Its the tate of the union tonight. State of the union. Biden will go with after greedy corporations. Hell propose if much higher Corporate Taxes, hell take more from millionaires and billionaires and rail against shrinkflation. But what people will be looking for is whether the president has the mental and physical stamina required for four more years. Donald trump will conduct what he calls a live playbyplay during the president s speech. He will correct in Rapid Response my and all inaccurate statements, end quote. Should be fun. To the markets, and look at this. Nvidia has broken above 900 a share. 902 right now in premarket action. It is now a 2. 2 trillion company, only slightly behind microsoft and apple. And theres a big gain for novo nordisk. Theyve got a new weight loss drug. Its a pill, and its showing major promise in early trials. That stock is up another 6. 55 . The dow industrials, pretty green, up about 100. And look at the nasdaq, up over 100 points. Modest rally in pro
News from one of our own. Brian belski raised his s p target to the highest on the street. Its good to see you. I should note you did this before the cpi report came out today. Tell me why youve taken your target to 5600 . The biggest of the bulls, thats what were calling you now. Well, thank you so much. Were humbled with that moniker. Ill just remind everyone that when we published our piece in november of last year, our base case was 5100 and our bull case was 5500. We became admittedly a little more cautious when the market was sideways in march and april, and we thought the correction would be deeper than 5 especially against historical norms. Now i think its too late. I think the market is going to correct from a higher level. Theres no point in trying to time this. I think stocks go higher, and we will correct from a higher level. It doesnt mean were not going to get the weisman pullback or the belski pullback. I think we can add to positions at cheaper levels, scott. For now we
Uber is down 9 . Its been a great performer. You and josh have talked about how great this stock has been. Does this tell us anything about the state of the growth trade in the here and now its not like the Earnings Report was that bad. I think its a great example of a measurement for sentiment and positioning. If you think about growth, s p growth over the last year is up 30 . You think about s p value, its only up about 18 . So where are our speculators positioned theyre positioned more towards the growth trade, and clearly uber is a classic example of that look at the analyst community. Scott, 92 buys on uber. 12month price target, 90. Today, after the Earnings Report, none of the analysts really budged on that price target so, yeah, i think its indicative of setting expectations, and i think right now where we are, weve had a very strong recovery off of the 100day moving average selling pressure in the early part of april. Now youre coming into a period where youre absent significa
And spending the consumer wants reliability and the consumer will pay for it thats the lesson of the icr, the big consumer conference i spent all day learning from. A day where the dow gained 150 points, s p climbed 0. 13 and prices were higher earlier today. So many retailers are suddenly doing so well from kohls to childrens place to restaurants like darden. Remember, they are owned by olive garden and then end up with a winner, of course, it is never that easy i think its worth focusing on the consumer side. At least for now even as many of the big gains in the market are coming from what we call the capital good, companies that benefit from the global, not domestic but Global Economic expansion look, ive been recommending boeing for 240 points. Im not whacking away. In fact i think this 318 stock could easily go to 400 bucks caterpillar will be huge, accounting changes in the new tax code and thats not baked into the stock as much as they try to do so united technology, honeywell,
Me jim cramer has the market lost its mind isnt it totally insane. After one more good day each of the average ascending to good highs. Nasdaq conveys. 2 ill admit, its kind of nutty, but bull markets are like that in a stampeding bull like this one, the level of optimism can feel border line delusional. Theres a widespread belief that everything works out for the best its really the stuff with novels not reality where the bad works into the good and the negatives turn into positives. Its like the saudi arabsound s mary pop pins. Now you may think its imprudent, capricious and total lilacing in any sort of rigger but what matters is this unreflective bullishness is making a lot of people money im going to lay out some particulars. Put it in a way that you know i like to do it, using stocks to tell the tale. First, theres exhibit a in the plan poe that run. You know which one im talking about, tesla this morning we learned tesla only manufactured 260 model three cars last quarter. Youre