and analysts in more than 120 countries. this is bloomberg. scarlet: -- julia: let's give you a recap of today's market action in the u.s. the dow and sending the session on the high. fresh records for both the dow and the s&p. the nasdaq higher by 1.4%. that gives you a real indication of what the driver was today, the tech sector higher. the s&p 500 -- three sectors in the red. telco, utilities, and energy stocks underwater. we do have wti crude trading below $45 per barrel. joe: "what'd you miss?" bruce berkowitz made his name as one of the greatest value investors of all time, but his performance in recent years has been nothing short of awful thanks to stocks that so far have turned out to be dogs -- sears, fannie mae, freddie mac. the markets are not cheap. sort of drivenen by a handful of companies. usual, i'm invested in that which is hated or deemed to fail. that's where i like to be, but as you rightly point out, it has been a long period of time. i believe that shareholders are going to see whether or not i'm right in the not-too-distant future. >> i'm curious. when you look at the must-own facebookhe fang's, come amazon, a

day of the quarter and the first half of the year dow getting its biggest boost from nike adding about 35 points an agreement with amazon to sell a limited number of products on the site the dow and s remain on track but the nasdaq likely to post its first negative month since last october they'll all post gains for the second quarter the dow and s&p which haven't posted a quarterly loss since the third quarter in 2013. humana, cboe and c.r. bard >>> tomorrow, oregon, maryland and washington, d.c. and 14 cities or counties will raise the minimum wage this comes on the back of two conflicting studies on the effect of raising the minimum wage and whether it's a good thing. one is from the university of washington which shows seattle's move to gradually increase the local minimum wage to $15 an hour has caused low wage workers to actually lose money because it reduced working hours there's another study from uc berkeley that says seattle's $15 an hour minimum wage law boosted pay for workers without costing jobs let's debate it now. cardinal martin is from the center of american progress. she is in favor of raising the minimum wage and michael saltsman is a research director. he's aga

up about a half percent for the dow and s&p. higher after a two-day slide in the tech sector and the nasdaq we saw it rebound knislnic nice yesterday. we did not see the tech selloff affecting the rest of the markets. also coming in light of another tough day for politics on capitol hill with that jeff sessions testimony more on that to come futures pointing higher. asian trade for you, mixed session, but not really negative just slight declines for japan hong kong was higher australia nicely higher. hang high down 0.3%. this after mixed data. retail sales in line fixed asset investment is the one area that did miss still higher 8.6%. european trade up a half percent yesterday, up again today. we had decent mroichemployment out of the uk. france leading the charge up 1%. >> on the agenda in washington, the white house continuing its week-long push for work force development. the president's daughter will lead a discussion on the topic today with a group of ceos washington is still buzzing over attorney general jeff sessions' test

, and nasdaq higher at this point. the dow by the most, s&p 500 by 3/10 of 1%. the nasdaq had been lower earlier but we have not seen a big continuation of the selling that hit the markets yesterday and on tuesday. investors taking a bit of a breather after all the volatility and with saws and down. we have the nasdaq down 1.8%. it's worst week of the year. some investors are calling this serious, there aren't a lot of reasons for actual why investors are selling off those tech shares perhaps too far, too fast. it is still the best sector on the year and a great sector on the quarter despite this decline. for its500 on pace worst decline since the middle of april the look at the small-cap russell 2000 and the dow jones transportation average great we have the dow transport and aboutts best week a month. let's take a look at some of the stocks that are helping the dow transport before looking at some of those tech pleasers. we're looking at the likes of avis, along with the airline stocks trade avis of 12.7%, it's thatweek of the year on deal

the dow and s&p retreat from the record highs. from new york, this is bloomberg. ♪ ♪ julia: "what'd you miss?" u.s. stocks dropping as oil slides into a bear market. fed officials continue their rhetoric. i am julia chatterley. scarlet: i am scarlet fu. joe: i am joe weisenthal. if you are tuning in live to twitter, we want to welcome you to our closing bell coverage. scarlet: we begin with market minutes. the dow and s&p retreating, pulling back from record highs made yesterday. offaq, the lead reporter, to the downside 0.8 percent. alas is intensifying its trading came to a close, with indexes finishing at session lows. in terms of industry groups, we have been talking about the drop off in oil prices 10 minutes ago. energy stocks among the big decliners, off by 1.2%. four industry groups losing more than 1%. a sizable move after a period where many did not move much. joe: especially around securities. scarlet: discretionary contains retailers. amazon announces it will enter the subscription business with retail apparel. that is

here's how we're finishing up the day and the week on wall street well, the s&p managed to avoid four days of losses. the dowver so slightly .01% infact the dow, s&p and nasdaq all higher for the week. so nasdaq out performing again it's worth noting russell up 3 bers but as a fifth of republican centers have come in -- but a fifth republican senator has come out against the bill, can any progress be made we're going to debate that coming up here on "closing bell." let's talk about the markets for the week we've got cnbc commentator as always and chairman and founder of navaleer and associates. mike, you have talked about rotation so many times it was oil back on top, energy on bottom. what else stood out? >> i think with bio tech, it shows the habit of this market and the current environment to look for the laggard groups and lift them up it hasn't really helped, but for this -- we closed today at 24.38. but you observe the oil crash and the week or seasonal >> by the way, we talk about how smooth this rebalancing is, i lmgs got run-over by three traders. we have a lot going on here. we have a news alert on

and new technology. >> the falling oil prices dr stocks lower including two dow components. exxon mobil and chevron. that weighed on the broader market with the dow and s&p 500 retreating from all time highs. the dow jones industrial average fell 61 points to 21,467. the nasdaq was off 50 and the s&p 500 dropped 16. >> and the retail sector was weak today. this after amazon took yet another swing at the industry that it's been reshaping. the online company is now launching a new clothing delivery service. the concern for retailers is this new competitor will lead the lower prices and narrower margins. something the industry is alrewith bob b pisani has more for us tonight. >> today, it was retail stocks that took a dive as the amazon juggernaut rolled on. they rolled out amazon wardrobe where they tackle some of the biggest problems with buying clothes. the time it takes to shop and hassle for finding the right size and returning stuff you don't want. big retail names like nordstrom, j.c. penny's and discounters all down 3 to 8% or more. that's a lot. the it's a simple idea. try before you buy. pay for what you keep. pick out three items or more, get s

the peso and the threat of a downgrade. we head towards the close. -- weia certainly has have the dow and s&p 500 trading lower. between the dow and nasdaq, that is between nine cents. nasdaq held up not just by technology, but also biotech. nearly out of the bear market, adjusters may think the pressing concern is gone. plus, there's lots of data out bere and investors may putting on the way. we have apple, amazon, alphabet, facebook all trading howler -- higher. -- apple is still below the average and we have a little bit more. back in 1986, 156 days, that is the current record. today, we are matching that. we are now on a 156 without a pullback. backoint to be made is then in 1986, much of the -- ing was comprised right now, we are down about 2% from the top. it may suggest we could see some biotech names. u.s. home sales picked up, but americans are facing two major headwinds. it is the age of homeowners that might shape the real estate market in the future. reporte meyer has a new that talks about millennial housing trends. michelle, ever since the crisis, there has been a big debate of an extended downturn

in fact, the dow, nasdaq and s&p 500 all hit new highs last week. that came despite the president's decision to bail on the paris climate agreement. and the subsequent backlash from corporate america as well as a mixed jobs report. now what will investors be watching snt uk election results on thursday. wall street is anticipating a victory for teresa may. but an upset for her or her party could cause a pretty severe market reaction. one other thing to keep an eye on, apple. best dow performer of the year is hosting a big event. it holds the worldwide developer conference tomorrow. tim cook could make an announcement, a competitor to the amazon echo and investors will be watching shares of both tech giants. >> you're live in the cnn newsroom. we have breaking news right off the top. increasingly tense scene in portland, oregon. protests are getting heated. this is video from a short time ago. everything from black bottles to bricks to balloons filled with a foul smelling liquid are being thrown at officers. that began as a trump free speech rally and

the dow slightly higher. the s&p andit lower yesterday the dow and s&p showed slight gained. >>> marc benioff talking a little f.a.n.g. stocks and uber and some new exclusive comments to cnbc. jeff s jeff sut moogeoff cutmore joins china with more. >> here we are at the world economic forum event which focuses on the fourth industrial revolution, which may explain why marc benioff is in town talking about ai and robots. i asked him about his m&a strategy one point he made is that he feels deals are getting expensive in the tech space. i said what about tech valuations on the publicly listed markets what did he think of the f.a.n.g. stocks? >> some of those f.a.n.g.s are still undervalued. i would agree with jim cramer. some of those companies, you look at aws, amazon web services, we work closely with amazon they're a large customer of ours you look at that aws business going past $20 billions this year, i think it's on a trajectory to go to 1$100 billion. you look at that as a multiple where amazon is today, amazon is a

the trading now. about .3 percent. street,s on a wall meanwhile, keeping a close eye on the former fbi director. markets were reassured by the lack of game changing surprises there. the dow and s&p both trading underneath the flat line, nasdaq also peering back its gains. it has been volatile in the oil market as well in light of wednesday's losses. it is currently trading at $49.69 a barrel. other business headlines now, the u.s. house of representatives is expected to vote on a bill that will dismantled the dodd frank act. the current administration argues that after the financial crisis, it is more difficult for businesses to get credit. they may have a hard time getting enough votes in the senate. shares in the chinese company alibaba expected their revenue to increase by half, it's accurate. billion.l top $34 t gained onalleian news it will sell it -- valiant. the released their debt load last year. posed newan union rules to protect its aviation industry from what it sees as unfair competition. there have been competitors in the golf receiving illegal subsidies, which makes it difficult to keep up. the allegations. this would make it easier for european carriers are go

the dow and s & p finishing higher for the week. as for that senate healthcare bill, the political fight is already on. four republican senators said they won't support the bill. it makes cuts to medicaid and eliminates nearly all the obamacare taxes. democrats labeling the proposal as a giveaway for the rich. it was a bumping week for uber with its ceo resigning. they blame kalanick for the p.r. problems. the company yet to name replacements. qatar airways plans to purchase a stake in american airlines. but it comes with serious questions after qatar had all diplomatic ties with neighboring arab nations cut over its ties to terrorist organizations. maria: the senate could vote on a healthcare bill as early as this upcoming week. president trump is still looking for a major legislative victory and so is the stock market. it wants the trump pro growth agenda made into law. scott, great to see you. thanks for joining us. your firm hold sick healthcare-related companies in your portfolio and you are the chair of the brigham healthcare

the story and the market movers on it. >> as we head into the final trading day of the month the dow and s&p each on track for a 7th consecutive positive quarter nasdaq the best performer despite weakness in june also up some 14% that compares to 7 in the s&p. 7.7 for the dow. it's going to be the worse since 2010. >> 2010. how about that and a lot of it came recently. this week the dollar is down 2% and that was largely driven by the euro shooting higher there's this narrative that the rest of the world is coordinating and i mean the world central banks. the ecb, the bank of england, maybe the bank of japan but they're coordinating the begins of an exit from super easy monetary policy. there was a lot of central bank speak and that is what is being attributed to this rise in global yields that we have seen. ten year treasury yield from 213 to 227 today and that's created some jitters in equity markets as well and it's also hammered the u.s. dollar. >> it created this catalyst to have the winners get sold and it's a little bit of an unwind of some of the comfortable trades out there and yesterday the big bank stocks and big te

>> a year ago at this time, the dow and nasdaq and s&p 500 world negative now, the nasdaq is up about. halfway through the year. the dow and s&p 500 is up about 6%. at morgan stanley we are forecasting that the s&p 500 will probably end up at 2600. that is about a -- we are bullish on that. our fundamentals are good. in november we had the trump bump. are waiting for tax reform to happen. we realize it probably won't happen until 2018. we are relying on the fundamentals. since 2008, they are pretty good. 80% reported earnings over 15%. that's a good sign.>> despite things that are happening around the world, the market continues to grow. >> thank you for coming in. >>> the latest space station mission is over. why the mission commander stayed behind while half of the crew headed back to earth. >>> we are tracking the weekend forecast. it is warming up. what can you expect tomorrow?'s (vo) shop all makes, models and colors in your neighborhood... all with worry-free ownership. head to your neighborhood enterprise car sales and let the people who buy more vehicles than anyone... shift y

we were essentially flat for the week coming into today for the dow and s&p. gher by about 1.3% for the nasdaq ahead of today's trade. futures pointing to a modest positive open. 30 points, just shy of that for the dow. 13 for the nasdaq, 13.p for t3 nasdaq an energy led story, the sector down 3% for this week. it is the worst performing sector, 9 out of 11 sectors have been in negative territory the week to date average return has been propped up by the tech sector the nasdaq the out-performer of the three indices. oil prices have been front and center all week. slightly higher today by a half percent. slightly higher by half a percent yesterday. as things stand now we'll look at about a 4% decline for the week 3% decline for the week as a whole. ten-year treasury note has been flat around 2.15 area. 2.16 this morning is the yield on the ten-year treasury note. >> stocks around the world, starting with asia, japanese markets closing up, just fractionally week to date the japanese nikkei did see a gain of 1% overall positive week for japan. hang seng closing fl

way to end the first half of the year, even with the recent volatility and the turmoil in washington. it's been a great year for stocks. the dow and the s&p 500 both up 8% this year. the nasdaq is up 14%. when you look at that nasdaq number, it's not hard to see why maybe some people were selling stocks the last couple of days, you know? got all these wild global market moves, take some money, put it in the bank. >> nice to hear about economic news to shower off the filth. >>> senators head home for the july 4th recess without a deal on health care. now new numbers from the congressional budget office paint an even bleaker picture for the current proposal. megan's smile is getting a lot of attention because she uses act® mouthwash. act® strengthens enamel, protects teeth from harmful acids, and helps prevent cavities. go beyond brushing with act®. >>> a scaled down travel ban in effect. includes a last-minute change, though. fiancees will be now allowed to enter the country after the state department said they did not qualify as a bona fide relationship. >> just before the ban restricting travel to six muslim nations took effect, hawaii

and the rest later. back over to you. >> thanks for that. >>> wall street with a mix dade yesterday. the dow and sere down, but the nasdaq finished in positive territory. >>> still ahead, bill cosby's future. turning lessons learned from trial into a summer tour and this. >>> you just never know. >> a mother's outrage after a peeping tom targeted her daughter at a local mall, next the key in the case that could help catch him. fios is not cable. we're a 100% fiber optic network. now with our new fios gigabit connection, you get amazing download speeds up to 940 megs, 20 times faster than most people have. and the price is amazing too for $79.99 a month online for the first year you'll get our fastest triple play with hbo included for 2 years. leave cable's slower internet speeds behind. so hurry up and switch to fios gigabit connection for $79.99 with tv, hbo and multi-room dvr service for two years all with a two year agreement. sorry about the holdup, folks. we have some congestion on the runway and i'm being told it'll be another 15, maybe 20 minutes, and we will have you on your way. ♪ runway

the dow rose 92 points. the s&p gained 11. both the dow and s&p closed at record heise.daq gained nearly 45 points. >>> verizon's $45 million deal closed yesterday. yahoo!'s ceo marissa mayer is out after five years. she walks away with a compensation package worth about $127 million. yahoo! and verizon's e-mail and digital services will combine under a new subsidiary called open entertainment oath:. >>> a group of 30 entertainment companies including cbs are teaming up to form a worldwide coalition to fight online piracy. the alliance for creativity and entertainment includes amazon, netflix, and hbo. in 2016 streaming piracy sites made nearly $108 billion according to estimates. >>> well, timeinc is cutting about one fourth of its assets. it has been struggling as print circulation shrinks and advertisers switch o digital platforms. >>> and mcdonald's is using snapchat to recruit new employees. mcdonald's calls its new hiring tool snaplications. snapchat users can view a ten-second video ad about how great it is to work at mcdonald's, and if they're interested, there's

dow 30,000 hat ready to go. there is certainly a lot of optimism. this is the first time we cross 21,500. new high for the dow and s&p 500 and tech stocks bounce back. break it down. driving stocks to all-time high. apple, tech stocks, despite cautionary notes from analysts next couple weeks the tone is still the iphone in the fall is going to be a win. you see apple closing 146.34. that is up over 2%. nike a winner and kept a close eye on the done deal of amazon and whole foods even though they surged on friday. new highs for amazon and whole foods. surged 30% almost on friday for whole foods on that deal that amazon was buying whole foods. 27% premium. gaining, giving it back today. that is pretty amazing. yahoo!, trades on its own, spin-off of alibaba. this is the new yahoo! that on very first day of trading. up arrows. david: amazon almost back up above 1000. not quite but maybe tomorrow. thanks very much, nicole. melissa. melissa: oil sliding to end down more than 1% at $44.20 a barrel. its close is the lowest since november 14th. crude is now down close to 18% for the year. david: well, it is a tech titan tur

s&p down 0.7 nasdaq down 0.8% we are called a fraction higher for the dow, fraction lower for the s&p andasdaq things stabilized a bit. that nasdaq decline in percentage terms is bigger than others futures, oil prices, let's look at those we did lose another couple percent yesterday. losing a bit this morning. but not too much 4 43.4 that oil price slide is front and center in peoples minds. >> as for the currency boards, the u.s. dollar broadly, the dollar index remains weak. trading near the lowest level since october. weaker against the euro, just fractionally weaker against the japanese yen. it is a bit firmer against the british pound. at 1.2609. >> ahead of the queen's speech >> is it a market mover? >> it's of note because of how poorly the election went it is when the government sets out it's agenda, it's voted on next week and that vote is crucial for theresa may to get if she fails without the support of other parties, it's a vote of confidence and would have to go to another election. the queen's speech is very important. usually a bold, loud statement of clear legislative agen

the dow and s&p pulling back from the record highs.akdowne the sector is pretty interesting. 10 out of 11 groups falling, led by consumer discretionary. retailers automakers and home builders and energy stocks and oil falling. julia: we just heard from its mcconnell. -- mitch mcconnell. hoping to have a discussion on that health care bill repealed this week. ♪ julia: this is "bloomberg markets." i'm julia chatterley. commodity markets are closing in new york. we begin with a bit of sparkle, gold. futures declining in a choppy trading session. gold closing below its 100 day moving average for the second straight day. as the dollar gains and officials repeat their arguments that monetary tightening despite concerns on inflation -- crude once again under pressure, down more than 2% on oversupply concerns. hitting its lowest level since august. investors will be keeping a close eye on the u.s. inventory numbers. there did mara 10:30 a.m. eastern. they are up by some 2%. -- they are due tomorrow at 2:30 a.m. eastern. -- they are due tomorro

and melissa over to you. david: another record on wall street. the dow closing at new all-time high for second day in a row and second time this year. sew high for 24th time this year but who's counting. i'm david asman. melissa: i'm melissa francis. this is "after the bell." more on today's records. first here is what else we're covering during this very busy hour. biggest name in tech including tim cook, jeff bezos, eric schmidt all meeting at white house now. soon the president will join them for first of its kind tech summit. why they're there, what they're

. >>> record closes for the dow and s&p, closing numbers from wall street here. >>> anybody complaining about the heat? i thing i heard a few moans and growns. >> you know what i learned long time ago? don't qualify the weather as too hot or too cold. there is somebody that loves fog, loves heat. just report the facts, man. >> perfect. >> the fact is, it will get a little cooler tomorrow before it warms up again, by the end of the week on thursday, in fact, just as warm as it was yesterday where the highs were incredible. we set records from san jose to santa rosa, san francisco, concord, thursday could be a repeat performance. bay looks nice out there, though. and right now concord is a good deal cooler than it was yesterday afternoon,. 98 degrees this time. it was around-- my memory, i think around 108 in concord yesterday. 10 degrees cooler today. most numbers were 10-15 degrees cooler, especially closer to the coast you got, and here is why. the low clouds returned in force, it is a fairly shallow marine layer, not very deep, these can be 5,000 feet thick. this is about 1,000 feet,

and a half hours from now. we will tell you what to expect. cheryl: as long as there's no surprises in the may job's report. dow could break today another all-time high record. dow, s&p and nasdaq all closed in record territory yesterday, taking a look at u.s. stock market futures right now, they are positive, the may job's report at 8:30 a.m. eastern time. lauren: in sports, the series that everybody was waiting for, the warriors dominating the calves and in baseball another bad day for the mets as the brewers bad boy interferes with one of their fielders, we will have one of the highlights for you. cheryl: rough week for baseball. lauren: indeed. cheryl: 5:01 in new york. welcome to fbn:am, first look at morning markets, breaking news and what to expect for the day ahead. lauren: asking the u.s. supreme court to revive travel ban. the justice department issuing a statement saying that it is quote that it is well within lawful authority to keep safe and protect our communities from terrorism. cheryl: the move comes after the fourth u.s. circuit court of appeals blocking order last week. the president order bars entry from people from six-muslim majority nations an

the dow up 116 points and basically popped open with higher kind of sat there throughout the day. s&p up 16 by the way, the dow is 281,500. halfway to 22,000. the nasdaq is up 73 to 6225 and the russell up 8. >> shares of saks fifth avenue parent hudson bay popping today. we'll talk to the activist investor behind that move in a first on cnbc interview coming up in had a minute. >> and later is amazon killing the minivan? we'll discuss how the world's largest online retailer may be contributing to the decline of the auto industry. >> hmm. >> you're watching cnbc, first in business worldwide. we created the ripple: the doughnut in a doughnut in a doughnut. right away, it was a success. i mean, it really took off. what people don't know is that it all started with points from my chase ink card. i bought the ingredients, utensils, even custom donut cutters. wow! all with 80,000 points. what will you create with your points? learn more about the ink business preferred card. the power of a low volatility investing approach. the power of smart beta. power your client's portfolio with powe

yesterday a great day for market equities, 0.7 gains for the dow and s&p 500. e nasdaq missing out on a record close, but the best performer yesterday up well over a percent. apple up close to 3% so tech really rebounding strongly this morning, we're in positive territory for the futures markets but nowhere near as strong gains in europe are higher markets are higher but not as strong as yesterday. let's look at the dollar board, particularly the pound, which is down 0.3%. that's after mark carney, the bank of england governor, was dovish about the need for any rate hikes any time soon seema? >> the cannes lions advertising festival is underway where ad giants are debating where to put their money next julia boorstin is there and sat down with a ceo of the largest ad conglomerate. >> we talked to sir martin sorrell about where his clients with putting their ad dollars in the likes of concerns about accountability and brand safety. he said facebook and google which have a big presence here are under growing scrutiny >> there's fake news, there's measurability, th

we'll show you how the power lunch begins right now. >> all those stories and a strong day for the markets the dow and the sll time highs today the dow is higher than 122 points nasdaq is the biggest gain and tech is a big performer today led by micron tech, advanced micro and apple. >> and the defense names continue to hit an all time highs as well including lockheed and raytheon. >> what do you, the public think? >> steve liesman is joining us now. >> yeah, i want to take a look at donald trump's best issues, i am afraid i don't have any news. >> infrastructure and individual tax cuts and reducing business regulations. all of these are a majority in favor of donald trump's stance look at the difference between april and the june survey, he lost grounds quite a bit on infrastructure and tax cuts and you know all of these major issues he lost grounds on in terms of support from the public now looking at the bottom, the worst issues for the president in a different way those percentages of disagreeing and agreeing healthcare of 48 and 44 within the margins there. not terrible in the margins. look at enforcin

. >>> let's get right to it because as the dow and s&p close ever so slightly higher, there was somewhat of a stealth rally in one beaten down group of stocks check out xr up more than 3% it was a number of department stores that actually outperformed, kohl's and dillards up 5% tj maxx, up 4% macy's and j.c. penny both up 4% is that th the start of a retail resurgence let's go to the man who called the worst chart in the whole world. >> it has been for six or so months making it a series of higher lows and lower -- you got it got the point. here's the deal. we are overstored as it relates to department stores they've been going down for almost two years now, the fact we're startingto see these bounce a little bit after a series of strategic deals. back to the amazon purchasing whole foods for $14 billion. the announcement that i think helped nike a whole lot today. that they are going to be opening a store front on amazon, a digital store front. these are strategic deals. they speak to the challenges in retail and when you look at the store, we know this well that there is just way too m

minor pullback for the major averages after the all-time highs that we set yesterday for the dow and the sg for the nasdaq. >> actually the worst day for the dow and the s&p in about a month. >> okay. >> major averages closed around the lows of the session. >> and we always look for thosed by bits, the russell down more that was the biggest decliner there. that had the biggest volatility lately and the oil market down 3% today puts wti crude into bear market territory. now, we should point out that we've got a rollover to the august contract. we're showing july here now at 43 and change, but they are going to the august contract from here on but that pushes it down to a 22% decline from the highs that were set back in january. >> which was a bear market, and now we're at the lowest level for oil since back in november lows of the year, no surprise that energy was the worth performing sector but you noted health care was actually a bright spot. >> health care and utility there was some defense people were looking for something. at least rally attempts. i don't want to make too much of the f

of snap with a bull and a bear >>> welcome back watching markets, day of decliedeclin declines here, but watch the lows from friday, we are at 2425 for the s&p, and 21159 for the dowve 21200 there. perhaps some relief to people in the short term, but, again, declines a quarter percent for the dow and s&p. the russell more than that down, and nasdaq >> above 2400, it's no change in the story, uptrends in tact. >> that was a bigger deal. >> see if it develops that way meanwhile, shares of snapchat higher today, but the social media company saw shares tumble 10% last week after a slew of downgrades they are reportedly working on spectacle glasses to include augmented reality features now the time to buy snap on the pullback let's bring in a bull and bear on snap. guys, thank you for being here shaun, give us the bull case, i guess, in terms of what the company might be showing us in the next couple quarters to get traction with advertisers, and then just the big picture long term you know, why does that need to exist in the ecosystem >> near term, revenues for years to grow. we're not as concerned about that as revenue. when the average user is worth 5% of that of fa

the industry to grow. for "nightly business report," i'm julia boorstin in los >>> and before we go, another look at the 19th record close for the dow this year and the 23rd for the s&p 500. today, the dow rose 92 points, 21,328. nasdaq advanced 44. the s&p 500 was up nearly 11. >>> on that bullish note, that's "nightly business report" f tonight. i'm sue herera. thanks for joining us. >> this is bbc "world news america." >> funding of this presentation is made possible by the freeman foundation and kovler foundation, pursuing solutions for america's neglected needs. >> planning a vacation escape that is relaxing, inviting, and exciting is a lot easier than you think. you can find it here in aruba. families, couples, and friends can all find their escape on the island with warm sunny days,

we had a flat week essentially for the dow and s & p, positive week for the nasdaq up 1.8% last weeke was the best performing sector, energy the worst. this morning higher. san francisco fed president john williams said the fed needs to keep raising rates to keep the economy on even keel, speaking overnight in sydney. warned that if the fed waits too long,the economy will quote eventually overheat. bond market at 2.5%. it has been staying there for the last couple weeks. >>> look at equities around the world, asia higher overnight some prop up from price of oil, higher by about a percent. watching takata, big in japan, going to be delisted end of july anyway, but officially filing for bankruptcy the nikkei is closing higher by a hair hang seng and composite higher green arrows across the board in europe two banks wind down in italy, but it is propping up shares p 2 to 4%. if you look there, you can see reaction in the italian banks. you can see it is interesting, ecb had said if you don't do this, these banks are likely to fail and they're going to step in 17 billion euros. >> import

gains yesterday hope for the trump agenda and big gains for technology stocks feeling a major rally. 133 points. the nasdaq best day of the year. today they are for the dow and sested features under pressure. cheryl: is not that two-day losing streak. a few not the vatican to tell you about the pope's top financial czar is stepping aside after being charged with multiple accounts of sexual assault. lauren: find anywhere? new rules for airport security passengers. hold onto your laptop. you might have to a lot longer in the security lines. lauren: in sports let's make a deal. heading to houston. an extraordinary night for the yankees against the chicago white sox. all the stories for you. lauren: 5:31 a.m. in new york this thursday, june 29th. i'm lauren simonetti. cheryl: and cheryl casone. your first look at morning market in the latest breaking news. train for the first time since the financial crisis, 34 half past the federal reserve's annual stress test and investors could be reaping the rewards. details from adam shapiro. >> at morning, cheryl. good morning, lord appeared to have that has to do with the fact big tanks are announcing huge dividend increase

if you go back to the broader market and look at the three major averages, off of their highs. little changed for the dow and s&p, but earlier we had seen gains closer to a quarter of 1%. the nasdaq holding on to that level in part because of the performance of chipmakers. continuing a remarkable run here. there have been reports over the past week about demand for the company's chips, graphics chips specifically from the crypto currency world. of course, there has been a boost in those. macron and intel also part of the party, both rising. that means the philadelphia semiconductor index is at its highest since 2000 and approaching a record today. that is helping to offset some of the energy declines. mark: let's go to the latest on tomorrow's u.k. election, the candidates making their final pitches. theresa may promising a brexit boost of billions of pounds in state investment. >> who do you trust to have a strong and stable leadership that will deliver the best deal for britain in europe? -- labour government government will be really serious about investment, serious about terror-free access to the market t

the small caps and the transports. i know the dow and the nasdaq and the s&p get really exciting. if you look at the russell and the transports, both are spiking more than the dow, nasdaq, and s&p. they are up 1.5% each. and as we look at the financials, they're leading the rally with all 11 stocks trading higher, investors on the edge of their streets waiting for the bank stress test results. these are new stress tests because a couple of days ago we got the first. new ones will be coming out in 90 minutes, specifically on giving these banks the green light to pay out more dividends and to initiate stock buy backs. that's after the bell. and for all of you online shopping fanatics, you might have to wait for your package to be delivered just a bit longer. federal reserve -- fedex. i'm always thinking fed. fedex stock was temporarily halted an hour ago on news pending that the courier service giant confirming a subsidiary of theirs was hit with a computer virus. no data breach was reported, so we look at fdx shares, they're moving higher by one and a quarter percent but fedex comin

and is being led by technology here. as we see the nasdaq fall by three quarters 1% as the dow and three quarters- of 1% as the dow and s&do better. we have seen nasdaq leaning down on the upside, but more to the downside is it is poised to potentially fall for the month of june. the emergence is also really clear if you take a look at the imap on the map of various 500, the on the s&p map of areas groups. you see big diversions, finance is up 1.4%, and tech down 1.2% today. even though the s&p itself is not much changed, only down a bigter of 1%, you see these sectors, real estate and utilities are also lows are as we see the tenure yield rise for the third straight ashen -- 10 year yield rise for the third straight s&p. and if you dig into financials, the other big theme is the stress test. we have the companies pretty with capitalut return plans that are bigger than had been estimated. he also all cap the stress test. capital one was the one bank that hit a speed bump, and it has conditional approval while weaknessess material in its planning. that stock is down. wells fargo, jpmorgan higher, jb raising its dividends

the big tech stocks and how they traded. they dragged down the nasdaq 0.2%, the dow also ending slightly higher but a little bit dragged down because of -- really the dow and s, seeing essentially not just drag down but also the sentiment kind of the big tech companies fear the big news on friday was amazon buying whole foods. we will go further into that story fears that came right out of the blue at a time when we have nothing a lot of m&a. haidi: we were surprised for the markets comedies of the reaction told in the u.s.. we are watching related stocks in australia. this has already been forthcoming coming under pressure now in this part of the world. politics again this week, brexit negotiations for better or worse getting started, theresa may struggling to hang on to her job after the calamitous election result. uncertainty with u.s. policy again, trump saying he is the subject of a witchhunt on twitter, his lawyer saying he is not under investigation. look at how we are setting up. treating underway, pretty much flat at the moment. we have a position out this week, looking at australia's richest mines, a bit of an update when the city markets open, up

equals not much change for the dow and s&p. l three major averages did close at a record yesterday and still close to record levels. the nasdaq the winner of the day up to 5%. oil prices dragging on stocks. energy stocks were the worst-performing group. oil prices down below $40 per barrel as traders are trying to suss out the effect of the opec cut extension. there was another draw down reported in yesterday's inventories report. there was also continuing uptick in production reported. traders trying to weigh all of these factors. let's talk about the treasury and ethics markets in reaction to the jobs report. we had the u.s. dollar lower by 14%. down fourr yield basis points. ripple effect in the banks. between the double whammy of energy and financials, we are seeing the stock market held back. we are seeing rates at the lowest level since the election. we have a look at the dollar. the dollar in yellow and the treasury yield in white. we also have the 200-day moving averages. with the drop today, the 10-year yield is below t

you're looking any moves in the dow and s&p 500. movers today. ♪ scarlet: not that closing at a new record high. the s&p and dow barely super thursday. testimony.omey joe: if you're tuning in live on twitter. welcome you. scarlet: we begin with our minutes. nasdaq climbing to another record high. dow and s&p closing in the green. .hose are barely gains another day another gain. people just don't pay attention politics. joe: lots of news. not much mark reactions. sort of familiar pattern. scarlet: market was in bond yield. those looked higher. that was good enough to push up the financial. looking at group bank returns on the s&p 500, financials up by better than one%. 1.2%. win you go within that sector, there's 65 financial companies in the s&p 500, 60 of them gained and only five of them declined. that give you a sense of really how broad this advance was within this sector. shares which have been on fire helping to power the nasdaq. climbing by a third of one percent. we should mention as well, there are a lot of individual names

the dow. we're seeing a lot of upside. the s&p and the dow both hitting all-time highs today.companies doing very well in addition. you see the nasdaq is trading best of all, 1.2%. oil also one we're watching closing out the day moments ago down 1.2%. basically you have concerns about too much supply and not enough demand. opec meanwhile continues tlead the effort to cut production in hopes of tightening the market. so far not working there. >>> amazon ceo jeff bezos is five billion dollars short of overtaking bill gates as the richest person on earth after announcing the deal to buy whole foods on friday. mr. bezos adding $1.8 billion to his net worth. check out amazon's stock. people are excited about what this all means for the future of food, up about half a percent, $992.11 a share. time warner will partner with snap to plus shows across its networks. snap is expected to have three shows airing on its platform. time warner says the deal will help bring its content to snapchatters. >>> as dems try to turn james comey's testimony into damning evidence against the trump camp

bouncing around not just on the macro level but among individual stocks and sectors. right now, the nasdaq slightly lower in the dow and s higher by 2/10 of 1%. we do see some lagging in technology today. imap, look at the specifically tech is at the bottom and health care is at the bottom. that has been consistent for the last hour or so. energy has been all over the place today. utilities and telecom stocks leading at the moment. if you look specifically within utilities here today, we have first energy rising. this is the best performer in that utilities index. upgrading the stocks to appear perform from underperform after analyst say they see upside with the wounds of the company's merchant power business priced in and reducing its exposure to that business. if you look at the energy industry, even that overall energy indexes little changed. there are some out performers today and crude oil is up three quarters of 1%. natural gas is really ripping today, up by more than 3% on the outlook of warmer weather coming to the northeast. and one ok are trading higher. it has been raided a new hold, some not terribly bullish

and michelle caruso-cabrera joe is off today let's look at the u.s. equity futures. we are poised to open higher, at least for the dow and s&p 500. e dow is up by 24 points after big gains yesterday. the s&p had the best day in more than two months yesterday. it's indicated up by 3.5 points. the nasdaq had the biggest one-day gain since november 7th. this morning slightly negative financials look to be big gainers this morning after gaining yesterday. we will talk more about that the nikkei looks like it closed up by almost half a percentage point. the hang seng up by 1.1% the hang high up by a half

the dow and s&p gaining more this morning but still seeing some weakness within big cap technology. there have been ripple effects from that ecb conference through the currency market. seeingthe things we are is a continuing climb in yield. big climbing yields. selloffs in the bond market selling bond yields on the 10 year up another two basis points. that is helping banks today. we will get the second part of the government stress tests, which could pave the way for them to return more capital to shareholders. we will get that after the close of trading. one of the potential outcomes could be warren buffett taking a larger stake in bank of america. he has said the bank raising dividends might be one of the things that triggers him. into thiseck on oil morning's inventory report which is under 30 minutes from now. we have seen oil rebounding over the past five sessions. it has been bouncing between gains and losses today. we will be watching gasoline closely and import data, especially given that affect of tropical storm cindy. mark? mark: what an extraordinary day. most of the fun o

coming off a day when the nasdaq was up 0.75% the s&p was flat and the dow down 0.3%.gy was the worst performing sector. oil prices were down almost 2.25%. they just turned around quite significantly in the last 15 minutes. we sat here earlier and wti was flat to down so we got 0.6%, 0.7% bump in wti in the last 15, 20 minutes 42.6 for wt ii. >>> president trump is talking tech at the white house today, but american small business owners want him talking taxes. so far the administration has only offered a bare bones plan for overalling the tax code. kate rogers is in charlotte talking with small business owners he cares what they think, doesn't he >> he does small businesses like melt in your mouth cupcakes say they're hoping for tax reform under the new administration the mother/son team behind this small business say they pay about 3 cent 35 cents on every they make into taxes that's one thing they take into consideration when they decide whether to hire, expand and grow >> we're in the process of trying to open up two new stores, paying the taxes on this one is taki

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