Drop coming up on todays show, were taking a look at how a number of Different Industries are getting back to work in america. Well talk hotels and travel with the ceo of best western plus, walter rob, the former coceo of whole foods will weigh in on grocery trends and well talk about the state of the consumer lets kick things off with a Broader Market a choppy day to kick off the trading week pretty positive. Right near the session highs as we stand on track for a record close for the nasdaq composite actually kind of a quiet levitation out there the average stock not doing much of anything. Volumes are low. But v but the Growth Stocks are powering higher. You see a one year of the s p 500. Its about a couple weeks ago that the enthusiasm for that reopening really seemed to crest for a little while since then, the old Growth Stocks, if you look at the top of the dow right now, its nike, apple, walmart, visa, microsoft. These are the days when the observation that Great Companies remai
Thanks. The dow giving up its early gains. All three of the major averages are lower. Bob has more on these markets. Bob. Were threatening to go positive here late in the day. I want to show you though were down a bit, the sector lee leadership is still intact russell 2000, another good bay banks stronger and retail keeps going up i keep getting asked about this retail rally were seeing. We get these nice moves every day and some of the retailers, the macys, they are still 50 off of are they were in february these gains, yes, they are there but still big, big declines. New highs, were not seeing a lot of expansion waiting for break out is not really happening e bay and paypal, winnebego hit a new high thats interesting here. Lets talk about whats moving the market remember the buckets we keep talking about. The important thing is the reopening is still going well. The recent economic reports, the ism, the stimulus. Were hearing more from the ecb, more from u. S. , more from japan. Ther
The close even though it had been there intraday. Beenrange chart we have looking at for months, weeks, it is starting to turn bullish. The range between roughly 2600 and 2800, all back to the since the rally stalled, we have been stuck 3000. To between 2300 and note the higher lows. Theof them put in just over next few weeks or so. The rising moving average tells you that the trend is up. The longterm bulls are supporting the market. Making alike it is break to the upside. Should this work, we could see the s p 500 climbed toward maybe even 3200. Again, this chart is starting to turn bullish, maybe suggesting that the earnings season will remain positive. For me continue to be on the chipmakers. You have seen some relative outperformance recently. Closing up about 2. 2 percent. A lot of Underlying Companies driving this. An 11 monthng high. Other Companies Like intel, which have exposure to apple, keep pushing it higher after we hear about strong iphone 11 demand. If you take a look a
Tenyear note at 4. 556 . Twoyear note at 4. 927 . As you imagine in the energy world impacted by this. Wti crude is not impacted much. Check out crypto. For you trying to watch what the markets may do over the weekend as people were focused on bitcoin since it was trading as the strikes were taking place. 6 66,609. What was the low, mike . Low 60s. I was actually on twitter trying to understand the maneuverings because of the thesis, if you will, around what bitcoin should or should not be in this moment. It doesnt conform to anything lyinearly. This was pretty well telegraphed. You have the broader context which is typically an expected potential escalation of geopolitical conflict is not the thing to really drive the next weeks and months in markets. I do think markets are dealing with other stuff. Right now, a little bit of pressure is taken off because doesnt look to spiral. Oil is in the lied. Lead. The other part of it is were only getting back at the open if this is how it stand
And welcome to power lunch. Im melissa lee. A winning month with a losing day. The major averages lower across the board here. We did hit record highs with the nasdaq and dow jones utility average before the markets went lower. Crude oil, meantime, hitting threemonth lows. Traders are worried the opec led cuts to reduce global inventories are being undermined by those outside of the deal. Financials, big hit here. Regional banks on pace for the third consecutive day of losses. Im michelle carusocabrera. Here is what else is happening this hour. New york times offering buyouts. The move aimed at cutting the number of editors in its newsroom. Contracts to buy previously owned homes are falling for a second straight month amid a supply squeeze. Jetblue launching its first of its kind selfboarding Program Using facial recognition software. More on that intriguing story ahead. Brian . Michelle, welcome back. Well, if you are just a casual market observer, you probably know the stock markets