Forces at play. Lets get to kaylee. We are marginally positive on the s p 500. Up. 5 . I want to talk about the best performing stocks. Upex was the best performer, 13 after blowing away expectations in the First Quarter. All of those people shopping, ordering things to their home, boosting revenue by 20 . That stock heading to its best day since 1993. Pfizer getting a nice list after positive results nice lift. Beer and wine sales plus better profitability. I want to talk about technicals for a moment. After the best quarter since 1998 for the s p 500, we start the Third Quarter in a strong position from that standpoint. The index starting july back above that support line. I want to talk about longterm ipo performance for this year. As you mentioned, dun and bradstreet returning to the Public Markets today rallying 17 after raising 1. 72 billion. The other large offerings, warner music and zoom into technology which is up more than 100 . E a nice day for dun and bradstreet. The jobs
Stocks are working on backtoback negative sessions on fresh concerns about the virus weighing on sentiment. Josh, i feel like the great debate its the reopen trade versus the reality of the virus trade. You have the country wants to get back to business and normal versus the fact that the virus is spiking in some very big and important states. Yeah. I think thats exactly the right way to explain it, scott i think theres a large group of stocks, things like airlines, retailers, we talk about this all the time they seem to be having the red light green light days and then theres the large market capitalization names that seems to be unfazed i think whats interesting now though its not just f. A. N. G. Stocks theres a wider group of stocks that seem to want to go up, almost no matter whats happening with that resurgent story. I think thats what most traders and what most active Market Participants are focused on. Look at name like spotify, this stock at an alltime high. Up 19 overthe last
Here are your top headlines from the bloomberg terminal. Angela merkel, the radical, the german chancellor throws her support behind the euro stimulus plan. She warns her fellow eu leaders that there is no time to lose and agreeing a deal. Is yet to come. The World Health Organization warns that a lack of International Cooperation means the virus pandemic is far from higher as aks push volatile first half comes to a close. Controversiales a security law after the u. S. Commerce Department Suspends regulation allowing special treatment for the city. As i said, just under an hour away. We are looking at futures pointing lower for the ftse right now. Andttle higher for the dax the cac. See euro stoxx 50 futures and ftse 100 futures are down. S p down just slightly as nasdaq futures edge a little higher. Lets talk about anna lets talk about breaking news. ,hell seeing volume guidance 3. 5 million to four point 5 Million Barrels per day. That is substantially weaker. Weakve seen extremely d
Contracting by 5 this year and within the s p headlines like those punishing reopening trades, punishing pretty much everything as you can see behind me particularly the likes of norwegian cruises, winn resorts, banks, airlines sliding significantly. Some of those names down as much as 10 sara. Weve got a huge lineup of guests to help make sense of this selloff today for you air yell investments john rogers saw a onceinalifetime buying opportunity. His take and where we stand now. Plus well discuss the new tristate travel order what it means for the entire leisure landscape for ceo of booking holdings, a perfect day to get thoughts on what travel will look like well speak to the ceo of slack about working and new product today. Full Team Coverage of this pullback and final hour of trade. Mike santoli tracking Market Action the most concerning covid outbreaks with the new numbers and Brian Sullivan watching the drop for energy sector, the worst performer. First lets get to josh lipton w
Up for an eighth straight day. The mega cap tech names making the new milestones josh, the big five as we say amazon, apple, facebook, alphabet, microsoft all but alphabet hitting the new highs today crossing 6 trillion as you flag end market cap for the first time ever. They, amazingly, are now equal to the next 24 largest s p 500 stocks combined. You flag that. Yeah. What do you make of it . Yeah, so my research. We put this up last night. Just incredible when you think about the companies that make up that next 24 were not talking about small potatoes were talking about jpmorgan which is a 300 million cap and pepsi, coke, mcdonalds. Its really wild and these stocks now are just going parabolic. I think i want to maketwo points very quickly. The first is that this is not unprecedented. In the mid 1960s just two stocks General Motors and at t made up 14. 5 of the total market cap of the s p 500. And the top ten names in the mid 60s made up about 50 of the market cap so, we have seen t