we have three co-equal branches of government, co-equal. our president is not above the law. justice serves the people. it doesn t protect the powerful. justice is blind what we saw yesterday in plain view was another violation of the fundamental tenet of this nation not only did we see the failure to protect one of the throw branches of our government, we also saw a clear failure to carry out equal justice. as we used to say in the senate, excuse a point of personal privilege. a little over an hour and a half after the chaos started, i got a text from my granddaughter, finnigan biden, a senior inher last semester at the university of pennsylvania. she sent me a photo of military people in full military gear, scores of them lining the steps of the lincoln memorial because of protests by black lives matter she said, pop, this isn t fair no one can tell me that if it been a group of black lives matter froprotesting yesterday, they wouldn t have been treated very, very different
we see of course, we are watching moderna. the fda advisory committee is meeting right now and could start voting to recommend emergency use authorization of its covid vaccine in the next hour we will have the details and any breaking news that comes our way. start your engines one hedge fund veteran is taking on the oil giant exxon what is shaping up to be one of the biggest proxy fights of the year we will explain as power lunch starts right now welcome to power lunch. we start with breaking news. bitcoin is surging to record highs today. this ipo has been in the works for a while, rumored to be so you are right, coinbase announcing it has confidentially submitted a draft registration statement for an s1 with the sec to go public that process usually takes several months of questioning between the sec and the company before it can actually disclose its perspective, give us insight into what its financials are, more about the business model. to your point, by coin hit
this can also be seen in currencies, stocks. investors are bracing for turbulence not only on u.s. from novemberbut on into december. those worries of a contested election, how do you hinge for that? democrats, dropping a proposal of around $2.4 billion worth of help. plenty of first to be chewing on into the weekend. obviously, this week was a little noisy. we saw ongoing selling pressure. ,ith today s rebound in tech it finished tire on the week. we are sorting the signal through the noise. tech was a huge winner throughout this. they remain in a funk even with the gains, below the 50 day moving average still. it is the first real-time that we continue to be in this theine phase for tech since rally started at the end of march. he saw this reflected in a lot of other metrics, too you saw this reflected in a lot of other metrics, too. we still don t have a proposal on the table. saw the breakevens rally off the march lows. and indication of not only fiscal stimulus, bu
the model 5 new as elon musk does a huge stock split, five to one. and when does 20% equal 80%? it is your morning riddle. it has to do with bonds and yields we re going to show it to you coming up in your rbi on this wednesday, august 12th and this is worldwide exchange right here on cnbc. well, good morning, good afternoon, good evening and welcome from wherever in the world you are watching i m brian sullivan the rbi is really interesting today. it maybe, just maybe shows you how price sensitive all-american borrowers really are that s coming up we ll get that a bit later on in the show right now let s get to the market futures are back on the rebound. up another 250 deja vu all over again that s where we were yesterday higher across the board. today many technicians might say an important day because we had that huge reversal in the final hour of trading. the s&p 500 which at one point was within half a percentage point of the interday all-time high closing lower majo
are so wide in disparity. are bravehose who enough for dumb enough to time this market, we have not seen back to back gains since february 12. we have had this seesaw where we have this string of declines, then this rally, that it resumes the decline. scarlet: i am taking a look at the scope of the moves. when he 3%. almost a quarter of the members, 10% today. that sounds like a lot but yesterday, on a day in which the s&p declined 11%, two thirds of its members. not even close to what we had seen yesterday. the big movers are really in the defensive set ears. people ares if saying risk on and romaine: we are talking about the mechanisms of the market here. joe: the nasdaq up over 7%. some talk about some of these tech companies being popular because they are kind of the new staples. a lot of them have really good balance sheets. even a company like apple, which is exposed to so many risks, something to watch. havene: so many analysts the idea that you have this sort of w