Previous peak on february 19th and all i heard is its because were having a v shaped recovery wrong, wrong, wrong. Not just wrong but laughable in a v shaped recovery the Dow Jones Industrial average would be hitting highs but this move is led by the nasdaq and s p including today the dow lost 67 points as the s p advanced 2. 3 , the nasdaq gained 7. 3 you dont need to be a Rocket Scientist to figure this out look at the stocks that have brought us to these levels they are not the recovery plays. In fact, they are the opposite they are stocks that tend to do well because of what we call secular considerations, not secular like nonreligious but secular as in they are doing well because of trends in their own industries, not the economy. Far from it. Allow me to explain. We had a magnificent v shaped recovery in the stock market, but the stock market is not a great reflection of the voter economy anymore. If anything, the actual economy is in precarious shape now that the government stim
Information from dan is taking these new positions in the Second Quarter according to his quarterly letter in disney, amazon, alibaba. Well focus on disney first and foremost josh, i just got off phone with dan who told me the following about why they initiated this position he said theres no close second to disney when it comes to an entertainment company. He says they have slate of tent poll releases. We know the titles they have he said some of the commentary,s the narrative of how disney plus is being thought of in the context with netflix its not a winner take all environment. They have to take market he thinks is easily split between those two and some other players. He also, which was interesting as well likened disney to microsoft 7 or eight yea8 years. You have a time old business and youre able in some respects to reinvent yourself. Much as microsoft has done we know how well that stock has done lately. He seems a similar scenario for shares of disney josh, let me get your ta
Alltime highs today and if you just looked at the market, you would have no idea, frankly, about the civil unrest across america, as thousands continue to take to the streets to protest Racial Injustice and inequality demonstrations last night a little more peaceful than on prior nights were going to dive into what could be a Tipping Point here in the u. S. Power lunch starts right now tyler, thanks stocks are at their highest level in three months as the rebound continues at a furious rate for more on the road back to record highs, lets get to dom chu. Hi, dom. Hi, kelly, lets talk about the massive amount of green youre seeing on the screen right now. As you and tyler mentioned, the vshaped recovery continues to move the dow industrials, 400point gains, about a percent and a half to the upside the s p 500, 3116, the level there. 1 gains there the nasdaq actually lagging for a bit now so far but lets take a little closer look at the nasdaq specifically the nasdaq 100. Because as tyler
Huawei. The s p 500 down 0. 9 . Dire Economic Data followed by confidencey good data, according to the Michigan Consumer sentiment data. But we are checking the innards of those data to see what is going on there. The 10 year yield at 63 basis 28. 53, up crude at a good 3. 5 today. Lets get to europe. Germany plunging into recession, gdp falling 2. 2 in the first quarter. Bloomberg has been speaking with executives of German Companies about the pressures caused by the pandemic. Have a listen. The times are turbulent and they are complicated. The real question everyone is asking, how quick will be recovery come . The uncertainty remains. There is still very much uncertainty, so from that point of view, we remain kind of cautious. I think it is too early to call an end to the globalized world. We assume a ushaped in area into year end. We are presuming recovery on the one side, which is important. We dont know exactly how the restart and the unraveling of the current lockdowns across the
Brown, pete nigerian on the phone, erin browne. First, lets check out the markets to see where we stand this hour as the busiest week of earnings season starts to ramp up the dow up just 28 points. Nearly 400 point gains the s p just marginally to the downside the nasdaq up nearly one full percent at this point. 8657 there a key focus for many traders up about 1. 25 at this stage its great to see you i guess i would start by saying the s p 500 is now down 11 year to date. The recovery has not been anywhere near as robust for the median stock as it has been for the gigantic stock in week is what i call the playoffs of earning season the most important stocks to the overall direction of the s p or reporting. You know the names microsoft, facebook, google, et cetera those are really the stocks that i think matter most directionally. This could be a very interesting week its not all bad yesterday was a massive day. Thats what youd want to see. It happened. The iwm had a 4 3rs day. Not much