Welcome to power lunch, everybody. Stocks are just off the lows of the day. The dow down b about 200 points. Still on pace for its Third Straight session in the red with apple the biggest drag and gold reaching 1600, its highest level in seven years and utilities leading today on pace for a record close the second best performing sector this year next to tech up 9 for more on where the money is move ng todays market, lets get to bob pisani at the new york stock exchange. Hello, again. Much of damage is cue to apple and theyre worried about krohn kro coronavirus. Exxon mobil, another new 52week low there and also were seeing some of the big global industrials like caterpillar, 3m pretty modest response leon cooperman was saying the the biggest risk to the markets is the u. S. Elections and this is the way a lot of the Fund Managers seem to think bank of america, 150, the biggest Fund Managers in the world. He said that, too. The 2020 election is the number one thing. Were all worried ab
Disney ceo has the story changed too . Apples meeting gets under way Halftime Report starts right now. Lot on our plate today. Let get to it. Our team here today, najarians, and Cnbcs Jim Cramer the host of mad money. The president of Yardeni Research is with us. A full table for this meal today. Lets begin with your money. Stocks are higher. Most important ly, perhaps, so are bond yields. Jim, ive been talking about stocks werent going to be able to stabilize until bond yields stopped falling like a stone. Right. You said this morning, quote, i think you have to start buying something. Right, but not be aggressive sure enough, yields went down again. Coming in a little quick sand here because if rates continue to go down, people will give up some of this if you havent bought any, the markets had a very big move in the morning. Theres a lot of stocks that are down so much its worth starting as a great man once wrote to me as i Read Everything in the morning, do you know what happens wh
Climatefocused policy. Boris johnson and the new government. The key is the vote that comes withgoing to have to work after the after that. Not the conservatives, but the that is a vote for mps to agree National Democratic party or the green party or some combination of that, maybe even the block. To the accelerated timetable the Prime Minister and his the withdrawal he also had this pipeline that he is in the middle of. Agreement bill to go through in the houses of parliament. Climate on one side they wanted to reach all its stages in the house of commons and the pipeline on the other side of the government purchased by thursday, if not by the end hes got to figure out whether of the week. That is moving ahead. This is the vote that is proving to be more controversial. There are some mps who think these minority governments are this is too little time to debate and pass a piece of only single tenuous because you can always are always a little tenuous because you can legislation as big
Decade, peloton tracking lower thats straight ahead. Stephanie is back. Some encouraging signs on the economy particularly in housing. We talk about this endlessly about the consumer being strong, manufacturing being weak really benefiting from low Interest Rates home sales at a 32 month high. Thats impressive. The other thing is nasdaq is up. This is where the momentum is in our economy. People are wondersing about the consumer i think its a very good sign. I own dr horton, home depot, stanley, black and decker. Im in this trade for sure dr horton is the home builder. We were talking about valuations youre talking about 12 times earnings, one and a half times book value i think theres a lot of pent up demand especially if rates stay low. You have the whole new generation, millennials starting to buy more. S p and dow down 0. 1 russell and nasdaq down more lets go to the ipos we went to peloton wild week for Companies Looking to go public and some names have already recently hit the ma
In particular. But all of you to the hearing, as we are galloping toward the need to the act. Cities and localities are looking to us to see what we are to do. I met with a group this morning and congress. It is in the most difficult we have had to do. The issues havent waited for congress to catch up on revenue. After and in the using other methods. To get rid of congestion and to bring us into the 21st century. On transportation. In todays hearing, we will look at some of those questions. The nuances of federal towing policy and congestion pricing. Off technology solutions. To address congestions or congestion and many other Transportation Needs today. While congress failed to solve the revenue question, is negatively attacked and affected the constituents as never before. Not to mention, the quality of air we breathe and failure to deal with Climate Change which was not even discussed at the time of the last reauthorization, to indicate just how far time has moved and how much congr