joining us, abigail doolittle. abigail: a lot to digest, and you nailed all the issues. big piece of it has to do with the big xl off, but the rising tensions with china have been

we start with abigail doolittle and a report on the markets. looks like nobody wants to go anyplace anytime fast. abigail: i would agree with you on that. relatively small declines for the major averages after the gains we had yesterday. right there, a lot of uncertainty and waffling after last week. maybe a bearish tilt to all of this. what investors are waiting for, so many different factors. of course tomorrow we have the big tech hearings. we also have the fed. earnings over today, tomorrow, and thursday, each day, 10% of the s&p 500 companies reporting. on thursday, it is apple, amazon, alphabet, and facebook. about 40% of the nasdaq 100 in weighting. investors want to know what is happening. gold going back higher as the dollar is lower. some of the trends we have seen more in place recently are still

helping us break it down is abigail doolittle. igail: we are looking at a bit of a tale of two stories between earnings winners. it is shipping up the way most thought it would. we have energy and some of the other consumer names that are actually losing. after those winners let's start off with amazon and apple. they put up huge quarters and are being rewarded with the stoxx up in both cases getting sales estimates by about 10% each. adjusted earnings beat by true double digits. here is the fact that apple actually met it pretty pandemic estimate. this is confirming those big tech names are thriving through the pandemic. chevron on the other hand reporting the worst loss in three decades. two times worse than what they were looking for. also sharplyis lower. they beat sales estimates but were down 31% year-over-year. they also warned that the second half will be down. surprises, sector tech and consumer discretionary beating by the most. on bottom we are looking at energy missing by 15%. utilities by 8%. to some degree. the s&p 50

we will start with abigail doolittle. abigail: stocks are doing pretty not -- pre-much nothing. up .2%. if the index does close up, it will be the fourth update in a row. that would be encouraging. we are seeing weakness for the stay-at-home stocks. the faang stocks down .3%. not a huge move. when we are seeing bigger moves, we have u.s. china tensions flaring backup. one of the china stock etf's in the u.s., basically chinese companies listed in the u.s., that index is down 2.1%. that is the only area where we are seeing tensions. it is amazing to see markets look past the developments. if it had

here's abigail doolittle with around up. there is a tale of two stories between these tech giants, microsoft trading lower twitter is higher. microsoft beat top and bottom line estimates by double digits, but their cloud business disappointed. revenue, butd ad their daily users group. as for the cloud business for microsoft, it is moving in the wrong direction over the last several quarters. but what is amazing, investors are disappointed by the cloud business. this idea that that is disappointing is stunning, but on a down sequentially year-over-year basis, so investors selling off the stock. up more than 30% on the year. as for twitter relative to that daily user growth, the second time we are looking at a record in a row. in the june quarter growing by 34% after the march quarter. it looks like the lockdown on the shutdown very positive for twitter as folks want news and entertainment. looking ahead to after the ballot, we are looking at the intel reporting for chip companies. in topodel to grow both and bottom line estim

joining us, abigail doolittle. abigail: a lot to digest, and you nailed all the issues. big piece of it has to do with the big xl off, but the rising tensions with china have been the backdrop for the past two years, but really coming into the forefront here. and economic data, frankly, not right. investors are paying attention to that. you put it together, nasdaq 100 down .9%, down on the week for the second week in a row. stocks hit even harder, down 1.6%. what intel really disappointing, at lowe's down 18 per soient, worst day at that point since 2000 to one third quarter guidance for that chip to let you talked about, and also the idea that manufacturing of their trips could be changed. we had investors going into a haven asset, let's call it a haven asset today, gold, above $1900 for the first time since 2011. so risk off for sure. i mentioned the nasdaq 100 down on the week, that is true for two weeks in a row. we talked about this last friday, emily. last week the nasdaq fal as the -- nasdaq fal as the dow key 500 climbed and the last time we saw that happened was

abigail doolittle is here. seem to have been really a little bit from the gdp numbers, even though we've expected them. are they recovering? abigail: a little bit. poor economic numbers to say the least. thegdp number down 34%, worst since 1947. better than estimated, but it demonstrates the idea the thatmy came to a halt in second quarter, hit very hard, not just the gdp numbers, also the jobless claims numbers elevated for a second week in a row, a little bit better than estimated, but nevertheless 1.4 million people file for second week in a row. stocks taking a hit but you can see the naaq

let's check on the markets with abigail doolittle. yesterday was all about tech, today is all about energy. abigail: it is amazing these big moves we are seeing in all sorts of directions relative to sectors and styles. yesterday we had the huge monster rally for tech. out of nowhere last week there was a drop. today we have tech lower and energy up nearly 6%. we have the s&p 500 up .5%. what is interesting is yesterday up .8%. even though only three sectors were higher. higher,st sectors are but we have a smaller gain because of the weighting of those sectors, energy materials, on down the board. the tech heavy nasdaq is down .8%. this has everything to do with its 46% waiting to apple, amazon, microsoft, facebook, and google. we are seeing the worst case fear on the part of investors that if those names go down it will take the market. we are seeing that split between the s&p 500 and the nasdaq. small caps getting a bid, which did not happen yesterday. david: speculate with me. how much of this is the real world? we have the big euro

to break it all down and talk about how this hit the market today, bloomberg markets reporter abigail doolittle. talk to us about what drove the drove higher than sharply them back. abigail: a big aeration reversal having not so much to do with the virus. 500, the s&p&p 500, the highest level out of the air market. the bigger show was for the tech space. the nasdaq at one point up more than 2%, closing down more than 2%. those indexes so tightly wound, record high after record high, including today. overbought, overextended. there were also some headlines out around the u.s. and china that seemed to help the selling pressure continue. with that, we had bonds trade higher. if you take a look at it on the day, netflix a perfect example. today, earlier today, netflix had been up about 4%, closing down 4%. expectations to put a good quarter up. for interesting, investors and traders have been rushing into stocks, rushing out on these overextended and overbought conditions. so, let's talk a little bit about the broader scheme here and the impact that these rising cases across the country are impacti

abigail doolittle is here. it feels like an indecisive summer day. not a lot of direction. abigail: certainly a quiet saturday -- a quiet summer. we are looking at stocks fluctuating in the u.s.. we have some outperformance with biotech index, and that has to do with goldman saying moderna's vaccine may be able to be accelerated in some ways. it is being discounted. that is helping out that area. where we see weakness is the theg index, down .9% in weakness around netflix and other big cap techs. fluctuating between strong gains and losses. in the week it is a different story and a different story from what we have had over the last few weeks. we have had the s&p 500 higher for the third week in a row. we have the nasdaq down. the first down week in three weeks and a lot of that has to do with netflix having its worst week since 2019. they put up a disappointing quarter, messy second quarter but weighing on the stock is the subscriber view for the third quarter. an important peas of information comes out of that netflix result and what is happening with that stock, down 11%,

we start with the markets in abigail doolittle. we are not getting a lot of lift with equities and how much of that is the jobless claims that through people a bit? abigail: that is a big piece of what we are seeing today. even though the lines are small, earlier the futures had been higher and we are looking now at small losses. that was after the jobless claims number came out at 8:30, the first time we saw a rise since march. investors connecting to the idea that the recovery could be bumpy at best. that is what that number would suggest. at this point the s&p 500 down slightly. the nasdaq 100 down more significantly, about .7% as some h,,the big tech names weig particular microsoft. they beat numbers in a big way. the cloud numbers disappointed, if you can believe it they disappointed with 47% year-over-year growth. growth is slowing so investors want it perfect. twitter is popping sharply higher. up 8.5%. there ad revenue number slid but what impressed investors is daily user growth, record for the second time in a row, up 34%

return to abigail doolittle. stocks are up, but i wanted the bigger story. what is going on with the dollar? abigail: the dollar is a huge story today. rick to have you back in studio, david. relative to the dollar it is absolutely getting decimated. a 10 year uptrend of support barely hanging on. all sorts of cross-asset ripples. we have stocks well-off highs, but we do have gains for the major averages. the s&p 500 up .3%. the nasdaq up about .7%. index has beenng higher. all of this as old is surging and the dollar lower. a dangerous relationship here. all eyes on the fed on wednesday, how they are going to handle all of the different relationships. when you have money, that weak dollar, has fueled stocks going higher and old going higher out of the march highs for the dollar. investors turn to the precious metals and gains for stocks cool off, it creates an interesting relationship. david: exactly. it is hard to imagine the fed is going to say remarks that is going to strengthen the dollar. maybe there is no alternative to stocks. abigail: in terms of the

abigail doolittle is here. the market seem to have been really a little bit from the gdp numbers, even though we've expected them. are they recovering? abigail: a little bit. poor economic numbers to say the least. thegdp number down 34%, worst since 1947. better than estimated, but it demonstrates the idea the thatmy came to a halt in second quarter, hit very hard, not just the gdp numbers, also the jobless claims numbers elevated for a second week in a row, a little bit better than estimated, but nevertheless 1.4 million people file for second week in a row. stocks taking a hit but you can see the nasdaq has recovered. one interesting thing is we finally have a little bit of strength for the dollar after the fed yesterday in a while range, now slightly higher. this is tampering gold. a gold rally is on pause. not a strong risk appetite on the day to say the least. david: at the same time, we had the big tech hearings with the four ceos getting beaten up. we had some big earnings today. does it look like tech m

joining us to talk about how an impacted the markets today, abigail doolittle. a bullish day again. to us about why. abigail: it was a bullish day, but lifted the lid just a little bit, emily, not everything was as constructive as we may have hoped. we did have the major averages except the dow, which finished down slightly, having a surge. the s&p 500 up for a third day. that is certainly positive. some of it might have to do with the better-than-expected i is some numbers. stock futures came off the low, telling you that traders love it was better than expected. on the other hand, stocks down sharply. russell 2000 down 1%. uncertainty around the virus and what it will meet for the economy and the situation in the u.s. one way to look at it, state-owned sector versus cyclical. if you look at the nasdaq versus the s&p 500, the nasdaq at the all-time high continues to lead the way, whereas the s&p 500 is lacking. someone call that a bearish divergence, suggesting that could be trouble ahead unless the s&p 500 catches up. some are saying this is the new dow theory, needing to see both

good abigail doolittle. i did not see a lot of conviction one way or the other. abigail: similar to friday, another relatively slow summer day. bigger moves in different pockets. a reversal of what we saw last week. last week we saw a lot of the big tech names selling off driven by netflix results and anticipation of that. today we have tech outperforming. the s&p 500 up .3%. 1.7%.sdaq up the tech index on fire. we also have the discretionary sector sharply higher as amazon has its first update in roughly six days as goldman sachs raises their price target of $3800. on last week strength, the industrials, we are seeing weakness there. what is interesting, if i'm looking at the bloomberg terminal, most sectors are lower. why we have the major averages for the s&p 500 and the nasdaq higher is the huge waiting to tech that today is doing higher. in 2020, that is the new defense, the stay-at-home trade of tech and consumer discretionary. david: whoever thought tech would be defensive? thanks to abigail doolittle for that report on the markets. coming up, how worried s

we have abigail doolittle. choppy. one of your favorite words. it applies to today. abigail: earlier on the open, up and down. right now mixed. we've the s&p 500 and the dow a bit higher. while the nasdaq 100 and the new york faang index are doing less well. in the red. yesterday we had a dramatic reversal for the new york faang index, at one point up 4% then down 3%. that index has been on fire out of the march lows. that stay-at-home trade investors going into it. a bit of an unwind. we had the financials pushing slightly higher but a mixed picture for the big banks. jp morgan putting up a great quarter despite a large loan reserve loss. that was the case for citigroup and wells fargo. wells fargo a bad day as they put up a disappointing quarter. the first loss since 2008 and they cut their dividend from $.10 from $.21. a choppy day in a choppy time. david: we are also getting mixed messages about the coronavirus. yesterday it seemed like the news coming out of california may have triggered some of that happening. why would that hit the faang? i thought if we had mo

abigail doolittle is here with the details. igail: a topsy-turvy morning here, francine on earnings. if we start in the energy and materials phase, we look at the arners including free port mcmaran missed sales and the c.e.o. saying the virus will forever change the way they do business and they're optimistic over the long term thinking copper prices will go hauer with cuts that equal growth but today the copper prices are lower probably dragging on the shares. moving in the opposite irection, we have schlumberger posting higher with a surprise profit coming on cost cuts as they slashed 21,000 jobs and going the opposite direction of oil. so an interesting mixed picture there. as for some other shocks moving on this morning we have royal caribbean not moving so much today but of course the cruise operator is down in a huge way this year, absolutely hit by the virus, stalled, chips not in the water and not surprisingly their revenues stem 75%, a matter of looking forward. as for verizon, a very strong quarter and beat the top and

joining us to break down the market avenue big -- the market action are abigail doolittle who has following -- who has been following the action. abigail: tesla delivered. considering you have the stock of more than 280% on the year going into that report. before we look at that stock specifically, it has been another interesting, slightly choppy day. more sleepy at the end of the day. we saw this late day surge climbing. not huge gains. we had stocks of flat. nasdaq down at the end of the day. . this s&p 500 higher. this seems to do with the fact that we once again have the fed balance sheet expanding. that is driving the dollar lower, helping of these major averages. the new york faang index down ever so slightly, despite microsoft climbing into its report which we will talk about in a minute. there were renewed to between the u.s. and china with the u.s. closing down china's consulate in houston. stock see, a china's index in the u.s., down 1.8%. that is sort of a broader recap, a little bit of a risk appetite, but more neutral. as for tesla, risk on, risk on, and risk on. they basically

abigail doolittle has been breaking it down and watching the action. igail: another jittery day and another day where this is not a satisfactory answer, it does not feel like a satisfactory answer to some. it is very hard to say that yesterday was risk off and therefore you had technology and stay-at-home leading, and today is risk on. if it was a strong cyclical rally and the sectors that were higher were those cyclical sectors such as energy, financials, industrials. a stronger gain has to do with that tech laws. nasdaq down 1%. more jittery action, that tells you lots of uncertainty as we head into the start of the earnings season. gold and silver, silver up for rate third day in a row. back off of the march lows. silver is up over 80%. that is where that money is going as we sort of waffle around into this uncertainty. after hours, we have movers on earnings, including snap. the daily user growth lags the forecast even though revenues were up 70%. if you include that with -- 17%. not used quite as much as maybe some investors and traders had hoped.

abigail doolittle, thank you for that. and speaking of apple, the cofounder, steve wozniak, is suing youtube for failing to request to take down bitcoins scam videos. he says it's cameras have used his name and likeness for months scammers have used his name and likeness for months. people from the likes of joe biden and bill gates were hacked on twitter. >> it started in early may, believed or not, more than two months ago. some people started contacting us saying they sent bitcoin in and why didn't i send them twice as much back? they said they saw it on a featured youtube video for them to watch where they were coming from. then we went online and discovered there were a whole bunch of these. from then on, we probably set down fraud notices and written statements of what was going on youtube was a crime to dozens or hundreds of times, late nights, until 3:00 in the morning. we are just normal people. we had to go through the whole process. toy don't have a category report a crime so a human can look at it. i don't think

. >> it is time to chat with abigail doolittle. ail, take it away. >> joining us this week is the market technician override his company, frank. it is great to have you as part of our segment. we have this massive bull rally. , a series0 right now of small moves nonetheless. where to you think we might be at the end of the year? what about this big surge for silver? >> thank you for having me. when you think about it, there's been a series of bullish patterns. those patterns have breakouts. right now, we are looking at relatively near-term. kenexa objectives we have in place are 3300 -- the next objectives we have in place are 3300 and 3500, and you can expand. >> interesting stuff for sure. of the other. bring on think the uptrend might continue, as well. you are making the point silver is perhaps a little bit expended here. you think 26 or so over the long term. let's turned to another hot topic. -- turn to another hot topic. prettyn having a difficult time. you have an interesting chart. spikes is forfor how oversold the value ha

we start with the markets and go to abigail doolittle. abigail: they are trying to rebound once again. you are right, a very strong jobs report. extremely stronger earlier, up more than 1.5%, even more than 2% on some of the indexes. 1%.s&p 500 up about the nasdaq around the same level. record closing high being helped out once again by bank stocks. financials doing well also. we have a nice sector composition here for stocks. on the week, we are looking at an up week. there has been volatility. here for stocks as the bold and bears are battling it out for which side is with the economy. david: it has been up and down even though we had the amazing quarter we just ended. as we go into the second half of the year, you say that maybe perhaps some tea leaves that indicate there may be a shoe to drop. why is that? abigail: i look at a lot of charts each day and there is just nuances in some of these charts that suggest that some investors are preparing for the possibility of some sort of even shock, an event that most are not anticipating. thi

for more, we will be joined by abigail doolittle. t is incredible because the shares are on an astronomic run, especially out of that march low. on the idea we will see tons of and travelinge rv this way considering planes have been grounded, although back on the rise and cruise ships at port. you see thor industries absolutely soaring. that is true of their competitor winnebago. out of those march lows up more than 200% at one point. pretty incredible. this boom may not be reflected yet and the numbers for thor industries, but it is certainly showing on the website rvshare.com. folks are looking at that site, looking into the idea of buying an rv, or looking into the lifestyle. you can see nearly 2.7 million people in the month of may going to rvshare.com. pretty remarkable. who knew? finally, all it may not be reflected in thor industry -- thor industries' numbers, it looks like camping will be apart of their number. relative to the july quarter. looking at very strong sequential basis growth on a nearly tripling, and on the october

we will start with abigail doolittle. abigail: stocks are doing pretty not -- pre-much nothing. the s&p 500 up .2%. if the index does close up, it will be the fourth update in a row. that would be encouraging. we are seeing weakness for the stay-at-home stocks. the faang stocks down .3%. not a huge move. when we are seeing bigger moves, we have u.s. china tensions flaring backup. one of the china stock etf's in the u.s., basically chinese companies listed in the u.s., that index is down 2.1%. that is the only area where we are seeing tensions. it is amazing to see markets look past the developments. if it had been a year ago. i would not be surprised if we were seeing a 1% down move. futures lower earlier. silver higher. stocks might not be doing much but some of the frothy money seems to be going to the precious metals. silver up a fourth day in a row. not surprisingly the dollar down for a fourth day is helping. it'll be interesting to see whether than the dollar index can hold on. a sleepy summer day. tesla will be reporting after the bell. david: except for silver. abigail i

abigail doolittle has the details. abigail: certainly a risk on day at the markets. the s&p, the fifth day in a row for the winning streak. the optimism carrying right into the new week after some strong economic data. of course, we have that continuing rally in china. 100 set for its third record close in a row, being helped out by amazon. and above $3000 for the first time ever for amazon. has a $1 trillion market cap once again. olibre is above 1000 for the first time. nasdaq a member of the composite and nasdaq 100. speaking of these records, it's incredible. if we look at a chart on the march lows, the nasdaq is now up more than 51%. did not exist in the great depression, but some say the rally for the s&p 500 is great depression like after its huge drop. only time will tell. it seems some of the folks that have been reluctant are finally joining in. these are member ranked returns. money markets had reached a high of $4.8 trillion a week ago. now at $4.7 trillion. those people on the sidelines are now putting money to work. thank you for that. turning to reside

let's go out to abigail doolittle, who has some background. abigail: a big miss here relative to earnings. we see those shares plunging. the more important miss probably around subscriber ads. it beat the expected number, a little bit above $10 million. the whisper number was close to 10, even 12 million. this stock up nearly a double from the march low. they simply did not put it up even though they beat revenue slightly. again, earnings down and subscriber number for the second quarter missing the high-end. in the first quarter, they put up 15.8 subscriber ads. there was clearly some pull through. when they put up misses, it is typically in this june quarter. disruptiono with the at this time of year. even though there were a greater number going into this quarter, leading for some to believe they would be simply not the case. you were mentioning the fact that the third quarter disappointing, 2.5 million. the street, a little bit below 6 million. some expectation of a whisper, closer to $7.5 million. putting it into the context of the first q

we start with the markets and go to abigail doolittle. hey are trying to rebound once again. you are right, a very strong jobs report. extremely stronger earlier, up more than 1.5%, even more than 2% on some of the indexes. 1%.s&p 500 up about the nasdaq around the same level. record closing high being helped out once again by bank stocks. financials doing well also. we have a nice sector composition here for stocks. on the week, we are looking at an up week. there has been volatility. here for stocks as the bold and bears are battling it out for which side is

abigail doolittle is here to explain. we are off to a fresh start this week. abigail?to keep trying to get -- i do want to hear what is going on in the markets. down in washington, and maybe a hot july, but things are not cooling down in washington because they have the u.s.-china trade tensions, they have a fourth round of stimulus, and there is a presidential election going on. to take us through it all, we go to isaac boltansky, policy director for research at compass point. welcome. there is a back-and-forth on u.s. china

let's check on the markets with abigail doolittle. was all about tech, today is all about energy. abigail: it is amazing these big moves we are seeing in all sorts of directions relative to sectors and styles. yesterday we had the huge monster rally for tech. out of nowhere last week there was a drop. today we have tech lower and energy up nearly 6%. we have the s&p 500 up .5%. what is interesting is yesterday up .8%. even though only three sectors were higher. higher,st sectors are but we have a smaller gain because of the weighting of those sectors, energy materials, on down the board. the tech heavy nasdaq is down .8%. this has everything to do wi

we have abigail doolittle. choppy. one of your favorite words. it applies to today. lier on the open, up and down. right now mixed. we've the s&p 500 and the dow a bit higher. while the nasdaq 100 and the new york faang index are doing less well. in the red. yesterday we had a dramatic reversal for the new york faang index, at one point up 4% then down 3%. that index has been on fire out of the march lows. that stay-at-home trade investors going into it. a bit of an unwind. we had the financials pushing slightly higher but a mixed picture for the big banks. jp morgan putting up a great quarter despite a large loan reserve loss. that was the case for citigroup

to break down how investors are digesting this, abigail doolittle. have to talk about this tech rally. buteveryone, it seems, google. abigail: yes, a big rally for apple, amazon, facebook. google the odd stock out. you and i were talking about quarters forblowup most companies. apple, in particular, the stock had been up 5%, then in the afternoon around that news came reversed, and that is when apple took off, as though there was an invisible hand behind apple surging. it is hard to believe institutional money is buying the stock at a five-year high. they haven't provided in outlook, but nonetheless, great results, each beating estimates. apple and amazon beating, meeting or beating the adjusted earnings estimate prior to the pandemic, but almost as though they had never been reduced. facebook not as much, but investors relieved add the sales were strong. not for alphabet. relieved that advertising sales were strong. not for alphabet. down 3.3%. all this leading us to record highs for apple and facebook. , notd see record highs just on the day, but o

abigail doolittle is here. they are up but they are not up as much as they were in the day. e jittery. earlier we had the major averages all up 1%. it seemed like nothing could stop the bullish sentiment. now we are looking at mixed markets. the s&p 500 barely higher. most of the nasdaq indexes are sharply lower. the s&p 500 being helped by some of the cyclical sectors. on the other hand, you have the faang index, a proxy for the stay-at-home trade with the mega cap companies that have done well with the stay-at-home shift we have seen over the last months down 1.5%, now down 4% over last four days. amazon down 3.2%. this is a real

we start with the markets in abigail doolittle. ng a lot of lift with equities and how much of that is the jobless claims that through people a bit? abigail: that is a big piece of what we are seeing today. even though the lines are small, earlier the futures had been higher and we are looking now at small losses. that was after the jobless claims number came out at 8:30, the first time we saw a rise since march. investors connecting to the idea that the recovery could be bumpy at best. that is what that number would suggest. at this point the s&p 500 down slightly. the nasdaq 100 down more significantly, about .7% as some h,,the big tech names weig particular microsoft.

we start with abigail doolittle and a report on the markets. ody wants to go anyplace anytime fast. abigail: i would agree with you on that. relatively small declines for the major averages after the gains we had yesterday. right there, a lot of uncertainty and waffling after last week. maybe a bearish tilt to all of this. what investors are waiting for, so many different factors. of course tomorrow we have the big tech hearings. we also have the fed. earnings over today, tomorrow, and thursday, each day, 10% of the s&p 500 companies reporting. on thursday, it is apple, amazon, alphabet, and facebook. about 40% of the nasdaq 100 in weighting. investors want to know what is happening.

i want to bring in abigail doolittle who has been following all the action, or lack thereof. lk us through the theme of today. abigail: lack of action was the theme on this slow summer friday trading day. there was some fluctuating between gains and losses on the s&p 500, the dow, and the nasdaq, but this is the first few -- the first time in quite a has been true,at but this is the first day in quite some time where it did not file shoot might drop or we did see a true bump. there is reason to think that could be ahead, but today, the s&p 500 up, the nasdaq managing to pull out a gain -- it seemed like the nasdaq might put up its first two day decline, which would be the first time in two months. part of that having to do with biotech. goldman had constructive comments on modernity. on the week, the worst week going back since march, the nasdaq down on the week, the s&p 500, the first time we've seen that since the fall of 2018. that might not be the most auspicious signal. netflix on the week, down 10%, its worst week in a year since they had a bad quarter last june as well,

abigail doolittle has more. t looks like there is the possibility one trade war maybe cooling down, but when we look at the shares of airbus would not know it because that stock is still down. airbus saying they have taken the final step to end a long-standing trade dispute with the wto, which is the justification for u.s. tariffs. this de-escalation from airbus is what they're calling the final step to end the situation with the u.s. and with the wto. what they are doing, they have agreed with france and spain to amend repayable launches on one of their planes. removedim this is what justification for u.s. tariffs. theou recall last october, u.s. did slap 7.5 billion dollars of tariffs on european goods come anything from alcohol to airplanes to luxury goods, hurting airbus. they receive 17% of the revenue from north america. the wto stood by the u.s. since they found out about unfair subsidies airbus and boeing had been receiving going back to 2004. another pressure on airbus. earlier this year the u.s. did inc

abigail doolittle is here. they are up but they are not up as much as they were in the day. abigail: they are jittery. earlier we had the major averages all up 1%. it seemed like nothing could stop the bullish sentiment. now we are looking at mixed markets. the s&p 500 barely higher. most of the nasdaq indexes are sharply lower. the s&p 500 being helped by some of the cyclical sectors. on the other hand, you have the faang index, a proxy for the stay-at-home trade with the mega cap companies that have done well with the stay-at-home shift we have seen over the last months down 1.5%, now down 4% over last four days. amazon down 3.2%. this is a real tension because it is healthy if we have cyclical sectors doing well. on the other hand, and on the idea we are recovering are going toward a reopening, if you have the stay-at-home stock such as the apples and amazon's or some trades.ther it will be interesting to see how this works out. right now it is resulting in jitters. that with warned us the fans they might have gone too far, too fast. you've been warning us. what about the

abigail doolittle as ever giving us some of the best market action.et's stick with market action and some of the deals we have seen. bytt, i want to start off talking about a little bit of m&a to kick off this monday. we did get an exit from postmates. not the public exit. but how does it help the food delivery part of the business? >> thanks a lot. good ian with you. this is a deal that i think people were possibly thinking about. some consolidation in this category announced relatively recently. w --eattakewa justeattakeaway.com. my -- i think people were probably thinking that uber was ready to make a move. according to data from second measure, at least as of may, they had a little bit over 20% share in the u.s.. postmates had 8%. that would essentially get them to the clear number two business in the category. behind only doordash. it would put them ahead, relatively clearly, of grubhub, which obviously is being bought by primarily european and canadian competitors. about -- talk to us what is interesting, perhaps not as much of a concern about t

abigail doolittle has more. bit of a roller coaster for this stock.he news itself, positive results on this study by the university of oxford and astrazeneca, a dual sponsor. abiding'save an coming out and t cells, sue have a defensive reaction and an offense of reaction from the vaccine. initially but stock popping higher, and it is up a little bit more relative to where it had been the reason it is off the highs, it is early-stage, so more data needed, especially a larger study on human beings. if you look back in history, the fastest vaccine to be developed is ebola which took five years. we have a vaccine in a year, that would be pretty incredible. we do have a number of other in shouldping higher say relative to one of the companies in england as well. company, and they have shown a drug that lowers the need for a ventilator. these shares are up 3100% this year. this is still a small company, but soaring. pfizer has had positive results with some of their partners. the u.k. has promised or taken on 90 million doses of their vaccine along with som

i am abigail doolittle. we are starting our smart charts technical segments. longtime since we have had an opportunity to chat. we have this raging move higher. right now the s&p 500 stock in consolidation. before we get a chart which is amazing, what are you thinking about overall? you have a good perspective as a traitor. --trader. we raced up and pulled back. it looks like a correction but we will move higher overall. it depends on how the summer goes, if the coronavirus comes back in full force, people look subhe election and the pricing, we are -- muchollar is pretty correlated with stocks overall as well. we are going to see a lot of currencies moving with stocks as well. if you are long the euro, you gold i thinkks -- is going to slowly move higher as we go through. reallydollar charge is interesting. what -- chart is really entering -- dollar chart is really interesting. your s&p 500 chart, the reason this amazes me so much, we used this chart two years ago and we are stuck in the same phase. joe: it is amazing we had the a.b., cb corrections. now we h

abigail doolittle is here to explain. we are off to a fresh start this week. abigail? we are going to keep trying to get -- i do want to hear what is going on in the markets. down in washington, and maybe a hot july, but things are not cooling down in washington because they have the u.s.-china trade tensions, they have a fourth round of stimulus, and there is a presidential election going on. to take us through it all, we go to isaac boltansky, policy director for research at compass point. welcome. there is a back-and-forth on u.s. china sanctions, but one thing there is bipartisan agreement on is we do not like china very much. isaac: there is not much agreement we have down here, but that is undeniably top of the list. what we have seen over the past few weeks is both parties coalescing around the idea it is necessary and in the vital when it comesest to my policy with china. it is not just here. it is also our partners around the globe. i think the eu has been more serious around this matter. we have had some developments in terms of congress passing limited sanct

return to abigail doolittle. stocks are up, but i wanted the bigger story. ing on with the dollar? abigail: the dollar is a huge story today. rick to have you back in studio, david. relative to the dollar it is absolutely getting decimated. a 10 year uptrend of support barely hanging on. all sorts of cross-asset ripples. we have stocks well-off highs, but we do have gains for the major averages. the s&p 500 up .3%. the nasdaq up about .7%. index has beenng higher. all of this as old is surging and the dollar lower. a dangerous relationship here. all eyes on the fed on wednesday, how they are going

for more i want to get right to bloombergng in abigail doolittle who has been over this story. nasdaq another record high today. what are you hearing about sort of the strength that we saw into end of today's session? >> it's pretty amazing. we have another record high for nasdaq. nasdaq 100, big tech stocks continuing to do well. those are the stay-at-home stocks this year's defense. there's an odd tension that you have this year's defense and new hitting record high after record high. interesting,t earlier today, you had tech slightly lower. bulle end of the day really rushed through supporting technology. investors looking past virus numbers. it's not going to slow the that it hadhe way on the shutdown. back in february when the virus was raging in china, that down, stocks here ignoring it. it feels we are ignoring some of fundamental data. take a look at the moves that we have on the day. wasn't just tech. tech actually on the day a sector.ower as financials up 3.5%. bit of a nice cyclical tilt s&p 500 beings& s&p helped out by bond falling. the dayisk on end of with yields

thank you sodavid: much to abigail doolittle for that report on the markets. we are watching president trump as he continues to make a pivot on his position with respect to the coronavirus. yesterday he announced he will not give a live speech in jacksonville at the convention that was so important to him. we will do amp: convention speech in a different form but we will not do a big crowded convention. it is not the right time for that. i care deeply about the people of florida and everywhere else in this country and the world. i do not want to do anything to upset it. trump that was president speaking yesterday. we welcome jeanne zaino, our bloomberg political contributor and a professor of political college.t iona this is a big move for the president. he had fought for this. he decided to go to florida because he wanted to have a big convention and now he is giving up altogether. what is going on? jeanne: the writing was on the wall, you had aids convinced him , you had apprehensive donors, you had members of the gop from congress who said they would not sh

thank you to abigail doolittle for that report on the markets. we have had some tension. it is a tug-of-war between a virus that will not go away and on the other hand a stubborn upward moving equity market. to figure out which is winning, we now welcome the head of u.s. public policy evercore isi. sarah, what is going on? there does seem to be something of a disconnect between what the markets are telling us and what the economy is telling us. good: the economy had a report last week on the jobs encouraginghat was and good news for the trump administration, at the same time, you are right. we are zika virus raging all over the country in all sorts of new hotspots and we are starting to see some businesses pulling likeand closing back down florida, like texas. we'll have to wait and see. the reality is we lost a ton of jobs in the spring. jobs, thereese good a lot of things close down and people looking for work. at some point i think the market may want to consider some of those factors going forward. david: one of the great things about evercore isi's you look at some a

joining us on the market is abigail doolittle. walk us through what is going on in the markets. last night after the bell we got the big tech earnings and the gains today. abigail: they do continue but it is interesting because at this point we are looking at mixed markets. apple, amazon, facebook putting up huge quarters. stocks surging. that is still the case for the stocks. the nasdaq 100 is up sharply, being helped out by the waiting, roughly 30% waiting to those three stocks. we have the s&p 500 and the dow down, the s&p 500 slightly, the dow more so. where we have real weakness is the russell 2000. this as the haven yen is up 1%, the best day in two months. this may suggest that despite the fact we have a huge gains to the mega cap stocks, there is uncertainty from whether there will be fiscal stimulus from d.c., other earnings report, big oil doing poorly. not a lot of cyclical bullishness at this moment. there are concerns showing through that haven yen getting such a big bid on the day against big tex strength. taylor: when you talk about that big tex strength it is -- t

joining us to break down the day that was, abigail doolittle. she has been following all the market action. curious what you make of the whiplash today and why investors were not more optimistic about the vaccine news. abigail: another volatile day. today, a bit jittery. there was a point in time where it felt like you were going to see a bearish reversal. it did happen for the nasdaq 100 and the new york faang index. the tech stocks and stayed home stocks did go lower. at the beginning of the day as you were mentioning, we had the surge and optimism around the moderna vaccine, that perhaps it is going to be the cure-all and could come earlier. but, that is far off. when you put that together with the fact that the dollar -- and this is boring in a way because the dollar has been one of the big drivers for stocks and raise gaskets -- risk assets. the overnight, the dollar had been down 6/10 of 1%. on the open, down have a percent. when the dollar paired its losses on the day, that is when stocks got choppy. it is a technical nuance that is creati

joining us, abigail doolittle. this hearingsee as went on and is still going on? abigail: some pretty interesting comments. i think these tech ceo's and companies and more so the stocks benefited from the fact that it was a fed day. more of wall street attention was probably going to the fed as opposed to this testimony. we did have an up day. all these stocks up more than 1%. look at a five day hast of these mega caps, it been a bit of a rough patch. not just over the five days where all these stocks are down. anticipation that this could be overhang. from the standpoint of whether any regulation will be slapped on big tech, it seems unlikely. the companies probably most vulnerable would be google and facebook. 90%.nk i saw amazon, which seemed to be under the most pressure, the key there is less compelling when compared to walmart on some statistics. thinking that while it was a psychological overhang, regulation is not going to happen anytime too soon. emily: abigail, thank you for that. we are in round three of questions with the representatives talking to the

thank you so much to abigail doolittle. the markets seem to be caught between a virus that will not go away. today read on where things are -- to get a read on where things are, we turn to the founder and ceo of the rockcreek group. you have a note out this week that illustrates what i was just saying. what is the investor to do copy between these two powerful forces? afsaneh: investors are very confused as you said. seeing isat they are as confusing as what the fed is seeing. investorsppening is when always keeping a 70-30 or 60-40 portfolio, you kept a certain share of stocks and bonds. now you are seeing that your bond portfolio is going to earn huge zero. suddenly a lot of individuals are pushing themselves into investing more in the equity markets and part of it is psychology and part of it is the fact that you are not earning every time -- a return on your funds. that is one of many reasons that people are moving in this direction. pension funds and institutional investors are being more careful. they are not keeping