Johnson johnson better than expected, it doesnt matter. Taiwan semi last night fantastic, doesnt matter. Apple price bump doesnt matter. When you get like that that says, let the sellers get their job done, there is some agenda here, theyre obviously not caring about news, not reacting to better retail sales or jobless claims down again. Every time that happens theres usually a great trend up someone is a seller. There is big money that wants out right now, i think a lot of people are confused about whats going on in nasdaq, amazon down 10 since the week began consequently there is no bid underneath no matter what the companies say. That will change probably midday i think its an okay day all right well see, jim obviously we talk about the market looking forward through some of the news flow and, you know, you take some of the Bank Commentary about second half growth versus first half,its not nearly as constructive and we will see whether gorman backs up what citi and wells and jpmorga
A step in the right direction. Whatever your cup of tea. Were following reaction about the Senate Republican plan to Reform Police departments across the country, without getting too involved how they go about daytoday business. That is source of criticism for democrats saying they dont go nearly far enough. Hillary vaughn, back and forth on this out of washington. Hey, hillary. Reporter congress has dueling bills that address Police Brutality while the house is marking up their reform package that republicans in the senate today, introducing their response. Senator tim scott leading the effort today, saying his proposal goes hand in hand with the president s executive order he announced yesterday. Too often were having a discussion in this nation about, are you supporting the Law Enforcement community or are you supporting communities of color this is a false binary choice. The answer to the question of which side do you support, its i support america. Reporter to strike a balance bet
Peter navarro meant to say on fox last night. There was a little confusion. I think that he was pretty definitive to say it was dead, the president was pretty definitive in saying the trade deal is on who would ever think that this would happen, good news out of europe, pmis are strong, they are inflating things in their economy like we are. I also think there might have been a short squeeze those of us who watched when navarro said what he said the market plummeted and i think overnight traders said its going to open down badly im going to get short and they got whipsawed because you didnt think navarro could be reversed as quickly as he was given the fact he is a close confidant of the president. Almost exactly what art cashin is saying this morning. Whipsaw resulted in a good deal of short covering. He says the bulls may now reassert control he says they need to take the dow up by more than 450. The bulls are when you watch the market ahead of time you see so many stocks going up fo
Positive impact on very sicko individual patients. And of course, jim, we had the announcement today that the fed will begin buying individual Corporate Bonds, not just the etfs that hold those bonds but the actual bonds themselves. That certainly helped. Whats your take this morning . Well, look, i think each one of these can be debunked took this drug for two months. It was okay. I switched to prednisone suddenly we discovered this was a big breakthrough what were the doctors doing . Did all of the doctors get it wrong . Did they realize it was not swelling around the body and just focused on the lungs. Its like, okay, idiots honestly, i love the doctors, theyre great. But come on, how did they miss this and look, david, the gunners all want the stocks to go higher, right . And the fed is buying bonds that we would normally i mean, maybe the fed buys hertz bonds and takes them up to the point where maybe hertz is good. I dont know, david. Theres a lot of people saying talk pony. The
3. 5 . The s p, a similar gain, about 2. 5 there. And the nasdaq composite up just with over 2 . That is clearly a rally. Helped by the Federal Reserves bond purchases, thats money printing, a report from bloomberg on a possible trillion dollar plan for bridges, roads and 5g access in rural areas, thats the stimulus plan, a new one. Also helping, really helping, news from an Oxford University study, a breakthrough in the treatment of the virus using steroids. It significantly reduced mortality. We also have the rapid opening up of businesses all across the country and maybe an improvement in u. S. china relations. Mike pompeo meets senior chinese officials in hawaii tomorrow. And then theres this retail sales in may up 17. 7 . That reflects the partial reopening of some stores. It is a very strong number. The president just tweeted about it. Ill read it for you. Wow, may retail sales show the biggest one month increase of all time, up 17. 7 . Far bigger than projected. Looks like a big