Do you dunk the entire covid cohort or stick with it on a dow when the rose 183 and the nasdaq gained 1. 8 the reaction to zoom Video Communications after it reported a good quarter that wasnt quite good enough for wall street. This company practically sin none mouse with the new normal and look ban on 2020 as the year of zoom so when you see it down 15 its alarming. You got to wonder what that means for the rest of the stayathome stocks. The answer, nothing. Just because zooms insanely high growth is decelerating that doesnt mean the trend is over in fact, id argue it never had gone away because this year has shown us millions of jobs can be done better from home. No need for that central office. Why go to meetings to negotiate or sign documents when you do everything over the web and save millions, maybe ten, maybe hundreds of millions in travel, hotel, dinners, zoom, i mean thats how the 39 billion s p global ihs market deal was consummated as we heard from Doug Pederson on mad mone
Countrys First Federal trial over the Opioid Epidemic this monday, october 21st, Worldwide Exchange begins right now. Good morning, good afternoon or good evening and welcome from wherefore in the world that you may be watching im Brian Sullivan thanks for joining us here on Worldwide Exchange. Your chart of the day really maybe chart of the year and perhaps the one stock that everybody will be talking about and certainly is boeing. Investors losing a lot of money on friday. That stock down nearly 7 and taking the dow 170 points down with it. A rash of headlines and breaking news this morning as well as over the weekend, were going to break it all down for you. We have phil lebeau coming up live in just a couple minutes. But first, on a macrolevel you better get ready because this is a monster earnings week. Hundreds of the Biggest Companies in america set to show off their numbers and maybe this is finally the thing we need to look past things like trade fights and brexit as your driv
it will impact obviously people don t get out and go to restaurants. that will have an impact what we don t know is the duration kering beat sales to send shares higher. but the luxury brand says the virus outbreak uncertainty could hurt trends. softbank operation plunges taking a massive third quarter hit after bets on uber and wework go south. translator: we have cause for concern among investors. a drag on the stoxx 600 after fourth quarter numbers and higher numbers weight on the dutch lender let s start with some of the market price action. a bit of a muted end we have dow finish flattish. s&p up a certain amount. worth pointing out that 77 new s&p 500 highs. a couple of highlights not real areally market moving but he did define growth as being moderate no one is expecting major shifts out of the fed worth pointing out that they had signaled the coronavirus situation closely. it is too early to assess the impact we should tell you that on the subject of the coro
In fact it closed down 30 bips. Big deal. And in fact, to try to preach a lot of fear mongering right now is a dangerous thing to do. Having said that, theres a lot of damage underneath the surface. Theres a lot of stocks today. We talked about how weve been printing many new 52week lows across the board. And Commodity Prices are telling you something. And clearly is this deflationary . Absolutely. Is this good for the consumer . I think absolutely. Does this mean that Global Growth is plummeting . I dont think so. So on some level there is a supply issue. On some level theres an asset issue. And i think thats how you have to look at it. But to say the stock market is very healthy right now because its only a couple err percent off the highs is not something i would say. The tlt outsize move up more than a . Xle on the s p 500. Thats not good. 2 1 4 in terms of tenyear yields. Thats been a pivot point for a while. Were somewhat significantly below that. I still think yields go lower. I
If youre an investor you want to always Pay Attention to what the news is and probably shouldnt discount anything, but the real question is do you react to it . So we actually went back and looked, every single iphone launch within lets say the span of six weeks there were supply chain rumors making their way to the sell side that generated either cautious notes. In other words, these things are never like, hey, were hearing great things about the next iphone, time to get in you almost never saw those headlines. All the headlines we found were this is a reason to be concerned, orders arent as strong as expected, this or that carrier. So if youve ignored them all, congratulations, youve made like 1,000 percent on your money. Right, but this, steve, is not only about maybe questions of the phone and the watch and this connectivity question all of a sudden crops up out of nowhere in china that could take what some say will be months to fix. Right well, they fix ds it in the u. S. I recall