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.
Down jim, it was nice to hear becky give you props for the caution you have telegraphed in the past couple days. Watching your twitter feed it sounds like you are on alert for vying option at month end. You have could be cognizant of the fact that two days before july 4th the holiday are the two probably most strongest days in the entire year. I do think theres still too much froth you can watch nvidia today, there is a love affair with nvidia and the analysts which includes me. That one has to go up. The love for nvidia is so strong that you have to say, okay, that is your thats your bell cow here but i do think, again, that and, david, youve seen t there is that cohort of people who keep coming back to the airlines, keep coming back to the cruises, keep coming back to the tankers and those are the weakest part of the economy. It is, and for a reason you know the reason. I mean, look at the map, right thats really what you have to do at this point look at the map, jim weve been talkin
As electric. One of teslas biggest goals straight ahead we start with the banks and the latest. Weve seen a flury of press conference from banks announcing plans for their dividends, one of those coming at a future date is wells fargo saying its third level will reduce from 51 cents a share, didnt mention what level it will reduce to, but that will come in with the announcement of july 14th earnings another company on the watch list for potential definitely dind watch is capital one with buffer of requirement of 5. 6 but no plan of what to do with its dividends in the press conference weve seen so far press release weve seen so far. Of the companies that have reaffirmed their dividends citi group Morgan Stanley golden Goldman Sachs bank of america. This based off the stress test last week. Jpmorgan have not issued a release yet. Not that weve seen, correct. Wells fargo started today up with an 8 yield so nobody thinks an 8 yield is what the ongoing yield is going to be for well to me t
Winning streak falling by 300 points yesterday take a look at whats happening. Yesterdays session, the dow was down s p dipped back in for the year inching its way in the day before the nasdaq did power to a new record close and briefly broke above 10,000 for the first time. Lifted by amazon, apple, facebook and microsoft which all closed at record highs adding about 5 trillion. About the amount well spend in federal spending this year also take a look at whats been happening with u. S. Equity this hour both the dow and s p are under a little pressure. Dow indicated down by about 60 points s p down by 3. The nasdaq, even after all these gains is indicated up by about 17 points this morning taking a look at whats happening in the treasury market the 10year seems to be yielding 0. 797 crude oil prices are in the red. Crude oil prices, talking about the recovery theyve made. Talking about wti. Down about 2. 3 . What an improvement or a gain in crude oil prices now above 38 thank you it is
Reporter through 2022 the Federal Reserve keeping rates near the zero mark. Gdp growth for the fed shows a loss of 6 1 2 this year but bouncing back 5 1 2 growth for inflation. Fed predicts inflation under 1 1 2 for the year 2020. Not reaching 2 target goal for the end of 2022. For the Federal Reserve, federal federal funds rate going nowhere. Listen. Were not thinking about raising rates. Were not even thinking about thinking about raising rates. Were providing for the r support for the economy. We think this will take time. Reporter Federal Reserve chairman Jerome Powell says their goal is to get back to the record low unemployment, and inflation back to the 2 target line. They hinted they may let the economy run hot to reach those goals. He says record drop in Second Quarter growth but a bounceback towards the end of the year on unemployment. He says we may have seen the bottom. Listen. The labor market may have hit bottom in may. We dont know that. Were going to see. And you know,