Benefited from the stay at home trend, both popped into the open both have gone lower all day long big swings and stocks are set for the second straight week of losses the s p 500 just fell through the 50 huday moving average. 59 minutes to go on a volatile day, week, and final hour of trade. The s p 500 is flat right now. Fwha but that belies the volatility that youre talking about. We have a big lineup on the show coming up, the ceo of kroger will join us on the back of the companys strong Earnings Report better than expected guidance as well plus, labor secretary Eugene Scalia will be with us to discuss the job situation in the country and the renewed push by some companies to bring workers back to the office and one brookings economist has a bold idea to get america back to work and speed up the recovery pay people to have a covid19 vaccine. But lets get straight to the market another wild session to close out a roller coaster week. Mike santoli is tracking all of the action today
Could a bield card d could a wild card derail that run. That chart is a thing of beauty. And later, home depot, what is lighting up to the tune of 80 gain in just three days. Wow. A lot to do. Were going to begin with these r red hot markets and quest for Higher Ground. Investors keep investing but not much for s p 500 closing just shy of a new record, four points off, but believers keep believing. Goldman sachs raysing the target to new wall street target to new high 3600 so as the world keeps turning, will the markets ever get to Higher Ground brian, welcome back its great i dont see you, but its great to hear your voice, again doing gentlemans work im a little upset we didnt play the Stevie Wonder version we played the chill yi peppers. Version. Flea is a huge fan. So shout out to flea to answer your question, why not. 3600 for s p 500, 5. 5 from here market seems to go up 5 every day. Notwithstanding. So its reasonable with the fed at their back every piece of bad news is digested
How apples shakeup is driving the blue chips plus the online surge, best buy notching is 242 gain in ecommerce sales in the Second Quarter but can it last . Trade optimism, u. S. And china officials reaffirming their phase one commitment, the s p is poised to add to its record run. Jim, i saw you last night mentioning those changes to the dow and your general point was dont be fooled in thinking there is as much money indexed to the dow as to the s p. We said that last night, its been the theme all morning and theres been no sellers. One of the reasons theres been no sellers are the people who are now trading stocks in early hours have tremendous conviction in the face of being wrong its rather incredible because the hubris of these people they must think dow jones has a lot of money to it and it has to come out of exxon and into salesforce david, you have been at the forefront of the network in explaining the nature of the dow and you see this, too. Arent you shocked that even after w
Giants thats benefited from more money in american wallets earlier this year. For more, i want to bring in abigail, whos been following all the action in the s p. A big day, catching up to the nasdaq. Tech is helping. Abigail we have this record high. Market watchers have been waiting for the s p 500 for a week very closely. The nasdaq has been hitting record high after high. Tech, especially with amazon and other tech names, really driving the gains for the s p 500. Morning the this s p 500 briefly went negative after putting in an alltime high. We have this wall of worry. Not only do we have no still is, a second deal is not on the table yet. We have a election jitters, u. S. China trade jitters, the possibility of a second wave. It was not a robust finish for the s p 500, that a record high. One day versions are a little high, given the others closed a little high. The last time this index put in a record high was almost two years ago. Its really the habs and and havenots. Vs techno
Reported a good quarter, but the Third Quarter guidance not needing the mark. Att stopped plunging 15 , the lows, down 18 . Its worst day since 2002. Another big story, we have been talking about silver. The spotlight today gold crossing above 1900 per ounce earlier. That haven asset, also you could say a derivative of fed liquidity on the others. Painting a risk out picture for all of this, we have the yen up for a second day. Dollaryen up 1 . That tells you investors are going into the yen, which is a true haven currency. Lots of pressures gritting this risk off picture. David it is not just the dollaryen. The u. S. Dollar is down overall. It is weakening. Is that right . Abigail yes. It has been down five of the last six days. One update was up ever so slightly. From a technical perspective it has been breaking down. A weak dollar is what happens when the fed pumps a lot of liquidity, easy money into the system. The fact you have the dollar week could suggest some traders may not li