Well tell you why traders are betting on an even bigger run. Later, airlines lower as they prepare for what could be a slow september the former ceo of continue nenal airlines will be with us to explain what the new normal may mean for travel stocks kelly evans is back. Welcome. Power lunch begins right now its the s p 500 sitting close to its record high now the wild market ride has brought a resurgence of the retail trader bob and kate are standing by with more. Bob, lets start with you in these record highs we are on new high watch and for the s p as well as the nasdaq and whats brought us there, thats a very familiar pattern. We have seen it many times its essentially Technology Stocks thats with megacap stocks moving on the upside sectors, its technology thats been leading the way we see banks, energy and industrials lagging there. We had many rallies in those cyclical value names banks, the energy and the industrial names over the last few months in various occasions including ab
Indepth look at our top stories and then i was. Everybody. This is the kaiser of port au. Max this is the last week that i am allowed to wear white according to the Fashion Police so you know when labor day comes up were not supposed to wear white after that. So im going to wear as much white as possible hopefully im not blowing your eyes out you look like the good humor woman. Delivering i scream in the good good humor woman truck thing dingle well you know what theres a lot of looting am plunderer going on and we have to refer to the quote from frederick that we refer to all the time as this is something weve warned you about for a decade now and its really really coming true frederick. Said when plunder becomes a way of life for a group of men in a society over the course of time they create for themselves Legal Systems of warning there you know looting begets more looting of becomes institutionalized becomes accepted at the top and then you have a class of people that come up with
Loot because somehow like we cant talk about the bigger systemic issue like the looting from the top the Central Banks then the private equity and then the banks and then all this like lets target our fellow ordinary shmucks citizen because thats the only person we have power over we can throw rocks and destroy their business it gives us some sense of of closure of fulfillment that weve done something because we cant touch best as we cant touch the system we cant touch the financial or Monetary Systems well i think theres also something going on here in terms of the left is sensing a loss in november election and theyre trying to cause trouble theyre stirring the pot and theyre trying to get a little bit of a civil war going that they can blame trump for that and but one way to do that is by saying its ok to loot the Small Businesses and that is thats. The common men. To stir social unrest looting and violence so thats what the left is up to now and by the left we have to include folks
Poisoning. Lets get to the first word news with leighann gerrans. Shows joe a new poll biden has a doubledigit lead over President Trump. Ae democratic nominee has 5242 advantage. Meanwhile, the survey also says in theden has a 6 lead battleground state wisconsin. In germany, chancellor Angela Merkel is now ready to link the nord stream 2 gas pipeline the poisoning of a russian dissident. Merkel, whoift for said that the russian backed pipeline should be completed and remains a separate issue. The kremlin has said it sees no issue that germany will block nordstrom. Moscow has denied any involvement in the poisoning. Now in hong kong, protests have resumed after weeks of calm. Police arrested hundreds of people. Among other things, demonstrators were protesting the decision to delay Legislative Council relaxants for a year Council Elections for a year because of coronavirus. India has surpassed brazil as the second worst hit country. India reported more than 19,000 cases more than 90,00
Deal to buy the company could come in next few days and theres a third bidder enter the fray walmart, wait, what. Thats right we have the details walmart entering that one. The sports world at a virtual stand still. The nba pauses playoffs to put a spotlight on Racial Injustice in america. The Houston Rockets owner will join us. Well talk about that and the hurricane as power lunch starts right now thanks stocks are giving up sol me of their early gains. Bob has the latest for us. Banks and health care are leading but most Everything Else is down. Sell off in the middle of the morning. That as an attempt to take some profits on tech stocks these sell offs dont last long. Look at the triple q here in is the nasdaq 100 at a new high its a rule here it goes up for four days and maybe down one day we have seen this for a couple of months now. Here you see the teams to sell it off it doesnt last very long. Theres been a lot of people arguing, look at the megacap tech names its time for a pa