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We ta retail sales were lower than expected autos adding to the pain with biggest names if the group or deck for earnings next week, well tell you which stocks could be set to take off later, it is apples epic battle both apple now and google kicking out fortnite out of their app stores well explain why they are doing it the fight it could spark and the crackdown on big tech that could be in the cards. Power lunch starts right now happy friday to you. Check out the transports out performing this week up 4 those moves are thanks to fedex and avis budget up double digits for the week with all the major averages up more than 50 from the march lows, its the question being heard around wall street is the market rebound getting too far ahead of the economic rebound. Were digging into the data. The stock market could recover its all time highs we went back to 1973 and looked at how stocks behaved. It takes 2. 7 years to get even this recovery probably will be measured in months the fed and co ....
The holiday. Lets get this show on the road, power lunch starts right now welcome to power lunch. Im will stocks lower this hour, nasdaq and russell 2,000 did manage to hit record highs before pulling back Oil Pushing Higher in more than two years and check out individual movers as well. Amazon hitting alltime highs today. Under armour reing but the stock on pace for its worse year ever. More than that ahead serna, expected to announce a deal with the company and gamestop rallying posting strong results. Michele . We begin with this hour with ubers hack attack millions all over the world have been affected whats causing outrage however, uber paid money to cover it up joining us now with the latest, deadria . Hey, michele, the names, emails, drivers license numbers of 57 million riders and drivers were exposed uber paid as you said 100,000 in hush money to the hackers and hid the breach for the public and regulators for a year. ....
Stocks are in the red, at least no now do you as much as check out movers, underarmour, soaring, earnings estimate were met blue apron rallying. And wayfair hitting new alltime highs. Climbsing about 6 in that time. All right. For more on the markets, le ate go to the New York Stock Exchange and check in with bob pisani bob . Tyler, 111 points in the dow, used to be big news a few weeks ago, but not anymore were starting to settle down. Im not saying its over yet advancing to declining stocks. The volume, surprising below average from what weve seen in the last few weeks, volatility is moving in a much narrower range. Trying to find some footings sectors, well, the market leaders used to be slightly to the down side. Banking are fractionally positive consumer staples, defensive group has generally been stronger all day here. Finally were following as interesting story from an anonymous whistleblower who has written a lett ....
The impact on the markets. Fed chair jay powell steeping out on cap hill. He signals the fed will keep raising rates. On that note lets go to senior economics reporter Steve Liesman for more highlights. Thanks very much. Yeah, fed chairman Jerome Powell in his first testimony before Congress Says that he doesnt believe this is going to happen, but one of the risks out there is an overheating of the economy. And he opened the door in a very subtle way to a possible fourth rate hike. Saying, you know what, the economy is strong. Weve had fiscal stimulus. His view on the economy strengthening as well. Heres what he said. Weve seen fiscal policy become more stimulative. So, i think each of us is going to be taking the developments between since the december meeting into account and writing down our new rate path as we go into t ....
At 4,994, close to 5,000 obviously. At 1,249 is where you find the russell. Bob pisani is at the New York Stock Exchange. Janet yellen is giving her prepared speech in cleveland. Have we seen any kind of reaction in the stock or bond markets . It didnt have to be because the whole world gapped up at the open. I would say modest reaction but no big surprises in her commentary. Important thing is what happened overnight. Were 51 almost advancing to declining stocks. Its been that way almost the whole morning. Tech materials, consumer staples, financials, all the riskon group here everything is up 1 because the whole world went up 1 . The s p 500, we gapped up 20 points at the open. Thats really rare folks. Thats 1 right at the open. That was on greece. We surged overnight when the details on the greece talks came out and they were offering concessions, at least from the greek side. It even happened more strongly in germany. ....