U. S. The global focus. Ines surged cases surged california and texas. Walmart demands customers wear masks. Knowing green. New south wales has a new plan for renewable power, energy and the environment. Quick check of the markets, u. S. Futures opening flat. This after u. S. Stocks climbed to a fiveweek high in the regular session. We have 10 of 11 s p 500 sectors closing up. He had vaccine developments bringing this rush of optimism to financial markets. This, despite escalating tensions between china and the u. S. Moderna and astrazeneca are rising on the optimism. More positive ecodata, u. S. Industrial output rebounding in june. Pickup in Economic Activity. Take a look at what oil is doing. Under a little pressure, headed towards the 40 per barrel level. This after jumping to a four month high. We had strong ecodata and we have President Trump indicating he doesnt want to add more sanctions against chinese officials for now, not to mention a report on a drop on u. S. Crude stockpi
Worst day in a couple weeks. The nasdaq snapping an eightday winning streak if we close where we are today bob pisani now has more on the markets. Bob . Very tricky moment here, tyler, right near the 200day moving average technology has the leader whats the problem theres a number of issues the coronavirus story is the most important its not going well. We have infection just outbreaks, some threats from Governor Cuomo to close things down, tariff tensions are still out there. That moved the markets prior to the open valuations are still high. Energy stocks up and then down same with the banks here 12 to 16 honeywell, and then all way back down again. See how similar the stocks are, the inverted vs, and now theyre breaking down a bit more mcdorchlds 180 to 200 theres that v we have to figure out a way back to you theres the dow now, the tristate area closing off borders from visitors out of state. With no plans there to halt reopening. Meg tirrell has the latest details for us meg . Hi
Bloomberg. Why two different stocks could start the burn power lunch starts right now thanks and welcome to power lunch, everyone stocks are retreating from their record highs were off the lows of the session today, but the dow still down about 200 points and the nasdaq getting hit the hardest down 1 today as some of the big e trades are getting dumped. Including the likes of Virgin Galactic and take a look at the tenyear yield sinking near the lows of the session and briefly touching lows of the year at 1. 257 for more, we go to bob pisani an the New York Stock Exchange. Bob. I think you had a good point there, kelly momentum is the issue. I want to show you the s p 500 we had a very short but shr sharp sell off right here. S p future, big volume in the emini futures. That tells you somebodys lightening up on their positions. Its the big momentum really associated with growth names you have Virgin Galactic, but look at the midday drop. Qi earnings have been low and we dont have a lot
Boeing and a new millennial nightmare out in kra california but we begin first with todays markets and bob pisani is track ing that record breaking action at the New York Stock Exchange and nasdaq getting a lot of love today thats because of big five are leading the way. All five of the biggest stocks apple, microsoft, amazon, facebook, when they move, everything moves nasdaq 100 leaders this year, guess what the same companies apple, facebook, microsoft, alphabet and amazon. Five company, nearly 40 elsewhere, bank stocks, big story for the year higher yields, loan improvement. New highs for many including many of the regional banks not today, but in the few week, theyve been up there as well. I know the nasdaq composite gets a lot of love. The nyse composite, which is down here, a compilation of all the stocks that trade down here, also at an historic high today just pointing that out, brian. Back to you. So bob, i got a question for you here if you are talking about the nasdaq at 9,0
Welcome to power lunch, im melissa lee. Were ins ground zero, Texas Instruments falling after its Earnings Report taking down the rest of this group much more on these moves a little later on in the show. Kelly . Mark zuckerberg testifying in front of Congress Today and taking heat on several big issues reporter this has been a tough hearing for Mark Zuckerberg, theres been a lot of anger and exasperation among lawmakers. On Election Security and political speech, red lining and diversity. Facebook changes the rules when 2 convinces itself have you learned that you should not lie. Facebook has been systemically found at the scene of the crime the richest man in the world to come here and hide behind the poorest people in the world and say thats who youre really trying to help youre trying to help those for whom the dollar is not a good currency drug dealers, terrorists, tax evaders. Now, even republicans who have cautioned against the broader back lash against big tech still had some v