Bloomberg. Why two different stocks could start the burn power lunch starts right now thanks and welcome to power lunch, everyone stocks are retreating from their record highs were off the lows of the session today, but the dow still down about 200 points and the nasdaq getting hit the hardest down 1 today as some of the big e trades are getting dumped. Including the likes of Virgin Galactic and take a look at the tenyear yield sinking near the lows of the session and briefly touching lows of the year at 1. 257 for more, we go to bob pisani an the New York Stock Exchange. Bob. I think you had a good point there, kelly momentum is the issue. I want to show you the s p 500 we had a very short but shr sharp sell off right here. S p future, big volume in the emini futures. That tells you somebodys lightening up on their positions. Its the big momentum really associated with growth names you have Virgin Galactic, but look at the midday drop. Qi earnings have been low and we dont have a lot
That stock soaring today after meeting expectations on earnings. This company now has a higher multiple, higher market capitalization than wall administrator. Probably higher multiple, too. Yeah. Im sure it does, as a matter of fact. But is it justified . Well talk about that coming up, as well. Heres the markets right now. Final hour of trade on this mid ferm tuesday and the dow slightly higher after spending the morning in the red. Higher by 22 points or so. The s p though is negative off by about 5 and the nasdaq off by about 14 and talking about whats off today, bill, may have something to do with the midterms and a question to explore. The price of oil as you mentioned. Fouryear low for wti which well get to here and the closing bell exchange. Mark spellman joining us here at the new york stock exchange. Amy wu is with us. John manly. Kenny pulcari and our own rick santelli. Why isnt the low on oil putting more downward pressure on the stock market hand it has . Im on the opposite
And well go wherever the facts lead us. This morning i spoke with my good friend, orlando mayor, and i conveyed to them the deepest condolences of the American People. This could have been any one of our communities. I told him whatever help he and the people of orlando need, theyre going to get it. As a country, well be there for the people of orlando today and for all the days to come. We also express our profound gratitude to the police and First Responders to rushed to har harms way. Their courage and professionalism saved lives and kept the carnage from being worse. Thats the kind of sacrifice our Law Enforcement makes every single day for all of us, and we can never thank them enough. This is an especially heart breaking day for our friends and fellow americans who are lesb n lesbian, gay, bisexual or transgender. The shooter targeted a nightclub where people came together to be with friends, to dance, sing and live. The place where they were attacked was more than a nightclub. I