Earnings walmart going on a hiring spree. Home buyers are rushing for mortgages. Is the consumer stronger than you think . Power lunch starts now and welcome to power lunch, im Frank Holland in for Tyler Mathisen nike hitting an alltime high soaring 9 on a blowout Earnings Report Johnson Johnson also higher on its vaccine progress for more on whats driving the action, lets get over to bob pisani hey, bob frank, we are sitting at the lows for the day, 3,280 on the s p, about where we ended on friday and the problem is this seesaw in the megacaps and workfromhome names take a look at megacap, this is a down day yesterday was an up day. Monday was generally a down day. You get the idea hard time figuring out what the right values or prices this high same with the workfromhome stocks theres a theory out there that these will be beneficiaries of worsening coronavirus cases in the United States, maybe, but theyre starting to split. Theyre not always up on the stays when some start moving on
Points the s p which is then up five out of the last six weeks and up the last six sessions in a row is up by 5. 5 this morning and then the nasdaq which has been this incredible out performer for months on end is the other performer this morning its down by 13 points but remember nasdaq was only down friday after being up for several sessions in a row. Setting a new high every one of the closes. The s p is less than 1 from its all time high. Its up back in february the treasury markets youll see right now. The treasury yields are where they have been the ten year is at 0. 556 . Melissa. We have an update on the pandemic the United States surpassed covid cases. It took just six weeks for u. S. Covid cases to double. The growth appears to have leveled off at an average of 54,000 per day over the last week in College Sports news over the weekend the mid american conference scrapped its all football season delaying all fall sports until the spring of 2021 the logistics were too complicate
Yesterday 104 people died. Far fewer than the 178 the day before. At this hour we topped 60,000 cases in the bay area. Alameda county continues to be the hot spot. You can see it on on the map. Meanwhile a lot of people headed to delores park as doctors keep a close eye on a dangerous stitituation situation. People seem divided about whether its really safe there. Especially im not judgmental but i do wish when we were walking out with other people that they would see for elderly people its dangerous that theyre not Wearing Masks. They take daily walks around their neighborhood park. It just so happens thats delores park. An outdoor hot spot in San Francisco. He sounded the alarm on the number of people not Wearing Masks within their social circles at delores park a week ago and he says not much has changed. It seemed to be more crowded yesterday with music but specifically around covid19 the circles were, people were trying to stay in the circles. This was someone that we spotted not
Speaker pelosi says its absolutely absurdly unconstitutional. What will they do . Go to court to stop people getting the money . Right before an election . Good luck with that. The president s playing political hardball. 84 days to the election and again, the money will flow. Investors like it, by the way. Looking at the futures, the dow industrials will open this morning with a gain of about 100 points. The s ps going to be up about four. The nasdaq, up about 13 as we speak. The president s playing political hardball with china as well and beijing is responding. Jimmy li, a leader of hong kongs democracy movement, has been arrested under the new security law and china has imposed sanctions on u. S. Senators, including marco rubio and ted cruz. Now, that is escalation. Dramatic change may be coming to a mall near you. Amazons in talks with americas largest mall operator, Simon Properties simon group properties, to use some Department Stores as fulfillment centers. Amazon gets cheap spa
Its up about 0. 3 today the dow as we said up over 1 at session highs. The sara crazy to see the s p 500 just wiping out all the pandemic losses the todays show, clorox is a standout winner. Up more than 50 so far this year people stock up on cleaning supplies but can the company keep up with the huge demand for wipes and disinfectants . Were going to talk to the ceo plus, well talk renovations, Small Businesses and more with the ceo of Angie Home Services of that company reporting earnings after the bell. Along with iac, tilray and many more names lets focus in on the big stories that were watching in this final hour of trade mike santoli tracking todays market action. We have the latest on the increasingly complicated stimulus discussion in washington and kate rogers has the details on a scandal involving former mcdonalds ceo steve east easterbrook. Mike, start us off with the Broader Market and the gap were seeing. This is a good illustration of how a broadening out of the market be