bertha coombs takes a >>look. eporter: pressure from washington will continue to loom large with theealth care sector with the trump administration now taking up transparency on hospital prices. in the next few months analysts say watch for the adminisation to finalize its drug price blueprint policy, iluding a ban on pharmacy rebates from medicare drug plans and potentially pegging drug prices to international riees. the pol 3r0eproposed in the last year just after drugmakers rais raised list prices. >> if you assume drug companies are going to raise list prices the beginning of july this year, we can assume the allinistration o what it did last two times which is issue additional regulations immediately thereafter. >> outrage over drug prices hit pharmaceutical stock hard in the last presidential cycle in 2015. this time around health insurers have been hit hard following senator bernie sanders campaign lach in april and again after he introduced the medicare for all bill which was endorsed by kamala harris, cory bookers and others. analysts say stocks found their footing after joe

seema mody watching the movers here josh lipton covering the surge in chip stocks and bertha coombs with the biggest movers at the nasdaq brian sullivan in svienna today >> after an eventful weekend in asia, we now wait to see what china will buy and how much, which companies get the commerce department licenses to sell to huawei and when trump administration officials will travel back to beijing for talks as they were expected to do in may before negotiations broke down the office of the u.s. trade representative said there are no scheduling announcements at this time president trump said he's not in a rush this truce, unlike previous truces, has no deadline morgan >> kayla, thank you. the s&p hitting a record intraday high earlier in today's session on the back of the headlines. seem wa mody has more. >> the s&p still up about .4%. and 2954, that's the level to watch to see if we can close at a record what is working for the market, financials have outperformed today. and even on friday, after a number of banks passed the fed stress test and also increased their dividends, a number of

that doesn't walk and i know how to fix it now my big dream is to have my own company and it's also coombe a stream she always pushes us to get our own business so we have to make a scene. then combusts workshop is never short of business. i really trust them with my car it's reassuring to see women taking care of everything and it's easy to communicate with them i believe we'll see more and more women mechanics. but with the current industry seeing repeat growth all sinegal is drivers ready to have the vehicles fixed by women. in the world works like this now there is no longer a profession dedicated only to men or profession dedicated only to women. since the concept of parity exists there are no more do not interest signs for women want to. know more about both of them are from different from honestly i pity them it's hard work i respect their choice but i can't that women fix my car for the short term. even though there is still a long way to go here at ota farm they will keep fighting for a few now and they can mix to be considered the norm in senegal. ok so african unity what does th

>> all right, thank you very much bertha coombs. now to meg terrell, for more on what investors and consumers should be looking at meg, i was going to ask you to explain exactly how drug pricing works, because i know you could do it in 45 seconds or less. but take it any way you want >> i'll explain how rebates can work we wanted to explain a minute how the drug rebate system works. when you have an insurance plan, you pay both a monthly premium and when you get a prescription, you pay out-of-pocket costs at the pharmacy counter over here on the way that rebates work, the drug company sets a list price for a medicine let's say hypothetically it's $100 the pharmacy's benefits manager negotiate a rebate on that drug. the average rebate according to hhs is 28% right now the pbms and insurance companies take that rebate and spread it across their planned beneficiaries to lower premiums for everyone what the trump administration rules sought to do was instead apply those rebates directly to the price of drugs at the pharmacy counter the

. >> thank you very much the nasdaq underperforming the major averages today let's get to bertha coombs for a breakdown. >> hey, wilf biotech sector is the biggest decliner, trading on heavy volume today analysts at piper jaffray noting the biotech funds saw outflows for the tenth week in the last 14 last week sentiment was colored in part when president trump said he's set to issue new executive orders on drug prices in the coming days meantime, apple accounts for about a quarter of the nasdaq 100's decline on a downgrade net app getting cut over at citi to a sell. china related names giving back a lot of last week's games, though chip makers micron and amd are bucking that trend morgan >> bertha, thank you shares of deutsche bank sinking after the firm announced a major restructuring plan and wilf, i know you've been doing a lot of reporting on this and following this what can you tell us >> as you said, a major restructuring plan that includes 18,000 job cuts. that's from a total head count of 94,000, creating a bad bank to wind down 76 billion yeuros f assets no need for a capital r

honeywell concerns about global supply chains your all >> and uptown to bertha coombs for a look up thereness in chips and software names faang names were fair any floot. an interesting mix considering that you had both facebook and google getting grilled on the hill investors didn't seem to notice that apple took a tech lower when the president talked about chinese tariffs. but we still had a number of stocks at all time highs and a number of different types of sectors. roku all-time high casella waste also back to you. >>> still to come, the most valuable gold coin right in front of this building we'll head outside for a look at this gold coin >>> and u.s. stocks taking a bigger slice of the pie. what that means for investors. that's what happens in golf nothiand in life.ily. i'm very fortunate i can lean on people, and that for me is what teamwork is all about. you can't do everything yourself. you need someone to guide you and help you make those tough decisions, that's morgan stanley. they're industry leaders, but the most important thing is they want to do it the right way. i'm real

the year, but even so, a pretty low vix >> and the nasdaq pacing for a record close as well bertha coombs has a look at what is leading that index. >> interesting today we have small and large caps up about the same amount on a percentage term but the nasdaq and s&p's record run this week really stem from the strength in the mega caps. microsoft in particular up for the third straight day on pace to close at a new record high. it already gained over 35% this year as it did in almost all of 2017 chips though today are the standout leading up nearly 2% on the day and over 3% for the week and the worst performer, i wi illumina the sector off 3.5% especially after the concerns about tougher drug pricing controls potentially coming from the white house. >> and we'll turn now to johnson & johnson plunging on new fallout surrounding its baby powder controversy meg tirrell has more >> they are facing thousands of lawsuits claiming its talc products are linked to cancer and today it is reported that the justice department is pursuing a criminal investigation. for its part j & j says that the impli

bob pisani here to break down the moves and bertha coombs will do the same.t with you, bob. >> global industrials, will be reporting this week. mixed today but remember what happened to 3m in april. disastrous full year guidance much lower than expected stock dropped 25%. the whole sector got clobbered on those concerns. we'll see if they reverse that whirlpool good sign. i want to point out continuing carnage in the department stores, another new low for nordstrom's. down 40% decline for the year, macy oh kohl's, jcpenney down more than 20%. every day they move down more and some of the apparel makers not quite as much but we see ascena is down 80%, express down 52%. >> nasdaq outperforming the other major averages and bertha coombs with a look at the stocks that drove it higher. >> all about large cap chip names. 3% away from its april 24th all-time highs, quite a roller coaster ride the last 2 1/2 month, goldman upgrading today a new high for applied materials and land research or rather kla ten corps. among the losers today, netflix down for the eight the

bob has been in the middle of the action as he always is and bertha coombs in the middle of the actionaq which didn't make it bob, start with you. >> important thing here is we hit new highs on the dow and s&p 500. modest expansion of new highs down here, almost 300 at the new york stock exchange. visa has been a monster for the dow and s&p since 2000 the s&p the biggest mover in the last five years. mcdonald's also 52-week high didn't close there, though movement on the health care front. we heard, of course, about how the administration has withdrawn its proposal to eliminate rebates from the government drug plans that helps the hmos and hurts the drug companies, pfizer and merck to the downside. interesting reversalal in the last couple months banks and many of the industrials have underperformed today we saw banks doing better. yields a little higher, disappointing government auction. 3m and caterpillar nice rally today, but they have under performed the broader market back to you. >> thank you as we mentioned nasdaq did under perform the major averages bertha coombs with the detai

and bertha coombs has a look at the movers there, bertha >> it was a big nasdaq 100 move today.5th straight day where we saw record close and/or intraday high for the nasdaq 100, and nearly 1 1/2 dozen new highs within that group, including amd, the texas instruments, all-time highs for pay pal, starbucks, and microsoft as well, though microsoft closed absolutely flat on the day among the big cap names overall, not that much of a big move to the outside. apple was the stand out. amazon getting that much of a lift i guess they're on sale for prime day. back to you. >> thank you, bertha, for that now citigroup kicked off banks earnings this morning. beat estimates what can we expect from the other banks due to report this week let's bring in former wells fargo and ceo. dick, good afternoon thanks for joining us. >> thank you >> what was your snapshot take away from citi >> i think it's pretty much as expected i think banks, the overall s&p analysts are forecasting to be actually lower net income and eps. i think banks are going to do better than that, but i don't think they're goi

back to you. >> all right thanks >>> let's get to bertha coombs to check on today's nasdaq trade.the fact that the nasdaq composite finished higher today was a factor of the large caps again with the russell 2000 stilt in correction and negative again. we've got the nasdaq composite and nasdaq 100, both about 50 points away from new record highs which sets us up if we get a very strong number perhaps on friday with the jobs number that's likely going to be very key as to whether they catch up with the s&p chips today sold off after that big enthusiasm that we saw yesterday following the enthusiasm or the trade talks. we still don't have an actual date when the trade talks will resume back to you. >> bertha, thank you >>> now boeing shares as we said lower again today as the subsidy dispute with the europeans continues to heat up phil lebeau has the details. >> reporter: this has been a long-running dispute going back 15 years ago ultimately through the wto, boeing's lawsuit was ruled in boeing's favor now the trump administration is saying, wait a second, there needs to be some re

but i do want to get to bertha coombs at the nasdaq and the opening of this new ipo. >> we just had livongon for trade, the stock price at $28 a share. that was above the initial range of $20 to $23. just opened up 45% above $41 a share. that's going to give them a valuation today of about $2.8 billion or so, give or take a few hundred thousand dollars this is a company that does digital health management. they are famous for helping people manage their diabetes in fact, they have one of their 164,000 members here today talking about how it helped him avoid having to take insulin but they've also branched out into mental health and other chronic disease management as well the company is growing very quickly, their revenues more than doubled the last year, above $66 million. but their losses doubled, as well so they are not yet profitable nonetheless, this is one of the health tech stocks that a lot of folks have been watching in silicon valley they are paid for by enterprise companies and growing very quickly. again, livongoright now up mor than 50% in its debut. back to you. >> bertha, it'

we have more on this with bertha coombs on this. >> reporter: the guidance is a bit soft and the ceothey appear to be at a significant inflection point. they launched new chips and she says they are well positioned for significant growth in the second half. that said, when they talk about the guidance, they are expecting lower than expected -- or at least than what they projected -- semi custom chip orders as a result they're lowering their guidance a bit they're looking add the guidance for growth for a full year to be in the mid single digits, about 5% growth. the street had them a little bit more than 6% growth, but they are saying their margin will be a little stronger than what the street were looking at at about 43% or so. one of the things you have to look at this stock is that it was kind of priced for perfection it gained 23% gist from the last quarter and it is up 83% year-to-date before what we're seeing here this afternoon, making it the second best chip performer in the group it is also within about 3% of a new 52-week high so you're likely to see some profit taking. the

i'm bertha coombs at abc news headquarters in new york.ram this morning for an information involving john f. kennedy jr., the son of the slain president. abc news has reports that his plane is missing. >> that's part of the abc news coverage 20 years ago. for several days john f. kennedy jr.'s plane was missing at sea. the bodies of him, his wife, and her sister were found off martha's vineyard. we'll have more about the anniversary coming up on "good morning america." >>> and there is another anniversary today, one being celebrated across the country. >> 50 years ago today, what is still the most powerful rocket ever built lifted off from cape canaveral carrying americans to the moon. >> getting astronauts neil armstrong, buzz aldrin, and michael collins to the moon was impressive, but so was the effort to get them home, as we hear from david muir. >> reporter: as america held its breath in those final moments before landing, then as neil armstrong descended down that ladder, at the white house, president richard nixon and his speechwrite

. >> rick, thank you very much >>> for more on today's movers, it bertha coombs at the nasdaq >> you'reing off an all time high on the nasdaq and this morning we have seen just about a few stocks starting to move into the green but the majority this morning are to the downside as we're seeing some profit taking here this morning chips are among the worst performers they continued to be under pressure samsung put in a quarter that looks like a little bit better than expected. not as bad as feared, but nonetheless continues to weigh on the memory chipmakers as it doesn't really see that much more demand. what is interesting is that the faang names, they were the big contributors coming into the year but they aren't so much now notwithstanding the complaints about them in the uk from boris johnson. look at what's been contributing to this move to new highs here at the nasdaq, it is really been the software players that's where we have seen the strength, a lot of the cloud players, we have seen that in the ipos as well as in the stocks that have been around as well as in the granddaddy of t

just weakness going on with respect to dropping rates as much buying going on in the nasdaq, bertha coombse record close two months ago. what was driving it the software names. symantec thatterested in buyingm here on the nasdaq and in the chip sector and as we look at the nasdaq back at all-time highs. what's still sitting it out, biotech in correction and chips still have a ways to go along with a couple of the other tech sectors. over to seema. >> bertha, record intraday for the dow and three record highs in three days. not bad for a holiday shortened week conagra and kellogg leading the s&p to the upside and up 5% and 6% and mcdonald's and coke both hitting all-time highs the staples playing a role and there's the closing bell the s&p 500 adds 2,995 just about five points of breaking 3000. the dow new high 26,961. >>> today here at the stock exchange record all-time closing highs for the dow and s&p and nasdaq good afternoon, if you're joining us, welcome to "closing bell." mike san to the s&p ends the day at a record high and the nasdaq ends the day at a record high and taking a look

nasdaq outperforming other major averages bertha coombs has that >> and nasdaq above 8,000. about the communications this week with alphabet really being the biggest winner this week in terms of the communication names. it has been a laggard among the faangs, but it caught up with its best weekly gain since 2011. the other side, some of the big momentum names over the last year or so really tanking this week disappointing earnings a l align technology with disappointing sales and tesla with disappointing numbers as well next week apple and a number of chip makers. >> yeah, so earnings still in focus as we head into next week. beyond meat gearing up for its quarterly report on monday afternoon. share of the plant based meat company surging since its may ipo. here to discuss it is kate cox good to see you. i don't think even the wildest bull on beyond meat shares thinks that whatever they can say they did over the past three months will justify the valuation of this company. but the company does still keep announcing partnerships, giving it the impression that this is a phenom