Its season in orlando despite record coronavirus outbreaks in that state power lunch starts right now thanks the banks and the energy are out performing today as tech takes a breather the nasdaq still up 5 in two weeks. Bob has more on todays market were at the highs for the day. Were close to a bit of a break out. Mondays close, which was the high was 31. 79 were five or six points away from that. Why would it be significant if we get over that thats highest level since the june highs we had. Were looking for a modest little break its a good way the close the week out if we can do that banks are out performing havent heard that in a long time, have you its not going to reverse the down trend for the banks but its nice to see a bit of out performance today. Citigroup, jpmorgan and wells fargo reporting on tuesday its not going to reverse the trends thats good reason for the bank woes out there weve been talking about them a lot in the last couple of weeks. We had capital conconstraints
Because of it. And the retail divide continues. Walgreens and Bed Bath Beyond getting crushed today following weak sales updates and the staples names like walmart and costco are higher. The s p 500, were 59 minutes left of trade. Its not there the nasdaq is up 0. 6 . The s p 500 is a little bit lower. Just a few moments, well speak with alpha one capital dan niles about the market selloff why tech in particular has been outperforming and what to do now. Plus, former treasury secretary jack lew will be with us to weigh in on joe bidens economic plan and work from home winner service now, it is up 50 on the year Just Announced a new partnership with zoom. Bill mcdermott will be live to discuss. Another very strong day for the cloud names. Lets get straight toour big story of the day the market selloff mike santoli is tracking the action all day long which does appear a bit better in terms of the losses, mike yeah. This was a day when we sold the rip in the morning and then bought the di
Basically kind of bouncing around. There is a lot of concern as to where this rally can go based on the fundamentals with the economy and corporate earnings. Caroline the economy, corporate earnings, this is exactly what Bloomberg Intelligences Gina Martin Adams has been talking about. The second phase of the recovery will be slower, choppy or. We have real earnings progress to underpin some of these numbers. Today, we got a little bit more betterthanexpected Consumer Confidence data. Taylor driving valuations on the s p 500. One of the first times in a very long time where the s p trading at a valuation is higher than the stocks index. Typically, those chipmakers have been so overvalued. Refocusing back here just on the u. S. Is really led that market higher. Romaine when we talk about risk assets, we look at some of the havens. Gold at one point today traded above 1800. Having one of its best quarters ever. Treasuries have been kind of range bound over the last couple of months. Year
A lot going on in the markets. A lot of focus on the protests, not only in the United States but also london. Lets get to your markets. Stocks bouncing 0. 7 . A lot of focus will be on this deal when it comes to gilead, big pharma this is what i am looking at, crude oil. 40 a barrel. Oil extending the rise. A european stocks dropping as investors lets get to the bloomberg first word news. Francine. New york city is missing its curfew. This as the city prepares for life after the coronavirus lockdown. Minneapolis city council pledges to begin the process of dismantling its police force. Members say they will consult the community. New zealand is ending social distancing after eliminating covid19. It paved the way for resuming normal life. It is one of few countries that have eliminated to keep the virus out. Global coronavirus cases have topped 7 million. The u. K. Is pressing ahead with its twoweek quarantine on International Arrivals despite airlines is saying the move will devastate
For most companies, making a product for which theres guaranteed demand Around The World sounds too good to be true, but a successful covid 19 vaccine promises to be just that. One vaccine shot, or a couple as your first booster, is not going to provide lifetime immunity to the virus, so the manufacturers are set to reap the profits for years to come. Drug maker pfizer reports its earnings later today, the question is which of the drugs firms are going to come out on top, and how lucrative Will Making Vaccines actually turn out to be . Joining me now is Sunaina Sinha haldea, managing partner, cebile capital. Thank you for being on the program. First of all, pfizer, when it comes to its news today. This will obviously not have in todays earnings, profits it is going to make with this vaccine it has come up with this vaccine it has come up with biontech . M0 with this vaccine it has come up with biontech . With this vaccine it has come up with biontech . No it wont. There will up with bi