Good thursday morning. Welcome to squawk alley. Im jon fortt with morga brennan, david faber, here at post 9 at the New York Stock Exchange carl is on assignment. And were going to begin with todays rally. Stocks surging all of the major indices up more than 1 . Our dom chu is back at headquarters with a look at what is driving the gains today dom . So, jon, we are right near highs of the session right now the dow is up about 458 points, 452 at this stage. And as you can see here, almost 1. 5 to 2 gains at this stage for the major indices. The s p 500 really the laggard there. A lot of tlechnology and communication stocks powering that nasdaq composite to a 1. 5 gain overall with regard to whats driving the action, take a look at the sectors that areat most at wor and at play. Financials, industrials, technology, meanwhile, consumer staples, real estate, and utilities really lagging behind. The key level that we wanted to watch earlier on was 2945. That had been an area of resistance o
The funeral. You always do the black. I have the same 25 suits i wear all the time. That way i dont have to think of what to wear. Its the jobs anyway. 25 shirts, 25 suits, 25 tie, every morning i say, i wonder which one im going to wear . Are they all adent cal . They are. I like to travel with plaque, it doesnt wrink him or you are cant see the wrinkments its a crisp look when you talk about money, you should wear a jacket andrew, hint hint loose, ill put the jacket back on. Respect the capitalist way. No question laying it on very early this morning. Lets give you a look at where stockmarkets futures are at this hour we had a positive close t. Major averages avoided a threeday losing streak. Can you see we are green arose for futures. The s p would open up shy one. T. Dow would open 31 points to the upside t. Nasdaq would open up about nine points. Of course, this follows some fairly positive trading overnight in acia. We saw better than expected retail sales in japan. We seen yen s
Those blasts sent massive fire balls into the nights sky. The initial blast erupted at a warehouse for Hazardous Materials and triggered other explosions at nearby businesses. Those explosions could be felt miles away. The cause at this point not immediately clear. Lets take a look at some live pictures this morning from tianjin china. You can still see the smoke cloud billowing. We heard from hyundai. Well take more of a look at whats happening with china in a bit. About 4,000 imported vehicles were destroyed by that blast. Heres the big stories today, China Central bank holding a News Conference in beijing overnight arguing theres no basis for continued currency depreciation. Earlier in the day they set the rate below yesterdays close. Well have a live report in a moment. Athens wants to see a vote before a euro zone identifinanc meeting tomorrow. It argued it lacked clarity on the direction of policies. Here in the u. S. A busy day on the data front. We get jobless claims, july reta
And he takes it off and gets looks down and dirty. Working hard. And giving people information, tradeable stuff. What you come here and suddenly im being respectful towards you. I enjoy you feel comfortable enough to say take the jacket off. And i said why are you not respectful to waner and he said because im not. Standing up for him. And hes probably watching right now. I bet he is. You know what he loves to do . Tweet about officiating. He loves that. He also loves that duke is knocked out of the tournament. He hates dock. He just doesnt like duke. He does. I had North Carolina. I got 10 out of 16. And i still have North Carolina. I didnt think i was going to have North Carolina. They almost blew that game. Hows yours . Not too good. Not too good for msg. Thats not what they wanted. Youve got wisconsin florida in one game and baylor in the other game. South carolina, i dont think thats what msg wanted. Theyll be okay. Ucla kentucky, thats going to be a good game. Xavier, you see the
In europe. And then finally a quick look at crude before we get to a couple of the big stories of the morning. Wti at 46. 57. That would have been a good move around the 40 handle couple of days ago. Here are the big stories were watching today. Amazon crushing earnings estimate, posting most profitable quarter ever. We asked yesterday are they still sewing . Or starting to reap . Looks like the reaping has been. Cloud computing business. I thought they sold books. No. They have changed apparently. Side things. Other things in the last few years. Helped the Online Retail giant pull off the beat and stock took off. Jeff bezos net worth went up estimated 6 billion dollars based on how much stock he owns. And other stocks on the move this morning as we check into earnings central. Pandora reporting a wider First Quarter loss. Although it wasnt as bad as analysts expect. The streaming Music Service is raising full year outlook thanks to higher ad sales. And baidu fell to lowest level. Chin