The faang index down 1. 7 . If you can believe it, from the low in march to the recent high, the faang index up more than 100 . We are seeing healthy consolidation. The question is whether or not there is more to go. If yes, there could be big pressure on the indexes. David i can believe it because i read it in your note. Big tech is one thing. It has gone up a long way, but can it come down without taking the rest of the equities down with us down with it . Abigail very difficult. The reason100, and we have the underperformance toward that index down more than ing 40 of its weight goes to the big tech names. We have chinese stocks week for the third day in a row. Over last month that new york faang index and the big tech stayathome names tracking exactly with the shanghai composite, which you could call a mini bubble. It appears to be bursting. If that is the case, there could be more pain ahead, not just for u. S. Big tech but the overall indexes for the reason youre talking about. T
Have one today, chipotle, the companies that fell a great deal and made a snap back like tulio where it makes it so you can take your Small Business and take it large, what do these things have in common . They are omni channel for companies that would otherwise fail i think its this is ingenuity quarter. I know there will be people who say its a v quarter, i know there will be people who say its because the fed i think its companies that recognize what was the matter and found ways to make money i found it a very inspiring quarter given the cynicism that were surrounded with and the negativity which is frankly overwhelming for many people so you think that even though the fed has bought, what, 1. 7 trillion in treasuries in four months and even as that pace flattens out were going to continue to get innovation like that i find there is Just Innovation everywhere. I had honeywell on last night, theyre solving the problem of the vials with plastic, there arent enough vials to go around
Erased but futures have jumped back into the green. Jim, we know its going to be another crazy week, very hard to predict. So what is your tell this week i thought the advice we got from friday ended the teeth of it but if the market is up, were still oversold and thats what you got for it but i dont think theres much that you want to buy i think youd rather wait until it goes back that swing, at 3 30, the futures were up 80, it was crazy, but i think what matters is that there are a lot of people, the feds will take action today and i come back, peter bachvar was on with dominic chu unless the fed can create a vaccine or beat the virus it doesnt matter you said on friday this is a biological crisis. Not ultimately it could i dont think it will turn into a liquidity crisis, for a state at home economy and when you have a Service Economy like we have, you get an upgrade for darden, for instance, last week, Cheesecake Factory are you kidding me anybody anywhere theres a gathering is goin
House considering Financial Relief for workers and businesses impacted by the virus. This is what the president said yesterday. We are going to be asking tomorrow, were seeing the senate, well be meeting with house republicans, mitch mcconnell, everybody, and discussing a possible payroll tax cut or relief, substantial relief. Very substantial relief. Thats a big number. Were going to be talking about hourly wage earners getting help, so that they can be in a position where theyre not going to miss a paycheck all right jim, we have a presser at 5 30, but right now dont expect specific proposals i think theyre mulling over some things. Theyll give direct support to workers, which is fabulous a lot of workers live hand to mouth. Theyre coming to work even though she shouldnt because theyre sick and this is a great holdover Small Business loans, they can expand that greatly. We have a lot of money coming into the treasury. They can waive the interest and penalties for people who file exte
Times. There will be increased security zones, though, in the embarcadero. Musk muskogee center, the waterfront hill. So if you work or live in a restricted area, keep in mind you could have your bags or packages checked delivery trucks leaving the roger the have to be cleared at pier 27th. And well hear right now from the chief of police. He talks about how it stay vigilant and patient during this time. If and when protesters show up, we will be deployed to handle that. We have extra officers that we will be able to handle that type of event if it occurs. So the message is this the one i just want to reiterate this criminal activity will not be tolerated. Officials advise people to take Public Transportation that week due to increased traffic sfmta rather says for security purposes the yerba buena station and forth and brandon stations of the central subway will be closed entire week. Trains, though they will be rerouted and there will be shuttles to help people through that time. Bar