energy all higher. momentum stocks are also surging. the hot run for ipos continues today. petco only up 65%. posh mark more than doubling, affirm up again. 59 minz minutes left of trade. looking like we are going for two record closes still just about off the highs as you said. we have a big lineup coming up later in the show we will speak with former cdc director dr. tom frieden about the encouraging vaccine data from j&j and what he thinks about the idea of an immunity passport in america and aphria jumping on the bask earnings ceo irwin simon will join us and later we will be joined by former xerox ceo ursula burns with her thoughts on the unrest in washington and how businesses should react first to the big stories we are watching mike santoli is tracking the market action. ylan mui has details on whether the covid relief pack can get through congress. mike, the market is flat. muted reaction in the big cap indexes right now. the s&p 500 operated below last friday
house. and banks ahead of a slew of earnings reports today jp morgan and citi tomorrow before the open. 59 minutes left in the session sara and we are higher across the board. the banks stocks up close to 3% for some of them 3% up for the nasdaq. best day for the nasdaq since april. coming up, the ceo of ho logic plus we will speak with the council on foreign relations richard haas about how the handling of the pandemic in the united states is being viewed by the rest of the world and how it influences geopolitics first an update on the stories we are watching. mike mike tracking the market action, ylan moi with the latest on the stimulus negotiations and more on the coronavirus treatments mike, what is driving this rally? good question is it possible to have a low volume buying panic? that s a little bit what it feels like today certainly the nasdaq doing most of the work. the big cap tech stocks. look how it aektsds affects the 17ds it looks like an acceleration highe
coronavirus vaccines produced neutralizing antibodies in all 45 trial patients. one analyst just gave it the highest price target on the street he will join us. power lunch starts right now welcome, everybody great to be with you the federal reserve has released its beige book for a closer look at the economic recovery we ll have more on that as we dig through the headlines. we want to get it to you fast, we want to get it to you right we want to go to bob for a check on the markets hello there, tyler. we are sort of right in the middle of our 40-point trading range in the s&p 500 we ve been stalling out at the 32, 33 level that s where we started the year that s where the june recent highs were we re having trouble getting over that. the s&p this week, about a 100-point range. the good news, optimism on vaccine. the bad news is the reopening/reclosing story is murky, causing a lot of stocks momentum apple up tech down today. travel stocks, you see the optimism on the v
markets. they re striing to close out a stellar month in green we are looking like that ham, but u off the session highs. the dow was up now up about oh, about a fifth of a percent it s the ipo of the day. more on that one coming up 40%. shares of consolation brands we have an exclusive with the ceo straight ahead thanks. we begin this hour with a trade war. president trump getting ready for a face fo face meeting with president xi in a few hours. kayla is live at the g-20 summit in o saka, japan, with the latest kayla. kelly, that 90-minute meeting is taking place 209 days after these two leaders last met at the summit in argentina and white house officials are exp t expecting a similar outcome. a cease fire of sorts. although aqui knowledged the situation is trickier. china has walked back some principles that had been ironed out and the white house has introduced some of its own hard line policies in the meantime. so that makes the situation tricky, but none the less
in the u.s. business community. that is that any enforcement of a deal would be two ways, and that means the chinese could choose to impose tariffs on the u.s.. at the same time we are seeing signs of donald trump trying to manage the politics and asking the chinese to shift their tariffs on u.s. agricultural products to other products. that is a move by the president to try to protect farmers who have been big supporters of his. david: there s also news coming out of your. let s turn to michael mckee. wehael: we have mario have mario draghi weighing in on the independence of the fed. michael: donald trump is trying to manage a lot of things. the president tweeting the stock market would be higher and the economy would be stronger, growth over 4%, if the fed had done their job correctly. we presume he means if they had not raised interest rates. the president tweets have drawn a lot of reaction from central bankers, not just in the u.s. but around the world. saturday said i