Dom chu, the markets in particular you can see here 3385 is where were at on the s p. Were a stones throw, kind of spitting distance from there 3393 is the intraday record high, so those two levels to watch. The dow underperforming with the nasdaq returning to that leadership position almost a full percent today record levels of home Builder Sentiment to the upside. A far cry from where we were four months ago with regard to homeBuilder Sentiment. If youre looking for a marketplace for better days ahead, check out whats happening over the near term with etfs. They both track Home Construction and stocks. Look at the massive surge weve seen from those particular etfs just since the covid lows in march. Remember, a big deal responsible for a lot of jobs in the economy as well. Well watch that trade the stock of the day so far is nvidia they are up about 7 today driven in part by analysts in succesquehanna who have put it high, already up again 210 in just the last year nvidia raising tha
Good to be back with you. You did mention very important piece, which is davids piece and hes a friend of the show. Talking last night i was reading it and thinking can we really go higher he has a piece that says we will blast higher that will be something that i think a lot of people would be suspect, little critical of because were going right into the election he doesnt seem to mind that davids work is high quality and i just really think that he is just saying, it is time. And wouldnt that be something if we have a big, big move here. Its fascinating. He does say, jim, as you point out, the election does remain a risk but 3,600 year end and 3,800 in 12 months is a 6 gain and earnings estimate, jim, for next year 170. I mean, i remember when they thought 150 might be a risk. I just have to tell you, i wish everyone could get goldmans research i was fortunate enough to get that piece because it is a very logical piece because how there are many parts of the economy that are good. Th
6263 people have now died in our state with 100 deaths reported yesterday. Hospitalizations are also up almost 3 . However, icu cases are down slightly since yesterday. One area where Health Officials dont want people to go this Holiday Weekends beaches, especially those along the San Mateo County coast. With cases on the rise, new beach closures are in effect and they will last throughout the weekend. Some of the reaction to these closures. Reporter the last thing san mateo Health Officials want a large crowd right now so their message is, if youre thinking about going to any of their beaches, think again. The sign of the times in the air of covid19. Fearing a migration throughout the bay area this weekend, city officials closed all beaches on the San Mateo County coast from sunrise friday to sunrise monday and that includes here in pacifica and Half Moon Bay. They have to do it. Its not going away. The numbers are getting worse. Was turning people away and some were not happy about i
Surging. Awayee emfx which has come , it is coming off as well with the exception of the taiwanese dollar which is stating stable. ,he one, the renminbi won the renminbi they are off. You see the aussie 10year yield lower to 87 basis points. The chinese 10year yield is a turning point. We have seen a selloff in chinese bonds, this could be the Inflection Point to head lower. And we mentioned the oil price, it seems like the recovery could tolongstanding according the fed. We are seeing oil heading to its first weekly drop in two months. In thea trepidation markets come the s p dropping as much as 6 . Lets get perspective. Mark renfield cranfield joins us. We know lots of money is sloshing around. That could provide support for the markets. Mark i think we will have to get used to the higher volatility. But is one of the things we have been experiencing in the selloff in march. On a daytoday basis we get more big swings either up or down. 5 or 6 , movement has become more common. There
Nobody wants a second wave. The market starts the week on the upside again. Investors like the get back to work trend and there are several forecasts of imminent recovery for the economy. Secretary mnuchin says there will be a rebound july, august and september. The dow is looking at a 200 point gain first thing this morning. Thats close to 1 . A nice gain for the s p, close to 1 . The nasdaq will be up over a half percentage point. Now, the reason the nasdaq is up, because of this. This week, many Big Tech Companies report their financial position. Strong results expected because the virus lockdown has a more limited effect on these companies. Premarket, most of them are up. But look at oil. No joy for the drillers. They are looking at 12 a barrel and the worldwide glut shows no sign of easing. Over the weekend, the price slump claimed another victim, diamond shamrock. The drillers declared bankruptcy. The price of gas still falling, albeit slowly, about one cent down a day. The avera