Louns lou announced he is stepping down from his ceo role. And scott minerd will tell us why he doesnt think investors should be buying just yet. We have josh here welcome back to you. Interesting dichotomy setting up in the market. The stayathome stocks versus the gooutside pelaton was just hit on power lunch and netflix, zoom, are all outperforming and the goout stocks, the restaurants, the ubers are all getting hit. Theres the pocket of green there. Yeah. Look at live nation they do concerts. Yeah. Theyre thinking people are not going to go out if and when coronavirus comes here in bigger numbers. So the thing with that is that the danger with that is buying into a narrative because the narrative could be popular for two days and then all of a sudden it goes out of favor and people are like what was i thinking why do i own this stock . Because i think people are going to sit home . However, i do own zoom and another name thats been ripping, teledoc this is virtual doctors visits im
The industry, could it mean less traffic for the malls and Shopping Centers where the theaters are located theres already signs of weakness with one of the largest facing a cash crunch more ahead. Move, movers and gainers in the retail space with deckers, the maker of ugg, up 13 right now. Ross stores up 9 , surging after results. More names next week, including costco, best buy, and gap. Two big moves in the pharma space. Merus soaring 30 on promising results for the melanoma drug. Immunocore dropping despite its own melanoma medication. Burger king, owned by restaurant brands, is offering its own 5 value offerings to contend with mcdonalds recent rollout. Could this be a pricing war . Well have more later. Lets begin with the markets, overall higher today after yesterdays divergence left investors a little puzzles. The dow recorded its worst session since march. Nvidia gained 9 , not to mention nvidia, alphabet, microsoft, they were responsible for nearly all the s p 500s growth this
The oil markets. First, stocks kicking off the first trading day of the new year on a high note. And if the january effect plays out, todays gains could be a positive sign for 2018 bob pisani here with the story bob . Reporter yes, just a lot like 2017, some of the big names are moving today semiconductors doing well. Lot of interest in that. We see Retail Stocks doing better we see energy doing better heres something curious, the banks are not participating in the rally. I find that interesting given that the ten years been moving up utilities have have been a loser for a long time. Thats no surprise here. Look at some of the big banks. Come over here citigroup here down 0. 4 on very light volume most of the big banks, regionals in particular are down fractionally not a great month, frankly, if you want to look at january. We asked our friends to take a look at the last five or six years in january it tends to be a down month. Nasdaq and the s p and the dow industrials all to the down
4 . A drop in inventories this week. And also a drop in the number of drilling rigs hoping to push that commodity higher. Its another down day for the transports. The airlines are bouncing back and weve got the ceo of Spirit Airlines here to talk about fluctuating oil prices and capacity are impacting his company. He looks spirited doesnt he . Ben baldanza. Talk of yet another deal shares of Health Insurer humana have been on a tear in the last hour or so that the company has put itself up for sale. Theyve had interest expressed to them by some rivals. Theyve hired Goldman Sachs and the mating dance begins. The stock up 17 . More details on this story, coming up. Its still breaking right now, as a matter of fact. Big implications across the Medicare Advantage space, of course for the Obamacare Exchanges as well. The dow is down to close out the month, 113 points, just above 18,000 for the time being. The s p 500 down about 12 for the broad index there. That nasdaq actually the outperfo