Todays winners. Take a look at some of the big names in biotech, staging a comeback. Biogen, among others, leading the nasdaq 100 higher and speaking of health care, you got to take a look at Intuitive Surgical. Intuitive surgical shares, the best performing stock on the nasdaq 100 after its preliminary Fourth Quarter revenue beat street estimates. Then switch over to tech, because tech is the best performing s p sector providing market leadership. Google, expedia, apple, yahoo broadbased gains in tech. Tech is a sector favored to move higher in a rising rate environment. Lastly, social media, those stocks have had a couple volatile days. We are seeing facebook, twitter among others posting gains. Sue . Thank you very much, seema. The trading action here, we are just off the highs of the trading session but the big event in todays trading session is two hawks on the fed are making comments. Richard fisher will make comments shortly but mr. Plosser has made some comments and is talking
York stock exchange. Were going to start with the markets, ty. The nasdaq has had a great performance so far. We put that at the top of the board right now up 0. 6 of a . The dow is negative by about five points. The s p is up a quarter of a , the transports up about 50 points, and the russell to 00 up two thirds of a percent as well not a bad start for the week. There wasnt a lot of positive catalyst. Sometimes just we didnt have any negative catalyst. Thats enough just to move the market. I think we had some selling out of europe. We deli see that spike up . That was the european close. As europe closed, the market spiked up. Whats important here is the small cap, the russell 200, put up the board, the russell 2000 is leading. Look here, over the s p 500, that hasnt been story for a long time, and more importantly, sue, the right things are leading, internet content names, for example, so your zillows, pandoras, yelps, linkedin. Those are leading. Biotech, not only is biotech up. Its
York stock exchange. Hi, sue. Hi, ty. Were going to start with jobs in america on the eve of the jobs report. Jobless claims up 14,000 last week to a seasonally adjusted 344,000, higher than expected. The challenger report said job cut announcements were up 17 in april. But then the institute for supply managements Employment Index rose. So bob pisani is joining me right here on the floor of the new york stock exchange. Were near alltime highs on the Dow Jones Industrial average, just about to turn positive again. First, though, to senior economics reporter Steve Liesman on the jobs. Stevie, over to you. Hey, sue, thanks. Most economists out there are pretty optimistic about the friday jobs report. Well get to the forecast in just a second. Want to sew you that ism april manufacturing component that you just talked about. You can see that little winter swoon and popping back up in april. Not back to the best levels of later last year, but certainly ticking up at a good sign for manufac
Nyse. Hi, simon. Hey, sue. Its the economy. We start with the data, the final present on First Quarter gdp is in and its not good, the u. S. Economy shrinking at an allual rate of 2. 9 between january and march. Thats the worst for five years. Durable good numbers dropping like a refrigerator, down 1 in may. Most of that drop in fairness is being blamed on lower demand for military equipment. Cnbc. Coms jeff cox is here. We call him sometimes our black swan. He sees danger ahead. Jeff, youre saying basically people should forget the vix, which is obviously very low. Theres a more sophisticated way of seeing the market. This predicts event that goes beyond what we talk about in the vix. It makes sense to buy protection against unusual things. What might those things be . I think there are three concerns that could go beyond the norm. I think gdp is number one. We saw that number, most economists think that was an outlier. Its not going to be repeated. I had an interesting quote from eth
It means you stay with where youre at and buy risk assets. French wine, joe. Italian parm. All the good things. Cheaper for us if this works. Its 1. 35, give me 1. 29 and were calling the travel agent. Your car is made overseas . Yeah. Going to ask me if it runs on diesel like andrew. I wasnt going to ask you. Im about relative price if it goes down. Its harkening back to a previous. 129 and were getting the travel agent and taking squawk. Where are we going, joe . 130 is the you know what i think, andrew, you make the call, you know him, probably have his number, lets go game of throwns to bravnick. Call up ben. Game of thrones tour you can take. I bet there is. I dont think those people are actually there, though. You want to sit on the iron throne, dont you, joe . One thing i promised i would never discuss on squawk was me sitting on the throne. You violated that in the past. I think i have, yeah. Is there anything andrew, come back. I will. Im going to go to napa and bring back som