Than 1 as many of the cloud and socalled stayathome stocks get hit. It was the announcement that Pfizers Covid vaccine is more than 90 efficient thats what really set the market on fire we got more on that in a minute. Meantime, lets send it over to kelly. Thank you, sir. It is a huge day for the markets and a potentially historic one in a fight against the Chris Christie we have full Team Coverage for you. Bob pisani looking for the market reaction. Meg tirelli and bob pisani, lets start with you historic move for the s p 500 and big volume were going to do twice normal volume on the markets. We havent seen that recently, big volume on big up days. Thats a change on market sentiment. You mentioned small caps obviously vaccine, better reopening story. That would help small caps, look at this up almost 7 more than twice the performance of the s p 500 mega cap out of big cap, mega cap tech stocks and into small cap but also a little bit on the weak side as weve been noting all throughout
Firmly in the red here nasdaq is up 104 . Up 3 this week alone. Only tuesday coming up on todays show kraft is trading higher. Of they outline two billion in cost cuts and selling off part of the cheese business not all of the cheese business and some confusion as to which cheeses go and which stay. Well find out why the companys president about those moves will join us to discuss whether lack of fresh stimulus can impact and speaking of stimulus, former treasury secretary jack lew will join us and his article calling for more than 2 trillion in government spending. We begin with breaking news on apple. It is much anticipated event unveiling a new number of products we have the latest josh so a lot of news in that 60 minutes of apples show today. Start with the new hardware. That new ipad air. It is going to start at 599 available next month 10. 9 inch display with a huge boost in performance we know the ipad is a hardware line clearly benefitting from that work from home trend apple w
Today. With the dow jones average skyrocketing 530 points, s p 1. 32, nasdaq 1. 72, one point before more saber rattling with china. All sorts of beaten down stocks, though, were higher. While the covid19 winners, well, they got slammed theres just one tiny problem with this action we dont actually have a vaccine. Does that mean the stock market is getting ahead of itself lets unpack the issue first this rally is based not just on hopes of a vaccine but a firm belief that the whole virus problem isnt nearly as dire as we thought a lot of people feel it has been blown out of proportion by the media, and the president s right, the people feel the president s right when he says we should open up everything betting on a vaccine makes sense. Since the beginning of the pandemic they warned us a vaccine would take a long time the fastest was the mumps which took four years. Every day were bombarded about another attempt to end this nightmare. Today we heard merck is working on a Magic Technol
Futures trading was halted yo ed overnight. If were down 7 , you halt for 15 minutes down 13 , you halt for another 15 minutes if down 20 , you halt the remainder of the day some people wonder how long we will be trading at the open. Yeah. Look, i think the problem is twofold no one thought oil was coming. Theres a very, very different approach by some to whats happening with the virus some people are saying not enough others are saying, listen, were making too much of it. Im in the distinct not enough camp i come back and i keep thinking about david tepper and what he said to me at the super bowl i dont know if we have that i think we do is the booth ready on that going back to midfebruary early february day before the super bowl i came back and have never been the same i know people have accused me of being fear mongering for weeks now. No, i think im realest mongering. Were trying to back into it, you have to try to figure it out. Ruined the environment of the setup right now. Whats
Tech sector higher and the Federal Reserve Decision Just days away with an Interest Rate cut firmly expected by wall street joining uts for ts for the hour lindsey bell perfect day to have you because you are the sort of earnings scorecard keeper things feel a lot better than they were expected going in. Absolutely. This was the busiest week of earnings so far this season. But what was surprising to me is hear from all the companies talking about the outlook. I was expecting them to cut numbers sharply and most reiterated and even raised guidance of course there is a few that cut and took things down because of uncertainty around trade and other things but i thought that it would come from a more Broad Spectrum of companies. The themes that we can take from this week it seems that consumer geared companies doing very well. The great Big Tech Companies that weve been valuing for five years or more proved that that is why that they basically have great businesses what are we going to see