And welcome to power lunch. Im melissa lee. Check out this rally right now all 11 sectors are in gree green. Taking a look at some of the stocks were watching. Salesforce is under pressure for the second day in a row, down about 7 in the last week as it gets set to report earnings after the bell and reportedly to make a deal. And we have exclusive data on how the bitcoin boom is boosting this payment stock first lets get over to bob for more on todays rally. Hey, bob hello, melissa. Good start to a traditionally good month we got talk about a new stimulus plan, janet yellen on the air and, overall, 11 sectors all on the up side. Bank stocks leading the way but technical stocks also. No dig selloff in tech that was also a november play there. Theres energy you have your value play with banks, energy up you have your growth play with tech, cyclical with industrials up and even more defensive groups, Consumer Staples on the up side as well. This is what i mean when i say the goldie locks
Three months, yesterday. So well sort through it all and some detail with fox Business Team coverage set up for you blake burman at the white house, he has news on the president. First throw to Lauren Simonetti on these markets. Lauren it was a weird day. It was certainly a volatile session, so the morning you had an 800 point rebound after yesterdays 1,800 point selloff we saw it evaporate by the afternoon and then come back again so late morning the Federal Reserve said its worried about a slow return to normal and permanent job loss and you can see when the market came down and then in the afternoon the cdc said a spike in new Coronavirus Infections may require prevention efforts like the ones we saw in march, so very volatile and what that volatility did was it pushed the vix, the fear index at one point above 43. At the bell this is the gains that we saw the Dow Jones Industrial average closing higher by 477 points the nasdac up 96, s p up 39 for the week, not so good all three ma
6 00 here are the results just reporting. 2. 53 a share. A penny above estimates. Just short of 27. 52 billion here are the keys for Guidance Company now expects sales to grow by 1. 8 the previous guidance was 2. 3 1. 8 versus 2. 3 comps are 3. 5 previous guidance was around 4 . Lets bring in senior analyst. So the Forward Guidance is below where it was previous . Yes quickly looking at these numbers, there was a sales miss in the quarter also lowering guidance for the rest of the fiscal year. Sales guidance Sales Guidance. Im not sure whether that is a total company or domestic. The street was around five that is a point and a half the street is a full point above where the company had guided the company had guided four. For the quarter ill look at the quarter first the street was around five for the year, the company had previously guided for four they missed roughly a point, point and a half in q 3. They are taking guidance down about 50 basis points. The real message here. It is a
Adami. The selling is widespread with the dow dropping more than 800 points all 11 s p 500 sectors finishing the day in red the market meltdown leaving investors on edge and sparking fears a recession could be on its way. What is your take on the day, guy adami . My take on the day is it makes a lot of sense volatility is here i think volatility will continue to grind hard. Pete can speak to this when is it over . Thats what everybody wants to know so i can pontiff indicatic. We are looking for a vix that climbs to 30, we have seen it peak out before. Or you are looking for the s p 500 to put in a low of 2690 or so, which is midway between the low we saw december 24th and the recent high in the s p 500 of 3025 carter will be on and im sure speak to levels, but those are the things you are looking for in terms of it doesnt make sense, i think it makes sense and i will say this as well. The gold market has been telling you Something Like this has been in store for the last few months, me
Week, two big stories you saw only on 4 first, a father sharing his coerns about a guardrail found on local roads and c how itld impact your safety. I came out here, i read the documeds, i mea the units, and theyre different from what was test, period. The new accusations against the maker of that controversial guardrail thats being blamed for a number of deaths. We have consumer investigation. And later a new beginning for the Catholic Church in washington. D news4soreen gentzler sits down with archbishop wilton d. Gregory for his local tv interview. Welcome to news4 this week. Hello, everyone. Im leon harris. Were going to begin with a consumer investigation that you saw only on here on news4. Ew accusations against the maker of a controversial guardrail thats being blamed for a number of deaths here i our region and across the country. This particular guardrail is called the xlite. Its been the center of an investigation for nearly two tars. Here arehe new details. Reporter steve, h