The dollar index just below 97. Crude oil rallying 2 today on stocks going higher. 87. Arrel of wti 37. Lets get more on the markets. Scarlet fu is with us. Scarlet jay powell testifying before congress for two days of discussion, stuck with his message that the economys path is uncertain. We have seen indexes come off of line isghs but the positive. You look at the industry groups, 20 groups are higher. Within the dow, 29 out of the 30 names are up. In terms of leaders, caterpillar, boeing. The white house is preparing a 1 trillion infrastructure proposal. Up 4 frastructure etf right now reflecting higher demand. Retail is up after a record gain in sales. A lot of retail names are heavily shorted, so you could be seeing a short squeeze as investors rushed to cover their bets. All of it comes back to fundamentals, like earnings. Morgan stanley talked about the disconnect between the optimism out there and the bottom line. Andgap between the s p 500 as aftertax profits has soared to rec
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
Likely it is that huawei will get those licenses and the department of commerce wouldnt say specifically they wont get any licenses, they said they will review those on a casebycase basis you can imagine given the administrations crackdown now its going to be difficult for huawei to get any of these licenses from the United States to use this type of technology back over to you. Eamon, its jon what this seems to me to be is something that introduces a lot of uncertainty into the Semiconductor Industry in general. I mean if you look at chip equipment suppliers, if they cant supply technology to one of their major customers, that has an impact on their ability to make money. It has lots of follow on implications down the line is it your sense that the administration is taking an initial stance and looking for room for flexibility and to negotiate or is this something theyre going to push forward in the Semiconductor Industry has to brace for well, we dont know for sure, jon. This is a pi
That retaliation comment that mentions boeing. Did not mention apple, but apple is acting terribly did not mention Applied Materials. Had a great quarter, stock reversed badly its a surprise. I dont understand whats happening with boeing. You have this you have the ceo, who is blasting the clients, then you have china who doesnt want boeing, and a queue for boeing planes that is dissolving i dont like anything im hearing about boeing nothing. You mentioned the editor for the global times, he does say based on what i know, if you block further, we can add you to the unreliable list, and he says qualcomm, cisco, apple as well as suspending the purchase of boeing planes. This is terrible. The china haters and china lovers should look at our retail sales and say, you know what maybe we have to shut up a little bit here. Maybe were not as strong as wed like and we should hold out until were stronger ive been the hardest line on china. Everybody knows that im harder than peter navarro. But t
Congress is negotiate its next round of Coronavirus Relief for the economy and weve seen a stunning move in oil crude was higher by 2 now down 9 as we await the final details out of the opec meeting. Energy sector now word on the s p. Yeah, been a real reversal there. Coming up on todays show, dan niles tweeting a warning about the rally. Hes going to join us with the risk he sees at these levels, plus, well speak with max levchin. Well ask what his micro loan customers are buying amid the shutdown and his read on the state of start ups right now lets focus on the big stories were watching today though. Steve liesman has detailes on te feds big moves and kayla is following the battle for more stimulus on capitol hill but steve, were going to go to you first to talk about the fed. Yeah, morgan, just quick moves the fed has announce nd the last hour. The its reduce uing the purchases of treasuries and mortgages. Treasuries down from 30 to 50 billion a day. Down to 15 from 25 apparently,