Tech and bond trades play out. Lets dig a little deeper into the virus story in the u. S. U. S. Infectious disease official Anthony Fauci says it wont be a pandemic a lot longer because of vaccine progress. Joining us now with more is bloomberg Senior Editor drew armstrong. We all want to have the monday where we were very happy about the Pfizer Biontech results. What if the state of play in the u. S. . Drew the state of play in the u. S. Is brutal. We are sitting case records because of uncontrolled spread in huge amounts of the u. S. Hospitalizations are higher than they have been at any point during the pandemic. During thet pandemic. Depend on who you ask, 1500 sorry, 1506 to two deaths in the u. S. Yesterday, a number we havent seen since the early days of the pandemic. Numberout every single or way you look at this that you can is going in the wrong direction right now, and newman the hospitalizations and knowing that hospitalizations after that, it is going to be a grizzly pictu
Good Tuesday Morning welcome to squawk alley im Carl Quintanilla with morgan brennan. The market is down about 100 points starting with the apple special event set to kick off from the steve jobs theater in cupertino in just under two hours. Josh lipton is there live and joins us with what analysts and investors and reviewers are expecting. Hey, josh. Reporter so, carl, apples biggest day of the year just about to kick off here right behind me at the steve jobs theater. As you mentioned, analysts think they have a good beat on what is coming theyre looking for three new iphones. Faster processor and improved camera and maybe stronger waterproofing and shatter resistance big question for investors is pricing. What is tim cook going to charge for the new model. Ive talked to some analysts who think he will keep pricing basically constant no big change from the kusht lineup which starts at roughly 750 and 1,100 and expectations are muted on the street. Checked in with gene munster and wha
Recordbreaking day for the stock market we cross one more millennial, have more to go . The president is talking about 30,000 who knows where were going. The important thing is to note how broad the rally is, not just tech stocks, in fact, theyre not necessarily the most important part of the rally. Lets look at the sectors moving financials is been big Interest Rates have been moving up materials, thats a rally thats continuing to ratchet. Energy strong with oil over 60. Even Consumer Staples are leading. You know whats not doing anything anything thats Interest Rate intensetive. Real estate, investment trusts, utilities lagging for a long, long time. Of course, those are bond proxies. A lot of new highs in financials as the higher Interest Rate scenario is helping the banks out. This is a small spattering i could go through American Express, etrade, key corp, suntrust, all sorts of banks all the Major Money Center Banks as well as the super regionals at 52week highs a cyclical rally,
Open. Its all eyes on the screen tonight as the first gop debate kicks off in cleveland while john stewart presents his final daily show. Coming up on the show facebook serves another blow to twitter as it launches a Video Streaming Service but dont expect to see the Worldwide Exchange team on there just yet. Well explain why later. Plus investors cut the cable as disney disappoints. We tune in on the details. Were live in beijing with the latest after investigators confirm a winged washed up on shore is that of missing jet mh370. Disappointing jobs data. The number of new jobs created slowed to 185,000 but at the same time Manufacturing Index jumping to its highest level in ten years. Goldman sachs as well as jp morgan upping their u. S. Gdp target for the year. A slew of earnings coming out today and of course that could change the story on wall street. If you take a look at european markets a host of Companies Reporting earnings in germany and that of course right now at this point
Yes, this is the last hour of trading on this shortened market day and there are fireworks in the stock market a pretty good start to the second half of the year, right extraordinary we are up 200 points just a second ago alltime intraday high for the dow and alltime intraday high for the transports look at financials and Energy Leading the way, some of the laggards for this year and Tom Mcclellan will tell us later why he thinks the bull run is forar from over a new report this morning says President Trumps chief strategist, steve bannon, is pushing for a tax hike for the upper income bracket well get you those details. Youre on a roll. Do you want me to pick this up tesla, yes, its true the model 3 is on its way and the stock market was higher earlier. Its given up many of the gains here ford and General Motors are powering higher after their auto Sales Numbers came out well tell you whats behind all these moves, coming up in fact, tesla says it looks like it wants to turn positive o