Welcome to power lunch stocks are mostly in the green but off the best levels. Nasdaq hitting new intra day record highs check out shares of walmart soaring more than 4 adding more than 20 points to the dour the dow he they bought back more than 20 million worth of stock and airlines are up 2 to 6 bullish signs fueling this group. We have the details just minutes away and im Michelle Carusocabrera here is what else is happening pfizer is thinking about spinning off its 15 billion Consumer Health care business. Honeywell also shaking up its business focusing more on aerosparroeros. And the imf raising its Global Growth forecast to 3. 6 this year and 3. 7 for next year. President trump right now having lunch with secretary of state Rex Tillerson. That is their first meeting since the reported moron comments eamon javers is live with the latest this one could be interesting. Reporter yeah, thats right. In fact what were told by the white house is this is not the first meeting, it was not
Agreement later on, but nobody really knew, so this really caught able by surprise. This really caught people i surprise. Energy stocks the really big mover on the day. This is the russell 3000 energy, closing out right at the highs of the day there, over 4. 5 gain. Rallying. Ng, energy truly the story of today. Scarlet we have mentioned the rally off the back of oil. 500 closing up about. 5 . Lets look at some individual things. Lets take a look at saudi arabia and stocks. We saw those were down quite significantly yesterday. They were down 3. 4 yesterday. It will be interesting to see it tomorrow, as that part of the world wakes up, if there is an improvement. Mattresse a look at maker, temper seeley tempur sealy. That was down. Finally, you guys all remember blackberry, right . Joe no. Scarlet it was up after it announced it would no longer make its infamous blackberry phone. Thats the end of an era. Remember when we were talking about them and calling them crackberry . I used to fi
And thats what happened today with the dow roaring 217 points, s p 1. 4 and nasdaq flying up 1. 82 . Think about the sequence of events just over the last couple weeks. First the fed says things arent Strong Enough for them to raise rates, economys not that good. Secondly china putting up very weak numbers. Third, Major Industrial Companies Like caterpillar tell us business has slowed down maybe dramatically. Nonresidential surveys show a pause in building. Fifth, we hear major mineral mining like alcoa, six Delta Airlines just talked about developing wide body airplane. Seventh, that powerful engine of job creation the oil and gas industry has gone almost full stop because of an epic glut in all things energy. Finally, eighth, the c only yesterday we heard the Worlds Largest retailer, walmart, sing the blues. About the need to spend a fortune in order to stop the death by a thousand cuts of weaker same store sales. You put all these together and you get something weve seen happen time
Mining like alcoa, six Delta Airlines just talked about developing wide body airplane. Seventh, that powerful engine of job creation the oil and gas industry has gone almost full stop because of an epic glut in all things energy. A finally, eighth, the only yesterday we heard the Worlds Largest retailer, walmart, sing the blues. W about the need to spend a fortune in order to stop the weaker same store sales. You put all these together and you get something weve seen happen time and time again in opere buyers cut loose from the industrials, and they go for the gusto. They return to their always companys that have hypergrowth no matter what the state of the worlds economies. Er and where is there real growth and corporate revenues in profits regardless of the economy . The first place you look is biotech. Gr this is a sector switched from bull to bear overnight. He its been a oneway ticket to sheer hell for weeks now augmented by fears that the ks democratic president ial candidates in
Us business has slowed down ha u n maybe dramatically. Nonresidential surveys show a at pause in building. Fifth, we hear major mineral mining like alcoa, six Delta Airlines just talked about developing wide body airplane. Seventh, that powerful engine of job creation the oil and gas industry has gone almost full stop because of an epic glut in all things energy. A finally, eighth, the only yesterday we heard the Worlds Largest retailer, walmart, sing the blues. W about the need to spend a fortune in order to stop the death by a thousand cuts of weaker same store sales. You put all these together and you get something weve seen happen time and time again in opere periods of economic softness. Buyers cut loose from the industrials, and they go for the gusto. They return to their always first love, the stocks of companys that have hypergrowth no matter what the state of the worlds economies. Er and where is there real growth and corporate revenues in profits regardless of the economy . T