Are miles apart. We are focused on that potential record close on the s p 500. The number youre watching for is 3386. 15, a couple points off of it as we stand, sara. Hard to believe that we are here coming up on todays show. S p 500 could close at a record high for the First Time Since mid february were going to talk to wharton professor Jeremy Siegel about whether the rally can last from here. Plus counting down to a pair of key Earnings Results after the bell, lyft and cisco gearing up to report well bring numbers and analysis as soon as they hit. Lets focus on the stories were watching with one hour left of trade. Mark santoli with the action, colin rush from oppenheimer. Lets start off with the broader market, familiar things taking us higher, tech, lower treasury yields and the like. Thats right. A bit of a reform to norm. Yesterday 3381 of about the late selloff. Of course were a couple points above that right now its kind of tantalizing also seems a little bit silly this hesita
Welcome everybody. Our breaking News Coverage of the market continues now welcome once again to my kitchen. Big rally to end the week on wall street. The dow up about 400 points right now on reports that coronavirus patients are responding positively to a gilead drug. Its tale of two dow stocks today. Boeing surging as it gets ready to resume airplane production in Washington State apple is sinking as Goldman Sachs says the stock could fall as much as 20 on lesser iphone sales. Crude getting crushed. Just how low can oil go . What happened with all those production cuts. Kelly. Welcome. Over to you. Thanks so much. We have full Team Coverage we have a rally, kelly. Its getting harder to push it forward. Were now pushing up against the 50day moving average for the s p 500. Sectors that are most beaten up this week are doing well we highlighted this all day. Finally small caps out performing banks out performing home builders, industrials oil down as much today even the energy stock is r
The early trade after posting massive losses what the ceo is telling cnbc. And caught in a glass case of emotion a surprise mystery guest making the rounds all over late tv last night. Its trending on this august 9th as Worldwide Exchange begins right now. Good morning, good afternoon, good evening and welcome from wherever in the world you may be watching. Maybe at 2 00 in the morning in san diego, founded in 1909 by the germans. Any way, it could be the chart of the day whipsaw action in shares of uber after what could be described as a disappointing quarter. Ubers 2 2. 5 billion Second Quarter loss was larger than the total losses last year, all year for all but three companies in the s p 500. Only ge, kraft heinz and Newell Brands lost more money last year than uber lost in the Second Quarter. That stock being punished. Not as down as it was, but down 7. 5 right now to under 40 per share. Well have much more on uber coming up. A developing and important story. Thousands of proteste
Difficulty of hitting it. They need to hit it if you are tesla or apple. Lets begin with apple. This from counterpoint research. Iphone sales in china following 24 . Lisa how much it this weakness in china and how much is this the nationalism around huawei and going away from apple phones . These are the Big Questions from apple and tesla. How much is this is endemic of an economy that is slowing. Jonathan lets go through these numbers from tesla. Tesla had a difficult session. The numbers from the china Passenger Car association, shipments out of the shanghai factory down 6 month on month and year down 19 . Lisa this is the reason you are seeing shares down 2 . Tesla is down more than 50 from its peak in 2021. This is very much a china story about demand for u. S. Auto manufacturers. It is hard for them to hit the price point. It is also about the idea u. S. And china are moving farther apart. He saw this with amd and regular issues that would get in the way of commerce. Jonathan tesl
Break a fiveweek win streak one name that is moving higher, though, is nvidia, up again in the premarket after adding more than 200 billion in valuation following that big earnings beat elon musk reversing his stance on chinese ev tariffs, now saying he opposes the u. S. Moves on those autos lets begin with the markets after the selloff yesterday, jim. Lot of things you could point to pmis some concerns about commercial real estate. Well, im glad you point out the second one, because whats happened is that weve got this feeling that the reason why the commercial real estate is worrisome is because theyre not cutting. Its kind of a chicken and egg thing. Yesterday was jarring. Here we go again durables, a little too strong. If i were jensen huang, i would say, darn it, i would have been up a hundred notthat he eve looks. Hes a pretty confident fellow but that stock would have been really huge and carried a lot of other stocks, but because the bonds Interest Rates went up so much, everyt