I know that chips are not, of course, a specific Coverage Area this is a big deal at a very confusing time for many in the market what do you take awa from a move like this and what sorts of changes or adjustments do you see . It is very, very interesting. Were in the middle of a pandemic, but it dung change the fact that a lott of companies are doing deals and acquisitions there is still strength and still a lot of people making money in this market there is an area that we need to participate in, talk to our clients about actively and want to move some and shift some cash over to different areas to make sure that we also participate. Often when things happen like the nasdaq getting into New Territory like this, this is a stock pickers market we have to look at individual opportunities. Do you feel that way and if so what are you looking at . Sorry, that is for scully for us it is always a stock pickers market, frankly. With that said if you look at the internet and Digital Media grou
It all about the guidance as well will we get a big ozark on netflix. Their numbers are coming out big banks as well. Everybody, a big week for earnings welcome. A big day for the markets as well let us begin with the rally on wall street. The nasdaq hitting record highs. A bunch of big Tech Technology names. Continue to make new highs when you look at this market could you ever predicted four, six, eight weeks ago that we would have gained 20 and 30 in matter of weeks even as the country continues to talk about reshut downs for 30 of our economy of course i saw this coming. Didnt we all see it coming. What i hold here are fundamentals this is an income statement. This is a Balance Sheet statement. Take it and rip it up because right now fundamentals are not fundamentals technicals are the fundamentals. It is driving the nasdaq continually higher i want to emphasize for a second, tesla. Think about this on friday, tesla will expire the 2500 call that is 750 higher than where we are tra
Recently as the country reopens, arizona has been easing lockdown restrictions over the weekend on salons and on restaurants. The mayor of scottsdale will join us. Kelly, back to you as you mentioned, tech stocks are out performing today once again as the market climbs back toward record highs but a number of other sectors have been left in the dust. Bob is here with more. Bob. Lot of disparities out there. Its not everybody up. I want sthto show you the s p 5. Were trying to breakthrough multimonth highs. The s p 500 moved up off of that if you want to keep an yien that because were knocking on the door there of breaking out here. I mentioned the laggards efb says the s p is only 12 off the highs. Bank stocks have had a very ugly time 40 off of their recent 52week highs. We have seen energy stocks, 30 off of their 52week high. Theres been a lot of sector laggards out there industrials 25 . Reits, 24 cyclicals all lagging here out performers, mostly lets call them defensive names. Cons
Kelly. The dow shedding 5 in lets get to bob for more on this sell off. Bob. I think the key here today is oils impact but its impacting things outside the oil market. Leets ta lets take a look at the sectors. The two biggest that are out there, tech and financials are the weakst ones. They will put pressure on the s p 500 because they are a big part of the overall market capitalization industrial is also weak. Energy is not among the big pressure points in the s p 500 today. I want to poipt out some of these big momentum names that have helped in the tech area in the last few days. Generally, weak today. Advance micro, starbucks these are momentum names that have done well recently and they are having problems today. The futures contract highly showed you that. Its remarkable to look at an 8 future track as 18. Thats an enormous spread were looking at here. Some of these Tanker Companies have having a tremendous day to the up side. Soc some of these Energy Futures just all over the pl
Lunch. Take a look at where we stand with the markets stocks are higher across the board as investors brace for the busiest week of earning season thus far the s p pacing for its best month since 1991, if you can believe that thats as Oil Continues to crash. Crude down about 20 today supply over flows and demand craters in our calmed economic world. As america looks to reopen the economy grads yually, purdue sas class will be in session this fall the University President Mitch Daniels said there is zero lethal risk or close to it for students he will join us shortly. Kelly, over do you thank you more than 140 S P Companies and 14 dow components are all reporting earnings this week lets get to bob with the latest it will be about quarter of the s p 500 reporting. We already got a kwooquarter reporting. Its confusing nobody has any idea what will happen in the Second Quarter in the Third Quarter a lot of people are dismissing the estimates. This story is the dispersion in the estimates a