Growth is slowing down due to the outbreak across the sunbelt. We have been at one point up 6 . Were now up 0. 7 . At one point we got to the highest level since the pandemic began. Ahead on todays show, stocks seeing a big rally to start the week Jeff Rosenberg of black rock says the bond stock model does not work in this environment he will join us to discuss where hes putting his money to work right now. Plus, entertaining in the age of coronavirus. Well speak with pitbull about how artists are navigating a World Without live events, and his efforts to help latino businesses lets focus in on the big stories with 59 minutes left of trade. Bob pisani tracking the action phil lebeau is watching the surging stock prices of electric vehicle makers joining us with his thoughts on the race for a vaccine and the biotech name is michael ye from jeffires start us off with the market with the dow up 400. We have had a remarkable run in the last three weeks or so, sara, with mega caps, semicond
Base so as you can see here its a bit of a split moving away all these operations out of china into different parts of the world but again you know these guys make i pads they make i phones they assemble these things so apple is very reliant on them now looking at the Current Situation and with these demands that apple has from them. Saying well move to one of these other countries they have operations all around the world to japan vietnam. The Czech Republic brazil and mexico but here is the issue at hand apple might be a huge 2 clients of foxconn but so is china so were looking at this 1st of all 50 percent of fox conns revenue is related to apple so massive and analysts say only about 25 percent of their manufacturing facilities are outside of china so how they expect to meet these goals. Quite clear on that but if the company says it could do so while it might be able to do so but theres another angle. Here which is political the guy whos the chairman of this company terry go he is
Global report today as the European Competition commission blocks the merger of the steel making units of indias tata steel and germanys these same crop the 2 companies had previously fact off the proposal after the e. U. Competition commission signaled that both companies would have to divest certain assets to address the regulators antitrust concerns Competition Commission our market has now effectively terminated the deal that would have created the 2nd biggest steel manufacturer in europe mr best d. J. Decisively denies the deal after many stakeholders told the commission that the 2 companies counterproposals on antitrust issues would not address their concerns the final denial may fuel calls for reform to the rules the commission runs by as the Steel Industry observers say that some consolidation is needed to stabilize an industry unsettled by events including the us tariffs on imported metals from the e. U. China japan and russia. Number. Technology firms are preparing for the lo
Guy stoxx 600 has gone on holiday. Ignore it. The china trade, something is happening there. We are down, names like glencore under pressure. That stock is up by 6. 14 . The luxury story is interesting because the china narrative fees into that story. Basically, european stock markets, as you would expect in august, are on vacation. Alix we will get to that in a second. S p up. 4 . U. S. Steel is up 27 , a potential m a story. They are looking at different alternatives. You will speak to the ceo and about half an hour. The 10 year is up by three basis points. Urc and u. S. Real yields move higher you are seeing u. S. Real yields move higher. This is the dollaryuan. It is the offshore market, so it could move more and you can see it up by about. 3 . Part of that is a weaker china story. Guy she is not going to let that theme go. The question of the day is about real yields. We debated this in our morning meeting. It is about what is happening in china. We know when china cracks, bad thi
Was slowing down old devices what theyre doing to win back favor and what it means for the stock. First, stocks rallying to kick off the new year. The nasdaq and s p 500 both closing at record highs with nasdaq closing above 7k for the first time ever. It does feel a bit like 2017, when tech crushed the competition, soaring 37 what do you do in this new year . Do you stick with what was working, namely technology, guy . I think you do, mel, and happy new year i think you do stay the course people want to play the laggards, but stay with what works and what has worked. Dan nathan has been on this. Intel, big move to the upside, valuation is reasonable. Micron had that huge move from basically the low 30s up to 50, retraced back to 40, had a decent day today valuation of micron makes sense, dram pricing is still heavy. Texas instruments, great story, theyre in great places, but now 24 times forward earnings, i think its gotten expensive. Technology works, just be aware of what youre buyi