Amd to buy xylinx. Is there more room to run on amd . Well explore that one when power lunch begins right now earnings season is supposed to be a report card for companies. Lets go to bob pisani for more on this lack of guidance bob . Kelly, once again, the Fourth Quarter, another quarter with the lack of guidance its a bit of a problem because the analysts again having a hard time figuring out what the right numbers are. Remember, the earnings numbers have been coming in very well, generally weathering but again, big companies, no guidance from caterpillar, 3m, xerox, Stanley Black and decker. Others like Harley Davidson didnt give guidance either. Raytheon, corning. No guidance from companies. Analysts have a tougher time and theyve been very conservative and wrong so far fortunately wrong on the conservative side. Look at all these companies out there. 83 are beating for the Third Quarter and theyve been beating by almost 20 . Its an amazing beat and shows you the analysts have been
Lows the ceo will be here to tell us how he and his company delivered. Plus the university of arizona claiming it has found a new way to prevent covid outbreaks, testing the sewage coming from dorm rooms president Robert Robbins will join us, as power lunch begins right now. I cannot wait for that story. We wait for the beige book from the fed. Dom chu has more on the markets. So the dow is up almost 300 points at this stage, the highs of the session more importantly were keeping close to dow reclaiming record territory. Anybody who has tuned into power lunch or cnbc in general the last several months knows we continue to make these record highs with the s p 500 gold star there. The nasdaq always creeping higher here. Believe it or not, that 12,000 market was hit early today it open up at 12,050, roughly that level just to put things in perspecti perspective, if you look at the nasdaq over the last year, from the lows we saw up until where we are right here, were talking north of 80 ga
Yes look, theres no doubt about it, as becky said, things are better after than before. Skeptics will say you cant ramp up this rna. Moderna has been saying they can do 800 million to 600 million to 900 million vaccines, and i think therefore the move in the dow and the move in moderna makes sense. Do i want to chase moderna no do i feel like things are better its hard to believe that anybody could do this this fast, except for moderna i want to caution people, they have never really done anything. This is a very, very big deal. But there are people scientists i talked to this morning who say look, so far so good thats much different from the way i felt on saturday when i learned that the oxford test that everyone was so excited about did nothing. So this is not on prime mateates is on humans if youre negative on the market, you have to rethink. People will say we have to buy value. Autos are pumping. This is good news. You dont think its a sell and stay at home kind of stocks day . I
Hard to make anything of any positions being taken into the weekend, were something good or bad can end up happening. Time for todays market moving news from brussels, as well as our new york teams. Europe, approving a shortterm deal. Ombergs part two bloomberg spoke to germany z for president to spoke to germanys you for germanys ifo president. If things shut down again because there is a second wave, that is catastrophic for them, so that is something that needs to be avoided. Maria tadeo joins us now. Maria european leaders met yesterday. They came up with a shortterm aid package, but the question is what we are going to do over the long term. Get any clarity yesterday. That is being reflected in the Market Action today. Any specifics on the amounts. Theres suggested that it could be one trillion euro up to 1. 5 trillion euro. Some argue this should be done through transfers. The countries that are on the weakest right now would say they want to see the bulk of it being done in tran
The markets are rebalancing. Lets see if the traders wind up agreing. Chinese leader is going to maralago in florida. Oining us now is kevin cirelli. Kevin last week he was tweeting it would be a difficult meeting and then he tweets there will be a lot of great things coming out. Here is he headed . Kevin north korea saying if china wont handle north korea then the u. S. Will have to do it alone. Two things, National Security as well as trade policy are the top two items on the agenda for the summit in florida for later this week. Of course President Trump has tough talk for china on the campaign trail saying they were currency manipulators and saying they havent gone that far yet in his administration but did of course last week call for the reviews and executive orders with Foreign Countries to see which countries are taking advantage of the United States, whether or not china makes that list remains to be seen. David kevin, give us the perspective from the president s view, what is