The pandemic and lines they are shifting Rock Solid Companies are on dangerous footing and outfits are tightened emerging industries sometimes its hard to tell the difference and thats what happened today with the dow declining 78 and the nasdaqed wt a record close of. 95 let me explain the prism if you want to understand this market, the single most important fact is more covid cases are exploded back above 40,000 yesterday. Between 44,000 and 48,000 depending on your source and it really didnt matter to the averages so why the heck didnt the stock market go into a tail spin our country has hands down the worst response to this pandemic than any nation on earth with a few notable exceptions like rhode island, every level of government dropped the ball and not just the government. We keep dropping the ball with kr citize citizens, too. We dont believe some dont believe that this matters. Hey, listen, we dont have a lot of weapons against the virus lets use what we can do the pandemic i
And all right, there may be no hope to tame inflation. That is the subject of the riff. Stock market bulls continue to taught Federal Reserve Interest Rate cuts but latest fed minutes out today throw cold water on that. The stocks dont need extra juice from the fed. Consumer prices increases around 4. 5 annual rate over first third of the year. 20 over course of joe bidens presidency. Prices risen faster than wages during mr. Bidens term. You could addon personal borrowing costs. Like car loans, home mortgages, credit cards. All those are not counted in the cpi but they weigh heavily on families. Then there is never ending biden spending machine. And soaring deficits and debt that go with it. You are looking at two trillion dollar deficits as far as the eye can see. The root cause of those, is over spending. Which is running nearly a quarter of gdp, that is a peacetime record, cbo estimates that budget deficits will run close to 3 trillion dollars by 2034. Spending continues unabated f
And all right, there may be no hope to tame inflation. That is the subject of the riff. Stock market bulls continue to taught Federal Reserve Interest Rate cuts but latest fed minutes out today throw cold water on that. The stocks dont need extra juice from the fed. Consumer prices increases around 4. 5 annual rate over first third of the year. 20 over course of joe bidens presidency. Prices risen faster than wages during mr. Bidens term. You could addon personal borrowing costs. Like car loans, home mortgages, credit cards. All those are not counted in the cpi but they weigh heavily on families. Then there is never ending biden spending machine. And soaring deficits and debt that go with it. You are looking at two trillion dollar deficits as far as the eye can see. The root cause of those, is over spending. Which is running nearly a quarter of gdp, that is a peacetime record, cbo estimates that budget deficits will run close to 3 trillion dollars by 2034. Spending continues unabated f
Of the aisle this morning. Amazon, the name to watch costs 1000 share yesterday. Reagan on the massive milestone for amazon coming out. Markets like this this morning. A mixed opening this morning. Expect the dow industrials to be down the flat. Up close to the flat line. Take a look at the indices they are. Ft 100 up a quarter of a percent of the dax up as well but cac quarante down a fraction. The nikkei average slipped below were on the session in japan. New details in the dui arrest of tiger woods. The legendary golfer was found passed out at the wheel of his car and had slurred speech at the time of his arrest. No signs of alcohol. And you shake. Scarpelli outside cbs coming up there. All the stories that this morning. Fox Business Networks Dagen Mcdowell. Three com Investment Officer kevin kelly and townhall. Com Fox News Contributor guy benson with us this morning. Great to see you. Thank you for being here. Maria had this to come at thank you. Maria you had a great show yesterd
Talking on scott wapners half technical foul report, that the stock had come down too far too fast i like nvidia the company very much, so does andrew by the way, and when i debated him about it, i thought he made a lot of sense, the stock had indeed gone from 102 to 168 in a little more than six weeks. Yet i felt that the analysis was a bit more than a speeding ticket for nvidia. The stock had accumulated for going up, up, up we agreed to that today when scott wapners Halftime Report and it got a lot of tourists i love that. And these tourists were easily panicked, they were fellow shareholders that had to be shaken out with nvidia down from 150, down from 168, is that enough of a correction to get him started with some buys certainly at 1. 68, i think the answer is yes. But i also have to tell you, that the first buy if you missed the bottom today, may not be your only buy. The second reason for the decline, kind of thoughtful, but i think mistaken downgrade of apple today. New name