The most groundbreaking treatment for covid19. The maker of new antibody technologies. More than one Million People now dead from the disease worldwide. Welcome to bloomberg technology. Markets rallying today, tech again leading. Joining us now, abigail doolittle. We were talking about a rally at the end of last week. Is that now going to extend through this week . Abigail it certainly did today. It was not just tech. Rallyeadth of todays possibly more impressive than the size. The nasdaq over this time, the best three days since april. That is the degree of the buying power. Really helping out the nasdaq. Again, very solid again. It was driven last week by apple, which put up its first up week since august, claiming back above the 50 day moving average. The fundamentals not changing so much. Perhaps more technical selling after some technical buying in august. I was mentioning the breadth. Very well. Apple up 2. 4 . Tesla continuing its rebound. Disappointment for another day, up 3. 4
He shanghai composite up asx 200 picking up where it left off on wednesday. That was shrugging off the dreadful gdp numbers. Looking at the foreign exchanges, dollar weakness is being snapped, the dollar coming back against a popular currency. The bloomberg dollar index is moving higher. Seeing more yuan strength, the yen weakness has been pronounced and the euro is in the crosshairs of where currency traders are. There we go. Joining us now, trade j. P. Morgan Asset Management global strategist marcelo chow. Give us an idea where we are with the rally. It is looking toppy at the moment, but i have been saying that for a while. Good morning and thank you for having me back here. Index has record high been phenomenal so far. I think this reflects and factors expectations for 2021 andto recovery in 2022. As you mentioned, the recovery so far has been quite uneven. The Technology Sector is responsible for a significant share of the rebound. It seemed like there has been some good news val
The chicago fed president australia heads into earnings season amid the worst recession in decades and a pandemic crippling the economy promises to be one of the most challenging periods on record. Shery u. S. Futures opening flat. This after they finish mixed on the friday session. We had u. S. Stocks falling with the s p 500 flat after five sessions of gains. We have escalating u. S. China tensions. Some positive data. We have the dollar inventing after u. S. July job dated beat estimates. The nasa composite was led lower. Composite was led lower. We had small caps leading the gains on those better than expected econumbers out of the u. S. Here is how oil is trading. We are seeing oil gaining ground above 41 a barrel with brent coming in around 44 a barrel. This after the biggest loss in a week. Not only u. S. And china tensions but the outlook for the u. S. Stimulus. They saw the biggest advance since early july. See some are going to of those uncertainties, the lack of a deadline w
Continue to gradually reopen, auto plants are restarting some operations this morning and Homebuilder Confidence increasing as well ahead on todays show, President Trump host iing a rou b table with restaurant executives at t the white house this afternoon well speak with the ceo of restaurant brand, the Parent Company of burger king and pop eyes. Plus, billionaire entrepreneur and Restaurant Owner will join us to discuss whether people will actually come back to restaurants, casinos an sporting events hes got all three of those covered. Hooe also at that white house meeting. Lets focus in on the big stori were watching mike is tracking the big market rally. Meg has the latest on modernas vaccine progress Brian Sullivan watching the comeback for crude well tart off with the broaderr rally, mike, and what stands out to you obviously the market for months has been moving along this spectrum that goes from you know sooner and faster for a recovery to you know later and slower and right no
Ten states are beginning to work on plans to open parts of their economy. Maybe in may, the fed launches a commercial paper funding fa s t facili facility there is an argument that calls for stocks to retest are fading. I thought yesterday was an important day with the dave kostin change. I did a lot of work, help with larry williams, about how many times when you have a 50 retracement or more, we have a retest the answer is almost never i think theres a lot of people coming on someone came on the air this morning and said in every single case you have to have a retest. Thats completely untrue if you bounced up 50 beginning last friday thats what we did. A lot of people say this thing is based on large cap companies. Thats what we do. Were not trading luncheonettes here thats not to the detriment of luncheonettes. Were not trading hair salons. Thats not the way it works. We trade Large Capitalization Companies that do better than smaller ones in this environment. Thats life. Is it fair