And the u. S. Keep talking trade, we dont know when this thing ends or how much further it goes. Sit back and enjoy the ride, today is august 25, the dow of 378, yesterday up another 150th opening bell today, the s p record high close up some more this morning. The nasdaq looks like its going to be down a few points. Were going to show you apple, premarket trading worth 2. 15 trillion and there is speculation that there is iphone production to mexico, more of that in a moment. At the convention the republicans attacked the biden harris ticket as a looming disaster. Dynamic speeches from tim scott and nikki haley and the president as surprise appearance and a vocal audience preview will see it. Day two, melania speaks tonight, rand paul, eric and tiffany trump, you will see that too. I gotta say this, our heart goes out to louisiana, mississippi, texas and neighboring states. Marco faded but here comes laura. Landfall probably tomorrow, could be a cat two or three storm the people of ga
Nevertheless, the dollar weakness theme is there. And the german tenyear yield. We are seeing a bid on the bond market. It kind of keeps determining what you want to do next in terms of so many of those asset classes. It is friday. And one of the critical things happening is that sports is back. Being on lockdown without sports was really hard. [laughter] but tonight the english rugby season[laughter] , the premiership restarts. We will talk to the ceo of harlequins. With us if youed have ever seen directly and you want to get a flavor for what it watch this player play rugby and you will get an understanding of just how big a sport it is. Anyway, we will get a sense of where the premiership is going. We will talk to what of the Sports Betting companies. Who we speak to now is david kelly, j. P. Morgan Asset Management. The market has taken a few hits this week. It is trying to. Push higher with equities but failed. What do you make of that . David it is probably too high to start with
At 211 a share, now its 213 up again, those two Companies Amazon and microsoft have huge and growing cloud operations. That is a big part of their stock rally. Now look at tesla, 142, yesterday closing 1600 a share and this morning its up 11 bucks, 1654 but it is up again, are these tech stocks a bubble, is it like the dog, the late 90s, ive never seen anything like this before. Now look at the overall market, the Dow Jones Industrial going up again, maybe 150point of the opening bell, the s p of 21 points, two thirds of 1 . Look at the nasdaq, a half percentage point and more because a big tech again. The market is also getting help from the europeans who reached agreement on a near trillion dollar rescue plan that helps and they are still negotiating a plan for the United States as of right now. Bottom line, big tech in the market going up again today. A different story in our cities there is a confrontation going on on one side local largely democrat mayors on the other federal auth
Burning documents, not shredding them burning them, China Threatens to retaliate and feels and looks like a new cold war. We have a significant turn in the fight against a virus, President Trump says its going to get worse before it gets better. A clear sign that the economic effects will drag on past the election. However, the trump team signed a contract with pfizer with 100 million vaccine doses. America gets the vaccine first, they pay pfizer 1. 1 billion and the cost to you, 0. Two stocks, got to watch them all day long, microsoft and tesla, the Financial Results reported around 4 00 oclock eastern this afternoon, in advance of that those stocks are on the upside. By the way, as of right now tesla is the most valuable car company in the world worth more than gm, ford, and honda combined. And microsoft at 1. 5 trillion is the second most valuable company right behind apple. We have big news on real estate two, applications for mortgages to buy a home of 19 over last year. Refi appl
California, florida, and arizona. There are the simple facts that valuations are lofty after 30 rise off the lows. I would notice the cyclical rotation weve been talking about in recent weeks, the flood into cheaper areas of the market has done a total 180. Does the growth sectors stocks it is the growth sectors stocks. That is the worst threeday losing streak since march 18, before we hit the bottom. Dragging the least was the classic safe havens. Consumer staples, communication, tech, they are still down 2 to 3 but that is relative outperformance on a day like today as we are seeing investors flock back towards the stayathome stocks. Kroger up more than 2 . Netflix getting a lift. Butox is flat on the day, it is those virus safety plays investors seem to be interested in. There are a few stocks investors are interested in. Theyre only 11 stocks in the green in the s p 500 at the moment. David thank you kailey leinz for that grim market report. A lot of people focus on washington when