And welcome to power lunch. Im melissa lee. Check out this rally right now all 11 sectors are in gree green. Taking a look at some of the stocks were watching. Salesforce is under pressure for the second day in a row, down about 7 in the last week as it gets set to report earnings after the bell and reportedly to make a deal. And we have exclusive data on how the bitcoin boom is boosting this payment stock first lets get over to bob for more on todays rally. Hey, bob hello, melissa. Good start to a traditionally good month we got talk about a new stimulus plan, janet yellen on the air and, overall, 11 sectors all on the up side. Bank stocks leading the way but technical stocks also. No dig selloff in tech that was also a november play there. Theres energy you have your value play with banks, energy up you have your growth play with tech, cyclical with industrials up and even more defensive groups, Consumer Staples on the up side as well. This is what i mean when i say the goldie locks
Consumer in this covid economy and a ventilator boost from medtronic, but sales for other medical devices remain lower medtronics ceo will join us exclusively later this hour. Carl, jims shaking his head already. I dont know speculative market ive ever seen i was going to say, jim, i mean, what a confluence of headlines and then to layer on what you were talking about with becky, this seemingly endless generational bid for stocks in general. You know, look at these plug power did a deal last week, 38 million shares of 22. 25, norwegian did a deal of 40 million shares at 20. 80, carnival did a huge deal at 17. 59, up huge on that, American Airlines did a deal, huge amount of stock, and about price that is a dollar below where this it is trading. Ive never seen anything like it where are the profit takers . Where are they i dont know. This is listen, we have been talking about this new cohort in the market, theyre for real, man. They are real it is not just ev stocks that are ev Companie
Leventhal. We are basically at the highs of the day, call it a 500point gain, the s p 500 good for 1. 5 . Nasdaq which was negative very early today is back above 12,000, thats a gain of 1 . The small caps have had a tremendous run of their own. The russell 2000 is up by better than 2 . Josh brown, if i told up that the dow on march 23rd hit a low of 18,213 and we have had a 12,000point rally since then, you would say what i would say this is why people who are not only invested for long term by continually adding to their investments, 401 k s or automated advisers, et cetera, have done themselves a huge favor people on the other side of that debate who think their job is to wake up every morning and make in our out decisions have not done themselves a favor. Im 43 years old im pretty sure ill see dow 100,000 someday. Is he you have to orient your mentality in order to get to days like today. If your mentality is oriented toward trying to outsmart everybody all the time, you dont get t
Selloff and a dollar selloff at the same time . What does that actually mean . We will break that down as well. Guy and youve got bitcoin rocketing to a record high. Out of the United States, pending home sales month on month a little weaker than anticipated, 1. 1 . Expected at 1 . The prior number revised a little higher. These have absolutely rocketed. The year on your number now stands at plus 19. 5 , which is another incredible number to think about. Lets get back to the vaccine. Is monday, and every monday morning it seems we get some news. Moderna is planning to request clearance for its Coronavirus Vaccine in the u. S. And europe today. Ceo speaking earlier to bloomberg. We have millions of doses ready. We have more and more every couple of days. Joining us now is robert. He spoke a little earlier on. I think they have a review coming up on the 17th. After the potential clearance on that date, how quickly can we get things up and running . Robert they have been told in publicu.
I now recognize myself for an opening statement. Chair,his tenure as fed he served as the chair of president bushs council of economic advisers. In their first congressional testimony since leaving the Federal Reserve, former chairs ben bernanke and janet yellen called on congress to take action to encourage economic recovery. To 2014 before being appointed chair. In 2014 by president barack obama. Dr. Yellen also previously asved in the white house chair of the council of economic advisers. Time eitherfirst dr. Bernanke or dr. Yellen have testified before Congress Since stepping down from the Federal Reserve. These extraordinary times require congress to seek out of experts with extraordinary experience. As Congress Works to end the economic crisis and enable a strong recovery, we are fortunate to benefit from their individual insights and gain from their unique position as Federal Reserve chairs in the last economic crisis and recovery. I want to thank both of them for agreeing to te