Banks, airlines all up while faangs are taking a bit of a break. If you ask me whats the best Case Scenario for the market to the end of the year, i would say this whole narrative about how its like the top five stocks driving the market, i would like to see that come to an end and Everything Else play catch up and start to participate and that is literally what weve seen take place. We had a breadth thrust a week and a half ago where almost every stock broke back above its 200 day. We now have more s p 500 components that are up on the year than down on the year for the First Time Since march i think alphabet is the most recent performer but the faangs are not part of this the whole narrative out of the window that this is index fund money and only microsoft driving this is gone now you have a broadbased rally, not based on nonsense, companies have rising earnings expectations, almost every sector weve even got performance at companies that six months ago you could have made a case to
Of that in about an hour. Apple is sometimes seen as a proxy on consumer spending, entertainment, computer, mass mutual fund reflecting how we all feel and our appetite to buy stuff. Some of this stuff were told could be very, very pricey. Depending how it all lays out, when tim cook makes the announcement, well have a good idea how much americans are willing to fork over if it gets you know, pricey. But again this is not really been a problem for apple in the past, as you have been hearing here. It is the most widelyheld stock on the entire planet. Just amazing. But, all eyes on amy barrett in washington right now, the judiciary committee, taking up her confirmation process to get on the Supreme Court as an associate justice but not without a lot of talking. Not so much on her part, on the questioners part. There are 22 senators, 12 republicans, 10 democrats who have been allocated 30 minutes to ask their questions. That works out to about 11 hours of questions and at the pace theyre
President ial debate. This time we heard mostly uninterrupted from both Vice President pence and senator Kamala Harris. They squared off at the university of utah in salt lake city. Now the candidates were separated by 12 feet and plexiglass dividers. Senator harris requesting the additional safety measure because of the Vice President s potential exposure to the president. As we all know has contracted the coronavirus. The two answered questions from coronavirus to taxes with some occasional interruption. Joe biden has been very clear. He will not raise taxes on anybody who makes under 400,000 a year. Im speaking. Im speaking. The important thing is you say the truth. Joe biden said twice in the debate last week that he will repeal the trump tax cuts. We begin our Team Coverage with jay gray in salt lake city. Jay . Hey there. Good evening, jessica. Good evening, raj. You could tell this would be a. Different debate than the president ial debate last week. Psych the covid protections
Thats the worst performance in two weeks. The dow has been down. Nasdaq have been down five out of six the tech selloff was worst it continued down 3 led lower by stocks like apple the same old story big volatility coming. Those are really the tail thats been wagging the dog for a while. Youll see the nasdaq is lower once again the other two averages hanging in there the s p on the flat line nasdaq down another 50 points. Fur watching what is happening over the last two months they closed. Dow at the lowest level since the third. The 10year sitting at 0. 66 the story that seems to never end, tiktok. Here we go the owner bytedance applying for an export license in china as it pushes for a deal in oracle and walmart. They did not mention the pending deal and technology it was seeking to support calling the deal dirty and unfair they have no reason to approve it all of this raising questions about that prospect and what that would ultimately look like. What happened earlier in the week we
Happened. The bears breathe a sigh of relief. But is it all over as soon as it started . The cash trade is just an hour away so lets see if this has legs. Here are your top headlines. With thes a big blow nasdaq down almost 5 . The s p severs it steepest drop since june. And suffers its deepest drop since june. Bill ackman tells market jitters the National Bank to challenge santander. So, a lot going on today, as well as german factory orders. They are now out. Ofth over month, the gain 2. 8 not nearly as much as a survey, which was 5 . Over the prior number, which was 27. 9 . Yearoveryear, its a drop of 7. 3 , which is worse than the survey drop of 6. 0 . And a slight improvement from 11. 3 on the prior numbers. So during factory orders german factory orders not shining light on this. Just under an hour away from the start of cash equity trading. Futures are down in europe. And remember, yesterday we were looking at gains on the dax of more than 1 . Then we closed losses of more than