Taranova were green across the boards. Dow, s p, nasdaq all green jim, we have a big rebound in the nas names. Best pace on the month since january of 1987. Well, scott, first off, thank you. Every year you and throughout the year you give a lot of respect to veterans. It means a lot to me personally. You and the team at cnbc, thank you very much. Onto the markets look, a little reversal today where the cyclicals are fading and tech is rallying i think thats healthy i mean, look, weve had one heck of a rotation. Not just this week but in the last two months its been going on its time for a pause. And i think the most Important Message here is, anyone whos feeling like they missed out, you dont need to feel that way. If you feel like you missed out on the tech rally of the summer, well, guess what, september and october have given you the opportunity to get into those largecap tech names, the faang names. If you feel like you missed on you the on the cyclical rally, thats going to go on
Coming up, in a few moments, Global Investor mark mobius will join us. Chinese equities see a big week of gains they slipped a bit this morning. Shares of carnival jumping after they gave an update on the state of its business. Well speak with the Ceo Arnold Donald in a cnbc exclusive and Major League Season starting the season in florida. Well speak with the leagues commissioner about the risks and reward of taking to the field. We look forward to all that. Sara, up 0. 7 on the s p 500 lets start right there with the markets. The we have seen a big swing intraday futures starting off in the red. Hopeful signals then coming from gilead about the coronavirus treatment. Helping turn things around early. The company saying it was associated with an improvement in clinical recovery and 62 reduction in the risk of mortality compared with the standard care. Lets get to mike santoli tracking the moves in the names and sectors today. Yeah. Sturdy Performance Today solid week you would have tho
Ss . The Trump Administration promising help for businesses big and small affected by the coronavirus outbreak. The cruise industry, will it be first in line, hat in hand, after getting soaked yesterday . Cruise line stocks are still getting buffeted by wild investor winds this session with major names halted multiple times in hopes of the government throwing the industry a life preserver. One of the worlds leading Infectious Disease experts faces off against cruise industry guru the cruise guy. He says cruise ships should not be taking off at all until the virus is better understood, while stuart says he would jump on one and travel the high seas right now. Stay tuned for that debate. One of the most respected Bank Analysts in the nation waved the warning flag on bank stocks five weeks ago. Dick bove way back on february 3rd said stay away from Financials Due to this mystery virus that appeared to be spreading back then in china. Dick is back today in a fox business exclusive. We will
Too glib maybe not glib enough. The dow did snap that five day winning streak to close down 28 points the s p back slid. 04 nasdaq actually advanced. 05 but while most of the country is spell bound by the prospect of the house impeaching President Trump the effect on the market was minimal, why well in part because we know exactly how the trial in the senate will go more on that, much more on that later. From an Economic Perspective though theres just not a lot at stake here the only outstanding issue that really matters to wall street is the negotiation of the new nafta but thats looking like a done deal in congress because Speaker Nancy Pelosi was willing to compromise mexico is rebelling against the notion of u. S. Labor law monitors in their country, issues of sovereignty. Of course theres the trade war with china just got a phase one deal with the chinese and President Trump agreed to reduce the tariffs as long as the prc plays ball anything that levels the Playing Field with chin
Its really bad in parts of the east bay, the trivalley as well as parts of the peninsula. Now, as we take a live look outside in walnut creek, you can see the clouds in the distance there, and there will be some spots where it just suddenly clears up and then youll run back into that fog on your way to work. Were going to see temperatures in the mid 40s and then as that fog clears out around 8 to 9 00, well get some sunshine today as we take a break from the rain. There is another storm system out there thats moving a little bit closer so well talk about the impact that will have on our weather as we go through the week. Mike, you were just saying three letters, fog. Thats right. I was mistaken, the corner of that building i think is from our emeryville camera. We have backups in the last five minutes. The cash lanes are backing up on both sides at the bay bridge. This foggy area, really dense fog in patches around the bay and a disabled vehicle going eastbound at highway 4, eastbound