19,000, but is the best still yet to come . Proceed with caution. Soundingone analyst alarms over sky valuations. Lets get to those evaluations. We start back with all u. S. Markets. Big day on wall street. The dow topic 30,000 for the first time. The s p 500 index also jumping to a record. Russell 2000 also. Abigail this reopening reflation trade back on, bringing record highs and big round numbers. Lots of euphoria over the market looking toward the second half of next year. It was like and everything rally for different stocks. Tonically, the only index sit out was the biotech index, theuse ironically it is vaccine and medicine people are so excited for smallcap banks up 5. 3 . Yesterday, apple was kind of precarious. Technically crossing some downside levels, but not so much today. Relative to the real reopening, some cruise lines, airlines sharply higher on hopes that once the vaccine gets circulated into the world, people will be traveling again and also gambling at the resorts.
Small caps having a pretty good day as well. The commentary seems to be the market feels a little tired. Is that how you see it yes i do suspect that the market is fatigu fatigued certainly on monday mornings consecutively weve been greeted with excellent news for society as it relates to the vaccine but markets dont seem to be responding as positively as they did two weeks ago. Scott, you began the show by suggesting that we have a potential end of year run. For there to be an end of year run, we are going to need a catalyst and i suspect its not the vaccine, its not earnings, and it really falls back to washington, d. C. And the ability to try and offer some form of fiscal bridge to get us to the other side in the absence of that, i would just highlight december 15 the and 16th, you have a Federal Reserve meeting. Theres a wild card scenario there where the Federal Reserve steps in and enhances some of the landing programs and provides the bridge in the absence of fiscal policy maker
Proceed with caution. At least one analyst sounding alarms over skyhigh valuations. Lets get to those valuations. We start back with all u. S. Markets. Big day on wall street. The dow topping 30,000 for the first time. The s p 500 index also jumping to a record. The russell 2000 also. Abigail this reopening reflation trade back on, bringing record highs and big round numbers. Lots of euphoria over the market looking toward the second half of next year. It was like an everything rally for different stocks. Ironically, the only index to sit out was the biotech index, because ironically it is the vaccine and medicine people are so excited for smallcap banks up 5. 3 . Yesterday, apple was kind of precarious. Technically crossing some downside levels, but not so much today. Relative to the real reopening, some cruise lines, airlines sharply higher on hopes that once the vaccine gets circulated into the world, people will be traveling again and also gambling at the resorts. These are some of
Has the details. I just spoke with kirk over at isi i wanted his take. He said microsoft is firing on all cylinders, beating all three major categories, Strong Quarter across the commercial franchises it was better than the street was looking for. Kirk said growth is translated into increasing profitability. He said are enterprises willing to spend giving this backdrop and in one of those segments he mentioned 12. 3 billion up 11 . Commercial revenue gross of 20 . Intelligent cloud 13 billion up 20 . And more personal computing, up 6 shares not doing a lot in the after hours. The forecast will be delivered on the call which starts at 5 30 a. M. As josh mentioned, no guidance i am sure every one wonders what they will say about Enterprise Spending especially with the news delivered yesterday what do you make of the quarter . They hit on everything. Josh went through it across the board better, with the Cloud Services area. What we are waiting on now is what is the forecast, what do thin
Ran out of ammo, no more stock left to sell the buyers ran right back in dow surging 440 points, s p pulled 2. 01 nasdaq soaring 2. 71 so how do we explain this incredible rebound as the averages gave up gains after trading . Its easy enough to argue things are better than we think and thats definitely a part of it not the whole thing. It doesnt explain the broad base of the rally. We had a dramatic decline in tech late last week and yesterday and the same stocks roared higher today. No surprise. Last night i told you the sell offs tend to last three days and tech bounces back. Thats exactly what happened what shocked me, though, the incredible buying in the industrial industrials, retailers and railroads. The last being really surprising in other words, we had a rally in both the covid stocks and recovery stocks when nearly everything goes up, youll hear people its the fed or people betting ochon a stimulus package those explanations miss the mark how do we figure out the driver . Fir