And individual names getting lower. That keeps it pretty much unchanged year to date we have a massive show coming up discuss the latest stimulus negotiations th thats any minute now its the key question for the markets today. And then as the heat gets turned up on big tech, well talk to the always candid ceo about the precious ceos facing testimony tomorrow and the stay at home trend a huge swell of tech earnings coming to day and later this week. Lets start with the broader markets. Mike, over to you. Thank you we have markets on pause for the most part today. Bond market is qui wet yields at the lows stock market, too, is hugging this very familiar area, basically flat on the day. That is an area of attraction. Well see fit lasts for now. It is the defensive factors. The ones that benefit from low yields that are up today, real estate, staples and utilities. Take a look though at a couple of indicators as we wait for the fed decision tomorrow. Whats going on and how quiet the bond m
Before rebounding to finish up almost 5 , recouping half of the losses from mondays 2,000 point selloff. Jim, remember when we couldnt get a 1 move la last 12 sessions, s p moved 3. 5. The market feels broken to me not a lot of liquidity many things happening at night youll see the Interest Rates go down at night. Then suddenly the s p is having a nightly session. We have to play by that tune i get it theres i want to say theres not panic. People want to get out if there were people, you would see endless downing endless down you could say buyers will come in i was listening to jim paulson before, he sees a lot that he would like i dont. You dont no. I like utilities i like the drug companies, i like the highest growth tech, teledoc. The rest sell to you people are buying Royal Caribbean right here as if its like a buying opportunity. A lot of people using the term buying opportunity, b. O. , for things no. No, to b. O. As you might expect, people are focusing on the credit markets and
Year high as the coronavirus layoffs start to show u. And Oil Rebounding crude on track for its biggest oneday gain ever. Absolutely. Its up 26 though still down 17 for the week as a whole. The dow was up 500 points. Now only up 235. Lets focus in on the key stories were watching mike is tracking todays Market Action e meg is covering new developments from the Pharma Industry and kayla has the latest on proposed bailout, but mike, lets kick things off with you. Thanks. Obviously seeing a general pause in the intense selling weve seen perhaps had a wave of that liquidation pass us by and the big old Growth Stocks are leading the way. That hasnt changed through this whole sell off especially sed soed if you look at a one yore chart starting with the nasdaq, 100 the leader, s p 500. The equal weighted verse then the small cap russell 2000 you see that distinct tearing on a oneyear bases in terms of what has worked better if you just focus in on the last month, by the way, one month ago to
Negotiations with china. Mixed Economic Data as Consumer Confidence falls, but Housing Market remains mostly steady and disney rallying on two positive notes, which has helped them propel the dow higher. We are on record high watch once again for the major indices. Joining us for the hour, Barbara Duran from bd8 capital partners. Barbara, how do you feel as we sit at these record highs. Can we hold this momentum through the rest of the year i actually think we can normally, ive been very skeptical. I really thought we would just be in a trading range and unlikely to see new highs. But i think weve got one or two new highs left and its not just optimism over the china trade partially being resolved i think its also, unlike last year where people were rushing for the exits, i think this year, theyre rushing to get in, because youve got the performance issue. The market is up so strongly and i would suspect most active managers are underperforming here barbara is with us for the full firs
Im sara eisen look at whens driving the action higher. A thaw in the trade war again. U. S. And china resuming tariff negotiations in october. Strong Economic Data helping ease some recession fears and the s p moving back above the 50day moving average. Key technical level. Tech stocks are leading the rally. Two big interviews coming up on closing bell. Box Ceo Aaron Levie and with Consumer Staples near alltime highs kimberlyclark ceo michael hsu will join us see both interviews only right here on closing bell. Joining us for the entire final hour of trade is stephanie link. Welcome back, stephanie. Thank you. So are you a buyer on this trade rally . I bought a couple things today. I added to a few positions, nothing new, nothing big, but i think the debate will continue are we going into a recession or seeing Slower Growth i have been saying i think Slower Growth mode and a lot of that because the consumer has been quite strong. I know a lot of people talking about that i spent this w