Heres where we stand today. The dow was up about 150 points on the open this morning, but thats been wiped out for the most part. The s p driving into negative territory. The nasdaq getting hit the hardest, down about half a percent, but look at the staple stocks today been hitting new highs cal bells soup jumping as much as 10 to its high es level in more than a year tyson foods, pepsi, both prints record highs today thank you, bill as stocks race back to highs, the countdown is on to new tariffs in a couple of days. Bob pisani is watching that at the new york stock exchange. Bob. Hello, kelly. You know the markets lost some steam here after a broadbased rally this week. Were still higher on the week and only 36 stocks in the s p 500 are down thats remarkable. A big win here the other 464 companies, theyre all up just shows you how broadbased this rally has been. Heres the problem many see the rall y as tenuous and tentative. Theres wide disagreement over how much slowing the school s
Weekend for labor day. Road map, it starts with some optimism on the trade war front. Same thing we were saying yesterday. Stocks rising amid cooling rhetoric but here come tariffs. A new set, theyre going to be hitting chinese imports and will kick in this weekend. Keeping an eye corporate earnings, plenty this morning. Campbell soup, ulta, dow, workday. Shares rallying, this on news that 16 models will be exempt from the china import tax. All three major indices in the red for the month. And the nasdaq is the biggest decliner still down more than 2 , this might despite what has been a last rally the last few days well see how we end the month. It has been a round trip, actually, from last thursday to yesterday on the s p 500 you recouped all that was lost on that friday, a surprise escalation in trade war fears. Todays open at the s p level that were seeing right now, it would take you back three weeks. Basically august 8th, most of the losses of august, it is kind of partly, i think
In europe, the dax up 1. 5 the cac up 1. 4 . Ibex up by more than 1 . Looking at the treasury yields the tenyear yield cracking 1. 7. Went out on the day at about 1. 71 the tenyear yield now at 1. 675 tom and i were chatting about a blog post from pimco saying u. S. Nominal yields could go negative dont blame the Central Banks, there are also Secular Forces at play that could bring down u. S. Rates. I think thats what happened overnight. It caught a bid because of that blog post. Thats a big story with pimco, the Largest Bond Fund manager in the world saying rates could go negative, rates could go negative. 1. 67 on the tenyear yield. Disney shares are under pressure this morning. The company reporting earnings of 1. 35 a share, missing analyst estimates by 40 cents. Revenue coming in short of forecast disney blaming costs related to the creation of its new streaming service, which we knew would cost something and the integration of foxs entertainment assets which it bought for 71 bill
Facebook and apple grilled by lawmakers. How these last few days have shaped Silicon Valleys future. Moon choose to go to the and these other things not because they are easy, but because they are hard. Emily and we mark the 50th anniversary of the first moon landing. I speak with the captain for moonshot on nasas legacy and why we should not be going to mars. First, to our top story, what else but big tech earnings . Shares of microsoft jumping after strong fourthquarter results thursday. The tech giant has benefited from ongoing strength in the Cloud Computing as your business. And microsoft has extended its lead over amazon, apple, and alphabet for the title of worlds most valuable company. Joining us to discuss, ross gerber, and bloomberg opinions shira ovide. Ross, what is your take . Ross what great numbers. Talk about a Mature Company showing it is still a growth company, and how great the been, fromchange has ballmer to know della. Tohas been an amazing shift the positive for m
S p and the dow look to make some history again today crypto again as we said in the cross hairs getting blasted from all sides and a surprise for snap were going to tell you what has that stock moving higher this morning. Stocks are aiming to make some history again dow and the s p on track to set some new alltime interday records. A day after posting record closes including the dow finishing above 27,000 for the first time, jim. As, again, powell was the name of the game. Yeah. Look, powell is giving you what you want if youre a bull. There were some great lines where you said, look, remember what my job is my job is if we have an expansion, keep it going and that is so bullish because what hes saying is we have an expansion. It may be slowing. Weve got to keep it going so we have to do some cutting. The part of the game with 25 versus 50 is a setup the bears are saying we need 50 so that the stock market does not run down theyre not going to get 50. Im disappointed i think what powe