The best performing s p at the moment i have my eye on a few techish stocks this morning for different reasons. First box is up better than 5 6 , actually, after earnings an echo of what we saw from sails force. And then, tesla. That stock now well higher than 400 billion dollars in market cap. So you wonder where that one goes it has certainly been a storied stock of the market so far and then along the lines of the idea of reopening disney, trading now where it was about a month ago. The rise of skywalker came out 135 her share, dei rrrdre still down about 6. 5 lets begin with a big tech story of the day tiktok Ceo Kevin Mayer leaving the company. He said in recent weeks as a political environment has sharply changed, i have done significant reflection on what the corporate structural changes will require and what it means for the global role i signed up for. Against this backdrop, and as we expect to reach a resolution very soon, it is with a heavy heart that i want today let you al
Curfews have lifted in many cities but remain in new york as we go into another weekend of protests. A Record Number of National Guard troops have been deployed. The mayor of washington, d. C. , has asked President Trump to withdraw troops. For what it means i want to bring in abigail doolittle. Talk about the ups and the downs today. Abigail investors squarely focused on the jobs report that came in better than anybody expected. The estimate was for a loss of 7. 5 million jobs. Instead we had an ad of 2. 5 million, which is great news for folks in those new jobs and for the folks who did not lose their job. As for the stock market, of course we had this debate about whether stock should be up so much since the march lows. This Economic Data, you could make the case that stocks have been right. Who was such as myself questioning stock should be high against the real world is wrong although one month does not make a trend. Lets see if that continues. Some say there could be more waves a
Markets. All i have to say is, what a risk on rally we are seeing. The mystic stocks are the big out performers. The russell is outperforming the s p 500 for five straight days. Lift up of 10g a basis points on the 10 year, the highest since march 19. I cannot remember the last time i saw a 90 basis point print on the 10year. Further weakening on the dollar, weaker for seven straight days, nine of the last 10. You wonder what that means for the fed Going Forward. Lets get perspective from kailey leinz. What do you take from this market rally . Kailey i want to start with technology. The nasdaq composite is set for a record close, as is the nasdaq 100. If we can see how that index has performed this year, it is like this a lot never have been. Now 2 above the record close in february. You can bank microsoft, amazon for those gains that we have seen. Positive by now 12. 5 on the year. It is not Just Technology outperforming. It is the more cyclical growth sectors that are leading the way
No matter how much you might be tempted otherwise, netflix today after that disappointing quarter. Just became the hard money on a day where the averages seesawed in response to earnings, s p gaining 3. 6 , you need to understand how a stock can go from easy house of pain to hard the house of pain and pin action from that particular move. Can rightly or wrongly impact a host of other names as Portfolio Managers try to wrestle with the consistent company that is suddenly become erratic. And that, ladies and gentlemen, is netflix look, we all know the story. Most of us love easy netflix they like lots of older programming to bring you in and add in brilliance to keep you hooked they can make some truly great stuff like Stranger Things the latest season has president been out for a month and already its been watched by 40 million households however netflix had truly heinous numbers. This they didnt grow subscribers in the u. S. , they lost thats the first time they lost since 2011 earning
A cash spinoff his criticisms of bitcoin like the high transaction costs and amount of time it takes to complete them came as a shock to many and those surprising comments come on the heels of more bad news for crypto currency with one Major Exchange in south korea shutting down and filing for bankruptcy after suffering its second cyber attack in eight months the appian which operates the seoul based you but exchange ceased trading on tuesday in a statement said the latest hack caused the company to lose seventeen percent of its total assets but didnt specify the financial value of its losses. And in the latest round of merger news were seeing big moves in the food and Health Care Industries the new jersey based Campbell Soup is spending four point eight seven billion dollars to North Carolina based snyders lens is known for its healthy snacks like spiders of hanover kettle brand and pop secret all. Which will become part of campbells division that makes Pepperidge Farm and goldfish sn