Is it time to bet on stocks that thrive and rebound in the economy . Thats what todays action said. Dow gaining 359 points the s p rising 1. 47 that was easy ooh, and the nasdaq advancing 1. 1 buy, buy, buy with many of the biggest losers of the year leading the way. [ moo i say not so fast. Look, we all want to go back to normal even after we lift the lockdown, the new normal will be different from the old normal. Im tired of the cliche, normal this, normal that. Things have changed for starters the new normal is less investable i dont think it makes sense to fall into the gap of Carnival Cruise or attend live nation concert. The streets roared theyre compressed springs given how far theyve crashed, i think theyve got more legs to them hey, if i were a Hedge Fund Manager id do these stocks by tradein state by state openings if i were an investor like you, i would let them run if i was stuck in them, then escape for the stocks well be talking about later in the show. You have to unders
370 but did end the day lower. It was the first down day we have seen in five trading sessions well watch what happens today we have a fed meeting coming up. That will be the pla is to watch as we hear from the fomc later today. The 10year just below. 6 a month. This has been the best month for the dow in 18 years because we are coming off of march because that was the worst year for the dow in 22 years. You see these huge swings first down and then up what we are watching in the equity markets the one thing about 10 crude, every dollar it goes up, we could go back to 30 every day. Lets use the dollar every day that might not happen. Equities do seem to do better. Thats a lot of room to go. Maybe. But sooner or later, thats not good either. The move came after data from the American Petroleum institute. Showing that crude jumped. That was 600,000 barrels less than expected. We saw some wild swings yesterday all around these low levels 10, 11 14 today, as you can see market stocks gave
Ahead of most of the earnings. Generally seen declines across the board in a pretty broadbased decline as well. The dow has been a performer recently, but its facing declines and other major averages today. As a result, if you take a look at the bloomberg, were looking for the worst single day for the dow in about seven weeks. The realm of same for the s p and especially the monastic as well. At least at the lives of the session for today. Just a. 5 decline, its been a while since weve seen a drop like this. If you look at the worst percentage decline in the dow, only one of them has directly to do with earnings. And that is boeing. The company delivered a Record Number of planes and earningspershare beat estimates, however, one of the things that holding it back is the fact that its that is been developing for the u. S. Air force has been delayed already is delayed again and cost rose 329 million, and sales also fell in boeings commercial division in boeing as of about 65 year to date
Why . Because of comments out of the delayed speech. Mark carney seemingly talking of holding off weight kite rate and weaknesses in domestic inflation pressure. This affects the u. K. Yield, so bonds are rallying. Up about. 1, but not seeing that correlation we usually see with the british pound. That seems to have broken down and barclays, down. 25. Four former executives charged of conspiracy to commit fraud. We will be taken that further as we go on. We have had a weaker day for the pound. This is on the back of england government saying they are worried about the impact of brexit on the economy and mark carney signaled they will not be rushing to raise Interest Rates. Given the mixed signals on Business Investment and Consumer Spending, and the inflationary pressures that are subdued and anemic wage growth, now is not yet a time to begin that adjustment. Francine joining us is , and they willr give us their take, simon, it seems as though from philip view,ds points of finances rea
Yesterday was a standout day. It was the best day for the dow since may 19th the best day for the s p 500 since may 24th and the best day for the nasdaq since december 11th of last year. Things are looking cautious at the open overnight in asia, the nikkei finished up by 0. 8 . The hang seng and shanghai were weaker hang seng down by 0. 3 in europe, some of the early trading thatsalready taken place, you can see right now it looks like there are some modest advances for many major indices. The dax and cac are up the ftse is flat crude oil prices were under pressure yesterday crude settled at the lowest level since november of last year it was down 54 cents to 44. 20. This morning its down another 8 cents. Testing that 44 level at 44. 12 you got the beach on your mind a little bit. Okacean i was thinking ahead to stocks i have not had coffee yet. Following a developing story in barclays. Uk authorities filed criminal charges again the bank and four Top Executives under undisclosed payme