Investors are back on and betting that stimulus is off and their favorite trade is back in. They, amazon, facebook, are all helping the s p 500 higher today, having held it back earlier this month. Stimulus is not just key to the Value Investor right now. Fed chair jay powell and treasury secretary Steven Mnuchin making the case today for more stimulus. It looks as though the base case is no additional fiscal support. That is why we are suddenly seeing the rotation back into big tech and byebye any value investing. Joe yes. The prospect was already looking dicey for fiscal stimulus. With the new fight in d. C. Over the vacancy on the supreme court, that reduces the odds. But even setting aside the market question, we hear from fed chair powell that to get a robust recovery, we need more stimulus. It was expected by the fed we would have it. Bloomberg economics is projecting that gdp growth will be 5 slower than it would have been in q4 in the absence of stimulus. Again, rotation, value
Today. Tech stocks continue to lag. Lets get to bob for more on todays Market Action. Bob. Hello, melissa. Were near the highs for the day but have not been able to get into positive territory. Sec cyclicals tend to lead banks are having a pretty good week strong trading revenues. Jpmorgan, same thing there important thing here is banks tend to drop in the week of their first earnings report. Thats when jpmorgan reports this week not so bank of america strong you saw there kbe, theres a bank index almost up 5 for the week banks have been terrible under performers megacap, theyre down this week. Some of them are down. Amazon is down about 6 for the week apple is flattish. Most of the others are down 2, 3, 4 . How about netflix, which is a faang name out there its been all over the place 500 to 570 back down to 500 the important thing here Social Security moved in a 5 range today. Lot of volume. Three times normal volume. Thats typical for netflix well get the earnings soon here finally
Talking about. They will process the tests with a turnaround time of three days. Yes, its going to be so cvs is adding 31 sites in the much better today for the inland state of california but nine of them are here in the bay area areas. In spots like dublin where we take a live look right now where for Alameda County which is good we start out with our because its the new hot sp temperatures fairly mild right now in the upper 50s, but it right now at 5 43 im having remember, you dont have to go wont warm up as fast. A hard time picking a sun rise were looking at mid70s by this in the store particularly if you of the day because all of them are symptomatic. Are so beautiful. Afternoon. Ill also be tracking a chance you dont want to do that. If youre a regular cvs customer of rain in the weekend forecast. Ill have a look at that coming you dont have to worry about up in a few minutes. You can see the fog and that becoming affected that way. Will provide some cooling today vianey has been
Outbreak has slammed a number of sectors especially the Music Industry which thrives on Live Performances we bring you expert insight on the topic with a packed show today so lets dive in. And we lead the program with the latest on the contentious relationship between u. S. President donald trump and twitter now the tweets in question today as unrest in minneapolis minnesota escalated thursday evening as protesters broke windows and scaled a fence and eventually set fire to a Police Precinct station in the city demonstrators have taken to the streets of the southern portion of the city for days following the death of george floyd who died in Police Custody while handcuffed as an officer pinned him to the ground with his knee while floyd said he could not breathe now this sparked protests throughout the nation as well friday afternoon Derek Shaaban the Police Officer who held his new deployed snack was taken into Police Custody on 3rd degree murder and manslaughter charges. In a tweet p
Unveils an 8800000000 dollar plan to revive the french Auto Industry by making it europes top car producer. In the f. B. I. Investigates the death of a black man in minnesota after a video emerges of a white Police Officer kneeling on his neck. Hello thanks for joining us concern is growing at the potential scale of the corona Virus Outbreak in latin america the World Health Organization says the spread is still accelerating in brazil peru and chile with nearly 150000 deaths the continent is now seeing more new infections daily than in europe and the United States but anger is growing over how governments have responded to the pandemic with many people saying the poorest are suffering from lockdowns alexy obrien has more. In a quid or they marched in defiance of the lockdown angry over government cuts to jobs and salaries brought in to tackle the pandemic was the mayor of the capital quito had asked the crowds to stay home because of the risk of infection but these protesters believe t