The dow had been up about 1. 6 , on pace for its best day of the year, nonetheless up 1. 2 now. 500 up a 10th of a percent, both indexes with record highs. Yesterday,down 1. 3 rebounding nicely today as investors are buying mthe dip on the confidence of the mentality that we have seen some much this year. Take a look at the dow. Something else happening. Earlier, when it was up 1. 6 , and it had been the best day of the year, at this point the secondbest extending all the way back to february. After the election we had lots of big rally days, that was one of those days. A very strong day for the doubt and again of the five days in a row. And lets take a look at some of the stocks helping the s p 500. Kroger up 7. 5 . Earlier, up more than 10 . Their best day since 1993. Very positive. They put up a Strong Quarter and they beat earnings by 11 and comps rose. Everybody thought that kroger would be decimated by amazon, but they are doing with a do best, selling groceries and investors the
He tweeted let righteousness flow like an ever flowing stream. Congressman john conyers is the michigan democrat will decide within days whether he will resign a longer for congressman john conyers says the michigan democrat will decide within days whether he will resign. H isdded that conyers healt not the best right now. Party leaders, including nancy pelosi, have called on 80yearold conyers to step down. The eu says that british Prime Minister theresa may has until monday to present its final offer so we can be assessed ahead of a summit in two weeks. Tusk spoke alongside the irish Prime Minister. The irish Prime Minister says that they must guarantee there will be no northern border between ireland and the irish republic after britain exits the bloc. Day,l news 24 hours a powered by over 120 journalists and analysts. I am Mark Crumpton. This is bloomberg news. Julie live from new york, i am julie hyman in for julia chatterley. Scarlet i am scarlet fu. Joe and in joe weisenthal. Jul
As we can see the renewed theme of rotation, rotation out of technology and into financials and industrials, for example, evidence in the dow. S p 500 in the middle, up. 5 , so benefiting by the surge we have seen in stocks related to the tax cuts passed over the weekend. Another way to look at the weakness we have seen with technology in this chart, looking at the percentage of members of Different Industries with 14 day relative strength index above 70. In other words, are we seeing them overbought at these levels . Look at the s p 500 in blue, the percentage going up even as techs have been going down. Indicator forum this group relative to the broader market, that it has been weakening versus the broader market. On the subject of rotation, if you look at some of the weakest names today, they are in the top 10 performers in the s p 500 this year. Align technology, maker of the invisible line braces alternative, we have ma icron, and we also have lam, Semiconductor Makers that have d
Industrial world. At 20 , we will be on the lowest side. We will be very competitive. We will be pretty much below the average and we will be able to compete. Despite all of that, and despite we get before we even get this massive injection, we have a stock market that has hit record highs 81 times since our election victory. It is at a new high right now. Unemployment is at a 17 year low. Shortly it is going to be at a 19 year low. We think the numbers are going to continue to go down. We are getting into the pool of the 100 Million People that is not working. We have a lot of people that want to get to work that will be working. Consumer confidence is at a 17 year high. We have created nearly 2 million jobs. 2 million jobs since election day based on Consumer Confidence , based on enthusiasm. Every enthusiasm paul especially for business enthusiasm and job enthusiasm is that a alltime high. That is why countries are coming back to our country. Toyota came back in. Many Car Companies
Abigail the dow, s p, and nasdaq, we see solid gains. The s p 500 now higher for a fifth day in a row, the longest since early november. That is true for the dow as well and the nasdaq up 1 10 of 1 . Our friends at Compass Point financial think this action could continue, and relative to taxes, you were just talking about the breaking news on taxes, everyone is waiting to see whether republicans get a bill to the president , our friends at Compass Point think it goes through in 2018 or 2019 but is not entirely priced in. If there was somewhat of a stall, that would be a negative. Lets see where it has been a true roundtrip with regard to taxes. We are looking at the highly taxed companies relative to the s p 500 at the time of the election, and shortly after the election when investors were positive on the possibility of tax reform happening quickly. However, on the health care stalls and lots of other policy stalls, these companies have been underperforming. Right now, pretty much bac