The s p advanced 0. 64 and the nasdaq jumped 1 the world where the democrats and republicans cant make a deal on the next round of stimulus, so states have no choice but to open up. Open up everything, using masks and social distancing, as their only backstops because otherwise everyone goes broke. You just cant stay shut down without the federal lifeline come on, right the states dont have the money for it but the log jam in washington is starting to get personal you could see that when i interviewed House Speaker nancy pelosi this morning. I may be naively asked if we could at least get a deal with the gop to help out minority owned businesses in honor of the late, great john lewis heres what Speaker Pelosi shot back can we give a huge chunk of money to minorities who want to stay in business and cant, and to people who are trying to go to college or have student loans, who are minorities, who are the most effective, because they have the least chance in our country, thats got to be
Lets start with you, josh brown. This is something weve been saying probably like a broken record for, it seems like weeks now. It has been. The nasdaq, new record high. New record high. Is this something that worries you a bit that it just goes up in a Straight Line well, it doesnt worry me because as an investor, i would never have 100 exposure to anyone segment, sector or a pekts aspect of the stock market we preach diversification. Most of the people we give Financial Advice to are already wealthy. Our primary mandate is to keep them wealthy not race against the triple qs and try to do better than any over one, three, five year time frame. Theres two ways you get beaten up in this market from buying stocks at any price and paying any level for a quote, unquote great company. First cay is obvious any minute now the music stops playing and every one scrambles for a chair and it turns out there are way more sellers than buyers when some volatility gets reenintroduced to this space its
Our Investment Committee today will debate it we are in the red for the s p and the dow. Were off the session lows like carl pointed out, it may have had something to do with the headlines coming out of the new york Governors Press conference where he mentioned a phased out idea starting this friday the dow industrials only down 140 points the s p down the nasdaq is tech stocks up half a percent 9165 the level there our Investment Committee are making some moves today. Steve, youre seeing a couple of things happening in your portfolio. What have the recent moves done whan and what are you trading in and out of im not trading out of much i did sell some peleton. It worked out tremendously well. Not quite a double but fairly close. I still have some left what ive done is and i did this on friday afternoon is i added to baba in expectation of disney opening in china because i thought that would lift the market ill reduce that position back to a core position i bought some out of the money
Motorola unveil a that. We will take a close look at these devices ahead. There seems to be no end in sight to concerns over the coronavirus. The death toll continued to jump after the epicenter revised a method. Thousands of passengers have been quarantined on a cruise ship in yokohama. Demand dropped this quarter for the first time in more than a decade. For market reaction, paul allen and i spoke with victoria hernandez, chief Market Strategist at Global Market investment. We are watching the headline to see what is driving the market. One of the things we tell our clients is that we want to look through the headlines when it comes to investment and strategy. We want to take a longterm approach. Yes, theook day today, virus has caused volatility in the market. We saw that this morning when they reported the higher cases of virus in china. I think we have to look at it a little bit. The market came back and gained 50 what they lost. A lot of that because the increasing cases was due
Long as is necessary the japanese have said they will the europeans the english you know the Federal Reserve i mean this is madness were all going to pay a horrible price some day but in the meantime theres a lot of fun for a lot of people. And while the trade deal provided some measure relief there werent any positive surprises for the market it only provided a psychological relief for the market temporarily calming the volatility in asia however the nikkei and flat the shanghai composite fell half a percent and in the all his press interview he did not characterize this as a quote groundbreaking move moment instead he summed it up as to what weve been saying all along it help to alleviate the current tensions in trade friction and eliminate market uncertainty it is to stabilize expectations and enhance confidence over in europe and also didnt react to President Trump self promotion the dax and the footsie traded down and the cac was virtually unchanged likewise the us markets continu