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Speak in some form of the w. H. O. Conference. Theidea of recovery in united states, all of Global Finance transfixed the chairmans comments last night on 60 minutes. Francine 100 . The chairman is talking about the virus, so we will have a look at this second wave of infection and what it will look like. Lets get to first reduce with ritika gupta. Ritika good morning, francine, tom. Jerome powell says the u. S. Recovery could drag through 2021. Powell told the cbs news program 60 minutes the economy will recover steadily through the second half of this year, but he said a full recovery depends on people being confident, and that may not happen until a vaccine is available. It is the first meeting of the World Health Organizations governing body since the coronavirus outbreak began. China will be challenged on two of its most sensitive issues, how beijing first ha ....
Some things like construction and drive in movie theaters. We are seeing flareups in south korea as well as wuhan, the original epicenter of the coronavirus outbreak. I want to bring in taylor riggs. Walk us through the day. Again, tech boolean the rest of themarket tech buoying rest of the market. Taylor for a few weeks, tech has been the big outperform the dow and s p are still lower. The nasdaq 100, the faang, all of those are the outperformance. Bige are a few individual tech stocks leading those. Amazon, a report that potentially they were in talks entertainment and zoom, the company we have got to know well. People think offices may not open up until next year. Ready to stay home through 2020. Nvidia ended up about 3 . They hit a record high after a raising the price to 3. 60 per share at needham. ,f course, on the data side increased demand for both public and private clouds. That is something that is driving that business. Continuation of tech heavy stocks really are performing ....
Chart for the markets. Obviously we would start there, thats what dan nathan is calling this stock so dan, why dont you walk us through what this is and why its so important to investors lets talk about jm porgen. This is a best of breed bankheading into the crisis. The stock was trading at an all time high. There were a lot of investors out there in january signaling this is a chart representative of the economy that were in, prepandemic, i just have to tell you, this thing has acted pretty horrible on the way down, its down 35 on the year, and that is relative to the s p 500, down less than 10 on the year. The balance off the lows in march was fairly anemic relative to the s p 500 whats important is that investors seem to be focused on the stocks that got us here prepandemic. We know that it was the maga, the microsoft, apple, google and amazon its the bank stocks that are important to look at here. They touch parts of the economy that are going to struggle over the next few quarters ....
Baseball is looking at an 80game season starting in july. Football arrives in september. Disney allowed, what, onethird capacity at its shanghai park and it sold out. While lockdowns continue, they are being challenged most notably by elon musk. Wasnt to op he wants to open his tesla plant in california. The Authorities Say no. Hes going to court and says he will move out of state if the factory stays closed. As for the market, that will open lower. Solid gains recently but a pullback so far this morning. The dow is looking at a loss of 270. The s p down about 30. The nasdaq off about 72 points. Lets get to politics. Big week for that. It is trump versus obama. General flynns lawyer says the plot to undermine the Incoming Trump administration was launched in the white house by outgoing president obama. President trump calls it obamagate. Theres a lot more coming on that one, ....