Check futures, dow futures right now in the red to the tune of 360 points, nasdaq futures down 110 and s p futures lower by 40. Oil prices under pressure this morning. The International Energy agency warning that demand could plummet to less than 25 years. Airlines reaching a deal for Financial Aid. Mornings with maria live. Striking a deal Oil Producing countries agreeing to cut output by 9. 7 millionbarrels a day in an effort to stabilize the price of crude. President trump weighing in on much anticipated agreements. Countries around the world will cut Oil Production by approximately 20 millionbarrels. People are saying 10 million but we think the number that theyll actually hit is closer to 20 millionbarrels a day. This historic action will help americans supported by the oil and gas industry. Saudi minister say the cuts will amount to 20 million a day and confirmed what President Trump just said when taking into account policemens by other g20 nations and preserves. Prince abdulazi
This is not a drill. Gwyneth paltrow will join us after announcing her new show with netflix power lunch starts right now and welcome to power lunch. Lets take a look at the markets now. The dow well off the lows of the day. Still just barely in negative territory but earlier, down more than 200 points. The s p and nasdaq have now turned positive and check out shares of alphabet up 2 jumping to a high after Pivotal Research calls the tech giant a buy. Lets get started with bob pisani at the New York Stock Exchange for more on whats moving those markets e today this is different than friday, contessa again supporting the idea of these kind of events while emotionally disruptive have limited economic impact. Thats what the market is saying so like friday, the low is at the open heres friday and heres today theres the lows friday though, we saw a move to the upside in the middle of the day now, we have been slipping already. We are not slipping. We are holding up here late in the afternoo
Since President Trump and president xi met at the g20 last month. The uk ushers in its new Prime Minister, but can it get brexit back on track and your stockof the day snapping back. Shares of snapchat roaring in premarket trading. Could it be a sign of better times ahead for evan spiegel and the Company Overall . Its wednesday, july 24th. Worldwide exchange begins right now. Good morning welcome to Worldwide Exchange. Im dominic chu in for Brian Sullivan we have Team Coverage on all the manger sto major stories impacting markets. Ylan mui has all things big credit technology. Patrick palfrey is on set with me digging into the earnings story and eunice yoon will have the latest on the u. S. china trade talks. We started in ylan in washington with big tech and the juscrutiny they face. Reporter the review will scrutinize online leading platforms to see if they are harming consumers. In a statement it is said without the discipline of meaningful market based competition, digital platform
Nasdaq higher, 20 points s p 500 up a little over 1 point. This comes after declines for the major indices in yesterdays session. Dow, s p and nasdaq each closed lower by 1 . The s p 500 closing below its 50day moving average for the First Time Since march 28th. Look at treasury yields. See where theyre standing right now. The tenyear note at 4. 182 and the twoyear at 4. 908 , just below 5 . The tenyear yesterday hit 4. 2684 core inflation remained at 6. 9 , unchanged from the prior month, slightly above forecast. Pay growth continued to pose headaches for policymakers as wages grew 7. 8 in the quarter that ended in june were watching shares of cava this morning sharply higher the mediterranean restaurant chain reporting earnings per share of 21 cents since going public swinging to profitability from a net loss in a year ago quarter. Revenue of 173 million Beat Estimates of 163 million. Same store sales rose 18. 2 . The cfo attributing some of the strong traffic to increased Brand Awar
Was slowing down old devices what theyre doing to win back favor and what it means for the stock. First, stocks rallying to kick off the new year. The nasdaq and s p 500 both closing at record highs with nasdaq closing above 7k for the first time ever. It does feel a bit like 2017, when tech crushed the competition, soaring 37 what do you do in this new year . Do you stick with what was working, namely technology, guy . I think you do, mel, and happy new year i think you do stay the course people want to play the laggards, but stay with what works and what has worked. Dan nathan has been on this. Intel, big move to the upside, valuation is reasonable. Micron had that huge move from basically the low 30s up to 50, retraced back to 40, had a decent day today valuation of micron makes sense, dram pricing is still heavy. Texas instruments, great story, theyre in great places, but now 24 times forward earnings, i think its gotten expensive. Technology works, just be aware of what youre buyi