Cases and new york has opened its first drivethrough testing facility the doctor behind that program is going to join us in just a few minutes here kelly. All right bill, thanks our team of reporters is covering this story for us bob pisani is watching this rally fade and then try to come back today Rick Santelli is tracking the bond market where yields are moving up. Eamon javers is at the white house awaiting a press conference from Speaker Nancy Pelosi any moment now and from President Trump at 3 00 p. M. Eamon, what can you tell us . We got new information from the white house. The president was scheduled to hold a meeting with ceos and got as list of the ceos here and this gives you a sense of what the president is working on right now. Theyre saying that it included in this meeting are richard from walgreens, Brian Cornell of target, Doug Mcmillon of walmart, Steven Rokowski of quest, matt from roche and a number of other ceos i apologize for butchering some of the names in the p
Weekly point loss ever this is a week of never befores and not since. Industrials falling nearly 4,000 points on the week this will also be the worst week, worst month, worst start to the year since the crisis in 08 and 09. Not since more than a decade ago have we had such a rough beginning. Then theres this. Rough lewly 95 is in correctio territory. Down 10 and nearly half of o the s p 500 is in a bear market situation off 20 . Kelly. Very good thank you. Welcome to power lunch, everyone our Team Coverage of this market sell off rolls on as the coronavirus fear and impact spread bob pisani is tracking the volatility today Rick Santelli is watching rates and bonds move lower, hes at the cme. Meg has the latest on the outbreak for us. Eamon javers is in d. C. With the administrations response and Steve Liesman is focusing on the feds next move. We begin with bob pisani were lookinging for signs of some kind of bottom, but its hard to come by. I want to show you the dow jonesville last t
Explaining that. Later, in honor of valentines day, tim seymour is going to do his best cube ed impression and tell you which storks on wall street you should love power lunch begins right now. Thank you, tyler welcome to power lunch, everybody. Im kelly evans and stocks are pulling back from record highs major indexes are still on track for second week of gains in a row and best month since june. Dow down about onethird percent now. Look at boeing one of the reasons why near session lows and down more than a percent on news that united says its canceling all 737 max flights until september now. Boeing down 1. 25 . Get to bob pisani at the new york stock market looking at damage done to the s p below the surface. Bob . Yeah. Boeings not helping caterpillar, ibm not helping today. Pointing out, kelly the right. Still up 1 for the week despite all these concerns she you the s p for the year new highs the other day. 4 were gain for 2020 so far thats quite impressive given all the issues w
Heres where we stand today. The dow was up about 150 points on the open this morning, but thats been wiped out for the most part. The s p driving into negative territory. The nasdaq getting hit the hardest, down about half a percent, but look at the staple stocks today been hitting new highs cal bells soup jumping as much as 10 to its high es level in more than a year tyson foods, pepsi, both prints record highs today thank you, bill as stocks race back to highs, the countdown is on to new tariffs in a couple of days. Bob pisani is watching that at the new york stock exchange. Bob. Hello, kelly. You know the markets lost some steam here after a broadbased rally this week. Were still higher on the week and only 36 stocks in the s p 500 are down thats remarkable. A big win here the other 464 companies, theyre all up just shows you how broadbased this rally has been. Heres the problem many see the rall y as tenuous and tentative. Theres wide disagreement over how much slowing the school s
Im not hearing much by way of right now. Shedding nearly 900 points this week technology, the biggest laggard, their reinvolvement. Take a look at apple, microsoft, does that suggest its because a amazon and nvidia, all moving lot of these u. S. Economies still depend on that lower by roughly 2 or more in a thats kind of what were couple of cases. Well have more on that kelly talking about, right were talking about the fact 5g has civilian and military later. Tyler, thanks to the breaking news expected applications down the road so theres a great deal of concern this hour now. President trump is about to make how this is used in autonomous an announcement with trade on warfare should it come to that the eu there are always big eamon javers has more now. Conversations. I thought huawei was kind of the president s run ining a w taken out of the process to an minutes behind there in the roosevelt room at the white house. You can see cattle ranchers are extent, but not favorably so already