Million, representing more than a quarter of all cases globally. I want to bring in our Bloomberg Markets reporter, who has been on top of all of this action. What did you notice today, with more record highs it is the usual suspects that continue to lead the way. A story of tech outperformance again. Boarde higher across the when it comes to major averages, but the outperformance came from the nasdaq. A record high. It was up by more than 1. 5 . I want to highlight that even though tech stocks and stocks wasdly were higher, so gold. It has been the highest since 2011. 1800 an ounce. That creates safer assets. The tone is not all risk on. The tech has been a safety trade. They are benefiting from a world staying at home. Todays session was the largest of the large that were leading the way. Apple, amazon, facebook, all contributing the most to todays rally and all four of them closing at record highs today. From a valuation perspective, how overvalued does the tech market look . We are
Check out the stock market in the early going. Right now, the dow futures are up by about 19 points above fair value. S p futures are up by 1. 5 and the nasdaq is up by 3. 5. If you were watching oil prices, youll see right now theyre down by half a percent. 104. 85 for the wti. The tenyear note at this point is yielding 2. 556 . Take a look at what the dollar is doing this morning. Youll see right now the dollar is up against the euro. Euro is at 1. 366. The dollar is down both against the pound and the yen. The yen is 101. 44. Gold prices look like they are up barely, 1,327. 80 an ounce. Among our market newsmakers, we have jim grant, jim paulson and andrew ill send it over to you. Thank you, becky. Our top corporate story this morning, jpmorgan chairman and Ceo Jamie Dimon announced late yesterday has been diagnosed with what hes calling curable throat cancer. Kayla tousche joins us now with more on the story. A lot of people on wall street and washington are talking about this situ
Cant comprehend it. Sometimes youre dazzled by all the ways that this market gives you to make money. Big money. Today was one of those days. Dow climbing 78 points. S p gaining 0. 4 . Let me tell you how that money was made and then more importantly, plain the take aways from each win. Because i need you to understand that the gains in this market have been extraordinary. Why is that . Simple. Its because managements will not let up about their stocks being too cheap. They hate it and they keep doing something about it. Meanwhile, other companies are now coming in to buy the stocks of still other companies that they think the stock market isnt paying enough for and are worth a great deal more to an acquirer. And still other companies have so much growth that their stocks cant seem to do anything but go higher. House of pleasure. Lets start with everyones what everyone is buzzing about. The 85 hostile bid for time warner launched today by murdochs company. We all know that the companie
Our first reaction is to express grief and condolences to the families involved. I noticed when the market was down not that much at all. Amazing how a plane crash a zillion miles away creates a buying opportunity. It was inconsistent with how the market works. Its too rash and glib. I expected the market to be down sharply this very morning because last night president obama announced his tougher sanctions against russia for meddling in ukraine. The s p futures were down big this early morning. Ahead of the opening. That seemed reasonable because of the new level of uncertainty. Things were ratcheted up. When the averages initially failed to get hammered because there was so much positive news flow, i was surprised. Russia, not as important as china, obviously, can still impact the stock market for more than 24 hours as we see things play out. In other words, we whistled past a piece of negative geopolitical news as though it were totally isolated and didnt mean that at all. When we g
Falling short yesterday. Adp helps, up 281,000, above estimates, strongest number in almost two years. Tenyear yield crept up to 26, two days in a row now, the fed may fall behind, and yellen speaks at 11 00 a. M. , and u. K. Home prices surpassing the 2007 peak. Road map begins with dow 17,000, index closer to the landmark. Will that better than expected adp number get us there . Dimon diagnosed with throat cancer plans to run the bank as normal during treatment. Google buying songs for an unus closed amount. Gopro going negative. Stocks setting up for the first down session since going public. Dow inches closer to 17,000, new record, and s p and nasdaq at new highs, adp surpassed expectations ahead of jobs thursday, tomorrow. Improving by 281,000, estimate was 205. May unrevised. Economists do not tweak models on adp anymore because of new methodology, but its better than the alternative. The surface jobs, well, where were they created . I dont see them in retail. I dont see them in