Year high as the coronavirus layoffs start to show u. And Oil Rebounding crude on track for its biggest oneday gain ever. Absolutely. Its up 26 though still down 17 for the week as a whole. The dow was up 500 points. Now only up 235. Lets focus in on the key stories were watching mike is tracking todays Market Action e meg is covering new developments from the Pharma Industry and kayla has the latest on proposed bailout, but mike, lets kick things off with you. Thanks. Obviously seeing a general pause in the intense selling weve seen perhaps had a wave of that liquidation pass us by and the big old Growth Stocks are leading the way. That hasnt changed through this whole sell off especially sed soed if you look at a one yore chart starting with the nasdaq, 100 the leader, s p 500. The equal weighted verse then the small cap russell 2000 you see that distinct tearing on a oneyear bases in terms of what has worked better if you just focus in on the last month, by the way, one month ago to
Out to new highs deedra bosa has details on alphabet. Larry page stepping down as alphabet Ceo Sundar Pichai ceo both of google and alphabet in terms of day to day unlikely to see major changes which is why you may missouri not see a lot of change in the alphabet stock. Under google umbrella pichai ran advertising cloud devices, software he has been ceo since august of 2015 since then alphabet stock has soared relative broad are market but underperformed wig tap peerings remember the split from alphabet to google. Alphabet was the place where the moon shot including way missouri, selfdriefgt stores internet balloons and health care projects. Perhaps the question now is what happens to those moneylosin initiatives . Will we see more financial zmin under pichai and ruth porat from wall street mo has been known for financial dplin. As pichai steps up does he step away from those and the traditional businesses like advertising paying for them. Deirdre bosa wove been tweeting over this news
Good friday morning. Welcome to squawk alley. I am Carl Quintanilla with jon fortt at post nine of the new york stock exchange. Morgan brennan is in simi valley at the Reagan National library we start with jobs numbers, sending stocks surging, near session highs, up 303 on the dow, flirting with 1 gains in the session. Joining us to morning, mike santoli covering the up swing in the best of both worlds. The market was craving a good number, good news is good news no implications for the fed trying to restrain things. It is interesting, you look at the week, we did a v in psychology and the stock market, a week ago yesterday hit the alltime high, 3150 in the s p 500. We ran into ism numbers that challenged the rally u. S. Growth close to 2 . Weaver an overbought market, little shakeout. Now it seems like numbers since then restored that premise that things are Getting Better or never got that bad as we thought late summer. The question now, we return to the highs. Still have valuation r
Morgan brennan, jon fortt at post nine of the New York Stock Exchange record highs all around the board. Dow, s p 500, nasdaq, but well begin with news regarding ford forward looks to do apples to apples with tesla. Elon musk tweeting a response, quote, bring it on and calling into question the physics behind musks video of the tesla towing the ford f 150. Is this really where we are . My mom might be watching, i am going to keep it clean, this is a classic measuring contest if ever there was one. Morgan, do you know of any woman watching this tug of war with any kind of great interest mary barra is probably not even watching this. This is classic like testosterone driven man versus man type thing. The nerd truck narrative lives. The truck will be sold to nerds, right . Thats the niche product theyre aiming for i wont call it nerds, but if you look at the numbers, the number two, two top states for electric vehicle registrations, use that as a proxy for tesla, california and new york.
And, antitrust allegations. An online merchant accuses amazon of using expensive the just six to move good, a tactic that could be driving up consumer prices, but first to our top story. One of teslas detractors just got twitter burned by elon musk. After he lashed out, the tesla chief offered him to take a tour on the companys facilities. Discuss, dana hull joins us. A little of the backstory. This has been a longrunning battle. Out anuarter he puts investor letter and e line loves this, looks for this and sent a tweet expressing sympathies. Tear,las stock is on a 40 over the last month. They have to explain to investors how they got the thirdquarter wrong. Tesla stunned everybody with a profit. Remembering something that happened earlier, signofft Elon Musk Twitter . It is important to know that einhorn claps back. He responded and said i will take your offer of a tour of facilities. Lets start in buffalo. Buffalo is where tesla builds its solar panels. The state of new york wrote do