Everywhere as more and more companies file for bankruptcy. A to analyst says a number of fla names could come out stronger. Later, what makes tiktok tick. An inside look that is dominatidominate ing social media as china is saying it would rather shut down the service in the u. S. Than succumb to a forced deal well tell you about that as power lunch starts right now thanks welcome to power lunch lets take a closer look at plarkts right now. You have industrials and materials leading the way higher in fact, materials is the only sector in the green this week. We havent talked a lot about that as a source of leadership tech that had been the leadership havent recovered from the steep sell off. The nasdaq still down about 11 from its record high its worst for a lot of the individual names docusign down from its 30 high. Tesla down 27 from its all time high apple is lower today apple is down about 20 from its high as well apple near a 3 decline. Tyler, back to you with can skinny stimulus
Benefited from the stay at home trend, both popped into the open both have gone lower all day long big swings and stocks are set for the second straight week of losses the s p 500 just fell through the 50 huday moving average. 59 minutes to go on a volatile day, week, and final hour of trade. The s p 500 is flat right now. Fwha but that belies the volatility that youre talking about. We have a big lineup on the show coming up, the ceo of kroger will join us on the back of the companys strong Earnings Report better than expected guidance as well plus, labor secretary Eugene Scalia will be with us to discuss the job situation in the country and the renewed push by some companies to bring workers back to the office and one brookings economist has a bold idea to get america back to work and speed up the recovery pay people to have a covid19 vaccine. But lets get straight to the market another wild session to close out a roller coaster week. Mike santoli is tracking all of the action today
With the reality of inperson classes amid the pandemic. A surprise cfo shakeup is sending one stock at the center of the coronavirus sinking and tesla and when it comes to electric vehicles. Evs. You are watching Worldwide Exchange here on cnbc good morning. Im dominic chu in for Brian Sullivan today stock market indicating modest moves. You have moves with the dow implied higher higher by 26 and by just about five points. This is after the s p 500 after multiple tries and record high since february from that march 23 bottom to yesterday marks the end of the shortest bear market in u. S. History at 148 days. A 35 drop for the s p and 55 rise to those record levels we are right now. The s p not alone. Continuing to outperform coming off its 34th record close of the year just yesterday. In bonds, the 10year currently sits moving a little bit around 6. 5 or 4. 1 as the fed prepares to meet the minutes from the policy position later today. Let us go worldwide. Geoff cutmore with us with th
Were going to give them more. Target soaring today if youre looking to buy the stock now, have you already missed the mark . We will debate plus, we are following the after hours action in shares of both nvidia and l. Brands both stocks on the move after reporting results. Well break down the numbers a surprising stat on l brands that i promise you did not know. Later, bonawyn is taking to the mound to pitch his next best idea why he thinks this housing play may be a total home run. We are going to begin now with breaking news on airbnb and their plans to go public lets bring in deirdre bosa with more on the details. This is a filing that we have been waiting for for a very long time however, airbnb filing confidentially so well have to wait a little longer this isnt unexpected. A source told me airbnb could file as soon as august and shares could trade this year just because you file confidentially doesnt mean you have to ipo any time soon. What may be surprising is that airbnb is fav
The 27,700 level. Remember, it was 18,000 on march 23rd. The s p, what, nearly 3400. New alltime high. The nasdaq well over the 11,000 mark. Who would have thought of that. Add it all up and yes, we are now in a brand new bull market. Heres another reason for the rally. Terrific performance from major retailers, target, out today with a blowout report. Online sales nearly tripled. It was targets best overall growth rate ever. That stock is going straight up. Add this to the numbers from walmart, home depot and its clear the major retailers won big by staying open in the lockdown. Really, though, kind of tough on the smaller operators. Got to get to it. The convention, boring in my judgment. Tv ratings way down. Wheres the excitement . Everything is on tape and the whole thing lacks the spontaneity of a live crowd. The performance of the old guard, bill clinton, john kerry and a grim chuck schumer. The bright spot was aocs oneminute appearance. She nominated Bernie Sanders. The democrat