Plus, tesla, speeding off to, yes, another record high today what the company said about demand that sent shares into overdrive. Later on, break out the sparklers. Were ushering in the fourth of july with some allamerican stock picks. We will start with 4. 8 million reasons to rally thats because thats how many jobs america created for the economy last month, blowing away economist expectations wall street rallied on the report with the s p 500 finishing the day up about. 5 Something Interesting happened in the market today that we dont often see. We had stocks up, bonds up, the u. S. Dollar up, gold up. So, tim, whats up with todays Market Action . Ill talk about what stocks need to move higher. The macro, again, its not necessarily something to do cartwheels in absolute terms, but in relative terms to where we are, weve taken back onethird of jobs lost we had pmis around the world better this week, housing numbers that were better bonds should be slightly selling off here except for
Measures of the Federal Reserve is leading the way, after spending trillions buying Mortgage Backed securities, corn rat securities, Treasury Bonds all that sort of thing this is another arrow in its quiver that is not really been explored or to my ive been following these bites here, even explain what a main Street Lending facility will be, but the very talk of it did bring us off our lows. Again, just throwing that out there as one of the reasons why we dipped from down about 280 points to now down about 180 points. Lets get the read in the meantime about the worries for the Market Going Forward here, and that will be in another couple of hours or so, the president outlining his plans to respond to china, presumably on this crackdown going on in hong kong and throwing in their concerns the president has about how the chinese handled the coronavirus, something is up which has a lot of stocks that depend on trade with china down. Blake burman with the latest. Hey, blake. Reporter hi th
Economy as well. With concern that it would hurt the reopenings that would have been under way along with another round of infections because of all the demonstrations diane swan tweeted out today, theres little question the events of this weekend will affect the economy what started as a health crisis, but much more. The riots lasted, how long he wrote a long piece saying, its too soon to know how the economy will transition. The timing and trajectory of broad economic recovery will not be altered hopefully we can find ways to expand opportunity, a way that will more effectively tap the potential of everyone. That will be good for the economy long term. The economic story this week, before the issues was going to be about bouncing off the bottom and indeed we have a paradox here bouncing off of terrible numbers to numbers that are still absolutely terrible. The ism today coming in above 43 were looking for 44 its better than the 41 we have. Same story with ism services on wednesday. T
Week as strong results from names like nvidia helped restore confidence closing the week in the green. Its now less than 10 away from its 52week highs. So if youre looking for a way to play catch up with the space, carter has a marvelous pick for you. Take it away thats right. Trade here is to find within a laggard group and semis are good, but they really lag the tech sector by almost 800 basis points and then maher vel. But if few charts so the first is a table just to give the facts and figures. We know there are 30 stocks in the stocks index and we know its value total 1. 65 trillion. Now if you look at the second slide, this is the issue semis are still some 9. 5 their peak and only five stocks have made new highs. Actually the time of write iingm rrk vel closed up 4. 5 big surge. That usually is a good sign. So one of three charts the first. A simple way to annotate well defined tops at a common level move the authority of 28 level and this stock is just breaking out 3 30. On the
Have been a major swing. Check out what Lloyd Blankfein tweeted. Hospitals are not overwhelmed. Most will be exposed anyway since we cant sequester until there is a vax is a Public Health benefit from broad lockdowns worth such extreme damage to livelihoods and what is more important, the potential human lives lost which are, of course, very important or the toll on the economy and possibly irreparable damage to the economy. Tim seymour . Well, look, now, if you think about where lloyd was on april 24th, i follow him on twitter, by the way i doesnt tweet that often and when he does, hes got something to say and a month ago he was saying im not so sure its wise for states to be opening but thats why we have a federal system where states can do what they do and was somewhat critical of georgia. Here he is coming in and talking about a more populous line theres politics attached to this i think theres economics attached and fascinating its whats happening and do think Lloyd Blankfein jump