Conference less than an hour ago. Take a listen. The senate bill, as you know, includes 350 billion in Job Retention loans for Small Business was loan forgiveness available for businesses that continue paying their workers. They continue paying their workers. Thats what we want. We want them to keep their workers and pay their workers. The mesh would be the largest Economic Relief bill in history. Right off the top this afternoon, lets update. Governor gavin newsom started by announcing his much needed Financial Relief for families across california. Im very pleased that wells fargo, u. S. Bank, it is citi and Jp Morgan Chase have all agreed to a 90day waiver for those impacted by covid19. This 90day delay is limited to more mortgage payments and foreclosures. Note bank of america was not included there. It is agreeing to a 30day delay. Some 200 other smarter state banks and Credit Unions are also agreeing to 90 days. As far as a pause on evictions for renter, a lot of people worried a
Nasdaq climb. 22 . But as much as i love it when stocks go higher i recognize the mark can only go up as much as the earnings let it. Next week we get a parade of numbers that will challenge that numbers fate. Monday, we hear from a company that has captivated the analyst this week, netflix all week weve seen analyst tripping all over each other to raise their price targets in how netflix is signing people up worldwide while at the same time increasing its prices. I typically dont like it when stocks run in advance of earnings like this one few companies can ever live up to the elevated expectations, the hype netflix isnt any company. Its a company that pioneered the company for watching the programs you like without spending all the money on cable. Its a business that can scale like no other. It even have me watching things with titles. So, my prediction is when netflix reports after the close the stock will go up instantly by a huge amount or go up over time after a dip i think the c
The new tax plan, is that something thats going to benefit us as investors. I think a lot of people are confusing the places on our screen with what happens in washington. And i can tell you that is one giganda mistake, they know nothing. Even after todays Late Afternoon pull back, the true driving force behind this market remains earnings, the profits of companies, were in earnings season. Just like the Strategic Bombing campaign from world war ii, were being carpet bombed with news. Far too many people in this business believe that what these individual Companies Say is just noise compared to what the president of the United States is. Too many investors are all about listening to lawmakers and debating polity positions rather than the merits of actual stocks, some lucrative, the others gaseous. Even though this is one of the single biggest earnings day of the year, we need to consider the effects of president trumps tax cuts. The president introduced some sweeping tax kuwacuts. We h
In fact, if you arent at least a little worried at all times, you cant call yourself a professional all pros are paranoid in this business why . Because without some permanent paranoia, you end up missing days like today where the dow lost 158 points, and nasdaq plunged 1 no day can be dismissed, especially not a big down day like this one where you might miss some major disaster lurking around the corner. Before you get to what has me concerned here, let me point something out. I got into this game im older than the old pros who hate to call it the game i got into the game at 1100. The dow is now 21,000320 back then the dow had just run up 300 points over a series of months to get to that 1,100. I liked the tape i liked the market what did i hear at the time . First people told me that i had missed the move. It was over. It was based on nothing. So forget about it second, they said theres no reason to believe the future would be better than the past. This was in the early 1980s. The j
Government solution, the public option and medicare buyin. Rather vague. 13 days till the vote. Thats politics and how about money . Stocks are going down and another decline in iphone sales, a slight drop in profit margin. Still the most valuable company in the world. Is it now a glorified utility, milking steve jobs iphone legacy . Politics and money, thats what we do. Varney company is about to begin. Well, where are we going in approximately 28 minutes time . Weve headed south for the big board and the Dow Jones Industrials are off 75 points. The price of oil has dropped below 50 a barrel. 49. 06 to be precise. Well get the latest reading how much we got from oil in the stock piles coming up at 10 30. Now look at this. This is apple. It is the stock of the day, probably. Shares set to open lower. And im going to call it a lackluster Earnings Report late yesterday to be down to 114. Emack, numbers liz yeah, the Third Straight quarter of iphones down versus sold in the prior quarter.