But the equity markets are open. We are up by 1. 2 . Earnings season getting up tomorrow with j. P. Morgan, but stimulus talks are not going anywhere. The german tenyear yield, yields are going lower. We are also seeing some pressure caught in periphery. We are getting awful close to a has 100 spread that basis points on it, and that is certainly something we are watching very carefully. We note the comments from mr. Lane over the weekend. The other thing we are noting as well is what is happening with chinese currency. The pboc over the weekend basically putting two way risk back into that currency pair. The question is, will that be marketto stabilize this and keep the pboc happy, or is further action ultimately going to be required . Kailey joining us now is mark mccormick, Td Securities global head of fx strategy. Lets talk about the u. K. First. More restrictions to stop the spread of the virus there. The market doesnt really seem to blink at any of these new additional restrictio
Earnings walmart going on a hiring spree. Home buyers are rushing for mortgages. Is the consumer stronger than you think . Power lunch starts now and welcome to power lunch, im Frank Holland in for Tyler Mathisen nike hitting an alltime high soaring 9 on a blowout Earnings Report Johnson Johnson also higher on its vaccine progress for more on whats driving the action, lets get over to bob pisani hey, bob frank, we are sitting at the lows for the day, 3,280 on the s p, about where we ended on friday and the problem is this seesaw in the megacaps and workfromhome names take a look at megacap, this is a down day yesterday was an up day. Monday was generally a down day. You get the idea hard time figuring out what the right values or prices this high same with the workfromhome stocks theres a theory out there that these will be beneficiaries of worsening coronavirus cases in the United States, maybe, but theyre starting to split. Theyre not always up on the stays when some start moving on
Usmca and the future of european trade from the inside, we are going to talk all about the trade policy with Robert Lighthizer coming up this morning, dont miss this exclusive interview coming up, mornings with maria begins right now. Maria big show this morning, Divine Capital ceo and founder danielle hughes, fox news Dagen Mcdowell and nfl player jack brewerrer. Dagen great to see you, get to it, we have so much to talk about. Maria this has implications beyond boeing, suspending production after two deadly crashes involving that jet, aircraft has been grounded globally since march, the company saying this in a statement, we believe its least disruptive and supply chain health, we will continue to assess our proprogress to return to Service Milestones and make determinations about resuming production and deliveries accordingly, boeing has said that the announcement will not affect employees and will not see any layoffs happening; thats the good news, they wanted to have this plane ba
And lately its proving which. Were talking about technology ocks. Thesi nasdaq com dominated by tech closed at yet another record high today, now on track for the best year in a decade as a matter of fact. Theector as reflected by in etf is up more than 40 so fa this year. And its been helped by a 50 gain in sem conductor stocks and a doubledigit rise it in social media shares. As it happenings the nasdaq was the only of three major indexes to finish higher. Lthe dow f 102 points. Back below 28,000. The s p fell by 1 point. Bob pisani looks closer at techs big run. The markets clearly overbaulgt butot much worry not yet. The major averages chewing in which and eit highsry day. The s p up 10 off 3 trading day this is month. The marketic tecns dont seem crn the market is getting too far ahead of its. There is the fear offis ming out calling it f. Omo. He is that is forefactor the s Technology Store the big leaders in particular. The top ten having big gains above the s p 500. Look. The s
You told me things were very frothy a lots happened since then. The wework had just come out. We know what happened with the wework blowup theres been this sense that you saw with the wag news. Theres been these companies have raised an extraordinary amount of money and pitching themselves as Tech Companies that really went Tech Companies. Wework was not a Technology Company. Swag not really a Technology Company, and the combination of trying to get the technology valuations on companies that shouldnt be trading that way and companies that are just raising too much money and have no financial discipline. Hopefully some of that is coming to an end but i still think valuations are going to be crazy for a while. I think, if anything, this signals the beginning of the end of these shoot the moon sort of Business Plans what i mean by that is we just they dont work for two reasons. One, companies are raising a tremendous amount of money and they do that primarily to try and have some sort of