Albertsons ipo. All of the stories that we cover so closely i know. And banks already rallying today off that deregulation news earlier on the day theyre up 1. 6 at the moment. The top of the s p 500 sector. We have a huge show coming up on closing bell. On the day, we get the stress test results that sara mentioned. Well be talking to the ceo of barclays in a rare exclusive interview. Thats just about five to ten minutes away after the close, the they will join us this is the sign for the first time in months so lets get the pictures here mike santoli is here for the markets. The moves and valuations he is tracking the surging covid19 cases across the u. S. Mike, first to you. We have a pause today in the markets within a pouz. That is similar to a couple weeks ago. We this that big down day number real sustainable followthrough to the down side why is that . It doesnt seem like theyre overleveraged in a way that kree auts a liquidation cycle on the down side. There you see that flat
Drop coming up on todays show, were taking a look at how a number of Different Industries are getting back to work in america. Well talk hotels and travel with the ceo of best western plus, walter rob, the former coceo of whole foods will weigh in on grocery trends and well talk about the state of the consumer lets kick things off with a Broader Market a choppy day to kick off the trading week pretty positive. Right near the session highs as we stand on track for a record close for the nasdaq composite actually kind of a quiet levitation out there the average stock not doing much of anything. Volumes are low. But v but the Growth Stocks are powering higher. You see a one year of the s p 500. Its about a couple weeks ago that the enthusiasm for that reopening really seemed to crest for a little while since then, the old Growth Stocks, if you look at the top of the dow right now, its nike, apple, walmart, visa, microsoft. These are the days when the observation that Great Companies remai
Brazilian debacle, has been resolved and were now free to buy, buy, buy with the dow gaining 32 appointmenpoints, it was the dows sixth straight day in the black. Thats the strongest streak since february. Too good to be true . There are some things that are nettlesome that we need to vet them right at the autoptop. Lets talk about debt ceilings and government shutdowns. With the demise of the republican speaker vote comes the prospect of a government shutdown. As early as monday you will start hearing about the possibility of a shutdown, an unmitigated negative for all stocks. As i say in get rich carefully, theres a cycle that occurs in these political fiascos. The moment people Start Talking about them, we begin to worry about disruption in washington that always spills over to wall street. Lets keep our eyes and ears open so we can tone down the bullishness if we start hearing this chatter. Heres the drill weve heard in the past. You sell, when you hear when a shutdown is going to
Dont even bother to ask questions later because theyve gotten things so wrong. This market is littered with those kinds of mistakes, including today. Nasdaq gained. 38 . When i first got into this business there wasnt a rush for reporters to report the consensus estimates created by wall street analysts. These days they see if the sales and earnings are better or worse than expected. Once theyve compared and contrasted, they pull some reason, some folderol from the release, to explain it, then boom, rapid fire posting, dont look back, on to the next company. We see this sort of thing this years. This week, there was four of them that were like this this year. It creates such a rush to judgment with so little time to breathe hthat people end up losing fortunes, trading off these slipshod bulletins that purport to say what really happened in the quarter, like you could really figure it out in 140 characters. Hasbro reported today. The vast majority of these Companies Said it was a good b
Purport to say what really happened in the quarter, like you could really figure it out in 140 characters. Hasbro reported today. The vast majority of these Companies Said it was a good buy. It keeps churning out hit after hit, and it capitalizes off of hit movies. Despite those headlines hasbro opened pretty much unchanged. Shouldnt it have opened big . No, it turns out, because when the Company Conducted its Conference Call, we learned things are not going all that we will at hasbro. At cfo deb thomas told you after flowery discussion, and a quote, owth in preschool categories decline in game and girls categories, end quote. Whats that mean . You keep listen and old franchises like monopoly and other timehonored hits were more than offset by declines in a number of brands like my little pony. Ouch a number of brands . More than offset . Thats real suboptimal language. How weak were the good friends that they could be overwhelmed by the bad ones . Lots of people bought hasbro because