And welcome to power lunch. Im melissa lee. Check out this rally right now all 11 sectors are in gree green. Taking a look at some of the stocks were watching. Salesforce is under pressure for the second day in a row, down about 7 in the last week as it gets set to report earnings after the bell and reportedly to make a deal. And we have exclusive data on how the bitcoin boom is boosting this payment stock first lets get over to bob for more on todays rally. Hey, bob hello, melissa. Good start to a traditionally good month we got talk about a new stimulus plan, janet yellen on the air and, overall, 11 sectors all on the up side. Bank stocks leading the way but technical stocks also. No dig selloff in tech that was also a november play there. Theres energy you have your value play with banks, energy up you have your growth play with tech, cyclical with industrials up and even more defensive groups, Consumer Staples on the up side as well. This is what i mean when i say the goldie locks
Runs here. They were safe bets and safe harbors in the middle of that whole virus storm. Apparently proving that even after the fact right now. The point in the selloff, everyone was abandoning stocks, no matter what their business prospects, how many regret doing that now . Knowing that all of those issues have come storming back, in fact race to highs beyond their old highs. And, look at the dow, look at s p 500. Even with the selloff here, five, six Percentage Points away from alltime highs. Not too shabby. A lot of this is built on optimism, today notwithstanding about the reopening of the economy across the board despite more than a dozen case reporting spikes in cases, most say the spikes are manageable. That is really in the eye of the beholder. Jackie deangelis breaking down what were looking at. Reporter good afternoon, neil. You point out the nasdaq is moving higher but the rest of the markets are pulling back. You have the push pull here as market moved high as you know, inv
One famous wall street name. We will get the very latest from the white house. And the daytona 500 overshadowed by a final lap crash that sent ryan newman to the hospital right there. There goes his car. Also sent denny hamlin to victory lane. The man of the hour himself will join us in moments on his second straight victory in the Great American race. Incredible stuff. Less than an hour now to the closing bell, im Ashley Webster in for liz claman. Lets start the claman countdown. Ashley all right. We have this fox business alert. The jury has just returned from recess during day one of deliberations in the Harvey Weinstein case. The jury made up of seven men, five women. Weinstein is accused by two women of rape and criminal sexual acts. Weinstein also facing two aggravating counts which could keep him in prison for life and of course, we will bring you all the latest developments in this case if the jury returns a verdict. Thats going on right now. Well, as the markets search for dir
We bring you todays market moving news from around the world. Our bloomberg voices are on the ground with this mornings top stories. We want to begin with china. The government has agreed to cut import tariffs on a wide range. F goods joining us is stephen engle. Break down what we know about the tariffs, why now, etc. Stephen this comes fresh after a trade one agreement a phase one trade agreement. A gesture, yes, to show its lowering trade barriers, but it also wants to spur domestic spending for those 859 products he mentioned, from smartphone parts to food, in particular, frozen pork. All of these products will enjoy lower tariffs, and it comes as china hosts a critical trilateral summit this week that has already kicked off in beijing between china and japan. South korea will also take part. Trade, territorial disputes, military maneuverings, of course, exacerbated by north thoses posturing, and all historical animosities still persist. So those talks should be welcome. Been korea
Was. Called. Arrested for corruption we are. Actually the way forward to solve africas energy crisis. Production instead of 20000000. 00. Backers. And french president obama travels to west africa to discuss the future of the save our currency. Should it. Come to business. Africa your updates on todays african and Global Business news here on the us welcome. South African Police have arrested 2 former executive at embattled power utility eskom theyre charged with fraud corruption and Money Laundering in connection with new power plants that are supposed to alleviate the countrys electricity problems south africas grid nearly collapsed in 2008 and eskom has had to enforce rolling blackouts ever since in a bid to relieve pressure it is causing chaos for the country and the economy the contracts involved in the allegations are worth around 50000000. 00. But africa has the worlds slowest electrification rate in an unstable pas applies constantly hampering businesses all over the continent