Theirx joins us to share answer to the new competition. And, the bitcoin rarely continues but for how long . But first, tech shares leading the market higher as more covid Restrictions Mean more staying at home for the foreseeable future. Scientists are making to make advances on the vaccine front but there is still a long winter ahead. Joining us now, Abigail Doolittle taking a look at the Market Movers of the day. Lots of conflicting strands here. How did at up did add up . We had the bearish news yesterday about Public Schools in new york city closing server restrictions on the biggest schools in the u. S. Stocks yesterday sold off. Today . Not so much. They were basically flat on the day. At the end of the day, the nasdaq 100 climbing by three quarters of 1 . We once again have that disconnect between stocks and the reality that would seem to be concerning about the narrative seems to be stocks are looking forward six or nine months on the vaccine starts to get into the system a bi
59 minutes left to trade, kayla. And that green screen is not something we have seen in a while. We have a big show ahead today on closing bell. A big deal for big steel well talk to the ceo from Cleveland Cliffs and his outlook on the economy later, sneaker startup all birds scoring 100 million in fresh funding. Valuing the company at 1. 7 billion the coceo will join us to tell us how his Company Plans to spend that cash and well have that later on in the show. Lets focus in on the big show were tracking to days rally. Theyre covering the latest tensions in the tech cold war with china start us off on the Broader Market and what youre seeing behind the scenes today. Yeah. Market making the case that last weeks lows and got some traction near the levels its not Something Else tachlt a look at the s p 500 year to date all the indices have a similar look with different mag any tudz we were talking about this level for a long time. This is where we hit the lows a few times last week aroun
The nasdaq by 173. There are reports of a new vaccine in the works word of anything setting back the virus is great news. Over the long weekend, people were out summer is around the corner. People are starting to feel that and that is showing up in the market again some big gains the last week of may treasury gains pushing up. 10year up 0. 7 . Right now sitting at 0. 695 . The big news is whats coming from that Biotech Company weve been talking more about. Absolutely. Hope everybody had a great weekend. U. S. Biotech company novavax said it started the first human study. The initial results they are saying in july the marylandbased firm saying upon completion of phase one, phase two will be conducted in several countries include ug the United States. That stock up more than 20 premarket but really giving rise to markets across the board as well as to what becky was saying all of the folk fols out and ab this weekend giving some optimism at least for a period well see. Maybe there is so
Suddenly very risk off, with the s p 500 and dow down. The nasdaq is down one point 25 for the worst performance. , dow jones news reporting it is facing criminal and civil scrutiny into years of 77 max Quality Control lapses. Once again, reporting that boeing is facing criminal and civil scrutiny into years of 737 max Quality Control lapses. As we know, boeing plays a part in many of these indices, so it is definitely weighing on those in the last few minutes, erasing most, if not all of its gains. In numbers tomorrow, which is worth bearing in mind. Inopean banks are firmly focus. Loan loss provisions a big part of what we are seeing here today. , one of which is results out today. What thee a listen to banking ceos we have been talking have had to say about the economy. Greatres obviously a degree of uncertainty around that range. We saw 3 billion of expected credit losses in the first quarter, up fourfold on the charge from q4 of last year. 7 billion to 11 billion range is an estim
Merger deal with pfizers generics unit. And disney domination. The studio breaking an alltime record for annual box office earnings, and of course, it is only july. So, theres a lot for investors to digest this week with stocks at record highs. Jim, coming off of those on friday, you were out, but a lot happened good to have you back. Thank you the starbucks calls kind of the emblematic of what happened this quarter. Starbucks had run big. So you had to figure, no matter what, how could it really move then it goes up big dollars because its better than expected, better than feared what were seeing are companies that we were worried about because stocks have run, and then the stocks do okay. So, this is a short sellers dilemma. Lets say youve been betting against companies because you truly believe theres been an earnings deceleration. If earnings just stay in line, the stock flies. If earnings are a little bit below, the stock doesnt do anything. Right. So, theres just this kind of bid