Down again that reopening trade getting slammed. You can see that in the airlines there all taking a hit today later, check out this ride shares of avis budget, up 300 from the march lows. Getting a boost in the red hot used car market. The ceo will join us power lunch starts right now thanks energy and financials are leading the declines today they are down way more than that stall worth technology sector. Bob has more on this Early Morning reversal same story. Teches still out performing energy, financial, other cyclicals. Not a good start to earnings season big miss on earnings and very poor guidance. Walgreens has not been a good stock. Thats real problem. I think they may be basicing market mentality banks same story Huntington Bank was 5 goes to 12 its back to 8 again. Its an invertsed v. Whats moving the market theres five things. Is the reopening going well or not. Lets call it bumpy. Is stimulus coming maybe theres less good news on treatment advancing. Thats good news elsewhe
There has to be a reason for stocks to keep going up, because there are no tail winds. Sure the economy is reopening all over the country we had great jobs report last friday but we still have 13 unemployment in this country as much as we want to reopen, the sectors that have turned redhot, thats why the dow dipped 300 today the tech heavy nasdaq advanced stocks can only go up so much based on the fact the world isnt ending lets take the two most exciting areas in this Market Airlines and cruise lines. Those juggernauts were marching towards their precovid highs neophyte internet goaded wagerers, betting that someone would come in and buy higher that worked for a while, but today it stopped when you invest on the greater pool theory, sooner or later you are out of fools there are times that the greater fool theory does indeed work i am not someone who will give you a hard time for making money the wrong way. The games in these groups are still very real. But if you are going to play th
Nest nestle im morgan brennan. That news on boeing is shaving about 100 points off the dow concerns about the china coronavirus are frustrating emerging markets Software Stocks did help the nasdaq hit an intraday all time high earlier joining us for the hour is steve weiss. Great to have you. We certainly have seen major averages take a leg lower between this first confirmed case of the coronavirus here in the u. S. And then this news from boeing pushing out its forecast for return to service to the summer you still invested in boeing so i said on the halftime report, i think thursday, i told just about a tag into my position that morning then the news hit later in the day. Now we get a statement i was looking at it this morning. You hate to be reminded youre losing money i figure if the stock, when the max goes back stock maybe misses on the first 10 but i wont have to deal with that and losing capital heres the statement from the company. Ill read the first few words. As we have emph
Im Katie Greifeld in new york. Welcome to bloomberg markets. We have good news. Stocks, s p 500 up. 7 so far. If these gains hold that would be the second straight day of wins for the s p 500 which feels like hasnt happened in a while. Big tech, the nasdaq 100 currently higher to the tune of. 9 but as we know, everything can change tonight when we hear from tesla, kicking off a big week of earnings. I did want to check in with the bond market. It yields were at higher but now moving lower, the 10 year yield lower by two basis points, very quiet day so far. We will see if that holds. From the bond market to airlines , jetblues nosedives with revenue said to fall more than anticipated this year thanks to bloated capacity in latin america. Last month jetblue laid out plans to drop routes and we have the details. It is pretty brutal. At one point falling by the most since 2020. Brooke this has been the story of the past year for jetblue that they just had too much capacity and is way out o
Workers are determined these new green jobs wont be worse jobs, as the bbc s north America Business correspondent Michelle Fleury found out when she visited lordstown, ohio. Stretching across 64 acres. Altium sells a Battery Factory in lordstown, ohio, is far from the picket line. But this site, a partnership between car maker General Motors and korean battery supplier lg, is at the forefront of the United Auto Workers fight to protect workers through the move to electric cars. Connie ziegler is a Maintenance Technician here at the only american Battery Plant to be represented by a union. Seeing those machines move and make a cell. I was like a kid in a candy store. I was so excited. She loves herjob, but says shes had to fight for pay and benefits. Battery plant workers earn a fraction of what traditional auto workers make. We want that job security. We want that, the fair, fair wages. 16 an hour is not fair. 18 an hour was not fair. You know, and we want the safety. Safety was not th