Is the first air travel bubble of its kind. There we go. We should be watching airline stuff as well but a lot of that thisready priced in after bubble was announced a few weeks ago. A have a look at the tech index here. Alibaba and tencent on the market at the moment. They are taking 179 points off the hang seng index itself. That is as we are seeing this rotation out of tech stocks, a global phenomenon at the moment. This will be because of the regulatory challenges we will be facing through some of these online retailers. Juliet . Juliet lets get Market Analysis with patrick, the global asset strategist. Patrick, we are finally getting this news of this travel bubble between singapore and hong kong. This is one thing that investors have been looking for when we start to see Global Travel open up and how that will feed into the energy markets. Lets get to our question of the day. That is when will crude back to these march highs . What is your view . Patrick morning. We are not speci
Dangerous new phase. The World Health Organizations dire warning as coronavirus cases soar in the u. S. , 12 states hitting record highs. Preparations for a possible second wave under way in the white house. Florida closing in on 100,000 cases. New concerns it could be the next epicenter. The surge putting the return of sports at risk. Major League Baseball once again shutting down facilities, and comedian d. L. Hughley recovers from this frightening incident in nashville, collapsing on stage and testing positive for the virus. Investigation under way. A noose found hanging in the garage of nascar driver Bubba Wallace, the leagues sole fulltime black driver who fought to have Confederate Flags banned from saying he will not back down. And the 2020 virtual espys packing a powerful punch. We need a change, and we need it now. One of sports biggest nights kicking off with a call to action for all athletes. Sports give us hope. Sports make us feel. Sports bring us together. Highlighting in
Ahead on todays show, fashion in the time of coronavirus. Well speak to anna wintour about vogues new partnership with amazon on a Digital Store front. Plus we will speak to truist ceo about his efforts now for Coronavirus Relief lets focus in on the stories we are watching Steve Liesman with the highlights from the fed minutes. Just released in the last hour and oliver chen is with us to talk about retail earnings and the big box names he likes so far. Michael, start it off with you what stands out . Yeah. The market just bobbed right back up from that lateday selloff yesterday. In fact, the low for today in the s p 500 hit about three or four times was yesterdays high. So it seems as if, you know, big money investors continue to behave in a way that suggests they feel underexposed to stocks if theyre not going to pull back a lot weve been talking a lot about this rotation theme. You have small caps up a lot and fin tech and financial all were really doing is stretching the upside of
Tough. In a few minutes, mr. Trump meets face to face with e man yale Marrone Emanuel macron, the president of france. Later he meets the queen at Buckingham Palace. Oh, to be a fly on the wall. The president s negotiating from a position of economic strength. We can wait, chinas in trouble, but investors do not like it. The dows going to be down another 250, 260, maybe 280 points. That would be better than 1 . Same loss or almost the same loss on the s p, down about 27. Nasdaq taking it on the chin to a tune of a 1. 1 . Big deal, big selloff. Another big show on its way. Varney company is about to begin. Well see what happens, but im doing very well if i want to make a deal. I dont know that i want to make it, youre going to find out pretty soon. In some ways its better to wait until after the election with china. But im not going to say that, i just think that. I just tell you in some ways i like the idea of waiting til a after the election for the china deal. But they want to make a
Wall street watching washington today. Stocks set for a lower open. Google, the banker. The search giant reportedly planning to offer Checking Accounts next year and nikes amazon challenge, the sports wear retailer set to stop selling its clothes and shoes directly to the ecommerce giant. Wall streets going to pay close attention to events on capitol hilld chair powell will testify before the joint Economic Committee of congress and the nation will hear public testimony from house impeachment witnesses for the first time the inquiry surrounding the president s actions toward ukraine, for our purposes, jim, well see what powell says first as we expect him to say the economy is in a good place. Yesterday was a punitive moment with President Trump calling for negative rates and i think that a lot of what lets just call all of our watchers who are in the professional side of things, i think were unanimous in what was that about, thats off the reservation. I think jay powell is immune to it