Today. With the dow jones average skyrocketing 530 points, s p 1. 32, nasdaq 1. 72, one point before more saber rattling with china. All sorts of beaten down stocks, though, were higher. While the covid19 winners, well, they got slammed theres just one tiny problem with this action we dont actually have a vaccine. Does that mean the stock market is getting ahead of itself lets unpack the issue first this rally is based not just on hopes of a vaccine but a firm belief that the whole virus problem isnt nearly as dire as we thought a lot of people feel it has been blown out of proportion by the media, and the president s right, the people feel the president s right when he says we should open up everything betting on a vaccine makes sense. Since the beginning of the pandemic they warned us a vaccine would take a long time the fastest was the mumps which took four years. Every day were bombarded about another attempt to end this nightmare. Today we heard merck is working on a Magic Technol
Lipton with the details. Josh so melissa, apple of course already designs processors for iphones, ipads and watches now it is the macs turn apple has reportedly planned to announce later this month that it is switching from intel chips on its Mac Computers instead, macs will have an arm based chip designed by apple apple stock is on a roll the team at ever core likes what they heard here. They say apples ability to design chips like this inhouse is under appreciated by investors in their opinion as they believe this can help give Gross Margins a boost. The report indicates these new chips are more power efficient with better graphics lighter, thinner macs could be on the way if these machines are attractive, it could help them stand apart from laptop rifvals bottom line, how concerned should intel investors be by all this this wont have a big Financial Impact for the chip giant. By his math, apple is a low single digit customer. But it could have a reputation impact if consumers get mo
Two million for the nante straight week. And the fed could hold further guidance until the fall. B. O. J. Upped the board for Small Businesses. The question you may be asking yourself in the market today is where the focus will shift in todays session from reopening to escalation. Hong kong very much the focus over the abandonment of the growth target for this year which was widely anticipate. The central bank that we learned overnight is india unexpectedly cutting rates with g. D. P. Set to shrink. We had that note from goldman talking about the worst recession ever in the Second Quarter for india. Weve got a 40basispoint rate cut to 4 from india today. Little bit of weakness in the rupee. In terms of the broader market, youre seeing the hang seng lead those losses in asia there is red on the screen across asian markets. Also u. S. And european futures pointing to a lower open. A clear risk coming through today. The 10year treasury yield drops by three basis points toward the 64 and o
That name. Finally, what if youre caught in the middle . You rode the recent rally but got in trouble with this weeks weakness its time to risk less to make more lets kick things off with the dollar seeing a bit of a rebound today after more commentary out of the fed this week put pressure on the greenback. The dollar still down 5 from alltime highs and just narrowly positive on the year the emerging markets etf which typically benefits from a weaker dollar also seeing gains today but still underperforming the Broader Market this year carter worth warns there could be more trouble brewing. Take it away what have you got for us you covered all the salient points thats exactly right we know that emerging markets are often debt laden than boring in dollars when the dollar weakens that deflates the debts thats a good thing. Or a lot of commodity exporting countries, a weak dollar is good for them while emerging markets did do well, theyve still yurnld perfo underperformed the s p lets look
Opec agreed to extend its cuts through july amid positive Economic Data and demand is about to return to the market and carter worth says it has gone too far too fast. Carter, take it away this is a poor area of the market for a long time and it collapsed here with the covid news and has recovered lets look at a few charts and figure it out. The first, of course is the table and if you look at the ten sectors and it composed with the s p 500, that which is down the most is often that which is down the most and so you can see the stacking order here and energy is up almost 100 followed by Consumer Discretionary almost up 60, of course, by amazon. Home depot and others and the s p bringing up the rear at 46 look at two charts and look at the xle, versus, the etf dominated by chevron and exxon and the 40plus percent rate and this is moved, 22 to about 44, but what you can see quite clearly is that were up against a fairly welldefined downward trend in effect for the past two or three year