But i think that the sideways period that we have had, has that cooled off for a few weeks, going nowhere. The s p has been in the tight range through july that whole period netted out we could not get away from upside risk. No selloffs, and you had things like m a popping up today and friday, and the idea that we may get a fiscal deal, and the highest stocks in the world continue to pull in dollars. Yeah, i know in general youre not a huge fan of seasonty and people making arguments based on seasons, but s p only had three positive augusts in the last decade i dont know that it changes that i feel like you have to be mindful of seasonty but know what it means. There is a tendency to have a uptick in compatibility and market action. I dont know if that is market wide or not. I think you have to be aware of it combined with the fact that youre seeing froth. It seems to come together. I find it interesting today that the dollar is bouncing and not really taking anything out of the big in
Exchange right here on cnbc good morning, im dominic chu. Your stock of the morning, a name you probably all know and even use, amazon. Com climbing to a new record high of above 3,000 per share you can see here in the early trade, 3046 is the last trade for amazon were off about one third of 1 in the premarket. That is just one stock that you need to watch today. But in a bit well go over more. But we start with how you and your money and the Global Markets are setting their day up stock futures indicating with a should be a lower open at in stage right now. If the futures moves holds, the dow jones would be down about 247 and the nasdaq down about 40 but remember, we had strong gains in yesterdays session and that saw the dow jump over 450 points and the s p post its fifth straight positive session. And the nasdaqs run continues jumping more than 2 to hit another alltime high this has been a strong trade throughout the course of the year especially since the covid19 market lows that
Dow. Stocks are having a nice bounce on some renewed optimistic about reopening the economy in various states of the nasdaq closing in on going flat for the year oil is up on signs of gas repairing. A general believe in a Third Quarter rebound has some exists warning too much optimism too early. For that we will turn to steve lease man. Carl, good morning. The rapid update does indeed show this historic, unprecedented Second Quarter decline. A Third Quarter rebound. And i want to talk about that. The Third Quarter rebound is even more ingrained. Stocks trade on this idea after we get through the Second Quarter, you will have a Third Quarter rebound. Down 34 after minus 6 . Up 16 in the third. Up 12 in the fourth 7 in the first quarter. Not enough to make up for the year where the average of our 11 economists is 5 decline but take a look now at a bunch of outliars. They are contrarians on the street on this Third Quarter rebound. The q3 rebound bears bank of america, minus 1 . Rsm up ju
Millions into the streets of chile. All that, for step here is joel weber. We put together a holiday cover for you. Quite a cover there. What a year. We think this is one of the biggest stories of the year. It started with the magazine covered it very early on when there was going to be an ipo. As that coverage developed and went on, there was another story we started to think about which was one of the biggest investors. I do love the cover. Seasons greetings. We did talk about it so much this year, what i love about this is i feel that you guys go into the layers of division funds. Obviously, there are other players. Ismoffett being the guy who really the visionary at softbank. Whocially the vision fund is now in Silicon Valley a hundred Million Dollar vc fund that can do a lot of things. One of the ways it can do that weworknto Something Like , and bankroll wework. That is a Business Model that not might not have been rife for the long haul. They were very aggressive. That is the st
Heres another headline from asia. North korea says u. S. Authorities will hold talks on their Nuclear Program on saturday. We dont know who represents america. The state department confirms, however, that the talks will take place. Politics. Real trouble for joe biden. Hes becoming a casualty of Speaker Pelosis impeachment drive. Fox has obtained this picture showing the former Vice President with his son hunter and on the far left, devin archer, who was also a director of the Ukrainian Gas Company. Biden has said he never discussed his Sons International business with him, but they went on this golf outing in the hamptons in 2014 when mr. Biden was president obamas point man on ukraine. As for the market, well, it looks like a rally on wall street to start the new month. Yes, its october 1st. Varney company is about to begin. Stuart take a look at this. Im going to say it again. Despite it all, weve got the market opening higher this morning. The Fourth Quarter begins as of today. Sep