Upping its offer for an aid package to 1. 8 trillion, President Trump tweeting go big a positive development on the covid treatment. Gileads treatment helps infected people recover five days faster than average and tech stocks are outperforming as a massive deal is in the work the week capping it off with a bang. Absolutely. The russell 2000 is up 6. 4 for the week the dow is currently positive for the year as a whole, just. Lets get to the stimulus news in washington and the reaction to it. Bob basketball has a look inside the market rally ylan moi, and Dana Peterson from the Conference Board bob, lets start with you on this very nice end to a strong week. Good news and bad news, will. Good news is, s p is up about 3 on the month the bad news is i am seeing a little bit of an inversion of the stimulus play today. Thats concerning if you are a believer in stimulus remember the stimulus play, bicyclicals materials and banks and industry and energy and go light on technology. That was wo
Sorry to cut it a bit short today, a lot of news today thank you. Meanwhile, welcome everybody, this is squawk alley, were continuing to hunt for indications and clues. Meadows, kudlow, mnuchin all saying mild symptoms, and leader mcconnell says just ahead a great phone call with potus. We talked business and that really has taken over whatevertrack we might have ordinarily spent on the jobs number we wish the president and the first lady well. We wish everyone well who has had a diagnosis of the virus and there are all kinds of questions now about the state of president trumps agenda clearly the Senate Majority leader trying to emphasize that part of things remains on track as far as the Supreme Court nomination and more, carl, but yeah, well just have to see as well how the markets continue to react to this. Amon jabbers, take stock of the information were getting from all areas of washington dc and all branchs of government. Yeah, a massive Contact Tracing around here as officials s
Airlines tiktok bids moving walmart is now in the mix. Yes, walmart and that stock is up 5 . Microsoft up 2 . A record close watch for the s p 500. At least 59 minutes left of trade. Anything positive, jon, for s p and nasdaq as we go into positive territory with the new records . Once again. And coming up on todays show. Two key reads on the state of the recovery in america. Well speak with the heads of Regal Cinemas parent cineworld and ihg group about safety and demand in light of the pandemic. And counting down to big earnings after the bell, including dell, gap, hp and more well bring you all of those numbers as soon as they hit. Now straight to the big stories we are watching today. Mike santoli is tracking todays volatile Market Action Steve Liesman and Morgan Stanleys chuten aya are here. And ylon mui has details on the new rapid covid test and bank of america is calling it a gamechanger. Start us off were extending up into record territory a little bit erratic fashion the mark
U. S. Cases do continue to decline. The fda gives the go ahead for plasma use in hospitalized patients and a potential vaccine fast track and tech on a tear. Shares of apple up nearly 75 this year ahead of its four for one stock split today. Jim, we have all that to handle and jackson hole this week, the rnc and couple tropical storms in and not a sleepy august it should be a sleepy august, and its not august supposed to be a down month and its not people say, wait a second. 70 of the market didnt do well last week. I always find those kind of things because 70 of the market does well this week. You dont have a bunch of anything to hang your hat on when you look at a big apple price target increase basically to where the stock is you realize, wait a second shes the first. But will everyone have to follow every price target is below where the stock is a lot of people feel enthusiasm for the stock split. Of course, that is part of it. I know stocks mean nothing but they excite people she
Welcome to squawk alley. John fort has the morning life watching carefully as both apple, tesla, and the thatnasdae dipping into the red lets go to alex sherman tiktok is suing the u. S. Government over effectively banning the app come september 15th tiktok released a blog post right now explaining the rationality behind the lawsuit against the u. S. Government. There are two administrative actions that the Trump Administration has taken the fist would effectively ban the app by september 15th. That is the one that tiktok is challenging saying it has been preventing due process it has worked with the government for almost a year trying toics plane that it is not, in fact, a National Security threat. Their parent is bite dance that is what this has all been about over the past several months the order demands that bitedance die vest tiktok by october that means the sale talks with microsoft and oracle will continue tiktok has at least challenged the effective ban that takes place next m