Power lunch starts right now. Welcome to power lunch. Hi, everyone. In today for kelly evans. It has been a long road back, but the s p 500 right now is near those record highs from february. About 1. 5 away. But as the nasdaq lags the browder market, check out some of the cloud names under pressure. Cloudflare, dropbox, zoom, and docusign. And you can see these moves playing out the industrial sector slee sector is leading the way as is energy. Tyler. President trump signing a number of executive orders over the weekend to expand relief efforts amid the coronavirus pandemic. As congress failed to get a deal done. Steve liesman looks as what the impact of these executive orders could be. The president s orders over the weekend getting mixed reviews today from economists. In just the past hour, jp more conpublished a report saying, quote, the executive orders could reduce the urgency for congress and the white house could get a more comprehensive deal done. If this is all we get for a f
The university of texas on the pandemic. Of then Michael Morris guggenheim securities. You can only go back in florida. Taking a more circumspect view of whether or not these parts should open. Earnings next week are going to be a big theme as well. A lot of the big tech names are going to be in focus. Lets talk about what is happening broadly in these markets. You mentioned the curve steepeners. The curve is flattening. There is pain in that trade. The u. S. 10year yield has come down. A tight rangein over the last month. S year, we saw the 10 year the range as than 60 basis points to 75 basis points. Equity markets have faded. Im struggling to see where the catalyst is coming from, which catalyst to focus on. How markets are going to progress from here. Lets get help with that question. Yields, theg bond curve flattening out. Equity markets are going nowhere in a hurry. We have a. We have virus. We have elections. Where are you focusing your attention . Thank you for having me. When
San francisco and san jose and low 50s for santa rosa at the moment. 66 right now in San Francisco as we head through our afternoon, 72 oakland and 83 in san jose and 89 for a high in concord. Well talk about that cooldown as we go through tomorrow and ils onthat coming up as well as your holiday forecast. Back to you. This morning, Governor Newsom is expected to tighten stayathome orders ahead of the Holiday Weekend. The recent spike in covid19 cases fueling fears of a bigger surge. Kpix 5s kiet do is live in morgan hill this morning with the governors warning on those big gatherings. Kiet . Reporter good morning. So everyone is adapting to the july 4th holiday ahead of the pandemic. And response that everyone is trying to figure out what to do here. So here in morgan hill, this is home to one of the longest running parades in california. They have now moved it online and its going to be virtual this year. And so here were again waiting for yet another big announcement from Governor N
Youre driving to work is smooth sailing. Right now temperatures are in the 50s and 60s hayward oakland pittsburgh conquered in the low 60s elsewhere were still talking 50s this morning so go ahead and put on the jacket. Later today you will not be what mitt in san jose with some mid 80s still toasty inland. Although cooler towards the coast and the bay side with 60s and 70s there. James. So were seen an increase a steady increase and not only total number of positive cases, but total number of hospitalized patients in total number of patients in our icu news. They are big top story this morning Governor Newsome set to tighten some of the States Coronavirus restrictions in some or maybe all across california. Yeah, that means that plans have changed and there were some businesses that worry a reopening that are not going to open now kron 4 Sarah Stinson. Is live in Santa Clara County with more sara. Darya james im live here at Great America as we know its close but this is usually a pla
H shares in now and hong kong up by. 5 . Pretty marginal gains here in the last half hour or so with it brings us near the top of the 2015 bubble. On the other of the argument hsbc is cutting china to neutral f this rally. Something to keep in mind as we take a breather here from the exuberance weve seen in chinese stocks. One more thing were watching is the hong kong dollar. Now 15. 7 billion hong kong has been injected into the system there. Solid that pair and the renminbi with a six handle for the First Time Since march. The strength of the renminbi certainly helping the equity markets as well. And gold still holding. Some breaking news from sri lanka, the federal bank cutting its lending rate to 5. 5 . Its a big cut, a 100 basis point cut bigger than expected. Economy expanding at a pace of 3. 8 in 2021. Much bigger than anticipated. Lets dig deeper into the ofkets and bring in ahead forpacific thank you joining us. Lets talk about china. Its going gangbusters in the last seven da