Proposal we could see volatility on the wu witching day options is tote expire 59 minutes left of the session were down 1. 2 on the s p 500 coming up on todays show, well discuss the massive week for the ipo market including debuts of snowflake and Unity Software with Stacey Cunningham. And Jeremy Siegel will weigh in on another volatile week third day in a row down for the s p 500. Six week lows here what he makes of the selloff lets get straight to the big stories were watching though in this final hour of trade mike santoli tracking the Market Action Steve Liesman with fresh comments and joining us to talk about the latest on tiktok and wechat and what means for tech, Big Technology mike, start us off here with a selloff in the broader market. Weve been spending a lot of time at the lower end of this recent range maybe a little too much time down there for the comfort of the bulls. This is a relatively routine pullback for now 3300 or. So we hit that a few times you go back a week w
Nasdaq up more than three quarters . The industrials also back on track today. Is there any reason for worry apart from the fact. I worry when i dont worry. I think because you change months doesnt really change the na narrative. There are pockets of the economy that are doing well and recovering housing, auto, parts, consumers, manufacturing. Did you see the numbers . The new orders jumped 5 the ism was the best number since november 2018. Manufacturing is recoverying i would argue is in a v recovery you have pocket of the economy that are not doing well. That are struggling. We have a million job in initial claims thats why i think youre going to see a fiscal package. You still have a lot of trouble in things happening with regards to travel and leisure and restaurants and that sort of thing. I do think that you get the fiscal package i dont think the change is in terms of my investments because as you recover, the economy recovers you get through the elections. I think profits recov
Plus, tesla, speeding off to, yes, another record high today what the company said about demand that sent shares into overdrive. Later on, break out the sparklers. Were ushering in the fourth of july with some allamerican stock picks. We will start with 4. 8 million reasons to rally thats because thats how many jobs america created for the economy last month, blowing away economist expectations wall street rallied on the report with the s p 500 finishing the day up about. 5 Something Interesting happened in the market today that we dont often see. We had stocks up, bonds up, the u. S. Dollar up, gold up. So, tim, whats up with todays Market Action . Ill talk about what stocks need to move higher. The macro, again, its not necessarily something to do cartwheels in absolute terms, but in relative terms to where we are, weve taken back onethird of jobs lost we had pmis around the world better this week, housing numbers that were better bonds should be slightly selling off here except for
Should dow gaining 22 points. S p advancing 1 nasdaq 1. 2 the truth is there is a lot of rot underneath and many investors are in denial about how bad things can be for some of the weaker players out there. The ones actually involved with the economy, the ones that dont have bullet proof Balance Sheets consider this weekend Warren Buffett presided over a somber annual meeting instead of festive investing. We had an older gentleman with brilliant answers followed by questions with becky quick tell you to stick with it. This time he wasnt bullish by any stretch of the imagination last week i told you it was time to start doing some selling. I still think thats the right call without a big bounce in the bottom the Charitable Trust was selling heavily at the end of the week go to actionalerts. Com Conference Call this thursday. I have to defend losers tyson foods which we bought for the trust when the trade war with china ended because they had a pork shortage. I always say its better to b
Comeback next meant. All that and so much more on making money. Charles stocks popping pretty nice for the second straight stay, in part due to better news on the coronavirus. Also moments ago, treasury secretary Steve Mnuchin tweets at the president s direction, the direction of president real donald trump, i spoke with senator schumer, Speaker Pelosi and gop leader to secure additional 250 billion for the ppp loan program to make sure Small Businesses get money they need. Of course this rally too, is just oldfashioned, buying begets buying. Maybe some pros trying to catch up. Now after breaking key resistance early this morning, folks, i want you to take a look because the dow 50 day moving average, even the 200day moving average are well within range. Could 25,000 actually be back in play this soon . I want to bring in our experts right now, bellpointe Asset Management chief Market Strategist david nelson, Divine Capital dani hughes. Let me start with you, my man. A lot of resolve.