Yeah, President Trump started promoting mask wearing on twitter. A major shift and the stocks have been fitted from a reopening economy are higher today and thats how the dow jones gained 160 out performing the s p 500 but trouhe nasdaq. the cramer covid19 index is out. The recovery stocks are in at least for today our country has the worst coronavirus outbreak because we turned wearing a mask into a cultural issue the president tweeted a stark black and white picture of himself wearing a maface mask wh the explanation saying many say its patriotic to wear a face mask when you cant social distance there is nobody more patriotic than me, your president. End quote. Well, kind of the only one why does it matter because President Trump is the de facto leader of the anti mask faction. Thats why he spent months refusing to wear a mask in public and framing this as an issue of personal freedom. That emboldened people to take ridiculous stands against mask mandates invoking the first amendment
Above 39, jim. But this morning, well watch maybe a tale of two cities if new york can do this as they reopen offices and hair salons i think new york is taking a big risk because new york has beening ino ing inumber one when you have the least covid, i guess maybe you can say its time to open but also to be the least covid for a little bit i know you need to do it because too many businesses that are going to go under. Just be too long and the cash flow is too low. I worry about a bit of a spike because it is great to be a state that you feel safe in and, yes, i want my, i dont have to worry about my hair being cut but yes i want these businesses open and get cash flow its been just a delight to having lost vigilance but little less nervous on fathers day pretty good. Interesting kudlow saying a moment ago he does notanticipate another nationwide lockdown but one thing that friday did demonstrate that apple and cruise lines will curtail their own operations if they sense any need for
Committee. Amy is the chief Investment Officer of the chevy chase trust. I want to show you where we stand right now. Another brutal jobless number to digest along with technical damage to key sectors. We have had a nice move off of the lows the dow is hanging onto 23,186 its a loss of 65 points good level for the s p to keep an eye on 2800 nasdaq the focal point of so much of our conversation is giving back 1 there it is on the right side of your screen. Put the last couple of days into perspective with what were seeing today you are one of a top Financial Adviser in this country. Whats the word . Well, i think any objective way of looking at this, the market is pricing in a lot of good news at large i think thats what you heard from david tepper. Its hard to find anybody that disagrees with that. I think in the very short run theres asymmetric risk to the downside market vs mos have moved a lot as we move to open in the recession ends and the recession will end in is an engineered re
This of course, the saudis are flooding the world with oil right now. The russians, its not clear where the heck they are because theyre very secretive, but i know who is not there, the drivers. Theres very little demand david and i talk about this with you all the time, carl theres this overall sense, you know what, if we just get things moving, things will come back again. We need customers. We need customers to get their hair cut, to go to the dry cleaner, the restaurants, and we need customers on the road without them, i really dont care what president calls who, you need a tariff to keep the to keep the saudi oil from coming here, and you need the chinese to restockpile, and frankly, thats still not going to be enough to be able to make it so oil real demand goes higher good point yeah. Sorry, carl. 6 Million Barrels a day, jim, is what im hearing right now as we still try to adjust. Even know we know each others cadences so well 6 Million Barrels a day here and its not just not j
Renewed china trade optimism set to fuel further gains of the open retails big week and the tariff impact into the holidays. Best buy, dicks, dollar tree, abercrombie among the retailers reporting today. And ford challenging tesla to a apples to apples tug of war between pickups and elon musk says bring it on three major indices saw record closes, top trade negotiators from the u. S. And China Holding a phone call earlier this morning the two sides continue to work toward a phase one trade agreement. Trade rep lighthizer, mnuchin, both participated in that call and both sides agree to remain in contact over remaining issues on twitter, you said the phone call last night was very important in terms of furthering a deal yeah. It is real ive been skeptical. This was a real call phase one probably happens Financial Services get opened up president may believe that intellectual property is for real that instead of just a soybean buy, a promise to they would respect intellectual property. Do