Vaccine. If you want to understand this market, including today, the dow tumbled 354 points s p lost 1. 23 and the nasdaq plunged 2. 29 with many bigcap tech stocks taking it on the chin. You have to recognize things will never be the same in this country or around the world until we get a vaccine the pandemic, not the fed they know nothing not the election is the most important driver of the stock prices thats right we get a vaccine sooner than expected, we save the economy. But if the process drags on and we dont have any stimulus, were going the need to adjust to the slow to no growth huddle at home normal therefore, our fate is in the hands oh of a few dozen companies. Whoever get there is first is going to make a lot of money thats why we decided to do something new. We surveyed 92 drug analysts, the best we could find, state and local level, to handicap the chances of each of the main players. We dont bet on at least we dont like to bet on lifethreatening situations. This is a te
Becomes a cash flow power house in your words. We think were seeing the part of the possible and the buzz kill of the probable coming together the worlds alarmer tam. The worlds most energetic, enigmatic, courageous ceo. A phenomenal human being in many regards, and then against that, and also frankly the product has a huge lead on anything else in the market on the other side of that to extrapolate that out, 10 or 20 years, investors are making a number of bets theyre betting on the legacy guys failing even if they spend half a trillion trying to succeed. And i think the big bet is against amazon, apple, and google nose are the things that concern us right now when you see the case there at 70, is there a symmetry on how good and bad it could get. If you lock most people in a room for a week or a month and say you need a 5,000 or 10,000 share price for tesla, they can dream the dream, right and you would have to have a path to get there. That may not be provable, right . What we are t
Yesterday carl was a discouraging day for a lot of people who have been chasing momentum because last week was maybe one of the best momentum weeks i can recall since 1999, which meant that if you bought it went higher and how much fun is that . Yesterday was the day that you bought it went higher and then you got crushed. So i think that usually takes a couple days of reset where maybe you can after stocks that arent as hot, say, as tesla. So you would focus, say, on Something Like the banks ive been through the banks and i know dave and i talk about this all the time, they are incredibly complex beasts, they are not like, oh, tesla, hot and when i first went over them i thought they looked pretty good but already theyre reversing. This is not an uncommon pattern as people find one line or two line that they dont like and then they sell these stocks. David, its happening once again. You know that these banks could have had littered with bad loans, its not, they have great trading, the
U. S. To helping chinese intelligence. Claims to there are the South China Sea. Coronavirus cases topping millions, and florida surpasses new york as the second most affected state behind california. A daily record for deaths. Pause as they debate new stimulus. Republicans would like to extend the jobless payments to cover 70 of lost wages as the Economic Outlook dims. Shery lets look at how markets are trading at the moment. We see u. S. Futures to the upside after stocks fell last week with escalating china tensions, not to mention the wrangling in washington. For thegold sent above First Time Since 2011, and the , the nasdaq composite finishing at a twoweek low. Take a look at what well is doing. Is doing, brent above 43 dollars a barrel. This, of course, after we saw some pressure last week on signs of weakness in the u. S. Labor market. Prices dids oil manage a gain. The dollar index fell to a sixmonth low, the week dollar overshadowing concerns. Yes, lets take a look at asia, a p
Return especially in texas is a factor. Now look at this. Five stocks at or near record levels. Apple, microsoft, google, facebook. What you are looking at is premarket prices. I see apple and amazon up again. Not much of a selloff in the other three. Facebo facebook, google and microsoft, after yesterdays stellar performance. Put together, these five make up 22 of the s p 500. Now, that is dominance. The news from the street this morning. It is not good. In atlanta, armed men took over a small area and refused to let the police in. In wisconsin, a state senator beaten when he took a photo of demonstrators. In our Nations Capital, the flag burned by a cheering mob. Varney company is about to begin. Stuart a political bombshell is unfolding. Longtime democrat congressman of new york, elliot engel, is fighting for his political life. The 16term incumbent is trailing by double digits against a progressive. He received the full support of congresswoman alexandria ocasiocortez. Engel was su