Texas and louisiana preparing for laura to makela landfall asa possible cat 3 hurricane and facing new head winds of a pandemic and the end of an era. They start the end of a new slogan as Everybody Needs to keep their hands out of their mouth. This is Worldwide Exchange on cnbc good morning good afternoon good evening im Brian Sullivan thank you for joining us on a busy tuesday we have to start with the markets and your money despite whatever news there is out there, the money flowing into stocks just does not stop futures higher, maybe on possible headlines of u. S. china trade talk front all of this coming after yet another record setting rally s p 500 closing above 34 time higher and nasdaq hitting 37 records for 2020 the dow, now less than 1 away from break even on the year. Could get there today with the way the futures are looking. Speaking of the dow, there are big changes coming as announced late yesterday three stocks in. Three stocks out sales force will replace exxon mobil.
How hot are we talking about on day one of the heat wave . 110 antioch, 103, 98 in santa rosa, 95, san rafael, 77 in San Francisco, 70 degrees in half moon bay. This is just the start of the dangerous heat wave. It is only going to get hotter as we head to the second half of the Holiday Weekend. Ill be back with the details coming up. Now in morgan hill, this Ace Hardware Store is already out of large fans but they do have generators. Theyve been struggling to keep the shelves stocked since the last heat wave just weeks ago. Generators, misting, hosing, all of that. Were pretty solid on it. The store manager says pools have been hard to come by with people looking for any way to stay cool. A lot of beaches in the bay area are closed this Holiday Weekend. In marin county, visitors are not allowed at point reyes, pacifica has closed all of its beaches. The fitzgerald Marine Reserve and Tunitas Creek beach is closed. Lake berryessa because of the wildfires is closed. Santa clara has close
China trade talks are off. President trump says hes postponing any talks as leaders, xi jinping reportedly facing opposition from within his own party. Its another big day for retail earnings this morning. We are waiting on lowes, target and tjx opening before opening bell this morning. We are talking with apartment ceo after reporting double beat yesterday. He will talk about the pandemics impact on Consumer Habits and concerns over stimulus checks drying up. Markets this morning looking for another recordbreaking day, take a look at future, indicating a gain, dow futures up 51 points, nasdaq futures up 18 and s p and nasdaq continuing in record territory as you see there they are up this morning after hitting alltime highs yesterday. S p 500 scoring fastest rebound from a bear market in history. Yesterday the dow was down 66, but the nasdaq was 81 and the s p up 7 points. New york city is about to get sweeter, krispy kreme opens Flagship Store in times square, ceo live here at 7 20 a
He c. E. O. Of verizon, Hans Vestberg as we proceed throughout the hour. Francine european economies are starting to claw their way out of recession and we had encouraging p. P. I. Physician and the confident p. M. I. Jumped to 54. 8 with the services and manufacturing sectors expanding. Joining us now from paris is william, the Bnp Paribas Group chief economist. It feels like this was a good week for europe. We have the p. M. I. More than expected and the Recovery Fund. If you look at job losses theyre going to get ugly in europe. William that is a concern i have if you look at the p. M. I. Data today. What strike is that yes, manufacturing significantly and new export levels in germany are just flying but the employment series is showing that companies are under no intention whatsoever to increase hiring and on the contrary. Thats a concern. Its a concern because the recovery will depend on what households do, how much they spend and they need confidence. Alix what is going to give t
Texas. Meantime, covid19 cases continuing to rise with 4 million reported across america. But today, the u. S. Centers for Disease Control that is control is advising schools to open, after originally highlighting the risks. It added up to another down day for stocks. Joining us, abigail doolittle. Abigail a lot to digest, and you nailed all the issues. A big piece of it has to do with the big xl off, but the rising tensions with china have been the backdrop for the past two years, but really coming into the forefront here. And economic data, frankly, not right. Investors are paying attention to that. You put it together, nasdaq 100 down. 9 , down on the week for the second week in a row. Stocks hit even harder, down 1. 6 . What intel really disappointing, at lowes down 18 per soient, worst day at that point since 2000 to one Third Quarter guidance for that chip to let you talked about, and also the idea that manufacturing of their trips could be changed. We had investors going into a