Safe with investors going allin on the kind of stocks theyll be very sorry about if the good news for the past 24 hours fails to payoff. And thats how the dow surged 912 points the s p rocketed up 3. 15 . And the nasdaq 2. 44 too many of the socalled pro covid stocks you know what i mean when you look at pictures of lines at bars in ohio or wisconsin this weekend, im sure you saw them how about the packed beaches theres none left in jersey, and florida. Its clear america is reopening for business theyre putting in new rules and regulations to keep people safe, social distancing and happened washin hand washing people are ignoring them talk about better to be sorry than safe. Living in new york i know the virus is contagious. I hope the rest of the country doesnt have to find out the hard way this is reckless, but seeing the lines did make me more confident about the economy. It did seemed somehow good even though i know it could be dangerous second, we got a look at a totally reassurin
Be more big moves next week. Oil staging another big rally today. Yesterday traders said it was mostly Short Covering. Could this be the beginning of a real rebound for the commodity . Weve got rbc commodity guru helena croft joining us live. We have bob pisani tracking the action here at the New York Stock Exchange. Kate rogers at the nasdaq and jackie d at the nymex. Finally more typical august day. There is a little fireworks in the energy space. S p 500, a narrower range, about 15 points. That would be more than normal on a typical day. Compared to what weve seen, other than a slight swoon in the middle of the day, its been fairly straight and narrow here. I want to show you what markets are doing here. Well call the trading range narrow. Volume on the heavy side. Not as heavy the prior four, five days. Heavy for a day in august. Breadth 32 advancing to declining. Thats been holding other than a droop in the middle of the day. Volatility is flat. Look at names like mid state petrol
Good morning. Welcome to squawk box. Im Andrew Ross Sorkin along with joe kernen. Becky is on assignment today. Our newsmaker of the day, Morgan Stanley ceo james goreman will joan is live at 7 15 eastern time. Weve got a lot to discuss with him about the fate of that bank and wall street. In the meantime, lets get you up to speed on the days stories. The big one, china aes economy rebounding in the final quarter of to 12. Growth to 7. 9 , up from 7. 4 the appreciate quarter. Economists do caution, though, that a chinese recovery is likely to be gradual and weak to drive a global rebound without improvement in the u. S. And europe. Also, the fate of dozens of hostages in algeria is still unknown. The algerian military stormed a gas field where the workers were being held. Six people if not more are believed to have been killed. A team of experts from boeing and the aviation experts are arriving in japan today. Today the japan Transportation Safety board released a picture of the batter
Principal Financial Group Inc. lowered its position in Penske Automotive Group, Inc. (NYSE:PAG – Free Report) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,592 shares of the company’s stock after selling 452 shares during the period. Principal Financial Group Inc. owned 0.11% […]