Comes to the coronavirus adding more than 150,000 new cases on thursday alone President Trump is expected to give an update on operation warp speed in just about an hour. We will take it for you live 59 minutes left to go in what has been wilfred a wild week of trading of one that is higher. Higher for the week higher today as well up 1. 3 on the dow coming up on todays show we will speak with chicago mayor lorie light about her lockdown advisory and the potential economic fallout as cases surge in the state of illinois plus it has been a big welcome back for the bank stocks with the kbw bank stocks up 10 the ceo of kbw will join us to discuss whether there is more upside ahead for the sector. First the big stories. Mike santoli is tracking the market meg tirrells that latest on treelts and vaccines as we await an update from the president and Steve Liesman is looking at the impact of the coronavirus surgeon the economy. Mike, the market up 388, and the dow having been up 400. You lock
Thedual listing could be biggest share sale in history. Softbank makes headlines again. Amassedid to have 20 billion in a stock trading movement despite a skeptical response from shareholders. Lets take a look at how markets are trading at the moment. At this as we are just getting some line through when it comes to the reserve bank of australias assistant governor. They are giving a speech saying it is more complex to assess the policy stance than it has been in the past. Due to the economic and fiscal conditions at play. We will continue to monitor some of those comments and we are also looking ahead to the rba Meeting Minutes as well. We are seeing downside in the first couple of minutes or so, trading in sydney on 5. 1 and then new zealand, that market is back to modest gains as we continue to process the outcome of the victory we saw from the Prime Minister and her resounding reelection effort over the weekend. The nikkei 225 seeing upside when we get into the open of. 25 of where
Morning. I could go on and on, mike santoli, but when i have you on the program with me why would i bother i might as well send it over to you. Set us up for the action today, particularly given what weve seen there was that rotation earlier in the week, but it already feels like theyre coming back to growth. Rotated, with he unrotated, we will we will rerotate i do think its indicative of this market that has generally speaking hesitated right underneath the all time highs. We are all looking at that its fascinating as sara and i talked about last night on closing bell we would otherwise be saying, oh, its a quiet post earnings august period, markets in a nice uptrend, s p is up 3 month to date, its supposed to be a negative week, everything looks fine, markets maybe just pausing because its had a 50 run in 100 trading days, but because we are on the verge of that number it seems to gain outside significance in terms of people trying to figure out whether thats kind of an end point fo
Pointing upward the wall street journal is calling the last four months a melt up and thats what it looks like. Dow up by 83 points. S p 500 looking to open 12 points higher. Treasury yields as well. Were at. 572. Theres a mix of what theyre thinking and what the equity markets think, right melissa okay we have a we will work on the audio and hopefully get that a busy week ahead. A twoday fed meeting with a policy announcement. No major change is expected. That will tell you that but investors will watch for clues about what the central bank might do next and then on the corporate front earnings season kicks into overdrive 167 of the s p 500 companies will report. Well hear from 12 dow components and among the names likely to get a lot of attention, apple, amazon, boeing, mcdonalds, 3m, exxon and many others. This is if you like earnings, if youre excited by earnings this is going to be a big week. So far this season we heard from 128 of the s p 500 companies so well more than double t
Expected to make 4 billion in this current quarter, they will plow most if not all of their money right back into the business on what are being called covid expenses. Typically this company gets a case they ares not, probably because this case far the stock went too too fast, so giving a lot of that back. Far, too fast, tesla had been a double, but down about 11 . Down aboutlook 11 but it ceo gave it a push. Abigail i would agree on that, it is hard to interpret these tweets. Elon musk tweeted saying that the stock is too high in his opinion. He also put out a couple other tweets saying that he is selling many of his physical possessions including not owning a house, get people back the freedom. It is he is known for shooting off the cup in terms of treating, so it is hard to know how serious he is. M a valuation stand for standpoint, the stock is too expensive, 31 times enterprise value, and the chart, this chart is caught in what could be a double pop. If this were to confirm, and t