The pandemic is raging works like a charm can this market really be that binary can it really be that stupid to borrow a line from that masterpiece of english literature, this is spinal tap, its a fine line between clever and stupid [ drumroll ] the dow only gained 300 points, the short answer is, yes, it really is that simple. When texas was forced to pause its reopening plan because of record covid infections, a m suddenly the stay at home stocks came back in style i guess the virus didnt get the memo about not messing with texas. Many of todays winners were the usual suspects that benefitted from the pandemic. Plus the oils and the banks, though that was a femoral, given everything was stay away from the banks. Any way, before we get into the specifics. How the heck can this market rally on truey terrible news we have a horrific outbreak in the sun belt, we hit a new record for covid cases yesterday. The virus is back in exponential growth mode. The human cost could be enorm s enorm
The hard earned dollars. This is facebook could facebook be broken up by government shares down on the threat of government action. All that ahead but beginning with the headline sending stocks to new records. The United States and mcagreed in principle to phase 1 of a trade deal Kayla Tausche live at the white house all day. Breaking news all day long and joining us now with the late breaking details kayla. Waiting official word from the white house and the u. S. Trade representative on a limited agreement between the u. S. And china that would see tariffs on sunday delayed or cancelled and would potentially roll back some earlier tariffs or cut the tariff levels from previous rounds. The wall street journal and bloomberg both reporting that President Trump has signed off on this agreement that was presented to him by miss top trade and economic advisers earlier today. The meeting that the president held was for roughly an hour in the oval office. And at one point he was joined by ceo
Die. Thats the mantra so many businesses out here. The tsunami of invention disruption reaches far beyond this intense city and the valley that abuts it. The storm clouds darkening the fortunes of others in the inevitable riptide of creative destruction. The reverberations rattle whole industries with a wake so brutal they often determine the direction of stock prices in whole segments on a day where the dow dropped 55 points, s p lost. 16 and the nasdaq decreased. 24 lets just deal with the news. Take the biggest stock news of the day, the possible combination between shop and Td Ameritrade with the former buying the latter in a 26 billion combination that would create what might be an unbeatable 5 trillion online colossus these two companies have been sworn opponents ever since electronic trading became the way of the future more than 25 years ago. They have been in a battle for assets come on, its been incredible. And assets and commissions, the latter knowing no bounds with pervasi
We will hear from qualcomm Ceo Steve Mollenkopf on the race to 5g. First, nasdaq climbing to a record even as the dow sank following disappointing reports from retailers. Some big tech names leading the way on nasdaq were facebook, broadcom, and tesla. Reports that u. S. And chinese negotiators may link the size of tariff rollbacks to terms set during talks in may. I went head over to new york where Bloomberg Cross asset reporter Sarah Ponczek is standing by. Are we ignoring the trade headlines . Sarah i dont know if we are completely ignoring the trade headlines, at least the good ones. That the u. S. Is softening its stance, that did engage in negative outlook. Take a day like yesterday, a bureau chief from cnbc noted that the tone in china is pessimistic. They were unfortunately seeing that the u. S. Was not going to rollback those tariffs. Focused on stimulating their economy. The s p 500 Information Technology index hit a new high, apple hit a new high. The bad news, as you said,
Coordinator of all of her state campaigns issuing flaming letter as she walked out the door accusing the campaign of treating the staffers so poorly she had never seen anything like it. Coming up at 6 00, wooell talk about the Campaign Strategist with willie brown and the mistakes he say they made. Thank you. There was a lot of infighting there. After senator harris made the announcement President Trump responded on twitter saying too bad. Well miss you. Harris fired back, saying dont e our coverage on our website. We have compiled a list of the 15 demonstrates still in the race. Point your iphone at the qr code to get there quickly. Its at the bottom left of your screen. It will take you right to the nbcbayarea. Com page of politics. We got break in the weather. Looks good outside. Rain is heading back. Here is a live look at the view of the golden gate bridge. It looks nice. Jeff is here with us now. When can we expect the rain to come back . Over the next hour or so we are tracking