Weekly gain. Virus figures, coronavirus cases surging again, wall street still headed for strong gains for the week, s p and dow up more than 1 the past five sessions. The company beat on earnings, suspended its 2020 forecast on coronavirus uncertainty, and as well were going to be talking with the ceo of roku later this morning which also reported numbers. And jedi blocked, a federal judge haunting microsofts pentagon cloud contract after an amazon suit. For the second straight day the number of confirmed cases of coronavirus shot higher. Chinese authorities reported 5,000 new cases and 120 more deaths the death toll stands at nearly 1,400 and total cases into the range of 64,000. As increasingly guys, the conversations turning to diagnostics as opposed to the spread itself. Right there have been a number of articles that are very subjective about whats happened some of them say that, look, it could be a 24day incubation, so what they thought they were letting people go and some of it
Former dallas fed president Richard Fisher is with us live and we are hours from a key report from netflix. Which way is this stock going to move the Investment Committee is ready to go. The Halftime Report starts right now. A lot of good questions there. Of course, its good to have you with us on this wednesday. We have a very good Investment Committee as usual for you jim leventhal, steve weis, jonny in najarian. Not for investors, not for today. Csx shares derailed. Investors suffering their worst day in more than a decade. A lot to unpack here lets get to frank who has been following the story since last night. You were just talking about economic indicators. The economy is strong. Retail sales strong. Unemployment at record lows. Inflation not a worry. But their new fears of a freight recession. Now csx, lowering guidance from 1 to 2 growth to a 1 to 2 decline, largely due to weaker demand for domestic and export coal and the everpresent trade tensions first half volumes fell 4 ce
Giant as oil jumps today is this beaten down sector finally about to move up the Investment Committee is ready to go. The Halftime Report with scott wapner begins right now. Welcome our Investment Committee today, joe terranova, steve weis, john and Pete Najarian. Lets begin with the markets and that semi surge. The chips on pace to close above a key level. Their 50day moving average for the First Time Since early may still a long way to go to get back to the highs but, pete, if this is legit, it could be extremely positive for the overall market it sure could people were leaning on this. This is exactly why this particular name moving everybody else, micron, thats why it was beaten down as much as it was. You look at yearoveryear numbers, this is abysmal but they priced in the fact they werent looking year over year but for this quarter can they beat, and they did. They beat on earnings and on revenue by a little bit, not a lot. And you look at the company. We all talk about valuation
Well talk to one player in residential any commercial res and ask if hes feeling the same sense of optimism, but we begin with todays market and dom chu with those numbers. Its a bounceback from the down day that we saw on friday to kind of close out the week and we are green across the board for the major indices. The dow industrials is up 128 points and onethird of 1 and its the underperformer for the value blue chip index and 28,243 and up 38 points and three quartes of 1 gain and to put that in context at the highs of the session we were down 58 points up 37 at the lows. So again, a very positive session, but tilting toward the lower end of the trading range so far today and the nasdaq composite currently at 16,113. Thats up about 140 points or maybe just about threequarters of 1 upside there. Again, greenin technology is leading the way. Jon mentioned some of that apple and alphabet dynamic because of the bloomberg report because of a possible licensing or Partnership Deal and alp
Continue to hide out in stocks . Brian kelly, what do you make of this . Well, whats happened over the last month or actually couple of months here is youve seen a tremendous amount of volatility in the commodity space, in foreign currency and hasnt translated into the u. S. Equity market. I do think ultimately when you see oil going down like this and the intraday reversal today in the dollar to me is notable because that shows theres the big carry trade thats being unwind as commodities come down. Ultimately that will hurt u. S. Stocks. We have seen elevated levels, though, of volatility in the oil markets and the currency markets for quite some time and the markets are still very close to record highs. Granted theyve had their ups and downs but still right now close to record highs. What happened to that theory that eventually that volatility will creep in . Hasnt yet. Not yet. I mean, we had the vix hover around 12 again. Its pretty unbelievable the s p is still at these levels. It