Good afternoon. Im Tyler Mathisen right now you can see the industrials up around maybe a tenth of a percent very small moves for the s p, nasdaq and the russell as well today. Utilities in health care, they are leading the way. Energy lagging today good day for semistocks, amd, applied materials. They are among the s ps top performers retail moving, too ross stores, home depot, all hitting lifetime highs but it is not completely pretty in the sector youve got macys, coal, lbrands and nike among the s ps worst performers. Caterpillar is up there so far this year. A great year for stocks. Unfortunately for investors, that is not normal, its not even the new normal and bob pisani, some of the things that made it unusual and we get back to a more normal performance in 2018. Hi, bob. The question is reversal to the mean they say 2017 cant happen again, but why not many traders say we cant have 20 returns in the s p because its just not normal look at the average. Its about 8 since world wa
Welcome to power lunch. Im michelle carusocabrera. Melissa said strong rally to end the week, the dow, s p 500, nasdaq, russell 2000, dow transports all hitting record intraday highs look at the Dow Jones Industrial average, dow 25,000 is so last week were 250 points away from dow 26,000 second straight week of gains, check out soft om movers within the averages amd downer today taking a hit. The company says its chips are susceptible to the specter security flaw. Its off 1. 5 . That flaw lets hackers steel sensitive information. Gamestop tanking about 10 retailer posting strong holiday sales, however, they took a big charge on iphone x related problems first ipo of the year, first energy ipo of the year Liberty Oil Field Services Soaring about 30 on its debut today. The ceos going to join us in just a few minutes tyler. Michelle, thank you very much welcome everybody. Im Tyler Mathisen lets tell you what else is happening at this hour the National Retail federation says holiday sales
Lunch. The crypt o hits the fan im Tyler Mathisen the dow down and off to the worst week in two years. Energy is getting walloped apple shares on pace for the worst week in more than three months bond yields, this is the story, folks of the week. Maybe the story of the year. The 30year bond yield now above 3 highest level since march. The benchmark ten year jumping to a fouryear high above 2. 8 Steve Liesman is the man and he is joining us for the hour thanks, tyler im steveliesman we begin with the market, selloff concerns about Rising Interest Rates a big reason why. Bob pisani is at the New York Stock Exchange where weve just crossed the down 400 park. We bottom but the bad news is were not rising were sitting near the bottom and paralleling the 10year yield. We hit the highs about 2. 85 that was about 10 00 eastern time and that was when the market essentially stopped going down you could see it moves sideways. Take a look at the s p 500 and weve been moving sideways since 10 00. B
Nearly 3 hitting 48 a barrel again, first time in two weeks. Well debate whether you should buy oil stocks on this crude comeback. Justice department announcing plans to end the use of private prisons and shares of the two largest private prison operators just getting crushed today on the news understandably. We have the latest details on that story and whether that industry can survive. I mean, the shares down almost 40 . Theyre losing almost half their market value on news just out this afternoon. Exactly. Tesla model s in flames in the test drive in france. Nobody was hurt. Pretty amazing images there. But the news is raising a new round of questions about the cars safety. Well tell you what tesla is saying and impacting the stock. Starting with walmarts earnings. An eye opening beat. Courtney reagan, wow quarter for the Worlds Largest retailer. Yes . Yes. Investors werent sure what to expect from the Worlds Largest retailer and walmart did beat on earnings. Walmarts revenues beat,
Today encouraging the uk to stay in the european union. Former Central Bank President will join us with his reaction coming up. Valiant shares spiking on reports the company could have a new ceo. We have more coming up. Lets begin with the big earnings themes. Mcdonalds and tech, seuwere looking at the impact of tech earnings on these markets. Lets start with the industrials, bob. Three big industrials, all with modestly more positive commentary. Focus on that. I want to start with the ceo of General Electric. Conference call this morning came out. He acknowledged oil and gas was challenging. He went on to say aviation was showing strength. Healthcare was rebounding. Thats a strong word and china was showing improvement. Plenty of business to achieve our goals. This is more positive than a few months ago. Lets move on to caterpillar. Sales declined. But the ceo came on air this morning and said overall i think were close to the bottom. Thats a positive comment. This company has seen de