gain for the nasdaq. china says the effects of the virus will be temporary. a full report on that coming up. now look at this, another giant search for tesla. up 129-point yesterday, it s up another 104 points premarket today. that is stunning. tesla s profitable, expected to deliver a half a million cars this year and production from the german factory next year. elon musk has become the shining star of the electric car business and he is a very wealthy man. 883 premarket. , there is other stunning news. the iowa caucuses. they have imploded in chaos. no result yet. new complex rules in a poor performing app screwed up the reporting process in the absence of hard numbers, some of the candidates declared victory in all of them have left the states. here s an important point. democrat turnout down, republican caucus way up. and the president tweeted this. the democrat caucus is an unmitigated disaster. i wonder if they will rub it in at the state of the union address. speaker
to report the earnings come out after the bell, where corona commentary be the main thing on investor s minds power lunch starts now and welcome to power lunch. i m kelly evans and yes, it s green across the screen today. dow having its best day since june we re back in positive territory for 2020 the nasdaq back in a record high take a look at some of those tech heavy weights hitting record highs today microsoft, mastercard, adobe, sales force. all up in that record territory. for more now on the rally and today s market bounceback including what is driving stocks higher, let s go to bob at the new york stock exchange. and it s looking a lot like mid january, kelly we were what, 30, 33.20 in the middle of january. just a couple of days before coronavirus. look at this, we re almost back there. 17 points from where we were just prior to the outbreaks and we ve got decent earnings numbers. a part of it not a will tlot of tremendous disappointment did talk about a weake
coronavirus related slowdown and in politics, we re still waiting for results from iowa as is president looks set to clear an impeachment conviction with a state of the union on deck jonathan is back, welcome, sir so you raised your price target on the s&p a few weeks ago are you still feeling as optimistic so philadelphia, timing, the timing wasn t beautiful because i think we got it right at the top, but we re seeing that earnings are coming in much, much better than people anticipate ed and we were expecting a bounce in the vix up towards 52 over the next few months and i can tell you u why, but we ve gotten the first installment of that. and i think that that s also kind of inserted confidence in the u.s. economy obviously, news has been sloppy, but we re lisz than 1% away. we re at 1.7% on the s&p with 58 minutes left of the session shares of tesla rocketing to yet another buy today. surpassing $900 for the first time just one day after first topping $700 for the fir
shares have almost doubled this year and today it had its best day in six years. but the chart master says, you better be careful. we ll find out why good even we have a big hour thanks for joining us. we ll start with the last of the faang name to deliver results, that is google its parent company alphabet d p dropping after reporting numbers. why the 5% hair cut for alphabet tonight? i spoke with the ceo on a brief media call, i asked about the revenue miss, revenue came in at 46.1 billion there was this shorter holiday period this year i asked any specific challenges or head winds that investors or analysts should keep in mind she said they re happy and pleased with the ongoing strength of the company. called out she was pleased with cloud momentum hardware did sell well over the holidays, but compared to a stronger report from last year the company did provide new disclosure this time around on search, on youtube ad revenue, saying that was a $15 billion business in 201
Im sara eisen im mike in for bill friend frost. We are starting friday with a song from taylor swifts new album. It was released at midnight. Featuring ed sheeran i will hear a lot of it around the house. Wilfred took the day off because it was such a big day and releasing the album. He needed to take it all in lets get a check on the Global Markets after a sell off on wall street wasnt as bad as it got during session lows, but the s p and dow had their worst day in two weeks. The pressure continue this is morning. We are set to break an eightweek win streak when it comes to u. S. Stocks, which are pointed lower for the week less than 2 of a decline if you add up the week. Dow down 65, nasdaq down 24. It has been the nasdaq thats been under the most pressure thats also been the biggest winner russell 2000 is down more than a percent. Treasury note yield. Lower yields back to the bottom of the range 237. Although, getting a pop today. Well see where that goes. Selling of treasuries this