This comes as regions across the country allowed for more businesses to reopen and with an increase in Consumer Spending well President Trump wasted no time celebrating the government report and took a victory lap as he said the recent number proves the countrys economy is roaring back todays announcement proves that our economy is roaring back its coming back extremely strong its all coming back its coming back faster bigger and better than we ever thought possible these are the numbers these are not numbers made up by me these are numbers and as i said you are going to have a fantastic 3rd quarter it will be the 3rd quarter the likes of which nobody has ever seen before in my opinion. And the good thing is the numbers will be coming out just prior to the election so people will be able to see those numbers the 4th quarter like was will be extremely good and maybe most importantly from the standpoint of our country itself next year will be a historic here. Next year is going to be an
Second week in a row that its starting out just in the right way. Yeah. I think theres people who just feel that this great shutdown is over obviously its worldwide the spending will begin again. I keep hearing that theres a surprising number of survivors that its not as bad as we thought. With the exception of some mortgages and some credit card, the forbearance wont really reverberate through the system reverberates to the banks. I know theres people who want to try to get the banks going. I say stick with whats working. I know its boring i know people want to rotate its something that Portfolio Managers love to do. I dont like to rotate into any stocks that have numbers cut thats really important. Im looking at david faber, who looks, of course, fabulous im thinking about him because its the credit markets we have to worry about, not the stocks they look great. Whats your concern in the credit market specifically, jim . Like hertz. Its not like theyre nothing. Hertz owns a lot of ca
Now more than 47 off the march low. The nasdaq closed at the record highs as well. This morning, seeing give back the dow indicated down by 345 points the s p indicated off 35 and the nasdaq off by 70 points. If youve been watching cha is happening with treasury yields, a lot happening. The 10year at 0. 82 we had been at 0. 9 . We had been at 0. 7 . We are seeing a little give back with oil prices seeing wti down just 0. 5 . We have another big show. Three squawk exclusive interviews taking place. Finding solutions for economic racial inequality. The highlight is ceo of e sen sur. And from barrons with a lot to say. Dick parsons will be joining us. A lot on tap thank you getting an update now on the reopening. Movie theaters in california can reopen on friday only if they obtain approval from county officials requiring imposing safe guards including limited attendance to 25 or 100 people, when whichever is lower. New york mayor bill de blasio is planning to make parts of manhattan, bus
Unemployment. Well talk with Eugene Scalia coming up. President trump is set to land at Kennedy Space center this very hour, to watch the historic spacex to become the first commercial company to send astronauts in orbit. We will have discussion with space should telecom mander. Chao. More and on making money. Charles the dow is leading the way all session long as reopening optimism is reflected in this what we call the market rotation, cyclical stocks are doing better as main street gains in the economy. Rotation is also the theme of the week. We saw some bonds into stocks be. Defensive stocks into cyclical stocks that just mentioned. Growth into value, about the big question is can overall value continue to rally as tech stocks head in the opposite direction . I want to bring in kaltbaum Capital Management president , fox business contributor gary kaltbaum. You love to tech stocks. Made a ton of money particularly in chips. Looks like theyre toppy at the moment. Are you moving out of
Rightwing extremist groups, and of course there was some of that, but a large number were simply ordinary working people who see their livelihoods slipping away. Theyve lost jobs, income and in some cases hope for the future. Theyre scared. A few states are responding to the demands. Florida and South Carolina opened some of their beaches. Texas is now allowing retail to go curb curbside pickups. Georgias governor brian kent went further allowing nonessential businesses to given operations. To begin operations. But the pressure for continuing to keep the economy shut remains. Even President Trump came out against georgias governor. I disagree strongly with his decision to open certain facilities which are in violation of the phase one guidelines for the incredible people of georgia. Finish i think its too soon. Gerry now, moving too fast certainly does risk the spread of the disease weve been working hard to stop, but perhaps this lockdown wasnt really necessary at all. In sweden, whic