Delays from washington from the trade deal to the stimulus negotiations, deadlines and expectations being pushed back the weve got 59 minutes left to go in the trading week s p 500, 16 points from a record close. Down right now, jon. Still higher on the week everyone except the nasdaq great to be with you this afternoon. We have a big show coming up to finish out the week. Were going to speak with minneapolis fed fred neel sakashkari and later, as stimulus talks grind to a halt, well speak with Maxine Waters about whether there is any compromise to be had. Plus, shell discuss a new bill encouraging the fed to use authority to close the racial wage gap in this country mike santoli is tracking the Market Action. Start us off on the broader market. You can call it resilient or fatigue or really anything a standoff here at the record high levels of the s p 500. The past four days have basic clind of touched it or been shouting distance of it. The were just hovering there. Up 3 or so month
With phase two of the reopening plan the top new york state Real Estate Broker will tell us what she is seeing on the ground and 30 or 40 stories up. Power lunch starts right now. We are about even on the advance decline line but its Technology Stocks to keep powering those names, particularly in the top 25 let me show you sectors here thats essentially at a historic high. Quibble about it. Also having a great time that smh the second one there but Everything Else is kind of lagging so even cyclicals like industrials and banks, even defensive sectors Like Health Care and Consumer Staples they are lagging the big cap Technology Stocks. We have new highs as you heard there at the top but a lot of it is basically mega cap stuff at new highs. Apple is at a high new microsoft, adobe nvidia these are all of the top 25 in terms of market cap. All of them well over 200 billion in market cap at new highs. The big market cap they drag the rest of the indexes along with them they are saying walma
About seven basis points. Still an awful long way to go on that story. Vonnie in the u. S. , it is a positive session, slightly risk on. We have some guidelines for when the economy might start to reopen in new york city and in various economies around the country. Markets hanging onto that. Banks are the best performers in the s p 500, which is up 0. 9 right now. They are followed by Consumer Services and real estate. The yen is stronger today as well, off its highs now. 107. 20. T crude down at 12. 40. That continues to darken. The 10 year yield is now up to 65 basis points. Slightly risk on tone today. Talk a bit about what is happening in a little more detail. Italy, france, spain announcing plans to ease lockdown restrictions as the british Prime Minister pours a little cold water on the idea. Giuseppe conte in italy raising concerns about a possible second wave of infections that could trigger irreversible damage to the economy. Lets talk about the risks surrounding reopening and
Increasing pessimism about growth. More ceos than ever see a slowdown. Sophie chinas mystery virus is spreading through persontoperson contact. Hubs stepping up passenger screening. Lets turn to selina wang in beijing with australian markets coming online. Selina we did see australian markets red hot. We are now starting to see them drift slightly lower, marginally except for the new zealand up. 2 after gaining 3 since the start of this year. We did yesterday see the equities hit record highs when it comes index price and private equity valuations. So, that would be enough to ring bells in normal times but our strategists say that macro backdrop in australia is dire enough to call this rally into question when you consider the massive wildfires that are damaging their economy. With increasing focused on environmentally sustainable investing, that rally is potentially at risk. I want to check on that a little bit more with this next chart. Thelook at that rally in context of the u. S. C
York mayor Michael Bloomberg comes under attack plus. On the. Northwest one story coming up. With your sports. Always i can say i support the. Going to their. Cities managed to stay at the club regardless of the outcome of an appeal against a 2 year ban from the Champions League. Ok we start this news hour in germany where the shooting death of at least 9 people is being investigated as a far right attack a lone gunman opened fire on 2 shisha cafes in the western city of or near frankfurt on wednesday night some of the victims are believed to be kurdish the 43 year old suspect was later found dead in his home the police say theyve also found the body of the suspects mother at the house lets go live now to berlin and our correspondent there dominic what else do we know. We know that this man the weapon that the man had was legally owned he was a a marksman or he had a sporting license to have the weapon concerned and that as was being said that he visited these 2 different she should ba