The last 24 hours. Tom what is interesting is the microanalysis of france or germany. Interesting conclusions. Heres what matters. Hospitalization capacity and the number of deaths is front and center for the pros. Jonathan and for market participants, desensitized by the numbers, conditions by the experience of earlier in spring. Markets that if that markets go up, and if they policymakers step in. Tom it is real simple here. Yes, all of that is true, but. Lso noted, a society adapting stimulus may be, the adoption of a set of vaccines, but also corporations adjusting to try to better 2021. Jonathan lets hope we get some better economic data. 8 30 eastern, jobless claims just around the corner. We got from 3m this morning. They are going to cut 3 of their staff, 2900 jobs. This comes amid the concern, how much can we see these terrible pandemic numbers without longerterm impact on that future outlook in 2021 . At 8 00 a. M. , we are getting the rest of the opec meeting on out cuts on
Particularly for tech and tech advances. Desperatelys a calm looking for news flow on the pandemic, and lets not forget the lack of stimulus in washington is just stunning. It is almost hard to believe we are here in the middle of september. Comparehink we have to the selloff. The character was different. This wasnt about big tech. Industrials,als, materials, energy. Thats where the price action was over the last one he four hours. Tom we are focused on Prime Minister johnson. Comments soon, and then a speech tonight to you and the nation at 8 00 p. M. Ive got to go to the pub closing at 10 00 p. M. Can you expend the difference between a pub closing and someone getting the virus at 9 00 p. M. Versus the usual midnight . [laughter] jonathan no i cannot, and the Prime Minister will have to explain that. I am not sure he will even try. I think the big issue for many people is just capacity. If you have a problem with people going out and mixing too much, then address capacity. If that is
Average stock down 6 . It has been one portion of this market which is absolutely ripped through 2020. Lisa are we at the phase of recovery where you can go into more cyclicals, given the fact that you saw a bit of an increase in treasury yields . Treasury yields coming back down today. We are going to be getting data, though, i date 30. One thing i am at 8 30. One thing i am watching is the jobless claims, still expected to come in at over one million americans in the past week, even though it is expected to come down. A. M. Aen 40 5 10 45 a. M. Conference from Speaker Pelosi on the road to nowhere. Each week that this goes on is more pain. Selling 26, u. S. Billion of 30 year notes. Strong demand all around, which has given investors some comfort that the bid isnt going to dry out. Jonathan starting with equities, equity futures this morning looking like this on the s p 500, against a bond market that is doing ok. On thefutures unchanged s p 500. In the market, in the bond market, a
2020 fresh economic stimulus from beijing adding to the optimism but under the surface the russell 2000 seeing its worse day in a month and we got some mixed labor market data here in the u. S. Earlier in the session. We are up 235 points on the dow, near highs on the session for all three major averages joining us paul hickey cofounder of the spoke Investment Group very good afternoon to you happy new year to you. Where do you stan in terms of whether this bullishness is justified. Is it easy to pick bullish or bearish as we stand . When you look where things stand out, you look at the equity pros and cons which we look at on a regular basis, the pros are balanced with the cons. That doesnt suggest you should be taking a cautious view or just a neutral view implies average returns for the market Going Forward. And when we look whats going on in the market now, whats happening now, brett hits new high nasdaq hitting new highs what we follow closer than any other group is semiconductors
Making her last stand, raising rates for the third time this year and the fifth time since the financial crisis Steve Liesman was at the press Conference Reporter hi, melissa the Federal Reserve raising the Interest Rates by a quarter point, that is the highest its been since 2004. The fed forecasting three more rate hikes, boosting its growth forecast next year to 2. 5 in part because of coming tax cuts. It also lowered its outlook for unemployment to 3. 9 and continues to believe that inflation would eventually move up to its 1. 9 target. There is nothing flashing red there or possibly even orange. We have a much more resilient stronger banking system. And were not seeing some worrisome buildup in leverage or credit growth at excessive levels so, you know, this is something that the fomc pays attention to. But if you ask me is this a significant factor shaping Monetary Policy now, well, its on the list of risks its not a major its not a major factor reporter yellen said the tax cuts