Targeted aid maybe, perhaps as much as 25 million for airlines we have details on that. Later, a democraticled house panel calling for a crackdown and breakup of the countrys biggest tech companies. The chair of the antitrust subcommittee will join us later this hour as power lunch starts right now tyler, thanks welcome to power lunch. Im kelly evans. Were digging through the fed minutes just released. In the meantime, take a look at whats leading the rally its consumer and consumer discretionaries. The house panel is going after big tech its a mixed bag but apple and amazon both up more than 2 . With markets rocketing back after the late day drop we saw yesterday, stimulus back on the table. Bob pisani has more on what were seeing here. In fact, were at the highs for the day. Were on light volume again. The volume tends to be lighter on up days than down days recently thats a sign the pain trade is to the downside. Sectors tends to be the cyclical names here banks, industrials, materi
Power lunch starts right now. Welcome to power lunch. Hi, everyone. In today for kelly evans. It has been a long road back, but the s p 500 right now is near those record highs from february. About 1. 5 away. But as the nasdaq lags the browder market, check out some of the cloud names under pressure. Cloudflare, dropbox, zoom, and docusign. And you can see these moves playing out the industrial sector slee sector is leading the way as is energy. Tyler. President trump signing a number of executive orders over the weekend to expand relief efforts amid the coronavirus pandemic. As congress failed to get a deal done. Steve liesman looks as what the impact of these executive orders could be. The president s orders over the weekend getting mixed reviews today from economists. In just the past hour, jp more conpublished a report saying, quote, the executive orders could reduce the urgency for congress and the white house could get a more comprehensive deal done. If this is all we get for a f
New stimulus package out of d. C. More progress on the big vaccine front. That is putting the competitor moderna on the become burner for today. Shares of wayfair are up 950 from march low well tell you the other radar e commerce player investors are diving into. Power lunch starts right now kelly. Thank you. Its not the typical rally we have seen but the s p is still on track for its best july since 2013 lets get over to bob for more on whats moving now bob. Last week we had cyclicals and value stocks really doing well at the expense mostly of tech like amazon down 8 not happening, not today bottom line here is apple, visa microsoft really helping the dow. Exxon, chevron not helping we have been trying to get over ta june 8th high thats the height of opening, reopening hopes. 32 or so were over that. We close over that youll hear the technician squawking about this one this means were positive for the year as well megacaps leading the way this crazy bullishness, amazon is up 70 of the
Stios, thine. It was insane and it was my message that my birth mother, millie, is here. The bay area is seeing an alarming increase in the deaths of the ranks of Law Enforcement in the jails. A huge rise of cases in Alameda County and the Health Department is warning people to avoid large gatherings, especially at lake merritt. In the london district we show you how friday night when. It is 6 00 a. M. On this saturday morning. Good morning on this july 25th. I am emily turner. I am devin fehely and lets get to our meteorologist darren peck. Looking back over toward the bay bridge it is gray but in other locations like san jose waking up with relatively clear skies, hazy skies in the distance, but san jose has sunshine to start the day. It will be about 7 degrees warmer for the afternoon as a result with 57 degrees at san jose, oakland at 53, san jose at 58. We have sunshine in the late morning for just about everybody except at the beaches. Will clear out clouds in a hurry. San jose c
Eligible for the program in terms of the money amounts, things like that, by opening it up to more people. I really appreciate your responsiveness, thank you. Madam chair, with that i will yield back. Thank you, mr. Styers, a youre a recognized for five minutes. Thank you thank you, madam chair thank you, chairman powell, for your testimony and your willingness to be so accessible. I want to thank you for everything you are doing during this crisis. I think your actions have prevented this from getting much worse. I take your answers pretty seriously about what we need to do for people who are still impacted by this crisis. Particularly people who are still see unemployment we need to try to help them. You just answered a question a bit just a couple things, i think with the unemployment insurance, i think its important to keep in mind that some of the jobs are not coming back soon, but those jobs in those areas where travel accommodati accommodation, restaurants, bars, things like tha