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bank increasing rates. the s&p 500 is rally and once again today. maybe rally is too strong a word, but it is up 0.2%. of forecasts for it to reach 3600 for the year. the 10 year yield at 1.65%, grinding higher. russia is holding out when it comes to it oil cut from opec. crude is in a holding pattern. of the earnings one notables, up 16% after beating on revenue and adding new users. guy: casper has just opened, the bed in a box company in the states. we saw a significant downgrade of the price into the ipo. they basically cut it in half. went out of the door at $12, now up someat $14.04, so 20% at the moment. as the stock moves forward, you want that bounce. you don t want the negative response we saw from some of the ipo s last year. casper out of the door, trading $14.30.5, it s bouncing around a bit now, but it is a positive response for the stock. i understand we are going to be talking to the ceo, so looking forward to that situation. european stocks track higher ....
of the new york stock exchange casper s ipo is pending. we re awatting the first trade at the nyse. bob pisani is on the floor what s going on, bob casper is opening at $14.50 remember, priced last night at $12 after earlier indications earlier in the week $17 to $19, a haircut at $12, opening at $14.50 terrific timing there, carl. this has been a long route for casper, been private about five years. investors have been pushing back against these money-losing companies that have been out there recently the days of growth at any cost seem to be over. investors want profitability or a haircut and they got the haircut here, opening to the upside, in the direct to consumer space that s been challenging. you see what peloton has been going through. smile direct as well a lot of competition out there old-school people that are publicly traded like temper saly out there, tpx the symbol. they re profitable for many years. purple innovations, they or profitable but barely. ipo ....
sharply low. the dow well off its lows and highs, as boeing pops after the f.a.a. said the recertification of the max could come before midyear. bond yields are both falling once again as coronavirus fears spread the ten-year dipping to its lowest level since october joining us is dan nathan from risk reversal advisers dan, good to see you. clearly a risk-off sentiment today. do you see that as a buying opportunity or sign of more to come. listen, this virus came out of nowhere all of a sudden i think it s given investors the reason to hit the pause button a bit. when you think about the performance so far, the nasdaq making a new all-time high today, you still narrow group of stocks, microsoft up 5% on the year. that s 3.5 trillion in market cap, really doing a lot of work here to me there s a lot of underperformance outside of meg tameg a-cap tech s&p is down about a percent. only one positive, utilities the number of people infectioned around the world the coro ....
of the test flight for the new 77x, which could happen any minute we will bring you the details. power lunch starts right now and take a look at the markets right now. stocks at the lows of the session. the dow is down more than 200 points and on track for its worst week since august. coronavirus fears and boeing s move weighing heavily on the markets. bill all right, seema, come on over for more on what s taking the stock market down this hour, let s get to bob pisani at the new york stock exchange. hello, robert. hello, bill it good to see you, as always tough to go long in the weekend. here s the s&p 500, just a slow drift down here, not heavy volume, kind of like a buyer strike nobody wants to buy going into the weekend. take a look at some of these stocks associated with the coronavirus. you ve got the cruise names out there las vegas sands, freeport-mcmoran, the metals are getting hit, oil stocks getting hit, cruise lines, airlines, all weak today you want ....
a tells airlines the grounded 737 max plane could get recertified by mid-year. moments ago though, boeing delaying the test flight of the newest plane the triple 7 x fill lebeau who never sleeps it covering it from washington hi, phil. hi, kourtney the 777 x test flight the first flight of the 777 x didn t happen because too windy. they didn t have the optimal conditions they are trying tomorrow again lets talk about the 737 max story. as you mentioned the big reversal in shares for boeing happened midday after word got out that the head of the faa steve dixon got on the phone with the executives for three airlines with the 737 max and said look there is good progress made by boeing when it comes to taking care of all the issues that need to be taken care of in order to recertificate the max he also said there is the potential that this plane could be ungrounded by the middle of the year process if not sooner provided there are no surprising coming up. nothing that fu ....