Jonathan ferro and Lisa Abramovitz are off today. Joining us today is anna edwards from a simulcast. Dow futures up 62. All the politics in america. Milwaukee in a virtual convention. David westin leading our coverage on that. What i find absolutely interesting and i think london has done a better job of this is the shutting down of our economies. Our coverage of the tourism in , all the beaches in the summer, how shutdown is london . Anymore, all that much it has opened up, in theory. This is a services economy, and plenty of people, including myself, are working from home. In terms of the shut down, we have lifted a lot of the lockdown measures that had been in place. What is on my mind from a market nightclubs and aviation. Those are really driving sentiment across the european continent when it comes to our freedom of movement. It is being eroded, perhaps rightly, because of the virus. That is not good for nightlife or the aviation stocks we see under pressure. Tom we have been wat
Midwest. Will be b here to give us a consumer check as power lunch begins right now welcome to power lunch. Im contessa brewer. Check out where we stand after hitting record highs the dow mostly in the red thanks to boeings move lower the s p barely hanging on to the green. The nasdaq again, still in the green, but barely hanging on to the gains. Take a look at these tech heavy weights which have been b leading the rally. Facebook up half a percent dpo google up a half a percent the dow crossing 29,000 for the first time today though it is off that level right now. A handful of stocks responsible for this latest leg of the rally and bob pisani is taking a look at those names hard to believe it was only a couple of years ago we were at 20,000 so i want to show you whats responsible for moving the dow from 20 to 29,000. Concentrated, but not as much as you might think. Apple not surprisingly 15 of the gains is through the apple. Boeing, 13 . United health care, visa and microsoft. B abou
Brexit break through . Reports that the European Union and british negotiators are closing in on a draft deal with 16 days until the brexit deadline boosting sentiment. A trio of dow stocks out with the report card. United health, nations Largest Health insure. Neil raised profit outlook for 2019. Were looking at biggest jump in threeyears. Unitedhealth is benefiting from Medicare Advantage memberships. We talk about jpmorgan chase. That is the nations biggest bank. Solid results at both Investment Banking and consumer division. Jpmorgan said customers increased both their deposits and their loan activity in the quarter. Finally here, third dow stock, johnson johnson. Said the consumer was also strong, buying more bandaids, neutral tylenol. Despite wave of litigation with its talcum powder and the opioid epidemic. Warms fargo, earning fell. Aggressive brook tests at the bank, setting up fake accounts, dinged the reputation, at that theyre suffering legal bills from. Goldman sachs steep
Faces as well. There is also going to be, it is clear, a lot of communications between the u. S. And chinese negotiators here in the upcoming weeks as President Trump said this could take three, four, five weeks, maybe until the apec conference middle of next month to get quoteunquote, papered. Earlier today i asked treasury secretary Steve Mnuchin what a mode rap might look like over the upcoming months and this was his response. The current plan there will be deputy level calls this week. Principal level calls next week between ambassador lighthizer and myself and the vice premier. Those are things that are planned. I wouldnt be surprised if there is deputy level meet national person. I think our expectation well meet with the vice premier in chile before the president s meet if there is any final issues. If we need to have inperson meetings more inperson meetings to get this done, obviously well do that. Reporter the details within phase one have yet to be produced. Mnuchin says the
the wild ride. take a look at futures again, we are in the green opening up about 80 points higher s&p looks like it would open up higher nasdaq dak would open about 30 points higher. almost as if it didn t happen. no coronavirus, no worries, no nothing. amazing amazing how quickly the market gets over things i don t know if this is positive i feel like we may have overreacted on friday. some recovery on monday was okay i don t know that i can explain this much of a rally is this all fed related and maybe the central bank of china? part of it is that it didn t pred to the u.s. as many feared. there are so many people quarantined and so many people not at work. the cases are going up so much why do you feel the fear in the market has evaporated. what is that about irthink it is a little bit of animal spirits we get too scared when we see a pull back. you shake the apple tree and some of those fall down and it is okay. the tieback to our companies we are not min