Spreading the next few months could be challenging. Approach with caution. Jay powell warning over economic challenges, despite the prospect of coronavirus vaccine. Treasury yields fall amid growing concerns around the pandemic. California joins texas reaching one million infections. U. S. Election Officials Say the vote was the most secure in u. S. History. Bandss President Trump investment in firms controlled by chinas military. What a week. Clarity in the u. S. Election. A hope old date on a vaccine. We are ending the week with a surge in covid cases. A push poll between the euphoria of a vaccine versus the pandemic. We wake up to french hospitalizations breaking a record. California joining texas surpassing one million infections. Chicago, the latest u. S. To issue a stayathome advisory. The mayor saying, this is literally a matter of life or death. Lets take a look at how this is playing out into markets. A stunning week. We have covid weighing on equities. Into session feeding fe
Lineup of guests coming. Federal reserve vice chairman will join us exclusively in a few minutes for his first interview since last weeks fed meeting. Well also pespeak with the ceoo human there is a and a massive afternoon of earnings headlined by disney, ea, beyond meat and activision and well peek with actvisions ceo ahead of his Earnings Calls after the numbers come out as i said, were at 1. 9 with 59 minutes left lets moex fowlkes on the big stories. Meg has new developments on the treatment and vaccine front but mike, lets kick things off with you in the markets yeah, another day of fairly orderly levation in the indexes. Today its a broader rally even though its been led by the big tech stocks. A chart of the s p going 50 0 going back a year, were back up to the upper end of this crash levels last september, october, sort of going back to early 2018, an area where we gave a little friction to the rallies, but clearly, a market is acting as if big investors feel u underexposed to
In a defiling that it now owns 7. 5 of the food giant which makes oreos, ritz crackers and wellknown brands. Whats unclear is what the investor wants to do with the company. Ackman wanted the snack maker to grow revenue or cut costs or sell itself. Mondelez, for its part says they will welcome them as investors in the company. Ackman joins nelson peltz. His firm holds a 3 stake in mondelez. Well show you whats going on now in the premarket trading as a result of this and you wouldnt be surprised to see that they are sharply higher. What does he want to do with the company . He wants the stock to go up so he can sell the stock for more than he paid for. We were having a conversation off camera. Okay. Maybe he sees something thats not being optimized at mondelez the way that management is running things but what he really knows is i have enough money, 5 billion. I can make a splash and in all likelihood the stock will start going up just on that and then you agitate, you mess around, you
This friday with morning temperatures in the 50s for most of the bay. The valleys will finally get some relief from 90 degree heat as a stronger ocean breeze brings cooler air farther inland. In fact, some communities will see a 7 to 12 degree drop in temperature. Expect partly cloudy skies and highs this afternoon to peak in the low 80s inland, mid 70s bayside, and mid 60s at the coast. The weather pattern Going Forward will keep temps at these levels through the weekend. Enjoy. Sunrise in San Francisco is at 7 04 am. Sunset is at 6 55 pm. Dont forget you can always get the latest weather updates and traffic alerts with the kron4 app. Download it for free for apple and android devices. No major hot spots. Bay bridge wb 80 is less then 30 min from the maze to sf. San mateo bridge no major hot devices. Android devices. Devices. Android apple and it for free for app. Download with the kron4 traffic alerts updates and weather get the latest you can always dont forget is at 6 55 pm. 7 04 a
Were still in rarefied air at these levels with the market well above where it was right after the election, and yet i keep hearing about the day of reckoning thats coming. Im not sure about that day. However, i have to tell you when i look at whats happening with individual companies, not the overall market, i see a game plan next week that most likely will face its roughest test even as i doubt it will produce enough grift for the bears to get the kind of selloff theyre praying for. What makes me so concerned about next week . Retail. Next week the retailers report, and i think well blanche when we see these numbers, especially given their stocks have had a bit of a run going into these quarters. Lets start with two retailers we hear from on Tuesday Morning, home depot and macys. Their stocks have been on different trajectories. Home depot is ameteoroloong the retailers in the world but this stock has had a pattern. It runs hard into the quarter. Then it reports fabulous results and