Quarter. We are down 1. 4 on the s p. Weve got a big show coming your way well speak with the ceo of hologic which says its new coronavirus test could help increase the countrys Testing Capacity and a massive afternoon of earnings. Apple, amazon, gilead, visa and whirlpool. And an exclusive interviiew when i will pools ceo. Michael tracking the market on this final day of the month. Courtney has a strategy update for macys and julia is watching big moves for media stocks mike, start us off with the market down day, but big up month and a big five or six weeks since the market low take a look at the s p this is a twoyear this was a 35 drop on intraday basis. To yesterdays high, it was a 35 rally off that lower level so very sink niehaus in that way. I also point out that right around here, 3005, people are talking about how its gained more than 60 of the overall point losses that has some significance its kind of a may period. Seasonals get weaker and yesterday was kind of a big headlin
Bank lets check the numbers and see where we stand the dow is off 1. 5 . 24,260 s p at 2900. Russell, all the way on your right. Its been a big out we are forming giving back about 3 today. Were going to look ahead to those earnings tonight but we have to look back to last night. You own facebook, microsoft. No wonder these stocks have been doing so well. They justified the it last night, didnt they they did. When facebook comes out and says ad revenues have stabilized, thats a very powerful statement. Weve had this debate is old tech tired or is big tech tired. Can it keep giving we saw their operating morals are fantastic. Apple may be the squishiest of all because they are directly tied to the consumer phones. I phone it im not doing anything with it so what . This is where you want to be you want to be in whats working because the companies are bilts to work. Its where technology is and where its going 5g as we talked about so many times. Funny you say that. Kramer said so Many Com
We start with the 1. 1 trillion countdown, amazon, microsoft, apple, all reporting next week and the stakes couldnt be higher guy, we kick it off with you, which of these tech titans will you be most focused on hello, mel. And when carter worth is back you know fast money, its almost back 100 . Its great that cbw is back. For me its amazon next thursday this is something weve been talking about for a while and while you were away and one of the things we talked about collectively is how well amazon was trading and amazons rallied 50 from the load we made seemingly a month ago. Well see if it bores out and i think you own it into earnings on thursday. You pull the rip cord ahead and you look to reenter the position at 2170 which if you recall was the high we topped out in february. Thats how im looking at it, and thats how i think you trade amazon next week. Amazon is a microcosm, tim, if you will, of the trends going on right now in this pandemic when we have the work from home trend w
Take a look at a few charts. This stock made a low back in january 18th before collapsing with the market and didnt offer any defense and went down just as much as the market and hit a 212 low this week at 283 if you look at the next chart, this is important. If you are defensive or considered defensive, is it more defensive than proctor thats the exact same selloff offering no defensive qualities and now having rebounded 35 , but youre not back to the high, of course, and thats the nature of percentage, drawdown and ricochets. The final chart. This is a twopanel chart and this does tell the tale. What we see is apple on top, but its relative performance to the nasdaq 100 continues to stall and by my work, one is skeptical going into the print this coming week all right, carter we go to mike. Whats your trade out of this . Yeah. So its interesting as far as im concerned. Apple, you know, this obviously is a company with a fortress Balance Sheet and some would say well positioned all Th
Markets. Buying in the long and in the u. S. We had a seven year auction yesterday. A lot of supply was coming online. One area you are still seeing selling is btps in italy. Oil up by about 1. 50. As we get lots of earnings sees their yum restaurants around the world largely open for business, so that is interesting. Worldwide comp sales down by 7 , better than estimated. The estimates were for down. 4 . 8. 4 . E for down no visibility really for all of these companies trying to figure out where they go from here. Into all of todays market moving news. We are about 1 3 through earnings right now. Onhabet surging in premarket betterthanexpected results. D both taking a hit. Annmarie hordern has more. Annmarie i want to look alphabet, up in premarket trading. On top of that, it is boosting shares in the nasdaq futures market. Sales came in better than last year. On top of that, they beat the street. They did suffer from cuts in marketing to do the pandemic, but the executives had a lot