Good tuesday morning, welcome to squawk alley. Im Carl Quintanilla with jon fortt and Julia Boorstin with us dow because up 275 this morning. We lost some of that the covid19 vaccine rotation is continuing with tech down another 2 today and the s p 500 down 26 points thats where well begin this morning. The nasdaq falls investors rotating out of tech to some degree the managing director is going to help us start off the hour. Good morning, mark good to see you. The. Hey, carl, good to see you. We know i mean, the argument has been made that world changed a little bit yesterday for the better but is the tech reaction is there bath water being thrown out too . Well, yeah. The world did change id argue a lot yesterday. And not surprising that were seeing a rotation in some of the tech names i think for the next little while here, you know, expect the expected were going to think continue to see some rotation away from the work from home names probably bate probably a bit of a short term r
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
You have to say the banks now have a difficult situation on the one hand, they are asked to come forward with loans to enterprises in difficulties. On the other hand, they have to do their Due Diligence wirecard plunges to the bottom of the stoxx 600 as the German Payment Company becomes the first dchl ever to file for insolvency im not going to use any of the alphabet soup we hear about. Vw, nike whatever the recovery is going to be a complicated matter adds that the world has crossed the lowest point of the crisis Government Council member says central bank has taken the right action. Happy friday, this is how we are now shaping up across the market as we move across the session. An hour transpired a risk at the start and a little give back throughout the trading day. Green has given evidence on the screen close to. 07 we are looking at right now. A bit of a volatile week investors doing repositioning for the quarter and end of the first half after this recovery trade that has splash
A blow or has cast doubt on the way the International Chemical weapons watchdog handled last years alleged chemical attack in the syrian city of. A internal email from an unnamed employee at the o. P. C. W. Claims the organization misrepresented facts in its official report released by wiki leaks it coincides with the o. P. C. 5 Day Conference which is now underway in the hague. On the agenda of this annual meeting is just routine administrative stuff but this thing this in this whistleblower email is certainly the big elephant in that room because it was compiled by one of the co all of those over the o. P. C. W. s report on the 2018 the chemical attack in the syrian city of duma and well his words i should say sum up better than anything hes feelings when he saw what the report that he was working on turned out to be as hes accusing the o. P. C. W. Of manipulating facts after reading the modified report i was struck by how much it misrepresents the facts an unintended bias has been i
A whistleblower has cast doubt on the way the International Chemical weapons watchdog handled last years alleged chemical attack in the syrian city of duma a leaked internal email from an unnamed employee at the o p c w claims the organization misrepresented facts in its official report the release of by wiki leaks coincides with the o. P. C. W. s 5 Day Conference which is now underway in the hague. On the agenda of this annual meeting is just routine administrative stuff but this thing this in this whistleblower email is certainly the big elephant in that room because it was compiled by one of the co all of those over the o. P. C. W. s report on the 2018 that chemical attack in the syrian city of duma and while his words i should say sum up better than anything hes feelings when he saw what the report that he was working on turned out to be as he is accusing the o. P. C. W. Of manipulating facts after reading the modified report i was struck by how much it misrepresents the facts an u