Data and their stock sale this week but first, we are just getting the minutes from the last Federal Reserve meeting. It was a major one, consequential. Steve liesman digging through that release right now well give him some time to digest and dig, well hear from him in a minute. In the meantime, kelly, back to you. Tyler, thanks we are awaiting the headlines from the fed minutes stocks are in rally mode right now, as all 50 states have now eased lockdown restrictions in some way lets get over to bob pisani who has more on the markets for us bob . Im dying to hear more about what mr. Powell said in the fed minutes. Mr. Powell has been much more aggressive in talking about the need for more fiscal stimulus. Im sure that will come up in the minutes. Stay tuned for steve ive been talking about broadening in the markets. Were not far from the highs today, but what you want to see happening, the broadening, its happening again today. The banks are up, the transports are up were seeing moves
Power lunch begins right now. Im melissa lee. Donald trump expected to meet with former cia director general David Petraeus later today and expected to meet with mitt romney and senator bob corker tomorrow. The Supreme Court refusing to hear alan stanfords appeal to overturn his 110year prison sentence and the wall street rally is on pause. All three major averages in the red off record highs set on monday. More on the market in just one second. First, we have breaking news. Lets get to sue herrera for the latest. News conference ongoing right now at Ohio State University following an incident that occurred earlier this morning when the campus basically put in place a shelter in place order. Youre taking a look at the live shot by our nbc affiliate. Thats one of the doctors talking about the people who have been injured. This mornings attack initially was thought to be an active shooter. Thats what was tweeted out. However, as new developments come in, apparently it was a planned attac
Using a stock tool that says, yes. Me list yashgs after sulissa go out on a shopping spree. But if you choose wisely, there could be some money to be made. Now using a quantitative tool looks at market action. We looked at past occurrences when the retail etf has fallen 7 or more within one month as it just has. That has happened 12 times since 2009. Now no clear signal for the xrt itself about half the time it continues to lose ground. But we did find some good individual stocks. Now as for macys, nordstrom and jcpenney, they only post rebound gains of 67 of the time. But when they do rebound, theyre good for 2 and 3 average returns sprerespectivel. There are special i dty and dist names. The names are more reliable bouncing back one week after the xrt loses p 7 or more within one month. So look for names like tjx and ross stores. Head over to cnbc pro for more on other parts of the Consumer Sector that tend to bounce back. All right. Thank you for the data dive. Lets get to bob pisan
To that vote. They have turn into small losses for the industrials. Down ten points. Nasdaq holding ton a very slim gain of about 4 at 4847 and the nasdaq is higher by 1. 6 . Lets kick it off with the first of those bs and that is the brexit vote countdown. We are just 12 hours, 59 minutes, 11 seconds away from the vote opening up in the uk. The polls do seem to show rather even split for stay or go. Perhaps the market and the wisdom of crowds is selling more of a stay story. The uk stock market having a great run lately. We pointed it out yesterday. Were up again today. Four days in a row of gains for the uk. The banks doing especially well. Barclays, for example, up 10 over the past week. Some of the other ones, lloyd banking group, prudential have also done very well. Lets look at the british pound. Its been on fire lately. In fact, a few days ago the pound had one of the best days in a decade. As you might imagine, were going to have lots more coverage of this brexit vote you might
The question is sort of the Yellen Dudley more dovish wing of the fomc as to whether or not theyre adamantly opposed here, but the other guys, i think it was about letting the markets settle down and waiting to see if there was anything more serious that the markets were telling us from the recent volatility. But if things have passed and they seem to be quite a bit calmer than they were previously, then i think that group of people we were just talking about are quite comfortable hiking rates. Steve, thanks so much. The markets were already moving lower throughout the last 45 minutes or so because of whats been going on in health care. Theyre going to react to this more in the minutes ahead. Steve weiss, it brings up the question again, if the fed acts in the next month, stocks are going to blow that off . Look, i dont know market can go up if the fed hikes rates . I believe that if we get Everything Else sort of more comfortable, the markets trade up. I just dont think the fed is the