That because there are a lot of people who just think if we can break through that then were going to be able to say when we get a vaccine its just going to be game, set, match for the bulls because we are already at this level without the vaccine i think that today is a confluence of goldman puts citi, wells fargo and jpmorgan in the rearview mirror. Its the old Goldman Sachs model. We have moderna talking up a blue streak this morning on squawk with meg making us feel like inject my left arm, please. We have the Goldman Sachs number that looks like the old days david faber, goldman reminds me of when i dont know, what, 18 years ago yeah. It is a report from goldman that is you can liken to sort of some of the earlier years of their dominance when they were only recently a public company, jim, or really lets not forget their record quarters were actually right at the end of the financial meltdown of 08, 09 remember the numbers they printed then but this is a very Strong Quarter for th
Groups have switched from bear to bull market territory and they still have plenty of room to play catchup. Even when we get hit with waves of bad news. Nasdaq, did okay, quite a difference when i was out there when it was just a sea of red. Stocks opened up terribly. But then the strong bull markets that im talking about, the ones that are underneath, they surfaced, they quickly took over and we rolled back a big chunk of the decline buy buy buy something i pointed out on squawk on the street. When a rally has leaders from many different groups, and the better breath we have, the more kissable this market is, and thats what were seeing right now. Who are these leaders im talking about . Some youre very familiar with, because we talk about them all the time yes, bull market number one, the work from home cohort, which is a cluster of smaller bull markets. Zoom video, and at the orefron are the cybersecurity Stocks Companies need to be about protection when they put everything on the cl
The averages pulled back this afternoon with the dow sinking 170 points, s p shedding. 6 and nasdaq advancing the companies that help you deal with post covid reality take it in stride. Analysts finally realize people are investing in homes like we havent seen since the financial period or maybe a whiff of paint and Stanley Black and decker moving power tools or mortgage numbers. Lows hit a new alltime high 4 just like that and you can get this stuff this is not exactly Rocket Science when youre stuck at home of course you spend money on Home Improvement its a capital, not an expensive when uncle sam writes you a check for 1200. Were in an old enough to repaint moment you buy the stocks of lowes or home depot you cant go out for anything. Movies, no, sports, concerts, nothing. Everything is cancelled gatherings are too risky you stay at home and get a cheap firepit, light up the kings ford, clorox product, wipe down the chairs with cclorox, can you go anywhere without these now . I can
Theres the dow. Its a gain of 242 points. 3208 for the s p nearly onehalf of 1 . Nasdaq there at 9840 liz young, i want to go to you first. For somebody who has been uneasy over the run of this thing, what do you say now i remember our conversations about too far, too fast and now here we are. What to you do this is one of those weeks. Last week was one of those weeks that makes you really be humble as a Market Participant. The narratives have shifted. Now its shifted to participate in the restart what were seeing here, first shs i want to mention that im an investor, not a trader. Im trying to make money over the mid to long term here. Not necessarily on a weekly basis. The technicals of this market would tell you to protect yourself because theres so many stocks trading above their 50day moving average. It feels frothy. If you look at long term fundamentals both economic fundamentals and corporate fundamentals, it still says theres room here and you should buy as a long term i vestnv
About with joe, andrew and becky and the degree to which walmart can post a 74 increase in ecommerce it looks like the big guys won. You basically had them cordoned off as essential services. So many other companies, little companies, medium, small, just couldnt compete this is what happens when you have a survival of the fittest economy. This is darrwin playing out. These numbers are astounding if the stock had not run up every day, i wouldnt know what to do. Add back 60 cents for home depot and before you start selling it thats the costs they said home depot had to keep traffic back they had to hold back traffic because they were trying to do it safely. Walmart had these big stores, they were set, ready, and their dotcom, ever since they bought jet. Com has been amazing they also can do a lot of food these are Great American companies that are on fire the move in walmart is stunning ever since he decided doug mcmillan, who is on squawk tomorrow, decided to creator the earnings in ord