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
Sweet week for the market, up nicely, but if you look a little bit farther back, were actually right where we ended up in may. We went nowhere in june. What would move the market up or down Going Forward . Yeah, thats right. The market had a great week. The s p 500 finished up 4 . Only up 2 from a month ago, its gone nowhere. Theres been this push and pull between good news, we had a lot this week, both the payrolls numbers close to 5 million new jobs added, better manufacturing surveys, and that caused investors to overlook a lot of the bad coronavirus news. But thats just making back what we lost last week when the coronavirus news was the focus of the market, and were really going nowhere right now. Jack so what could change that . Youre looking ahead to earnings, i assume. Yeah. Thats going to be the big one. The earnings reports are coming. Were going to get banks in a couple weeks. Were also getting a few trickling out. Theres companies that have these weird reporting schedules.
Sports leagues are trying to make a come back mike tirico is going to tell us what the biggest hurdles are that all of the teams are facing right now. Tyler, thanks, the nasdaq is on track to snap a fiveday winning streak after the apple hedlines spooked investors. I think the key point here is that there are is 11 stores it is only 11 Stores Online stores are still open most of the others are still open most only have curb side pick up, but the whole thing is trying to figure out the trajectory of reopening. The closings of anything, and the market should be concerned about this you look at some of these travel a and leisure stocks they were flattish a little over two hours ago here, but trip advisor is down here we did have that announcement, no cruising until september 15th, but that was only a short while ago. The apple announcement was before that. Another casualty is brick and mortar retail. I want to specify, it dropped here, here is your dillards, abercromb abercrombie, and mor
Some places are reporting record single day increases lets kick things off with meg terre terrell. Were seeing a couple days worth of data with record cases. If you look at the United States in total, now the sevenday average of new cases is starting to tick higher again meaning trends to the south and west of increasing cases are starting to overcome the positive trends coming down in the northeast as of yesterday, 27,000 new cases were reported across the United States United States. If you look at individual case, weve been getting the new case counts for today for states like arizona now up to an additional 3200 cases today california reporting 4300 additional cases today but that could be due to Testing Backlog from l. A. County we saw in the numbers yesterday. Florida also reporting record high cases today 3800 South Carolina another one of those states reporting record highs. Now in terms of the hot spots in the country, the areas with the fastest case doubling times, it is clos
Sweet week for the market, up nicely, but if you look a little bit farther back, were actually right where we ended up in may. We went nowhere in june. What would move the market up or down Going Forward . Yeah, thats right. The market had a great week. The s p 500 finished up 4 . Only up 2 from a month ago, its gone nowhere. Theres been this push and pull between good news, we had a lot this week, both the payrolls numbers close to 5 million new jobs added, better manufacturing surveys, and that caused investors to overlook a lot of the bad coronavirus news. But thats just making back what we lost last week when the coronavirus news was the focus of the market, and were really going nowhere right now. Jack so what could change that . Youre looking ahead to earnings, i assume. Yeah. Thats going to be the big one. The earnings reports are coming. Were going to get banks in a couple weeks. Were also getting a few trickling out. Theres companies that have these weird reporting schedules.