Conversation in just a minute. Ill take you to the wall. We are focused today on this big pullback for tech. Nasdaq remains under pressure by more than 1 farmer jim, are we witnessing a socalled transition trade right before our eyes, from growth to value and does it have staying power . I think we are, scott i know its dangerous to say this type its different with regards to the rotation, but lets also realize this rotation was occurring before the announcement of the vaccine. All had you to do was look at the industrials and material to give you that clue now theres a very fundamental reason to support the continuing rotation into the cyclicals, into the industrials, even into the financials, which have been left fordead but are coming back it ju its just as simple as there is a path to normalcy ahead of us heres the one qualification i want to make if youre looking at yesterdays rally and saying, shucks, i missed, it relax unfortunately there is terrible news coming on the virus sco
Minister is branding us sanctions on iran in an interview to out 1. The United States restrictions prevent us from even transferring money to buy vaccines so its basically medical terrorism that the u. S. Was engaged. By they have a good afternoon for moscow this 26th of september money kevin 0 in here the r. T. Will do centers just in midday moscow time here now to start with the Ukrainian Military plane has crashed by a motorway in the east and how the coverage and the death toll has now risen to 26 after one person died in hospital so a mistake in that headline i just read you only one person who survived the crash hes in a critical condition. Because more. The plane was carrying 7 officers along with 20 Flight School cadets originally there was posed to be 28 people on board but one cadet was not allowed on the plane now it was reported by officials that the pilot reported a failure in one of the before the crash and investigation has been launched soon after the plane was engulfed
Or that im calling right this is r. T. International with the news and reaction so far this saturday 1st the number killed when Ukrainian Military plane crash landed on a motorway in the east of the country has risen to 26 after one of the only 2 survivors died in hospital the other is in a serious but not life threatening condition correspondent trying to get more details earlier to kevin of it. The plane was carrying 7 officers along with 20 Flight School cadets originally there was supposed to be 28 people on board but one cadet was not allowed on the plane now it was reported by officials that the pilot reported a failure in one of the before the crash and investigation has been launched soon after the crash the plane was engulfed in fire and Emergency Services rushed to the scene along with officials and also personnel of that military school and this is what we heard from them. When emergency units arrived the plane was on fire and everyone who was inside. You. Can go to their re
Well tell you why traders are betting on an even bigger run. Later, airlines lower as they prepare for what could be a slow september the former ceo of continue nenal airlines will be with us to explain what the new normal may mean for travel stocks kelly evans is back. Welcome. Power lunch begins right now its the s p 500 sitting close to its record high now the wild market ride has brought a resurgence of the retail trader bob and kate are standing by with more. Bob, lets start with you in these record highs we are on new high watch and for the s p as well as the nasdaq and whats brought us there, thats a very familiar pattern. We have seen it many times its essentially Technology Stocks thats with megacap stocks moving on the upside sectors, its technology thats been leading the way we see banks, energy and industrials lagging there. We had many rallies in those cyclical value names banks, the energy and the industrial names over the last few months in various occasions including ab
Out. The billionaire Tilman Fertitta will be here power lunch starts right now the dow making major moves to keep up with the changing times and the changing economy bob is looking at the moves and how they will affect the markets. Bob a bit of a shake up in the dow but the moves make some sense. Let me explain why lets take it piece by piece first we have salesforce. Com replacing exxon mobile the apple split has reduced the tech weighting in the dow and we need more Technology Sales force reflect the growing importance of Software Overall in the u. S. Economy. You dont need two Oil Companies in the dow you dont need exxon and chevron with energy only 3 of the s p one of them chevron will do. Lets look at the dow industrials. Pfizer is the lowest stock price in the dow the price would be even lower. Another reason to move it away amgen is reflecting the growing importance of the biotech space. This sounds like two industrial swaps and they are theytheon overlaps a bit with boeing now,