With the recovery. And what if you rode the its time to risk less to make more lets get right to tornado a kick things off with the dollar. Seeing a bit of a rebound after dovish commentary out of the fed earlier this weekend put pressure other than the green back dollar fodown from 5 from its alltime highs and etf typically benefit seeing gains today still underperforming the Broader Market this year and a warning, could be more trouble brewing. Carter, take it away what do you got for us covered all the salient points exactly right. We know emerging markets are often debt ladened and barrows dollars the dollar weakens deflating the debt a good thing weak dollar. A lot of commodity exporters, this is good for them. Peaked two months ago and while merging markets did well they still underperformed the s p thats the problem i think. Look at a few charts not a chart to put this in context we know the dollar peaked march 23rd and of course s p bottomed, as theres fear. Peoples flight to s
The market while classic reopening plays like cruise lines, airlines, they are moving low. Net net we are flat as we stand on the s p 500 sara. Ahead on todays show, investing legend Jeremy Grantham, stunning rally we might be realizing emergence of a bubble. Plus well speak exclusively with Marilyn Booker, former head of Morgan Stanley suing the firm for race and gender discrimination lets focus on the stories were watching mike santoli with a look at broad market action. Steve liesman highlights from fed chair jay powell and covering coronavirus resurgence in beijing mike,ic can us off with a look at the session flat on the average butthat doesnt tell the story. The average holding the gains in the last three days, wavering around the flat line a lot but mostly due to the trillion dollar trio, amazon, apple, microsoft all outperforming. This is an oldfashioned early february day where the big megacap Growth Stocks holding index together as average stock slips a little bit this is the
That converted the selloff into a rally. Then came news that European Manufacturing is recovering rapidly from the virus lockdown. That helped the market. Look at it go. The dow is going to be up close to 300 points at the open. The s p, 31. The nasdaq, very solid gain, 70 points. Now, heres another reason for the rally. Big tech, it continues its run. You are looking at premarket prices for apple, microsoft, facebook and netflix, amongst others, all four hit record highs monday. The big tech surge dominates the market. Big tech is pushing higher. Investors this morning ignoring scenes like this. Chaos in d. C. Last night. Right outside the white house, demonstrators vandalized a church, they tried to pull down the statue of Andrew Jackson and they also tried to establish their own seattlelike autonomous zone. This is happening in our Nations Capital right in the center of government. The president s had something to say about this. He obviously doesnt like it. But no word yet from joe
And 10 respectively snap announcing a new partnership to increase User Engagement and add revenue the cofounder will join us in a few minutes for an exclus iive interview. The dow is on track for its biggest drop since march bob has more on this sell off for us bob. The whole reopening story a little bit under debate right now. The important thing is, the reopening stocks the industrial, the fin tech names, the energy and oim names. All moving to the down side. Boeing is still up 24 this month even with this decline its been a monster. Jpmorgan, all banks, weak, caterpillar weak these stocks had very big moves. I want to show you the big etf movers today were getting double digit declines with some of these energy names the jets have become a super star down big today banks also weak and the pej which is a leisure sector very weak here. The reason were having this is because these were the sectors that moved up the most in the last month i want to show you, can you explain to anybody,
Lufthansa looks to take off. Efrp eu regulators approve the plan bayer stock gets a boost after the german drug giant settled hundreds of claims around the weed killer roundup ending years of disputes it was a grim day on wall street losses more than 2 suggesting we will extend these losses after america recorded nearly 35,000 new covid19 cases in one day. The highest level since the number peaked in late april. California and florida both logged a record rise in daily cases. Disney has postponed the reopening of the park in california originally scheduled for july the delay comes as disney workers in florida urged local authorities to reconsider plans to open the orlando site due to a recent spike in cases. The company welcomed visitors to hong kong. Apple has shut a number of stores in texas due to the spike in the cases now temporarily closing seven houston area locations following similar moves in arizona, florida and north and South Carolina new york, new jersey, and connecticut i