A passing fad and theres always a return to gold the thing is that when you have money printers in charge the act of printing all that paper money to hang around guys themselves really fills their head with dreams of its fear of primacy thats the ultimate form of supremacy is i print therefore i am in if you can pull the levers of political power with your fear of money if you can acquire assets with your fear of money that gives you that god complex that we have so much of a around the world and countries and big corporations and now its all going to come crashing down silver prices on one day in the past week it went up 13 percent so silver is back its pass through its long term resistance for the past 6 years 20 dollars and about 0. 50 has been a resistance it could not punch above that but it punched through that heading past 23. 00 it was like soaring and therefore the bull market is finally back on the confirming the gold bull market as well which never really you know hung out a
It is the 32nd time this year the nasdaq has set a record close again. This morning, we are looking at a negative picture this morning, you are looking at red ar owes. S p indicated down by about 16 points everybody is waiting to see. At least right now, 10year looks like it is narrowing to 2. 5 jobs friday today. Forecasters will expect payroll to climb 1. 48 million after june gains shattered expectations a huge number this time around unemployment is expected to drop 10. 6 from 11. 1 from june well take you through 8 30 a. M. When those numbers actually hit. News breaking this morning for those of us in new york city who woke up and thought what just happened. Con edison investigating widespread outages. As an upper westsider, no power there. You lost power . A true black out. We are in 2020, what could go wrong . I looked around and thought, it is so dark what is going on is the nasdaq going to have power. What am i going to do . Here we are middown. You left connecticut to come to
Nice trifecta reports for snap, United Airlines and Texas Instruments. Jew julia, take it away. With snap meeting expectations on earnings and beating expectations on revenue, while subscriber numbers came in half a million lighter than expected, what is is putting pressure on the stock, you see its down over 6 , is guidance that snap is planning for t addition of 46 million daily active users the company also saying its combined cost of revenue and operating costs will grow at percentage rates in the low to mid 20s year over year compared to last year the company says these increasing costs are because its investing in longterm growth snap did not give any revenue guidance but said from july 1st through july 19th snap has seen 32 Revenue Growth theyre cautiously optimistic that these trends could sustain over time but theyre cautious that trends are volatile and could deteriorate. Ev evan spiegel saying Certain Industries have benefitted from some of the covidrelated circumstances. Sn
Promising results from both of them. Later, we are expecting news from astrazeneca, thats a british company. They are going to announce the results of their phase 1 trials of a covid vaccine. Now, positive news on a vaccine usually moves the market. It certainly did last week, and i think its helping futures this morning, too. There is news on a new stimulus plan. The president says he would not approve any plan that did not include a payroll tax cut. All right. Now look at the market. It has turned around. Earlier today we were way on the down side. But now we have moved to the upside i think its on the strength of this vaccine news. The dow held to the 26, 600 level last week. 8,000 points above where it was when President Trump won election. By the way, a new the Washington Post abc news poll showed joe biden with a 15point lead, 5540. This is 106 days before the november vote. We will be talking a lot about election risk on todays program. Then theres this. For the 54th straight da
Portraying hysteria and shortage of stock creating a state of positive feedback yeah theres a shortage of stuff perceived shortage and people get you know black friday they rush the stores and they get into a fist fights and brawls and its like an american thing and amazingly its like migrated to the rest of the world even though these other countries dont have to its giving even though that they dont have these big box discounters they still like to go to the store and beat each other up because they figure thats like being an american they get a hamburger from mcdonalds you beat each other up on black friday and hes saying the National Anthem i mean america is the culture that people love and were going to get into this comparing this to robin hood app traders but you know i want to show you what i bought in black friday and that was a mini max it did sit on the shelf for quite a while but most people didnt realize many macs actually stood in for you for a few episodes during lockdow