Good thursday morning. Thanks for joining us on squawk alley. Jon fortt, david faber with me at post 9. Carl quintanilla has the day off. We are still within the reach of dow 20,000, although it seems we are gate geting a little further away than we were at the beginning of the week. Blue chip index hovering. A big story in the runup so where we are now has been financials. The sector on a tear since the election and could help us push past dow 20,000 if and when the momentum comes back to the market. Lets bring in jim mcdonald, chief investment strategist at Northern Trust Asset Management and marty, bank and equity strategie strategies. Marty, if you had thought this would be the headline on january 1st of this year, i mean, so many people didnt see this coming for the banks because they had been repressed for so long. But the question now is what is fair value for this group . Well, you need to put in context how you started the year, which was, you know, the downturn of energy, loo
Stock futures on friday were coming off a record close for the s p 500 yesterday. The dow closing in. Another number 600, netflix crude oil a little change. Think Lower Oil Prices are good for the economy, think again. This morning, job cuts jumped 68 in april to 61,000 job cuts. Oil firms a huge part of that. Tenyear bond note, costing investors about 500 billion in the past month. Its probably low, i think you think thats low . I think thats low, i think the damage of this german remember, thats the liquid security, its the only socalled aaa. You think ill hold it to maturity. When the fed chairwoman said there are losses. All right, meantime other road map this friday starts with the markets, coming off a strong day if the green. It will continue to march higher in the bond market. Again, not a big upside predicted. A downgrade for john deere, that stock is down well tell you why it was cut and theres a big warning in it. Netflix stock is about 600 bucks in the free market. Netflix