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Good afternoon. Welcome once again to power lunch. Im john for tte, energy up 13 this week and financials also down about 2 . Its the regional banks seeing the most pain, first republic, pnc, truest financial leading that sector lower. And Airline Stocks all lower as we get a clearer picture of what Holiday Travel will look like in this persistent pandemic first, lets get to bob pisani for more on the Market Action today. Bob. Hello, john what happened to our value rally . Banks and things like that moving to the up side, Energy Stocks it got smacked by Covid Concerns and by the lack of stimulus. Thats a problem what do we do . Hey, lets go back and buy workfromhome stocks again. The docusigns, zoom videos, activ ....
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 well 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 40point trading range in the s p 500 weve been stalling out at the 32, 33 level thats where we started the year thats where the june recent highs were were having trouble getting over that. The s p this week, about a 100point 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 sto ....
Kelly. The dow shedding 5 in lets get to bob for more on this sell off. Bob. I think the key here today is oils impact but its impacting things outside the oil market. Leets ta lets take a look at the sectors. The two biggest that are out there, tech and financials are the weakst ones. They will put pressure on the s p 500 because they are a big part of the overall market capitalization industrial is also weak. Energy is not among the big pressure points in the s p 500 today. I want to poipt out some of these big momentum names that have helped in the tech area in the last few days. Generally, weak today. Advance micro, starbucks these are momentum names that have done well recently and they are having problems today. The futures contract highly showed you that. Its remarkable to look at an 8 future track as 18. Thats an enormous spread were looking at here. Some of these Tanker Companies have having a tremendous day to the up s ....
Dominating the weekend and it could be just the beginning of disneys total takeover. Power lunch starts right now and welcome to power lunch. Im melissa lee. The nasdaq, the big winner today with tech stocks taking the lead as chip stocks rip higher, and check out the dow downers today. Boeing falling after fitch cutting its outlook for the giant to negative. Pointing to the uncertainty around the 737 max grounding and Johnson Johnson taking a hit about 1. 5 as the Company Fights thousands of claims around its baby powder well have much more on that story much later on. Kelly. Thanks. The fed is entering its blackout period ahead of the july meeting next week, so there will be no more fed speak before that decision but its not stopping the president from weighing in he tweeted earlier today in favor of a rate cut, saying the fed raised rates far too much and too fast it appe ....
Tonight. See if you recognize their names. Weve got the top Economic Issues that will be front and center and Dale Earnhardt jr. Joins us live power lunch starts right now. Stocks are up, after the session highs. The dow up 112 points earlier. Intel, apple, boeing fueling the gains now. There were reports that boeing is in talks to reimburse airlines after that 737 max grounding. Those planes still on the ground, kelly. Thanks. We are just a couple days away from the end of the second quarter. The s p racking up gains, but the gains are getting narrower and narrower bob pisani is on the floor at the nyse bob . The s p is up about 3 this quarter, but its been a super big cap rally. So just take a look. The s p, again, up 3 . The big caps only up. 4 small caps, look at this down for the quarter thats what i mean big cap rally. But the biggest of the big ones are the ones reall ....