russian vaccine. yeah. which i guess is, i don t know i don t know are you going to take a russian vaccine? that s about now, we re really talking about a tremendous leap of faith a russian vaccine which i think they ve dubbed did chernobyl ii. i m going to pass. is that a hard pass yeah, hard pass chernobyl it s been approved even though it s had trials. easy come, easy go. remember, they spent a fortune on the trial and a couple people died i don t think that s the russian way. nor do i think when 28 people died in world war ii did necessarily everybody come to a fight with a machine gun fight and they have very little fear and it s demonstrated in certain trials, really well, listen, we can hope there s great science there and there is something well, they used to have great science. and plenty of scientists, no doubt. and rockets they stole a hydrogen bomb from the rosenbergs, they can do that. let s read what putin had to say, as far as i know
as the action ultimately turned negative today down. s&p declining .80 and believe it tech and 234nasdaq plunging 1.6. this month the market is led by the covid winners, the names that do fine when the economy is frozen those are not the stocks that lead us higher when times are good but as we saw today, covid plays could lead lower when the economy is improving are we finally emerging from the trough let s consider the case here first, you need to know. we re in a dangerous place it s dangerous to be where we are because you can never tell if the economy is really at an inflection point until after and even if it is, covid stocks make up the average and drag down everything we re now in the third day of this rotation with the fastest growing covid winners, industrials, travelers, retail these groups struggled to find their footing because they are covid losers but now in the morning today but the last two days, they are on fire i mean, did they give up the ghost at the end o
that we are looking at, much like we did yesterday where we were talking a great deal about the possibility of a new record even intraday or all time on the s&p. yesterday it was that bizarre russian vaccine news and i think we can all term it bizarre, but today it s moderna signing a deal with the u.s. government which is signing a lot of deals to make sure that there is manufacturing capacity in place to deliver a lot of doses of a vaccine if and when it does get through phase three trials into i was listening to meg tirrell this morning and i was looking at an email how much is regeneron getting. $500 million in july i would say, david, is there any amount that you wouldn t spend on these companies to get this thing beaten because if we re spending $2 trillion to just try to stay in place we have got to flood the market with money. make it so it s worth wise for everybody. i have emerging bio tonight, they would be helping making a lot of these giant doses and i don t thin
whether it s medical, some of these states posting some of their highest caseloads since the pandemic began, but then again optimism about the recovery at the same time. right look, i think that we are all kind of thrown it s governor to governor, yesterday in new jersey suddenly we get the you can have 100 people outside, 50 people inside. versus six we are all kind of confused. with he see some parts of the country looking worse, other parts of the country that were so terrible it s wide open and the confusion to me is what are the numbers going to be look like what are they going to look like given the fact that new york now feels like post wuhan and the rest of the country seems like, i don t know, maybe is it going to be italy, is it going to be spain i don t think it is. i think it s going to be better, but i have to tell you, carl, that the stuff that s being bought is not in synch with what s happening, particularly the airlines, the hertz rental car, we saw a ver
economy? why choose today, we got both, a one-two punch that sent the bears reeling. which is why the dow surged 265 points, the s&p 500 ran up, and the nasdaq jumped 1.75%. hallelujah after two days in a row, the kodiaks and grizzlies were ready to pounce, but thanks to the chinese thaw, the bulls racked up another win of course, tomorrow is another day. because i m mindful that apple reported numbers tonight that came with a forecast that some regarded as disappointing along with news they re not going to break down what certain products are selling well or selling poorly and you know what? i think there are a lot of people who wanted to guide up and didn t want to hear about this information and you know what? they re not going to do that for the sake of doing so so the numbers might cause a pause in the tech rally tomorrow probably catch some downgrades of apple but let s not get too granular about apple, you know what these are volatile times think about what happene