It is the best five days since 2006. That is how much the tech want in on apple. David it looks like we are buying bonds . Abigail there is a bit of a haven bid. You have stocks higher and bonds higher, not everybodys believing it. What will it tells about the economy and will we get a stimulus deal done . David the saga in washington continues over the possible next round of fiscal stimulus with republicans and democrats saying they may be moving closer on some issues but not so close on others. We welcome senator rick scott, republican of florida for the latest. Thank you for being with us. Give us your sense of where the negotiation is an most important, what is the biggest chasm between the two sides . Sen. Scott here is what is frustrating. Make toneed to take care of our Small Businesses and reopen the economy, and what schumer and below sea are talking about his election reform schumer and nancy pelosi are talking about is election reform, these are issues we should be talking a
University system. Retail post pandemic getting perhaps even grimmer as another Department Store set to announce bankruptcy taking on the fed. Druckenmiller calling out the fed. It is wednesday, may 13. You are watching Worldwide Exchange here on cnbc good morning, good afternoon, good morning welcome. Im Brian Sullivan thank you for spending your time with us here on cnbc it is a big news day from wall street to watch. Futures are basically flat, slightly higher. It could change. It is early. The dow closing down another 450 points yesterday for the second straight day of losses the nasdaq finally snapping a sixday win streak falling more than 2 on the day yesterday, futures basically flat now as well as investors continue to weigh comments from dr. Fauci warning of a second outbreak this fall if states move too quickly to reopen my approach towards the possibility of a rebound and second wave in the fall is that, a, it is entirely conceivable and possible and, b, i would hope between
Last ten minutes or so and finally, optimism around the possibility of new stimulus. All of that helping the market up about 1 on the s p 500 as we stand. Coming up on todays show, big moves in the banks space and Goldman Sachs is bringing workers back to the office well talk about that with the president and ceo john waldron and Michael Novogratz will lay out the risks he sees. Mike santoli is tracking the Market Action and a pair of key faang names holding their annual meetings as tech underperforms today and mike, start us off with the Broader Market and the action were seeing right now. Yeah, so weve been talking about this rotational activity away from the big growth winners into all other areas of the market that are more sickly call and smaller. It is really happening in a benign way so far. Sometimes the baton can get dropped in the handoff but it is towards its highs so kind of stalled out at this area, but below the surface, equal weighted is up close to 5 so it is kind of st
If you say things are okay, not as great, and youre an industrial, because there will be an opening of america, people will buy you if you say things are in line and you pull your forecast and youre not industrial, its a recipe to be sold. This is about hope its about the idea that it cant be as bad as it is right now. Youll see that even with marginal retailers, people think a marginal retail hear to come back because america is open listen, you have to go with the flow for a couple days if youre a trader if youre an investor you have to take the other side of this trade as we get closer to the opening. I think people will be surprised how little these businesses will do and how worse theyll do once we go open its not it is an opening other than auto builds wont occur. We have to be ready for that your general thinking is well get a ford plant reopening, vw doing it, boeing in South Carolina next week, but its going to be a manufacturing bounce yes more than a service bounce . Yes man
Getting spared but look at how that is developing just to the north. But that is barely moving. And thats really heavy rain. Texas and parts of louisiana. For us there is rain up in northeast california. The is Still Producing some rain. My clips say reno or trustee but truckee but it will go down on sunday, but friday and saturday to look warmer on temperatures. The lows are significantly cooler than 24 hours ago. It does look like a slight warm up for many. Upper 70s, low 80s, mid70s around the bay with 60s on the coast. That is our system right there. Bigtime lighting show. It is still keeping temperatures pretty cool at 40s. Cool rain up in northeast california. 40s progressed, fairfield 47, 46 napa airport, many 40s to the north as well. Mid40s and the 50s for many. Temperatures quite cool for some, even American Canyon is down to 52. Except for some patchy fog it should be a nice day. 60s and 70s mainly on the forecast for today. 7 02, allie is here . We are talking about emeryvi