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An epic run up 400 this year. We will explain how the retail trader is driving the stock. Plus, big tech, big deals, toppagist tells us that companies amazon, facebook and alphabet should be buying up right now. Consolidation. Power lunch starts right now welcome to jim maybe well get to say hi later on its a record week on wall street which marks the end of the coronavirus bear market. Its coming to a close here. Bob is watching some key numbers for us bob. Its been a record week we had good numbers today. Our manufacturing and services is keeping us positive just want to show you some new highs. A lot of stuff involved in tech. Internet, anything having to do with the internet. Fdn is the new one the hold building, that itb had been on fire eight straight weeks of gains. U. S. Home sales hit a record pace today we saw home prices also move up as well. Look at some of these new high list is fairly thin but a lot is building related horton, pulte, lumber liquid daters these are all at ....
Delivering food than transporting passengers for the first time ever. Slightlyes are down after hours. I want to bring it abigail doolittle. I want to start with uber, engagement down 44 . That is the measure of how many passengers they are transporting. What they made in food delivery did not make up for what they lost. Abigail it is an interesting quarter because they beat the estimates but revenues fell for the first time ever. As you were just mentioning, their primary business of ridesharing just not really there. I see get all the time in new york, there are much fewer driven cars out there. They demand simply is not there. Who knows, maybe at least here we will see a little bit of a pickup. But its interesting to see that food did better than ridesharing. It shows you that these companies are trying to adapt to the pandemic. Tmobile put up a big quarter. They beat estimates. They added more than one million subscribers. You were mentioning apple. Nasdaq simplyy keeps climbing. U ....
Economy as well. With concern that it would hurt the reopenings that would have been under way along with another round of infections because of all the demonstrations diane swan tweeted out today, theres little question the events of this weekend will affect the economy what started as a health crisis, but much more. The riots lasted, how long he wrote a long piece saying, its too soon to know how the economy will transition. The timing and trajectory of broad economic recovery will not be altered hopefully we can find ways to expand opportunity, a way that will more effectively tap the potential of everyone. That will be good for the economy long term. The economic story this week, before the issues was going to be about bouncing off the bottom and indeed we have a paradox here bouncing off of terrible numbers to numbers that are still absolutely terrible. The ism today coming in above 43 were looking for 44 its better than the 41 we have. Same story with ism services on wednesday. T ....
Hotspot while infections in india rise at the fastest pace in asia. Zealandsnks new postvirus recovery. We are joined this hour by the rbnz governor, adrian or. Orr. Haidi lets take a quick look at markets. We saw that exuberance over the Moderna Vaccine progress really dissipate quickly. We saw the late session swing when it comes to trading in the u. S. As it has concerns over the efficacy data from moderna causing some concern. Take a look at the futures in asia. We are seeing downside when it comes to futures trading in japan, australia, and hong kong, although we are looking at a little bit more of a positive open when it comes to trading on the mainland, and just also keeping an eye when it comes to Energy Markets as well given that we are starting to see backwardation between that june and july contract for the wti, suggesting some of the storage issues have started t ....