The u. S. Cases approaching seven million. A new round of stimulus remains a major question mark in washington weve got 59 minutes left of trade for this week. Were up 2 for the nasdaq its been a roller coaster of a day. Coming up, well ask the billionaire investor where he is finding opportunities amid the renewed volatility on wall street well get his thoughts on the red hot ipo market and, of course, the spac craze the plus, former National Security adviser mcmaster will join us to discuss the latest news on tiktok and simmering tech cold war with china well talk about the many battlegrounds for the United States and to mcmasters new book which is out this week. Lets get straight to the big stories. Mike santoli is tracking all of the market action. Julia has new developments in the tiktok saga. Josh lipton is covering more on the facebook fight mike, start us off on the Broader Market thank you very much we have a little bit of follow on rally here in the afternoon we have a little
Today. Retailers helped lift investor sentiment. Yes, retail. That same sector thats been struggling to keep up with fastchanging consumer behavior. Four of the five best performing stocks in the s p 500 today were retailers. Then theres the bd market. The yield curve inverted for the second time in a week. Late today t t yield on tenyear treasury bond dipped below the twoyear yield. That also forecasts a recession, and thats when it happened last week the dow fell by800 points, but not today. This time stocks held on to their gains. Fact, the dow was up more than 240 points. It closed at 26,202. The nasdaq was up 71 and the s p added 23. Ail so lets start with r and targets surprise quarter. The big box retailer blew past every wall street estimate focast thrown at it, and thats not something that you hear very often when it cometo retail, which has seen a number of Traditional Stores struggle to figure out whatsu crs want. Target soared 20 , its best n oneday g ever. Its market cap i
Coming up after the bell, netflix and tesla. Netflix is going to reveal quarterly numbers, and ahead of it, it is trading down. We just hit session lows for netflix, pop down to the bottom, the stock stands at 345 and change, down 2. 7 . For the month necessary flint has netflix has not been pretty, down about 12. 5. Quickly checking on tesla, down 4. 8 ahead of earnings there. But keep in mind both are expected to report numbs that are higher numbers that are higher yearoveryear. All right, were looking at definitive riskoff sentiment as we kick off the final hour of trade. The bulls are many retreat at the moment. Weve got the Dow Jones Industrials down 257 points, s p losing 50, the nasdaq down 194 points or 1. 5 . But just as tocks wither, brent crude this is the International Oil bench of mark gushing above 91 a barrel as the israelhamas war reaches a new boiling point. Just 24 hours after a missile hit a hospital in gaza killing hundreds, both the u. S. And Israeli Intelligence a
Better sales, higher profits from our Great American companies are why this market sometimes feels like you can buck anything. Dow gaining and nasdaq advancing 6. 9 to a new all time high even as the price of oil plummeted and the president s tax plan seems like it could be a real stretch to get through congress. First let me reiterate what i said all along about the markets doing really well. Not about trump or the tax cuts or the fed or the overall economy. Im not saying washington is a sideshow, not when its all over the front pages every day. Its certainly not the main event when it comes to stocks. After listening to all the president s men talking about their one page plan to reform the tax code yesterday i was a tiny bit hopeful something could get done even as im generally skeptical of congresss ability to accomplish anything. Then if you listen to the incredible squawkbox show at capitol hill my tiny bit of hope vanished. Listening to the democrats and republicans, thinking th
Tales. They barely come true but yesterday they looked like they could become reality. Nasdaq advancing. 42 . Yet today the market embraced the quarterly reports from cocacola, mcdonalds and yum as legitimate turn arounds. Two others are being reevaluated on the fly and could be considered works in progress despite what some might view as dismal disappointing numbers. Emphasis on some because many believe theres a pulse in both where they would have been down substantially. All five are tales of hope that could lead to big gains if theres real follow through. Lets start with the concept of the turn around and why theyre so difficult and so monumental if they work. The pay off could be huge and failure rates extraordinary as very few are able to pull them off. Wall street is littered with sales turn arounds, resurrections that didnt occur. I cant count the Companies Falling by the wayside. Mainframe companies driven out of bisby mini computers. Personal computers obliterated by handsets