Impressive as that is my favorite fact today the founding director of the National Museum of africanAmerican History and culture, that jewel on the National Mall created in 2005 and opened in 2016. He wrote about it, about the whole experience in his book a fools ear ran, creating the National Museum of africanAmerican History in the age of bush, obama and trump today is juneteenth and on union troops arrived in tax to announce the slaves were free. Meaning of the day and significance in American History is front of mind this year and theres no one better to discuss this than secretary bunch. Secretary bunch, welcome. My pressure to see you as always. Host we have a couple of things in come. You and my mom share a birthday and also were both both born in newark so it is great to see you again of a long while. Lets talk about juneteenth. Everybody is talking about juneteenth this year. The president told the wall street journal that he, quote, made juneteenth very famous. Nobody had eve
Expected i think were going through a period of i hate to use that cliche, rational exuberance. People want to get back in the market and theyre being when you see this nickel you featured highly for the last couple days, people are just anxious to put money. Theres a lot of money on the sidelines. And i personally think that we should be concerned and be concerned about whats ahead for the economy. The rest of the summer and into the fall i mean, i think were living in artificial dream world at the moment i think unemployment is going to increase i think that businesses are not going to come back to work as fast as they have. On the other hand, on the other hand, and im going to be selfish, we have companies that are doing well in this environment. But they in special neariches. There are companies who are going to increase and probably certainly a company like facebook and apple and several of the others you mentioned are beneficiaries of this times were living, the Delivery Companie
The attention to spend, and maybe most bullish of all, prime pe penetration. They reached a record high level. We think globally they started around 150 million subs. We think they will exit this year doclose to 100 million sub. When were more bullish we will raise the price target how sticky do you expect that model to be based on the research you said some of those satisfaction results among consumers have come down a bit yeah, it is an issue we first saw it clipped down in our survey work, and why would satisfaction be falling and slipping at amazon it used to be high 80 of customers described themselves as very satisfied. That number now is in the high 60s. We think near term there was probably disappointment around covid disrupted deliveries i am worried they have increasingly put more and more vendors on the sight and they have sacrificed quality for selection. So those are some issues, but in the next five to ten years they need to get the satisfaction scores higher. Good mornin
Conversation, what jack dorsey told barrons. My colleagues, ben levisohn, carlton english and jack howe. So, ben, according to lpl, the market had its best 50day streak in all of history, and that was before fridays 800point jump. Is this all about jobs . Whats going on . Yeah, i mean, the market certainly sniffed out something, Something Big happening, and it really, i think, was shown in this jobs report. 2. 5 million jobs were created last month, and to show just how crazy that number is, the most optimistic economy who was surveyed expected a job loss of 800,000. I mean, its just an enormous dishes, and this is difference, and this is fantastic news showing that the recovery from the coronavirus shutdown is going faster than anybody really expected except for maybe the stock market. [laughter] jack so as investors, with we a always want to think about risks, right . There could be a second wave of pandemic, we still have three times as many people collecting Unemployment Insurance
Good morning im becky quick along with joe kernen and ars there are some red arrows. You have to look at what has been happening over the last week joe mentioned it is up 3. 5 this week alone watch what has happened. The crazy whip saw market picking up again walking you through the dow. Thank for peter for helping me out with this. The record high 25,551 on november 12. Falling to the low on march 23, 18,591 yesterday, june 3, the dow up 41 back to 26,269 the same story with the s p. Looking at that, you will see it hit a record high 3,386 on february 19. Fell on march 23 to 2,237. Yesterday back to 3,122. It just shows you how rapidly these things have happened and how much ground has been made if you are looking at the nasdaq. Only up 1. 4 from the record close from february 20 treasury yields have picked up the 10year yielding 0. 746 . Crude oil prices are down this morning. Concerns that that opec plus meeting. That there will not be any cuts extended a lot of that comes as you ar