Businesses stay afloat until we get a vaccine . The market doesnt remember, which is why it got crushed today. Dow plummeting down. The s p plunging 1. 16 and the nasdaq sinking 1. 3 , nice comeback there forget another bailout there is another possibility of a Government Shutdown next month. Stocks have been getting hammered for sometime now as i listened to the talking heads today, i was kind of autohear them suddenly recognize that the big tech names act terrible. Like wow, holy cow these are down a lot we better sell i mean, of course they were also acting terribly last week and the week before so a bounce could potentially be in the offering one held by the amazing rebound in apple which at its lows today was down 25 from highs earlier this month. Apple led the nasdaq 100 from morning oblivion drenched in red to bright green in a strong rally that nobody is taking seriously except for me. Before i get into where were headed, you need to understand why this moment is perilous for s
Regarding microsoft. Some people did not like the quarter but now we have something that puts them right it not passing in terms of the growth google and facebook among a certain demographic that people want which is the 18yearold demographic. I go on tiktok and there is a good one right now about Federal Express delivering packages versus u. P. S. Versus the post office david, your kids may like it at the same time, its got a lot of viewers it does 80 million here in the states. Yes, one of mine does typically it does skew more female than male and the other one doesnt but this is a fascinating situation, guys, for any number of reasons unlike anything i can recall having seen in part because the government is so deeply involved inbasically dictating the potential sale of a business to one company. And it really ends up being one company. You know, as you guys know, ive been following this to a large extent over the last few weeks and it was a difficult thing to imagine. How would go
Yeah, when we react to those. Every day we seem to react to something different. Its shocking just how much and thats why we have such a volatile market were in now its kind of covered upa bit o that its something that has stood out for a while now. I know the theme was everybody said justice of the peace morgan under 100, thats when you have to buy it. Its been under a 100 for a while. Theyve had opportunity after opportunity and the financials dont seem to be able to get up and move and sort of break out to the upside. Thats been a hangover along with some of the industrials obviously, tech has been the leadership role. Thats been pulling the markets to the up side significantly but today were seeing a bit of a rollover we could be in for a pretty volatile session we havent seen volatility jump up the way it has. Its very interesting to keep an eye on what do you make of todays action given were awaiting all the Bank Earnings next week. In terms of their outlooks, im not sure im not
The dow is at 25,600 is the low for the weekt. Joining us this morning to talk about that is a u. S. Equity executive strategy director. And i think maybe the first time we had you on our air, welcome thank you, it is good to be on and i appreciate the time this morning we love getting the insight nanny general your Research Notes have been really clear in spelling out a narrative on the kbas baskets that work for stocks i argue it is a relatively bullish tone, but how would you put it i think the way were looking at this is were ultimately confident that you have a v sharped recovery and ultimately you have a strong fiscal stimulus to provide an effective bridge to 2021 now mic and my team have also been positive on the operating leverage story particularly as were seeing increased prevalence of companies having to do more with less just like coming out of any other resection, that generates operating leverage and i think that is actually this emerging theme for life after covid and i
The nasdaq up about four points. Yields firmed up a little. You can see the 10year, as equities came up, the 10year about 0. 624 all of this as Energy Prices got stronger the june contract up about 13 now trading at 15. 68. Hard to believe that is a strong level. 15 a barrel is pretty strong for oil when they were paying people to take it from them earlier this week. Time for the squawk planner is it . It is yours, joe. Getting to closely watched jobless numbers. More than 4. 3 million americans are expected to have filed for jobless claims that number rose on the earnings front, well hear from eli lily, blackstone, dominos. Well see if dominos has the same type of positive numbers like chipolte. Nobody eats at dominos intel is reporting after todays close. Now, andrew. Now. You were eager this better be good. You know, im just doing the update on the pandemic numbers as we do every morning it is not good it is not good global cases have risen to 2. 6 million. U. S. Cases 842,000 with