Nightly Business Report

Stocks are rebounding today after posting their biggest selloff of the year. We’ll tell you which sectors should drive the next move in markets. Plus, Bitcoin is back below $30,000, but Fidelity says institutions are still bullish on crypto. We’ll explore the firm’s findings, including what’s keeping some investors on the sidelines. And, in today’s Rapid Fire: can Netflix keep growing? Is Apple buying a movie studio? And the Nasdaq wants to give you access to pre-IPO companies.

Concerns that the Delta variant could slow global economic growth sent stocks sinking, with the Dow on pace for its worst day of the year. The 10-year yield, Bitcoin and energy are all tumbling along with reopening names, while “shutdown stocks” are on the rise once again. We’ll bring you full coverage of this selloff, and explain why some strategists believe this could be the start of an even bigger correction.

If inflation is the fear, why are interest rates falling? And if rates are falling, why are momentum stocks sliding too? We’ll speak with one strategist who says he has the answer to any confusion about the economy – and it’s a bullish one. Plus, we’ll talk to the head of one company that’s gotten a big boost thanks the pandemic as it makes its public debut today. And, in today’s Rapid Fire: Square’s crypto pop, Musk doesn’t fear a Cybertruck flop and billionaires’ spending can’t be stopped.

Child tax credit payments are rolling out today, with some families receiving more than $400 per month on average. Is this a major step towards establishing a universal basic income in the U.S.? We’ll ask Melissa Kearney of The Brookings Institution. Plus, controversy is growing around Biogen’s newly-approved Alzheimer’s drug, with two major hospitals now saying they won’t use it. We’ll bring you the latest details. And, Goldman Sachs is launching a sustainability-focused ETF called the Future Plant Equity Fund (GSFP). Co-Head of Fundamental Equity Katie Koch explains the wealth opportunity she sees behind it.

The latest inflation data came in hot, with the Consumer Price Index up 5.4% in June. So why are stocks rallying today? We’ll ask our market experts. Plus, historic protests are underway in Cuba. We’ll bring you the latest details from Havana, and explain why it could have implications in Venezuela & Nicaragua next. And, in today’s Rapid Fire: crypto trading cools off, the government opens the financial floodgates and we explain why Elon Musk hates his job as Tesla CEO.

We’ve hit new record highs for the Nasdaq & S&P 500 again today, with the Dow not far behind. But we’ll give you one stock you can still buy at a discount. Plus, billionaire Sir Richard Branson blasted off into space this weekend, with Jeff Bezos right behind him. So why is Virgin Galactic selling more stock? We’ll explain. And, in today’s Rapid Fire: TikTok tells users not to talk crypto, and while Bytedance backs away from an IPO, two grill rivals are preparing to bring the heat in their public debuts.

Stocks are rallying and bond yields have stopped their big slide. But could the low 10-year yield have investors looking for opportunity in junk bonds? We’ll explore. Plus, President Biden is signing an executive order aimed at big tech companies. Should Facebook, Amazon, Google and other titans be scared? We’ll discuss. And, in today’s Rapid Fire: the future of working out, RBC swipes right on online dating stocks and France & Russia are in a wars of words over champagne labels.

Stocks are falling from record highs on concerns about the global economic recovery, though they’re off the lows of the day. Where do we go from here? We’ll debate. Plus, big tech names are lower across the board. But they’ve all had a good run lately except one: Netflix. What’s going on with the streaming pioneer? We’ll discuss. And, bond yields are falling in tandem with tech today, with the 10-year yield hitting a low of 1.25%. We’ll speak with one expert who’s predicting a bond rally to the upside from here.

We’re just an hour away from getting the minutes from the latest Fed meeting, where the FOMC started to sound hawkish. We’ll debate which way rates go next. Plus, Chinese stocks are selling off again today. Did U.S. investors overestimate how committed China was to capitalism? We’ll explore how ‘welcoming’ (or not) it’s becoming to outside investors. And, in today’s Rapid Fire: more people are paying with crypto, some people are working less but getting paid the same, and Credit Suisse is betting more people will begin drinking hard seltzer.

China is cracking down on its own companies, starting with ride share firm Didi. Why are they doing it, and what does it mean for investing in China? We’ll explore. Plus, the OPEC nations met but left without making a deal. With oil already at 6-year highs, could $100 per barrel come next? We’ll ask Jeff Currie of Goldman Sachs. And, big tech is getting a boost with Amazon, Microsoft, Alphabet and Facebook hitting all-time highs despite growing regulatory scrutiny. Is the growth trade back? We’ll debate.

The economy adding 850k jobs in June, does this move up the Fed’s tapering timeline? Bank of America’s Head of Economics, Michelle Meyer, weighs in. It’s Bezos versus Branson in the race to space with Branson poised to become the first billionaire to fly to the stars…we have the details. And Jeff Bezos will have plenty of time on his hands soon as he steps down as Amazon CEO, what the company looks like without him at the helm. Plus, Uber offering big driver incentives as it faces a shortage, GM’s big EV investment and bitcoin mining made easier…all that in today’s Rapid Fire.

Chinese President Xi-Jinping just delivered a fiery speech aimed in part at the U.S. We’ll explore what it means for doing business and investing in China. Plus, lumber prices have gotten chopped in half since hitting their May peak. We’ll explain why it’s happening, and what it also says about inflation. And, in today’s Rapid Fire: Instagram wants to be more like TikTok, Robinhood wants you to use Robinhood to buy Robinhood stock, and Krispy Kreme goes public.

One of Sir Richard Branson’s space companies launched satellites into orbit today, while the other just got cleared for commercial travel. Will he beat Jeff Bezos into flight? We’ll ask him. Plus, Bed Bath & Beyond CEO Mark Tritton has made it his mission to clean up its stores. The early returns are good, but can the stock return to its Reddit-fueled highs? We’ll explore. And, while SPACs have simmered down lately, the IPO market is heating back up. China’s Didi debuted today with Legal Zoom, SentinelOne and Krispy Kreme all on deck. We’ll discuss.

Biogen’s new Alzheimer’s Disease drug is being hailed as a medical breakthrough. But could its $56,000 per year price tag be too much for Medicare to handle? We’ll debate. Plus, home prices just posted their biggest gain in the history of the Case-Shiller Index, up 15% in April. Can the hot housing market keep rolling? And are investors actually driving up prices? We’ll ask Coldwell Banker’s CEO. And, record gun sales are leading to an ammunition shortage across America. Can the manufacturers catch up to demand? We’ll explore.

The Nasdaq and S&P 500 both hit record highs today. Will we ever see a pullback in the market again? We’ll ask the experts. Plus, it seems electric vehicles are here to stay. One analyst joins to explain why he’s betting on Ford as the next big winner in the EV space. And, shares of Blackberry have nearly doubled this year as the company gets caught up in ‘Meme Mania.’ Is the rally for real, or just a Reddit-fueled spike? We’ll debate.

Both growth and value are moving higher this week, 10 of the 11 S&P sectors are in the green and commodities are climbing…so where are the opportunities? A strategists reveals his picks. The Biden administration extended the eviction moratorium through the end of July, we discuss what this means for the small landlords who are still awaiting federal aid. And as more people return to the office, we look at the future of work with a former Yahoo! executive who had a change of heart on the importance of the office.

Listen to the day's top stories, the must reads & a whole lot more for today's modern investor.

Microsoft just became the 2nd member of the exclusive $2 trillion club. Could it surpass Apple as the top tech titan next? We’ll debate. Plus, one strategist says following the investment crowd into growth names and big tech is a mistake right now. He’ll join us to explain why. And, in today’s Rapid Fire: a retail stock that could rally 50% from here, Warby Parker “eyeing” a direct listing and Alcoa’s market revenge.

Federal Reserve Chair Jerome Powell is set to testify today, as investors weigh his words of continued support against changing course. We’ll bring you the latest details. Plus, we’ll reveal what one economist says is the number one thing the Fed can do right now that would be a complete disaster for financial markets. And, Bitcoin briefly dipped below $30,000 for the first time since January amid another volatile session. Will it ever get back to previous all-time highs? We’ll debate.

The Fed’s heightened concern about inflation ironically sent the bond market headed downward, with yields hitting multi-month lows. We’ll explain why. Plus, Amazon’s Prime Day kicks off today and while the products may be cheap, the stock’s been the real bargain. We’ll give you three name that could be the next big scores. And, the chicken wing shortage has gotten so bad, Wingstop is now launching a new brand: Thighstop. We’ll speak to the CEO about its pivot to new offerings.