Market we have a great lineup of guests coming your way well speak exclusively with Morgan Stanley ceo james gorman. His take on the markets come back the read on the economy and the strength of the banks. Plus, you will hear from the ceos of macys, Signet Jewelers and brown foreman. Theyre joining us to discuss their path forward for their respective irz stroo respective industries. But lets begin with the Broader Market the rally, take the pause today following the rapid surge that pushed the s p 500 back into territory for the year if we close higher well get another record close for the tech hefin dechl. What you are watching . It does look that way, sarah. A recoil from the recent trends. The headline index is pulling back outside of the index. The majority of volume is to the down side. This is one day where the indices are understating the weakness they want to take a look at the one year really all the pullback meant is a little dip below 3200. It held there and bounced modestl
Plans to their state as soon as today. Preparing for one possible second wave. What one ceo says hes getting ready and doing. You are watching on this wednesday, may 27, 2020 on cnbc. Good morning welcome from wherever in the world you may be watching. Im Brian Sullivan thank you for starting or ending your day with us on cnbc it is turning out to be quite the holiday shortened trading week futures are up again right now session highs. Nasdaq also up about a percentage level about the same. Dow futures have been gaining ground since opening up in the red following yesterdays big stocks move higher squarely focused on two things number one, the hope around the vaccine and the optimism around the rebound as more move forward with their opening plans d. C. Targeting next week, parts of long island opening today. Sooner than many had expected given earlier concerns the case of new growth rates and hospitalizations have come way down even those who get sick tend to ride it out and recover.
I have to worry that youre gonna sue me. Anthony you think so . Lemonis . He might just get to the top. My name is Marcus Lemonis, and i fix failing businesses. If you dont like money, dont follow my program. I make the tough decisions. Were closing the store. Were done. Im not talking about it anymore. I back them up, spending my own money. Its not always pretty. Man perfect flavor. Lemonis . But this is business. You got to trust the process. I do it to save jobs, and i do it to make money. Thanks for your business. This is the profit. Surfside beach is a picturesque resort town. A great place to vacation and a great place to call home. Anthony leggio. [ camera shutter clicks ]. And his girlfriend, kristen christian. Kristen good morning, asl signs. Lemonis . Moved here from long island two years ago to start a family. Anthony i know, you want daddy time. Lemonis . And a business asl signs. Anthony do you want to finish doing this estimate . Kristen oh, yes, please. Anthony oh, boy.
Or was it the real economy rearing its increasingly ugly head every day that the average goes down, the dow slipped 102 points, s p shed 7 p. 8 , are we having Great Depression style unemployment 38 million jobless claims or another garden variety sell off in the wake of another major rally . Ill give you a hint its not the economy driving the bus. I know the markets incredible rebound the last two months seems totally out of sync with whats happening in the rest of the country. Wall streets become divorced from main street and were told thats unsustainable the thing is im not so sure this morning on squawk on the street, i kicked this idea around with david faber and carl quintanilla. David was incredulous i thought we were seeing a garden variety selloff, not some reckoning mass sell off in unemployment. Another 2. 4 Million People filing for jobless benefits this very week. Remember we get those claims thursday morning lets start with the positives that help stem the bleeding today
Down up by 89 points. Nasdaq was down and s p in the red 1 and a half. Oil prices are down this morning, take a look at 16. 32. Treasury is considering a Lending Program for struggling Oil Companies. We have the story coming up. Treasury secretary Steven Mnuchin is asking for equity stake that take coronavirus aid as Big Companies give back money aimed for Small Business. Mornings with maria live right now. Maria Global Markets this morning are lower. Take a look at european indices across the board. Cac quarante down 36 and dax index lower by 94. Retail Sales Numbers out in the uk looking at the largest decline on record. Down 5. 1 in the uk. In ash overnight red across the board remdesivir failed chinese Clinical Trial. A lot of hope around the drug and it continues to be. Shanghai composite down better than 1 . The white house now saying that the coronavirus pandemic could be behind us by memorial day. Dr. Deborah birx pointing to downward cases week by week. If we continue to mitig