With a new show on cnbc, highlighting Small Businesses and the people behind them across the country power lunch starts right now welcome to power lunch. Im john fortt take a look at whats driving the Market Health care stocks the biggest laggards while industrials and financials lead the way. Check out the bank names all higher tesla, the big winner. At the highs of the session, helping to turn the nasdaq almost positive, close to break even midday. Morgan stanley final upgrading the stock to a buy after a 500 gain this year lets get to bob pisani for more on these markets bob, you got me . Maybe not. Kelly, do you see what is happening with these markets i mean, were showing the sector snapshot here. Weve got s p retail is higher ahead of a Holiday Season we expect to be really strong for ecommerce and weve seen strong results this week from walmart and target yes, we do. By the way, i want to point out well, i want to point out that the dow turned negative only in the past hour or s
Its competitor, nikola the Airlines Holding up after Morgan Stanleys bullish call on the group. The analyst will join us kelly, first over to you major aver raages are hitting their lowest levels. Bob has a look at the stocks making the biggest move today. Bob, lets start with you. Were in a 40point trading range. Were about to break out on the upside i know this sounds crazy lets look at the sectors and whats moving. Were not getting a lot of help from technology. It rallied early yiier but hasnt been moving as forward were getting nice moves from the industrial and Health Care Stocks these stocks rallied earlier off of their lows. Apple was 119 earlier. Its not moving the market forward here in the middle of the afternoon. Still off of their lows. Same with microsoft, nvidia, lam and some of the work from home stocks they were lower earlier but not rallying dramatically. All of them down wayfair was briefly positive slack has turned positive. The stocks are all off their lows most of
Then walmarts answer to amazon prime, we will give you a breakdown of what is included an whats not and finally, white house chief of staff mark meadows will join us live, we will talk stimulus, covid19 and the unrest across the nation thats happening toward the top of this hour and you will not want to miss that. Carl kayla, david, guys, everybody is taking stock of the journey we have had not just in august for stocks, but for the past five months, the dow best fivemonth gain since 2009, for the s p the best five months since 1938 and as we said at the top, david, we are heading into historically the worst month not just in general, but especially during election years, september and october have averaged negative returns and we will talk to mark meadows about politics which are increasingly going to be part of the picture here yeah, no doubt. I think you heard it with the last guest who appeared on squawk box at the very end of that show. We are entering what conceivably could be a
Stayathome to save the birds of london. That is a good thing to say. It is the strangest august, and the only litmus paper youve got right now is the weaker dollar, the preponderant trend this morning. Francine yeah, weaker dollar. Im also looking at a couple things. When it looks at iron ore, it is significantly up, and we are looking at gold. First lets get straight to the bloomberg first word news in new york city with ritika gupta. Ritika Michelle Obama describes President Trump as unfit for office on the Opening Night of the democratic convention. The former first lady blasted him from his handling the pandemic. Worthen 150,000 people have died, and our more than 150,000 people have died, and our economy is in shambles because of a virus that this president downplayed for too long. Trump isbama said that clearly in over his head. President trump added a trip to iowa to his schedule today. Support has been slipping in a state that he won in nine Percentage Points in 2016. Polls sho
Market thats such a long name that it covered two lines in the tele prompter baseball is back as the mlb kicks off its season and so does Sports Betting well talk to the ceo of fan dual power lunch starts right now rolls right off your tongue thanks opinion as jobless claims rise for the first time in four months, republicans and democrats are pushing to come to an agreement on phase four as Unemployment Benefits are about to expire. Lets get the latest Details Senate gop leadership and the white house say they have reached a fundamental agreement on the next relief package but we still havent seen any of those bills yet and its not clear when we will treasury secretary Stephen Mnuchin was back on capitol hill to continue the negotiations with Senate Majority leader mitch mcconnell. He told cnbc hes made one concession to Senate Republicans and thats abandoning the administrations request for a payroll tax cut. One of the issues i think about the payroll tax cut is people get that mone