Along with hemt care and energy. That was quite a turn around on the banks ahead, wall street heavy weights are taking sides on the market david miller and david tepper warning about the historic overvaluation. Bill miller announces saying they see market values here. Were going to ask billionaire mark cuban which side he is falling on right now plus, a rare interview with william demchak. Hell discuss the banks decision to sell its stake in blackrock. They own 22 and its created quite a business since they sold lets focus in its a great booking and i cant wait for the interview as weve been discussing. I love all the people you book from nap foods to nikes, but this one is creme de la creme from sarah try to get one youd be interested in. 59 minutes left of trade lets focus in on the big stories. Mike tracking todays volatile market action. Phil has an update on delta. Kate has a look at what mastercard is say iing about Consumer Spending. Mike, start us off with the Broader Market, w
Simonetti with the markets quite a day on the markets. Lauren doing fast math i think the swing is 830 points. Volatility is back. Nasdaq not quite positive for the year but close. Nasdaq choppy session, up 1. 1 in the end. The dow was down as many as 458 points, as near nearly three million americans filed for Unemployment Benefits to the two month total, 36 1 2 americans out of work. The market started popping when President Trump said a Covid Vaccine is likely by the end of the year. The dow up today for the first time in four days. The pharmaceutical industry however, more cautious when it comes to a vaccine. The novartis ceo says most likely well not have one until middle of next year. Sanofi amending the pretty convertal comments that the company u. S. Would receive the vaccine first. The company now says it would be available to all countries at the same time. Some pharmaceuticals were down today. Oil closing at near six week high. Look at that 27. 59. The banks surging really l
How low can it go . Power lunch starts right now well explain. Thank you, tyler as markets lose their gains on coronavirus headlines, we have all the angles of this story and the selloff today covered for you. Meg terrel has the latest on the comments that took down the rally. Bob and Rick Santelli following the volatile moves in the stock and bond markets ameamon javers has the white hoe response. Update officials saying its fair to say were on the cusp of the pandemic according to a bloomberg report early this afternoon. Head of the fda center for buy logics evaluation and research said there is significant concern given the virus has spread to six continentcontinens we saw the first case confirmed in latin america that country getting a raised travel advisory from the u. S. State department based oen the sped of covid19 there dr. Marks saying the time lines of Vaccine Development mean one wont be available before the initial wave of the disease passes moderna stock soaring it delive
Dow and about 11 higher than the nasdaq. Lets check in with our reporters. I would like to take a look at one area of underperformance, china tech. Down 2 , lower on the open. But, around the time of the scoop and those headlines, the fact that tariffs will still be in place after the president ial election. Netnet, the worst day since september. Even to the untrained eye, this is somewhat absurd. Unlike u. S. Stocks, not going higher. There was a period of time when these were above the 200 day moving average. Over the last few months, gaining well more than 25 . A very overextended situation. Sometimes, these things go further than you think. There is good reason to think that we will see a reconnection at some point back down to the 200 day moving average. One group that sort of weathered this mini selloff was transportation stocks. Dow jones transportation average gained about 1 . It broke out to the highest level since october. Delta airlines gain a than 3 . Earnings came in well
It is down a quarter of a percent today. 25 today. If you look at the stoxx, you get a better picture of what is going on macro lies. Trying is threatening to retaliate on u. S. Measures on the hong kong in the house, which might proceed to the senate. That is some semiconductors lower, down. 4 in the lira has a volatile day. Turkey is trying to put in place some comfort blankets, if you like, to the u. S. Sanctions in place, not allowing people to short seven banks and so on. It is a continuing situation as the secretary of state and Vice President traveled to turkey today. Guy turkish stock market down by 1. 72 and the banks remain in focus. European markets equity, volume is extensional. 1. 28. Through 128 vonnie lets get straight to brussels. We have maria who has been keeping an eye on events and it is a case of c he said she said. We have reports that the dot agreed to something and then they came out and denied the reports. Give us the picture as it stands right now at this mome