Dow topping 28,000 today for First Time Since february. Its the value trade thats working. Is the rotation for real i think as long as you have confirmation in the bond market, you can believe in it but when that link breaks, the stocks the value stocks probably crash again. We witnessed an episode like this that happened from the middle of may through the middle of june. It was almost a full four weeks. It was violent to the upside value stocks, cyclicals, the quote reopen names Small Cap Value did incredibly well the Growth Stocks took a pause the high flyers corrected but when that ended, it didnt end gently you had crashes in the reopen stocks you had crashes in the value stocks both asbestbsolute and relative to growth its a Real Recovery if that link breaks and i know yields have gone up a bit here and abroad as long as that continues happening, im fine with it. I think you have to watch that more than commentary, more valuation, more than anything else jpmorgan had a great note
To get things started off. The dow is down by 17 points but the s p and the nasdaq is there. Nasdaq is indicated up by 47 points this is after a strong month of july for all three of the averages the dow up by 2. 4 for the month. The s p saw its best july by ten years. It was up by 5. 5 . Thats nothing compared to the nasdaq today is the first trade ding d of august. Thats out at 10 00 a. M. Eastern time today also take a look at treasury yields you did see yields under extreme pressure or ten year closing at its lowest level since all the way back to march 9th. Right now it is a little bit higher 0. 546 stimulus talks in congress. Trump administrations officials and House Speaker nancy pelosi are set to resume negotiations today on their competing visions of a bill. The Sticking Point continues to be a boost set at 600 per week in march that lapsed on friday he and Speaker Pelosi are on the same page about the need of direct Cash Payments of 1,200 to most americans. Andrew. And big co
The law and protect their property amid growing violence over the weekend. Finally to philadelphia, Major League Baseball facing Major Concerns amid reports that the yankees versus phillies and marlins versus orioles games are postponed tonight after a coronavirus outbreak. Well discuss all this coming right up. But first, Top Senate Republicans expected to take their second crack unveiling a new round of covid stimulus. Well talk, well be talking about Mitch Mcconnell coming up. He is going to be able to get his caucus on the same page with the white house, or at least those are his plans. Some democrats as tens of millions of americans are on the verge of losing Unemployment Benefits this week. Fox news Congressional Correspondent chad pergram has very latest on a last minute deal between the white house and senate republicans. What is it going on, chad . Reporter they have to try to get all the republicans on board first. The republicans here are really negotiating with themselves,
Doses ready to ship once they get the green light and speaking of green light, joe biden wants to go ahead and raise Corporate Taxes, he is tapping his inner Bernie Sanders and outlining his economic plans using terms like fair share and calling for an end to what he calls shareholder capitalism. We are all over that story you can bet. We may hear the president s response to mr. Bidens plan shortly, he will be leaving for an event in florida this hour. We expect he will speak to reporters before boarding marine one as he likes to do and you will certainly see that right here when it happens. You will also see very little let up in the tech rally, despite theyre down day overall, the big tech names holding their own with more record gains. Amazon, it is hit an alltime high for six days in a row. Not bad. Apple, not much of a pullback of the stays above 380 a share, same story for microsoft, not much of a drop there, for microsoft still at 213 box. Facebook is above 240, despite constant
And. Tax us taxes tax us a group of 1000000 as a government to raise taxes to fund a coronavirus recovery they say charity is not the solution but will governments unsub a call and how popular is this idea this is inside story. Welcome to the program im laura kyle the Coronavirus Crisis seems to be spinning out of control on thursday the world record of its worst single day rise in infections almost a quarter of a 1000000 in just 24 hours cities that had declared a tends to victory a falling back on the look down one by one. The return of restrictions is an Economic Disaster for many countries already suffering from the 1st wave governments say theyre doing what they can and some of bailing out flatlining Industries Others have chosen to spend big to create jobs encourage spending and reduce individuals debt well as others have chosen well for a Public Sector cuts as well as a rise on v. A. T. But all these measures are not permanent fixes and theyre expensive with the money having to