Good. You were with us last on march 23rd you said then, this could be near a bottom. You said that you were, quote, nibbling and it was time to buy a little if you were a longerterm investor are you surprised how far weve come and how quickly weve gone there since that day yeah, its been a bigger move than i thought it would be, for sure but look, theres been a lot of fed action and a lot of government packages since that day and on that day and since that day and, you know, a lot of that probably moved the market than it has the real economy up to this point. So those things happen now the question is, whats the right value for the market now well, thats an interesting question your friend, stan drukenmiller yesterday said this was the worst the risk reward for stocks was maybe as bad as hes seen it in his career. Hes had a long career, david. So do you feel the same way that stanley does how would you put this into context now as to what the right valuation for the market is . Dans
Good morning, everybody welcome to squawk box on cnbc. Im becky quick here with joe kernen and Andrew Ross Sorkin. A gain of just over 1 the dow now at 25,000. Now the dow is indicated up 162 points the nasdaq closed at its highest day. Now about 2 from its alltime high thats the run youve seen since the lows back in march treasury yields. Theyve ticked a little higher the 10year looks like it is yielding 0. 75 crude oil prices yesterday, crude was up about 4 percent on this expectation that opec plus especially russia will extend those cuts put in place that was good for 4 as seen yesterday. Crude up by 1 to 37. 16 all of this against a tricky back drop. It is powering higher well talk to a lot of folks that will help us through this the need for Solutions Former white house and ceo of j j and they have big news on all of this. Getting an update of what has gone on. Reporting a day of mostly calm in washington, Late Afternoon in st. Paul, staging the protesters protesters ran past the
Right now . What will it be like if you go aboard thanks markets are taking a breather after a huge bounce back from the lows lets go to bob for more were down a bit today. Its still five to four advancing the declining stocks on the New York Stock Exchange the trend is up. I want sthto show you the s p 5. There was some china headlines a lot of very sense tiitive this going on beijing threatening with Counter Measures President Trump was blaming china for global coronavirus this is one of the five buckets we keep emphasizing. Its around the reopening. Its around monetary and fiscal stimulus thats a big issue its around treatment in vaccine. Those are the big three. This is what i mean by broadening you see the russell 200 out performing industrials out performing this is a broadening of the rally. Even the banks are up a bit today. This hasnt happened in the past many times one laggard is energy. Thats a little disappointing. Retail, a big day. A lot of them are doing well i thought t
Midmarch. Well get to macys and more and oil above 34 as the reopening drives demand. Jim, you just said to joe the reopening is working and Even Companies like ford that might have to send a few workers home on a given day are finding ways to adapt look, things are a little better his is the depression taking off the table. A lot of people seem surprised when you get an expedia number where they say theres a little more travel, and best buy is able to do a good job doing curbside pickup. People turned out to be more inventive. We heard that from Brian Cornell yesterday, and hell be on the show today facebook being inventive a lot of people have figured out a new way to do business in a pandemic and i think its vising because we didnt think it could occur im not predicting some sort of gdp revival, but i think that ingenuity is playing a big role in this particular moment when it comes to the pandemic i do want to get quick to some Home Building because theres some numbers out that 41
Is a good way to prove you havent disappeared. So, well, first of all, we documented the pregnancy, and thats right, joe biden appeared making a special i loved on snapchats daily political Jerry Seinfelds comedian show yesterday seth yes, great film they were only able to tell it creating his special. Was joe biden from the thumbprint and so its kind of like that if he had been pregnant and we dont know that he the fbi has seized the cell wasnt, actually phone of republican senator seth thats true alexander hammer richard burr as part of an investigation into whether he yes, he directed it and is used information from a editing it coronavirus intelligence briefing to sell stocks. He edited beyonces its also incriminating that homecoming. Right after the meeting, he he is really, like, creating it signed up for netflix and hulu and shaping it and were really proud of it and we hope people like it so, he knew something was seth i cant wait to see that coming i cant look at that, just ac