As the action ultimately turned negative today down. S p declining. 80 and believe it tech and 234nasdaq plunging 1. 6. This month the market is led by the covid winners, the names that do fine when the economy is frozen those are not the stocks that lead us higher when times are good but as we saw today, covid plays could lead lower when the economy is improving are we finally emerging from the trough lets consider the case here first, you need to know. Were in a dangerous place its dangerous to be where we are because you can never tell if the economy is really at an Inflection Point until after and even if it is, covid stocks make up the average and drag down everything were now in the third day of this rotation with the Fastest Growing covid winners, industrials, travelers, retail these groups struggled to find their footing because they are covid losers but now in the morning today but the last two days, they are on fire i mean, did they give up the ghost at the end of the day . I
Demand changes to petition their grievances is in the very best tradition of america. No history of the United States, o recounting of the unending struggle to live up to our ounding promises would be complete without recognition of the peaceful movements that have nation forward. To the beabolitionists suffragettes, to the countless and heroic souls who marched in support of the civil peaceable ment, assemblies have moved mountains n this country and they still can. When america saw the horrifying a Police Officer illing george floyd, a brutal killing that invoked for many he nations long history of acial discrimination and injustice, americans rightly and assembled to demand justice, justice for every of skin regardless color. Ut what began as legitimate protests against a vial act of sadly, were soon hijacked and tunityists opportunist and violent radicals. Rioters had , injured more than 700 law officers across the ountry and had murdered david dorn, a retired officer who erved st.
For the city. Deals top 70 billion in just 24 hours. Just how much can m a avoid the risk rally . This is the European Market open. Less than a halfhour to go until the start of the trading day. A number of scenes to talk about. Not a great deal of movement in these markets as a result. We are kind of holding our ground after early risk appetite. When you look at the currency markets, a lot of that has been pared back. Expecting to see a bit of a bounce at the start of the trading day in europe. Lets put the u. S. Futures. Some moves to the upside also foreseen in the u. S. But not by any stretch large gains, partly reflecting the strength we have already seen this month and over the past few months on expectations of trade negotiation success and the Balance Sheet. Lets not forget the other factors that have driven us higher. Lets have a look at what is going on on the gmm. This shows us the Asian Session quite nicely. A mixed picture, quite a nice story for the session. We are not su
Regulators spoke to allow his company to commercialize their attack in San Francisco. A government probe into malicious attacks on Cloud Computing including microsoft roles in a chinese hacking of government officials. We have the details in the aviation sector will pass a 5 trillion bill to fight decarbonization. San franciscans get ready, you are about to see even more robotech sees on the streets. California regulators voted in favor of waymo and cruz pay Driverless Services. The ruling came after hours of public testimony with citizens arguing for and against the services. They can run full Driverless Services charging fairs day and night here in San Francisco. The ceo joyce me now. Ed how do you operationalize this . It is got in your favor. What happens next . Its been a big year of scaling for us. We ramped up our operations as we see these performances improve on the road. With this permit we can convert that service to a preservice. A signal to california that we will prioriti
Cap then i put it down not on my head but on the desk of my day job on jacsquawk on the street i wouldnt put it on was i concerned about a jinx the dow dipped and the nasdaq gained 0. 65 led by the semis. I dont think not wearing the hat was about a jinx but something more pernicious, frankly. Back in the 80s and 90s we celebrated each millennial milestone on the way up. They were hard fought and sometimes they were trapped when the dow was stuck in the 2000s from july of 87 to january of 1992, a crash like we had in october can do that sort of thing. Other times we breeze through the milestones lost some hats, beautiful days then came the turn of the millennium and while the dow held in there the 77 collapse of the nasdaq was too much for people to handle a whole generation of investors vanished many never came back those that did came back, they got crushed by the Great Recession when those round numbers reversed and reversed hard and cut by more than half at the bottom. Thats when i