Up for an eighth straight day. The mega cap tech names making the new milestones josh, the big five as we say amazon, apple, facebook, alphabet, microsoft all but alphabet hitting the new highs today crossing 6 trillion as you flag end market cap for the first time ever. They, amazingly, are now equal to the next 24 largest s p 500 stocks combined. You flag that. Yeah. What do you make of it . Yeah, so my research. We put this up last night. Just incredible when you think about the companies that make up that next 24 were not talking about small potatoes were talking about jpmorgan which is a 300 million cap and pepsi, coke, mcdonalds. Its really wild and these stocks now are just going parabolic. I think i want to maketwo points very quickly. The first is that this is not unprecedented. In the mid 1960s just two stocks General Motors and at t made up 14. 5 of the total market cap of the s p 500. And the top ten names in the mid 60s made up about 50 of the market cap so, we have seen t
Welcome everybody. Our breaking News Coverage of the market continues now welcome once again to my kitchen. Big rally to end the week on wall street. The dow up about 400 points right now on reports that coronavirus patients are responding positively to a gilead drug. Its tale of two dow stocks today. Boeing surging as it gets ready to resume airplane production in Washington State apple is sinking as Goldman Sachs says the stock could fall as much as 20 on lesser iphone sales. Crude getting crushed. Just how low can oil go . What happened with all those production cuts. Kelly. Welcome. Over to you. Thanks so much. We have full Team Coverage we have a rally, kelly. Its getting harder to push it forward. Were now pushing up against the 50day moving average for the s p 500. Sectors that are most beaten up this week are doing well we highlighted this all day. Finally small caps out performing banks out performing home builders, industrials oil down as much today even the energy stock is r
Freshmen congresswoman. Bernie sanders is about to outline his medicare for all proposal. He is doing so at George Washington university. If he has any suggestions at all how to pay for it. A heat wave expected to hit 2 3 of the country. What you need to know about that. If the citys power grid following massive black out here in new york city. Melissa fox Business Team coverage. Gerri willis on floor of new york stock exchange. Blake burman live at the white house. Deirdre bolton at the newsroom with netflix earnings. I see some numbers crosses here on dow jones. I think well get to those as soon as possible. Sorry . Lets go to Deirdre Bolton right now with those numbers. Deirdre. Taking a look at netflix. 60 cents a share. Thats a clear beat what analysts were expecting at 60 cents a share. If you look at revenue, want to be kind with netflix, say exactly in line. If you want to be critical, a slight miss. Wall street looking for 4. 93 billion. 4. 92what netflix posted. To put it in
Discovered new Software Issues and financials outperforming ahead of the stress test results. Joining for the hour to break this down is josh brown. I asked you what the key stock indicative of this market is and what people are watching you said gld that was surprising. I thought that was a private conversation, sarah nothing is private with me. I said gld because it trades like a stock and the dollar doesnt but what im really getting at i really feel the dollar is at a very critical level and i mentioned it was kind of sitting on support i think what the dollar does next from here could have big ramifications for everything from earnings estimates to emerging market stocks. It keeps weakening here. It hasnt broken down since trump has been president its been fairly strong. Some would say too strong. I know he would. For sure. You asked me what are people looking at and focused on, believe it or not its the dollar again gold is huge fiveyear breakout and breaking of the down trend is
Link, hightower chief investment strategy, cnbc contributor and pretty good golf im told. Hmm not so much. Good to have you on how do you review inflation data and did it change any of your expectations about race, the fed, the markets and it didnt change my thoughts. We are making progress, though, brian, on the numbers. Right . Look at, say, cpi, 4. 7 year over year, 6. 6 at peak. Making progress. The problem, rents are still sticky, 99 of cpi shelter. And increased. 5 from. 4 number is getting to 2 where the fed wants get to to for cpi. A long ways off. Then look at, by the way, you follow energy really close right . Look at ppi numbers today. Acceleration month over month in headline number. Nots even including the 24 gain in Energy Prices from the june lows i think next month, next couple of months, youll see elevated ppi numbers. Then add in the economy, which is a real bright spot. Nobody thought we would see gdp accelerate each quarter this year everyone said beginning of the y