Earnings walmart going on a hiring spree. Home buyers are rushing for mortgages. Is the consumer stronger than you think . Power lunch starts now and welcome to power lunch, im Frank Holland in for Tyler Mathisen nike hitting an alltime high soaring 9 on a blowout Earnings Report Johnson Johnson also higher on its vaccine progress for more on whats driving the action, lets get over to bob pisani hey, bob frank, we are sitting at the lows for the day, 3,280 on the s p, about where we ended on friday and the problem is this seesaw in the megacaps and workfromhome names take a look at megacap, this is a down day yesterday was an up day. Monday was generally a down day. You get the idea hard time figuring out what the right values or prices this high same with the workfromhome stocks theres a theory out there that these will be beneficiaries of worsening coronavirus cases in the United States, maybe, but theyre starting to split. Theyre not always up on the stays when some start moving on
The market took no prisoners all 11 s p sectors closing in the red. Todays big reversal coming si months to the day from the march bottom is this Market Recovery starting to stall is this a giant warning shot of more pain to come . Tim, what do you say well, weve been stalling since september 4th. We had such extreme, i think, euphoria in stock prices at that point and we continue to kind of suffer the consequences of where weve come from. Todays news was a combination of i get the sense this is more fear of covid uptick you see what happened across europe you see also kevin flynn, our producer, wanted me to talk about pmis because he loves them so much. Here we go those pmis show that some Services Across Europe have ground to a halt the nasdaq, which yesterday hat this heroic run, amazon which moved almost 8 in less than two sessions, a lot of that has been given back the triple qs are down 13 in 13 days i still think 240 to around 245 the nasdaq triple qtf is a leve that keeps this
Call for urgent action. President trump enters the conversation, indicating he may now support a wider stimulus bill. Debates joe biden refuses to push back his next meeting with the president. The white house rules out a virtual clash due to covid19. We have an update from President Trumps physician, dr. Sean conley, about the president s covid19 treatment, saying that the president has been responding extremely well, that his exam has remained stable while at home. President trump has completed the course of therapy for covid, saying the president can return safely to Public Engagements on saturday. The president was just released from hospital on monday evening and his health had risen controversy given the white house was saying the timing of President Trumps last negative test was regarded as private. We are finally getting an update on the president s health and dr. Sean conley saying the president can return to Public Engagement on saturday. Lets turn to the markets with Sophie
Boris johnson sparked outrage. News out ofing south korea. We are getting the jobless rate falling to 3. 2 percent. The expectation was that the jobless rate would come in at 4. 2 percent so this is much better than expected. We are also talking about the sixth straight month of decline in jobless rates. That 270 4000ring jobs were removed in august from a year earlier. We know that south korea has seen its government really boost those job creation efforts not to mention we could have seen domestic demand being held by the Summer Holiday season and more jobs being available. The government pushing for a fourth extra budget. This is of course helping workers and businesses who lost income due to the latest restrictions and jobless rates. 3. 2 . In for august at watch out for what happens later in the following months given we have seen this flare up in virus cases towards the end of august, haiti. Haidi. Haidi pretty dire numbers coming out and we continue to watch what happens when it
You can look at brennan and comey and klapper. We caught them spying on our campaign. This was an illegal act like no other illegal act. This was treason. This was at the highest level of treason. And obama and biden got caught spying on my campaign, using intelligence agencies of the United States government to do it, both before and after the election, so before the election, then after i won, they continued. It is totally illegal activity. But as far as pamela is concerned, shes a big tax funds, a big slasher of for our military, and shes got a lot of difficult things that shes going to have to explain. Plus she was very nasty to one of the reasons that surprised me, she was probably nastier than even pocahontas to joe biden. She was very disrespectful to joe biden and it is hard to pick somebody that is that disrespectful. She said things during the debates, during the democratic primary debates, that were horrible, about sleepy joe, and i would think he wouldnt have picked her. Ye