Retail, restaurant, travel, all the same things. Chef tim love, thank you for joining us appreciate the optimism. Have great day. Its felt in the market you too, chef love the dow at session highs up more than 650 points. Yeah. Nice rally here. Well see you this afternoon good morning, everybody. Welcome to squawk alley. Im Carl Quintanilla with Michael Bloomberg and jon fortt coming to you live with separate locations. Session highs up 660, s p 3k since march 5th. Positive headlines on the health care front and fundamental front as countries around the world accelerating the lifting of restrictions 10year 70 basis points not matching last weeks high. Were going to keep our eye on that of course the historic reopening of the New York Stock Exchange our bob pisani has more on todays return hey, bob of course, carl, you and i speaking with Stacey Cunningham just after the opening this morning, stacy was on the floor and a big get for her, Governor Andrew Cuomo ringing the bell with her i
California will open movie theaters on friday, at least in a limited capacity, but they are opening. Guess what . We have an ipo today. Remember those . Vroom, an online used car retailer, goes public this morning. All positive signs abound. Yet the media is jumping on the headline from a group called the National Bureau of Economic Research. That Group Reporting late yesterday that we are officially in a recession and that it began in february before the pandemic. Still scratching my head on that. You can bet we will be discussing it. And heres another return to normal for you. President trump says he will begin holding Campaign Rallies again in just a few weeks. The Trump Campaign will be joining us in the 11 00 hour. Lets go ahead as always. Im Ashley Webster. Varney company starts now. Ashley lets get straight to your money. We will start with the losers. First up, the airlines have had a really good run of late, as we know, but as you can see across the board, check out american a
Today. With the dow jones average skyrocketing 530 points, s p 1. 32, nasdaq 1. 72, one point before more saber rattling with china. All sorts of beaten down stocks, though, were higher. While the covid19 winners, well, they got slammed theres just one tiny problem with this action we dont actually have a vaccine. Does that mean the stock market is getting ahead of itself lets unpack the issue first this rally is based not just on hopes of a vaccine but a firm belief that the whole virus problem isnt nearly as dire as we thought a lot of people feel it has been blown out of proportion by the media, and the president s right, the people feel the president s right when he says we should open up everything betting on a vaccine makes sense. Since the beginning of the pandemic they warned us a vaccine would take a long time the fastest was the mumps which took four years. Every day were bombarded about another attempt to end this nightmare. Today we heard merck is working on a Magic Technol
Points. But as more people go back to work, could the sudden tech spending boom that was triggered by the workfromhome movement, could it disappear as quickly as it began . Chairman and ceo of adobe, this is a Favorite Software company of small and medium sized businesses, he is here, first on fox business, on whether we all kind of borrowed from future tech spending to ramp up connectivity and what it might do to tech stocks coming up. With the memorial day holiday soon upon us, will americans give us that once in a lifetime visit to europe or somewhere else for a Summer Vacation closer to home . The ceo of the Worlds Largest travel Marketing Company says one hotel in particular thats announced it will reopen is proving to be the biggest vote of confidence the nation could get. Which hotel and where it is, coming up. Plus, Hedge Fund Hot dogs, pandemic rebound stocks and charlie breaks it on directvs future at at t. Less than an hour to the closing bell, lets start the claman countdow
Gain i think im looking at the right place, nasdaq composite, up 1. 5 . We are doing well this morning. Now look at this. Novavax started phase one trials of a vaccine with human participants. Results expected in july. Big stock gain. By the way, the ceo will be on the show today in our 10 00 hour. Merck are working with an austrian vaccine maker and they have established partnerships with others in the field. Merck is a dow stock and it, too, is on the upside. 3. 7 higher. Heres the bottom line. There are hopes that a vaccine may be developed more rapidly than thought possible. All right. Im going to show you some of the scenes from around the country this memorial day weekend. Its the official unofficial start of summer. We took every opportunity to get out and have a good time. That suggests the recovery is picking up steam. We will show you more about this in just a moment. Joe biden, he broke out of his basement for the First Time Since march 15th. He was wearing a mask. He and hi