauren Simonetti on these markets. Lauren it was a weird day. It was certainly a volatile session, so the morning you had an 800 point rebound after yesterdays 1,800 point selloff we saw it evaporate by the afternoon and then come back again so late morning the Federal Reserve said its worried about a slow return to normal and permanent job loss and you can see when the market came down and then in the afternoon the cdc said a spike in new Coronavirus Infections may require prevention efforts like the ones we saw in march, so very volatile and what that volatility did was it pushed the vix, the fear index at one point above 43. At the bell this is the gains that we saw the Dow Jones Industrial average closing higher by 477 points the nasdac up 96, s p up 39 for the week, not so good all three ma
Points. But as more people go back to work, could the sudden tech spending boom that was triggered by the workfromhome movement, could it disappear as quickly as it began . Chairman and ceo of adobe, this is a Favorite Software company of small and medium sized businesses, he is here, first on fox business, on whether we all kind of borrowed from future tech spending to ramp up connectivity and what it might do to tech stocks coming up. With the memorial day holiday soon upon us, will americans give us that once in a lifetime visit to europe or somewhere else for a Summer Vacation closer to home . The ceo of the Worlds Largest travel Marketing Company says one hotel in particular thats announced it will reopen is proving to be the biggest vote of confidence the nation could get. Which hotel and where it is, coming up. Plus, Hedge Fund Hot dogs, pandemic rebound stocks and charlie breaks it on directvs future at at t. Less than an hour to the closing bell, lets start the claman countdow
Edward lawrence will have airline news in a minute. But, lauren, we start with you. Lauren all right. Well the good news today, guys the rally we saw all day held into the close. Look at that, the dow up 1 1 2 . The nasdaq up 2. 1 . I will give you three Major Regions for the rally today, you touched on some of them. All 50 states eased their lockdown restrictions. The fed. We got the minutes. They are discussing ways to provide even more support to the economy. And tech, once again in the drivers seat. Take a look at amazon and facebook shares. They did hit record highs. Did they close at record highs . Facebook, yes that is a record high. Amazon, oh so close. Facebook though, they announced a new on line marketplace that can compete with amazon and others. That is why you see a 13dollar gain for the stock. Dow positive for the month of may. Nasdaq and s p 500, leadership was broad. Again it was in energy, financials and materials. Much of the power behind the rally that we saw on mon
The s p and nasdaq shaking off earlier losses closing near the highs of the day. There is optimism out there about a economic recovery and also about hopes for a vaccine. So, optimistic day. We will get to the launch. Well spend a lot of the hour on it. First fox Business Team coverage of our top stories. Lauren simonetti on the markets for us, blake burman in washington who has the latest for the president who is in florida for the launch and Kristina Partsinevelos joins us with news on disney. We start, blake, with you. Reporter connell, melissa, speaking of that launch who wouldnt want a front row seat to it. Exactly where President Trump and first lady, the Vice President , section lady are right now in florida in advance of what we are expecting to be the historic launch about 31, 32 minutes from now at the Kennedy Space center. President trump taking a tour there. He was asked what his message is for those two astronauts who will be aboard the spacex rocket going up to the Intern