Principle dilemma of the market. What do you do if the conventional wisdom that washington cant accomplish anything is correct . Trump stump. What do you do if president trumps tax reform plans are really dead on arrival in congress . Like most of the media seems to have concluded. Even as the president tweets everything is ahead of schedule. Well, you know what you do . You end up buying stocks like amazon, thats what you do. Why amazon . It might sting when the stock, because it touched 1,000 today and it has become a storied component of the era of single okay greatness as opposed to single stock risk, so many firms say you should be scared of. Kind of, well, yeah. It is not all the magic number 1,000. Remember, amazon is the ultimate nontrump stock. Trump free zone. What does trump stand for . First, lower corporate taxes. But tax reform doesnt mean that much to amazon. Since the company could decide tomorrow that it doesnt want to show any profits for the next couple of years beca
First, we start off with the move in Health Care Stocks today. The sector rallying more than 1 , surging to an all time high. This as bio tech stocks continue to break out, tracking for their best week since after the Election Health care, the best performing sector for june, so did we just witness a major rotation of the market and could health care be the next hot area of growth. Yes to all of that . I dont know about all of that your last thing. Then i sort of tune out. I get that. But now, absolutely. Is there a rotation going on im not serp, be but i think people are realizing that valuations in health care make sense. Maybe bio tech isnt under the mike scope we thought it was and now, youre having some listen, i dont think the pfizer, Bristol Myers deal is going to happen, but when you start to hear speculation about things like that, it lead to a Healthy Group for the space. Its led by celgene. Look at the performance small u to mid cap names xdi is is up what, 30 plus percent .
Entering anstry is era of mega consolidation. A quick look at what is going on market wise. A mixed back in the asian pacific. Shanghai moving to the downside. Tokyo, lets take a look at that. Closinga just about half a percent up. Cory this is bloomberg technology. A disturbance in the force at disney. We will break down the First Quarter earnings. Twitter crackdown on hate and harassment. And meeting the makers. We are live from the toys 17 makers conference and we have Tim Armstrong and susan lyne. First, disney shares dipping after hours. The company reporting its firstquarter shares fell short of estimates. Revenues shrank 3 yearoveryear. They saw 3 billion of profit decline. Espn had a lower viewership. It dragged down the result of the cable operations. Theme stocks were a bright spot and were 13 higher than one year ago. Joining us is paul sweeney, our intelligence director. I just got off of bloomberg radio, and the take was the numbers werent terrible but not superstrong. Pau
Comments, with Health Care Reform still on the table, a possible tax reform infrastructure deal coming this year is the best thing to do to keep calm and buy on. The process. It does seem that way. If you look back on friday, what do we see . The markets are actually higher on friday. We thought the bottom was coming out of the market w. One line, speaker ryan cures everything. To me, im actually shocked at this, the market is giving the leeway to the administration. Which means, once again, we are all missing something. I said yesterday, i said last week, i think im missing something, because the market continues to rally when i think it has every reason to sell justify. The market fought. Once you get a positive headline like this, where, okay, maybe tax reform is still on the table, the market want s the rip higher. So, yes, i do believe you stay in these long trades, i do believe you buy on dips, because there is something im missing, its definitely both. The safe trade is a lot lo
Destroyed three central sri la nkan villages. Three bodies have been recovered. Tensions escalate between the u. S. And china over disputed international waters. Two chinese fighter jets intercepted an american reconnaissance plane over the south china sea. The jets came within 50 feet of the u. S. Plane. Ruledrado jury has Cinemark Holdings is not liable for shootings in 2012 that left 12 people dead. They could not have predicted an attack from gun man, james holmes, sentenced to life in prison last year. I am mark crumpton. Bloomberg west is next. Emily i am emily chang, and this is bloomberg west. Coming up, a question of trust. Did a highprofile meeting with Mark Zuckerberg convince conservatives that facebook is a friend . We get details from someone who attended. Plus, google and xiaomi a plan to take on apple and amazon. I caught up with Xiaomi Global Vice President and former google exec, hugo barra. And dysons second wind. The manufacturer is reinventing mainstream home appli