Ahead on todays show, fashion in the time of coronavirus. Well speak to anna wintour about vogues new partnership with amazon on a Digital Store front. Plus we will speak to truist ceo about his efforts now for Coronavirus Relief lets focus in on the stories we are watching Steve Liesman with the highlights from the fed minutes. Just released in the last hour and oliver chen is with us to talk about retail earnings and the big box names he likes so far. Michael, start it off with you what stands out . Yeah. The market just bobbed right back up from that lateday selloff yesterday. In fact, the low for today in the s p 500 hit about three or four times was yesterdays high. So it seems as if, you know, big money investors continue to behave in a way that suggests they feel underexposed to stocks if theyre not going to pull back a lot weve been talking a lot about this rotation theme. You have small caps up a lot and fin tech and financial all were really doing is stretching the upside of
Flat for 2020 as tech continues to lead the gains. Financials and utilities amongst the worst performers today coming up on todays show, we will speak exclusively with sap ceo Christian Klein about his companys efforts to develop a coronavirus Contact Tracing app and what hes hearing from customers about the state of local business and the earnings reports will come fast and furiously this afternoon highlighted by lyft, grub hub, tmobile and well speak with tmobile Ceo Mike Sievert ahead of his companys Conference Calls just after numbers cross. The big stories we are watching, mike santoli following the volatile trading action, Steve Liesman with a look at the economy and another sobering jobs number today, and deirdre bosa is covering uber and lyft mike, start us off the s p struggling to stay in this zone for the past few weeks. This is a oneyear march its flattened out since april is it resting, rolling over . Its a bit of a standoff i think people are saying right now its preserve
Well talk about that when power lunch begins right now welcome to power lunch. Im melissa lee. A wild day for the market. The dow now up, look at that, almost 400 points. 1. 5 wiping out yesterdays losses on track for its best day since may. The nasdaq is now up just about 2 as tech leads the charge higher. And check out shares of apple. Having the biggest impact on the dow, it is up about 4 its best day also since may. Kelly. Thanks. We begin with a phone call that turned the markets around. Kaley tausche has all the details of what took place the details we have about the call are coming from china actually commerce minister and hard liner jong chun, and leo ho were among principals from beijing along with Robert Lighthizer and Steven Mnuchin representing the u. S. Chinese tv said the u. S. Asked for the call, but declined to provide a readout or comment whether inperson negotiations in september were discussed. President trump on twitter implying there was a discussion of agricultur
Of decades of experience from ktvu. Fox two news. This is the four city leaders right now searching for solutions as San Francisco flagship macys store in union square prepares to shut its doors after nearly 80 years. That store is expected to close by next year. Welcome everyone to the four this afternoon. Im alex savage and im jana katsuyama. San francisco is not the only city notified of the closures. The iconic location is one of 150 macys stores that the retailer says it plans to shut down. It is hard to imagine union square without macys, but it is now a reality. The city, the businesses and the area are having to deal with, the company, announced its restructuring and Christien Kafton is live there in union square to tell us all the details. Christian yeah, exactly. This is a new reality that businesses, the city, everyone really coming to grips with. Right now. The Company Announcing that it is in fact restructuring to address new financial realities. In a statement, the compan
You have the nasdaq up by almost 9 treasury yields are a little weaker t tenyear yield at 4. 814 . And openai will have a product Conference Announcement today. Sam altman said they will not launch a Search Engine, but working hard on new stuff they think people will love and feels like magic to me according to people close to the information. This Technology Rolls Image Recognition into one product for advanced Voice Assistant and separately or maybe not separately, you will see how things are coming together apple nearing agreement to use openai and its technology on the next generation iphone to allow apple to offer the chatbot as part of the features that are coming next month. The big issue there, by the way, to understand all of this, openai is now processing all of its queries in the cloud apple, for privacy reasons, is to query all with siri and on the device processed on device. The question is going to be is there a clever way with some of the Openai Technology ends up being