Yeah, President Trump started promoting mask wearing on twitter. A major shift and the stocks have been fitted from a reopening economy are higher today and thats how the dow jones gained 160 out performing the s p 500 but trouhe nasdaq. the cramer covid19 index is out. The recovery stocks are in at least for today our country has the worst coronavirus outbreak because we turned wearing a mask into a cultural issue the president tweeted a stark black and white picture of himself wearing a maface mask wh the explanation saying many say its patriotic to wear a face mask when you cant social distance there is nobody more patriotic than me, your president. End quote. Well, kind of the only one why does it matter because President Trump is the de facto leader of the anti mask faction. Thats why he spent months refusing to wear a mask in public and framing this as an issue of personal freedom. That emboldened people to take ridiculous stands against mask mandates invoking the first amendment
Billion market mystery thats how much facebook added in market cap today. The reason not entirely clear many pointing to the launch of reels, the answer to tiktok. We should point out that news was out yesterday morning. Facebook shares today surged 6 to a new alltime high so guy, whats your take on this move well, i have no idea why it moved like this. Id be lying if i said i had an answer i will give credit to karen because shes been on this something we said, you go back to the middle of june. I remember this when rei, north face, patagonia came out and said they were pulling their ads for a month. I remember saying youve got to pull the rip cord on this. Theyre the first but theyre not going to be the last that proved to be correct. On june 26th, the stock traded down to 207, cratered and then closed higher on the day something we said is and ill say it again, theres nothing about facebook i like in terms of the platform and ill continue to say that this reversal tells you all you
Thinking about over the weekend . Next week, which is going to be just gigantic we have everything from ibm, we will bookcase ibm on monday and American Express on friday, both will be challenging and i think they could determine things. Carl, i have to tell you, 8 30 santelli comes on and gives you that housing start number, then diana talks about how there are not a lot of houses. I sit here and i think the fed has done a magnificent job, what can they do . They can take rates down to the point where, yes, maybe jpmorgan doesnt make as much money, bank of america certainly doesnt, but people are buying houses and thats whats been working in the stock market this week is the housing trade the lows, the home depot the deere small tractors, that stuff has been flying off the shelves and thats exciting. It was not, of course, the cloud, saas stocks and cybersecurity. Theres always a bull market somewhere. Right weve been taking note of all the upside reannouncements today. Today its daim
Saving in terms of production and marketing costs. Of course, the question is sort of how that impacts the question next year when we start to see them ramp up the production again or even second half of this year. But to your point, mike, about digital, i think what really is driving this stock higher today is not just the fact that disney plus is doing so well, hitting 60 million subscribers, four years ahead of the goal of hitting between 60 and 90 million subs so really far better than expected in terms of disney plus but also the fact that the company is really doubling down on digital theyre committing to build another digital streaming service, internationally, also talking about this mulan strategy, offering mulan at 30. Really interesting to see the company push even further in that direction this at a time when the parks are struggling lets take a closer look at the park segment, taking a 3. 5 billion hit due to the coronavirus. Joining us now to discuss that is former design
Infections heading towards 16 million. Hong kong says the situation is increasingly severe. Has extended the Wage Subsidy Program beyond september to protect the economy from fallout from coronavirus. Shery a quick check of how the markets are trading. We are seeing u. S. Futures kicking off unchanged. This after we saw u. S. Stocks rally amid encouraging vaccine news, this time from the university of oxford and astrazeneca. The s p 500 finished at the highest since february, turning positive for the year. Tech and discretionary stocks outperforming. The vaccine optimism sort of faded. We have a very Competitive Landscape that failed to impress. Risk was revived in the afternoon session following improved u. S. Infection numbers. California and arizona reporting a slow down infections. We still have that stayathome defense rate being back with strength. The underperformance from the russell 2000 very pronounced, while the nasdaq also finished at another record high. Take a look at what