What happens after yesterdays big move the dow down yesterday by 2. 1 the dows worst performance going back to may 1. A lot of this was happening as we were getting comments not only from Stan Drunkenmiller and dave tepper talking about his concerns about this being the second most overvalued market he had ever seen. Comments from fed chairman jay powell all of those things adding up saying what do we need to worry about and where do we need to be concerned . Watching the treasury markets, you will see the yield for the 10year right around 0. 61 so that is with a little more pressure. Watching wti this morning, you will see that is up about 5 i think it is 2r5iding near session highs of 26 a barrel. Andrew thank you. Every day, we have a huge show another big one this morning what is on the lineup this morning. The ceo of verizon, New York Times, mohammad eleran to join us and eric schmidt who will be working with the governor of new york states and work places looking to him and that
Whole move, just fueled by Wishful Thinking are we whistling past the graveyard here after a strong day dow gained 133 points, up more in the beginning. Nasdaq climbed 1. 3 . I think those are the wrong explanations its not Wishful Thinking. Its that i keep telling you that we have two markets, right. I told you why the s p doesnt work any more. We have two markets. We have all that stuff that went down and im going to go over that and then, of course, whats in the nasdaq in science and technology thats whats responsible for the phenomenal move. The nasdaq is barely down for the year yeah, and the bad market, the industrials, travel leisure stocks everything gets dinged even on a big up day like this one. Right now there is genuine excitement on wall street that we could maybe be returning to something close to normalcy. We know its ridiculously high people didnt get their stimulus checks, the pay row protection program, money will float, Small Business employees consumers have been co
And broadway beautiful. The stars of the hit carole king musical prove youve got a friend, even if theyre so far away. So nice. But first, heres todays eye opener, your world in 90 seconds. This will be a week of heartache. It also is a week of hope. The toll of the virus is hard to fathom. Experts say we should brace for things to get even worse. If back to normal means acting like there never was a coronavirus problem, i dont think thats going to happen until we do have the situation where you can completely protect the population. We are at red line. People cant work any harder. Staying at this level is problematic. President trump offered his best wishes to Boris Johnson who was moved to icu after his coronavirus symptoms worsened. Americans are all praying for his recovery. Hes been a really good friend. Hes been really something very special. Strong. Resolute. Doesnt quit. Doesnt give up. President ial primary in wisconsin will go ahead after the u. S. Supreme court blocked attem
Virus could soon peak in new york city. Weve already seen the apex in madrid italy is clearly over the hump that means buy storks. Cover your shorts. The bull is backs todays run d 1627 points marking its best day in two weeks s p soaring 7. 03 . Nasdaq 7. 3 . Can it really be this easy or does this represent too much optimism i think its a bit of the latter wall street is a group of index buyers and traders when we care about the new number of coronavirus cases, number of hospitalizations and mortality rate index buying was so intense it moved stocks like they were play things now, does that mean we should buy the nasdaq when we have more ventilators, sell it if we dont have enough personal protective equipment . Do we buy the s p retail etf when we get a decent number from, i dont know, Governor Cuomo . No, its kind of ridiculous. Were simply seeing, though, the flip side of what happens when people were downbeat as they were last week when the president s team told us some pretty ho
Thinnest of reeds which is why the averages were able to war today. The dow which gained 470 points, s p advancing 2. 28 . Its hard to find a positive button house of pleasure the nasdaq gaining 1. 72 . All right, what happened okay, this morning President Trump told us hes brokering a deal between russia and saudi arabia so theyll stop flooding the world with oil that will help the price of crude to rebound back to the 20s and trigger a short rally in the stock market. One that couldnt be taken down by the shroud of gloom even as the shroud kept trying to take it down. Intermittently until being ripped from the markets rarely bullish face buy, buy, buy yep, we live in a bizarre world where wall street can momentarily overlook the fact that 6. 6 million americans filed for Unemployment Insurance last week a mindblowingly horrible record breaking number. Instead, we briefly able to accentuate the positive. It might not collapse, saving billions of bad loans and preserving Energy Indepen