Moderna says its vaccine is nearly 95 effective moderna up 9 , 10 right now while the other vaccine stocks are actually dipping we are awaiting president elect bide wren to give remarks about state of the economy after meeting with top Business Leaders and ceos today well get you there when it happens as power lunch starts right now. Thank you, ty. The dow was soaring to alltime highs, just shy of 30,000 today. All signs pointing to a continued rally except for one, a very important one lets go to bob pisani for more on that. Bob . We are seeing that moderna is helping the market overall and continuing a trend that we saw for the last really week and a half lets take a look at the sectors here the story is valuelike banks and Energy Stocks has been outperforming growth areas Like Technology for example nen weve seen cyclical sectors like industrials, for example. Generally outperforming defensive sectors like consumer staples. Generally small caps have been outperforming big caps in is
Strong data on housing and jobs along with big beat for chicago pmi. Late breaking headlines regarding modernas vaccine. Off session highs but off the lows as we speak still wog up on the show. Coming up San Francisco fed president mary daly to talk about economic recovery, stimulus and jobs picture in america. Plus we will get a read on the consumer when we talk to the ceo of General Mills his first interview since reporting earnings last week. Cocacola entering Hard Seltzer Market with help from molson coors well talk to the ceo of molson coors exclusively about this partnership and more lets get to the big stories 59 minutes of trade. Mike santoli tracking Market Action as stocks look to close out september with a bang. Meg tirrell with headlines around moderna and leslie with the latest on palantirs review. The market, whats driving it . Sara, a lot of things blowing around in the market, quarter end, reaction to the debate, pretty good economic numbers but also in the context of a
Have created a more cautious consumer billionaire tilman will tell us what that means for his business power lunch starts rite now. Wall street starting to trade like a tech stock hitting a record as it gets set to launch its competitor and gears up for a deal to by tiktok zoom up after 40 . Invest rs continue to pile into these momentum names more on the markets and high its hard out there, send it over to bob. Yesterday he sort of threw in the town he said theres no precedent to how high valuations can go with low rates and unlimited q e. John also wu drew his price target these are veterans having a hard time to figure out how to put unlimbed fed support recessions would happen when the fed withdrew the support what does it mean . One of the thing s the bare arguments dont have much traction now the fed will keep stimulating and the Global Economy is slowly pivoting higher and the earnings are too conservative this happened in the Second Quarter and they are saying it again. For 202
The yield curve inverts again, the fifth time in the last week but stocks are shrugging it off. Weaker than expected manufacturing data and this season of retail volatility continues sharp moves in the stocks with more earnings movers coming in the next hour. Watching signals of the Federal Reserve. Philadelphia fed president harker throwing some cold water on any imminent rate cuts. In december i was not supportive of the increase i was supportive of the decrease somewhat reluctantly this time around to get us back to where policy should be were roughly where neutral is i think we are roughly where neutral is right now and i think we should stay here for a while and see how things play out. Well get another view from the Federal Reserve in the next few minutes here on closing bell. Coming up, an interview with dallas fed president Robert Kaplan with steve live from jackson hole joining us for the entire final hour, is mark leeman mark, it does feel like theres a little more optimism o
Right now. Lets get it started lets get it started in here good monday morning and welcome to Worldwide Exchange im dominic chu in for Brian Sullivan today here is how your money and the Global Markets are setting their day up, at least to start. Stock futures indicating the dow will open by about 215 points. The s p up by 23 and the nasdaq up by 61 points as well. The bond market right now is already in focus because yields are creeping higher. The yield on the tenyear treasury note right now currently just around 1. 61 . The twoyear note yield 1. 53 . So for those keeping score, that eight basis point spread between the two getting wider after an inversion that briefly happened over the course of the last couple weeks lets go worldwide now in asian trading, Central Banks in china unveiled an Interest Rate reform aimed at helping Lower Borrowing cost for chinesebased companies. That in turn helped send the entire market in asia higher the shanghai composite up by over 2 . The hang son