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Good afternoon. Welcome once again to power lunch. Im john for tte, energy up 13 this week and financials also down about 2 . Its the regional banks seeing the most pain, first republic, pnc, truest financial leading that sector lower. And Airline Stocks all lower as we get a clearer picture of what Holiday Travel will look like in this persistent pandemic first, lets get to bob pisani for more on the Market Action today. Bob. Hello, john what happened to our value rally . Banks and things like that moving to the up side, Energy Stocks it got smacked by Covid Concerns and by the lack of stimulus. Thats a problem what do we do . Hey, lets go back and buy workfromhome stocks again. The docusigns, zoom videos, activ ....
The bell apple, facebook, amazon, and alphabet we will also get results from starbucks, twitter, act vision and many more names. We will bring you all the results as soon as they hit. Analysis as well to help you figure out how what to do with the stock. Speaking of earnings in joel we will speak with the brandnew ceo of tapestry, her first interview since taking the job that stock soaring after getting a beside on sales in china music mike tracking the broader markets, Steve Liesman, and meg tirrell has the latest on the covid emts troo and vaccines mike, talk to us about the comeback we are seeing. A respectable bounce. Coming into the day the market was stretched to the downside after the declines not just of yesterday but the past couple of weeks. We had lost 119 in the s p alone yesterday. We are regaining not quite half of that. 3,200ish is the level just about everybody is looking at. It isnd responding, but definitely not n ....
First, todays show is brought to you by the letter b thats because bond yields, bullion, big cap tech. Fed chair Jerome Powell gears up for a high stakes speech from jackson hole summit. With bullion up, big tech up, what is up with the market as we gear up for powell, guy . I like to hear you say bullion. I feel like im going to have soup or go back to doing what i used to do back in the day its wonderful you can do an entire show saying that word. Whats up . Risk assets are continuing to go higher based on we talked about this a couple days ago, the fact they said they will be a historic speech for the fed in the way they view inflation, the way they measure inflation and thats why the market took off and i think thats why you saw it probably move today into that speech the things you didnt mention and forget it but they didnt rhyme with b or start with b the russell was down today and the vix closed north of 23 those are two ver ....
Report in the atlantic that says President Trump called wounded veterans losers we will talk to the Vice President , but lets talk more about the nasdaq with the tech selloff continuing. Some of the big names we follow closely, tesla is down after a 9 drop yesterday and today its down about 2 in premarket activity. The chip maker also about 9 yesterday and it also looks to open down by almost 4 today. That is free market activity as well. Zoom after a big day earlier in the week seeing major prophet taking in the last two days down almost 2 and apple surging on its stock split monday but then down another about 7 yesterday down to about one and a quarter in premarket activity after an 8 drop yesterday. We are less than two months until election day and joe biden is out and about. He made another. Dot this could be why the democrats want him to stay in the basement. We will p ....
Good. 50s on the temperatures. Not much has changed until at least tomorrow. Sunday some inland temperatures will jump back into the 100 degree category. Until then, as far as the eye can see in the pacific, upand down it is fog city. Morning fog and smoke and haze. 60s to mainly 80s. Most locations are running below average for september 1. Over to sal. Usually things pick up around the 6 00 our. Are we seeing that . It has picked up. Absolutely. We see some tell by looking at these pictures. Interstate 80 looks good from the carquinez bridge to the maze. When you get to the maze, there is slow traffic at the maze at the bay bridge toll plaza. Is pretty robust although it is moving through at a normal pace. No major issues here. Traffic in the east bay is getting more crowded. Happening today. President trump flies to kenosha, wisconsin, where there have been protests and violence since the Police Shooting of jacob blake. Sara z ....