Good tuesday morning, welcome to squawk alley. Im Carl Quintanilla with jon fortt and Julia Boorstin with us dow because up 275 this morning. We lost some of that the covid19 vaccine rotation is continuing with tech down another 2 today and the s p 500 down 26 points thats where well begin this morning. The nasdaq falls investors rotating out of tech to some degree the managing director is going to help us start off the hour. Good morning, mark good to see you. The. Hey, carl, good to see you. We know i mean, the argument has been made that world changed a little bit yesterday for the better but is the tech reaction is there bath water being thrown out too . Well, yeah. The world did change id argue a lot yesterday. And not surprising that were seeing a rotation in some of the tech names i think for the next little while here, you know, expect the expected were going to think continue to see some rotation away from the work from home names probably bate probably a bit of a short term r
Following the report we told you about last night, that north korea fired a missile that traveled over japan racheting up the already high tensions surrounding the korean peninsula. Couple that with the historic flooding in houston and the surrounding areas and you would bet that would be a recipe for a selloff in stocks, but thats a bet you would have lost because by the end of the day stocks did a nearly 200 point about face. The dow rose just about 57 points to 21,865. The nasdaq rose 18 and the s p 500 added 2. Gold did react to the Missile Launch settling at nearly a oneyear high. Well look more at whether this is the right time to get into the socalled safe haven invest 78 investme later in our discussion. The missile traveled over japanese air space causing a frightening situation for residents and strong rhetoric from the government. We have more from nagoya, japan. Reporter well, like so many japanese here, we were woken up at 6 00 a. M. Local time with the latest launch comin
If brian were here, hed know that song i do not im Tyler Mathisen major averages in the green in this next, really, three hours left on this final trading day of the quarter and of the first half of the year the dow getting a boost from nikes rally on the backof its earnings beat out last evening check out whats moving right now. The dow industrials up a little bit. As you look at humana, Becton Dickinson all hitting new 52week highs. Its also the last trading day of the first half. Investors, so far this year, have seen some solid gains bob fisani is on the nyse floor. D dominic chu. Thanks, tyler take a look at the sectors here. The key point is were continuing to see mild resistance in technology for example, semiconductors are lagging a bit. Biotech, which is another Market Leader lagging a bit a lot of talk about this rotation going on. Look at the leaders in june. The big leaders have been tech, particularly Semiconductor Stocks utilities have done well as Interest Rates have sta
The truth on behalf of the families for the four dead americans. I should not be a distraction from that, and thats part of the decision as well. Thank you very much. Theres been some rumors that a letter that was put out by no. Can you put to rest those right now . No. Come on. Who do you think [ inaudible ]. Huh . Who do you think i think the conference should be able to decide. Thank you all very much. Okay. That was Kevin Mccarthy listening right there just a few moments after he shocked a lot of people pulling out of the race for House Speaker. He said of the party, i think were going to be stronger. He admitted that the vote was going to be tough, said he didnt want to win with 220 votes, would rather win with a much larger majority and also commented on the comments he made regarding the Benghazi Committee saying that wasnt helpful to the overall process. Were sort of left in limbo as to where the vote for House Speaker goes from here. The stock market clearly didnt like the new
Sows. The dow is indicated to open lower by 187 points. S p futures down by 24 and nasdaq down by 61. Chinese president has arrived in the United States. Hes going to begin in seattle to meet Business Leaders including tim cook, bill gates and bob iger. And then to washington with an official state visit. He is defending the leadership of the chinese economy. He promises that slowing growth and market swings wont stop needed reforms. Meanwhile, he is calling on china to keep its economic commitments. He says beijing should set its sights on policies that will further its reform agenda such as targeted agenda and they should be subject to upward pressure that would drive the currency up and not just down. Well see what he says out in seattle to the ceos and what theyre looking for and then of course what the president says to him when he arrives in washington. Theyre not, the pope and the chinese guy everybody hanging since theyre in the same place. A little cocktail party. Pope does lo