And welcome to power lunch. Im melissa lee. Check out this rally right now all 11 sectors are in gree green. Taking a look at some of the stocks were watching. Salesforce is under pressure for the second day in a row, down about 7 in the last week as it gets set to report earnings after the bell and reportedly to make a deal. And we have exclusive data on how the bitcoin boom is boosting this payment stock first lets get over to bob for more on todays rally. Hey, bob hello, melissa. Good start to a traditionally good month we got talk about a new stimulus plan, janet yellen on the air and, overall, 11 sectors all on the up side. Bank stocks leading the way but technical stocks also. No dig selloff in tech that was also a november play there. Theres energy you have your value play with banks, energy up you have your growth play with tech, cyclical with industrials up and even more defensive groups, Consumer Staples on the up side as well. This is what i mean when i say the goldie locks
Program germany has posted the most corona virus infections in a day and with infections sharply rising in other countries as well Financial Markets are getting the jitters again amid fears of tighter restrictions european shares sank to near 2 week low on thursday driving the sell off across europe and asia are coronavirus concerns germany reported daily infection rate. On thursday hong kongs hang seng index tumbled over 2 percent shanghai and tokyo shares also fell. Lets cross over to our markets correspondent Chelsea Delaney in frankfurt chelsea a record 6638 new infections in germany leaders are saying the 2nd wave will be big yet theres seems to be little optimism that can be stopped. This is all becoming very real for investors and for politicians and for citizens across europe weve seen over the past few weeks a lot of. A lot of optimism among investors we havent really seen big impacts on the stock market despite these rising number of cases but today it is really starting to s
We see the dow below the 50 day for the first time in awhile nasdaq hit that last week were off of the lows, 32. 29 maybe just ten tonights off of that the problem is not so much technology, but the reopening sectors. They are weighing on the s p if you just take a look energy, industrials, and materials. They have separate issues with suspicious trading activity. Not as they are notably week taed and this is another sign that the reopening story is not going as well as people anticipated. Remember the bucket thats we watched the market with. It is true there have been advancements with treatment and vaccine. The delays in the stimulus program, europe locked down is a worry. Concerns about the potential for the european lock down is there. As far as the stock market goes, we have been looking at valuations for a long time many people feeling the market is over valued but earnings overall have been improving. There is a lot of balance and debate going on. That happened on friday, nasdaq
Its up 9 you think about the Digital Infrastructure for fitness, a time when its kind of hit or miss whether people can gather inn provides some of that not just in the bikes but in the apps spotify up almost 7 twilio, which provides payment and tracking services, data services, those apps up 7. Service now, amazon up considerably most of those stocks also up quite a bit over the past few day days youre right on peloton, wedbush puts them at 66 saying a blowout quarter is possible. Mark may joins us this morning to talk more about this. Mark, good to see you. Welcome. Thanks for having me back after a week when people wondered if this trade was still fresh, is today another reminder that its hard to keep this narrative down sentiment in the tech sector among investors varies depending on the time horizon especially now with earnings. Investors in general in tech are bullish. I know that for the most part Stifel Research analysts are bullish over the medium to longterm. There are differ
Saving in terms of production and marketing costs. Of course, the question is sort of how that impacts the question next year when we start to see them ramp up the production again or even second half of this year. But to your point, mike, about digital, i think what really is driving this stock higher today is not just the fact that disney plus is doing so well, hitting 60 million subscribers, four years ahead of the goal of hitting between 60 and 90 million subs so really far better than expected in terms of disney plus but also the fact that the company is really doubling down on digital theyre committing to build another digital streaming service, internationally, also talking about this mulan strategy, offering mulan at 30. Really interesting to see the company push even further in that direction this at a time when the parks are struggling lets take a closer look at the park segment, taking a 3. 5 billion hit due to the coronavirus. Joining us now to discuss that is former design