Lisa is off today. Jonathan look at the goldman note, tom. Go over that. Tom roaring 20s from goldmansachs. J. P. Morgan talking about market nirvana. Lets look at where future are right now. S p 500 futures this morning, kind of chopping around. Positive. 7 of 1 . But here we are at 3567 and ldman coming out, tom, for 2020. Lut lets go with the year end 2021. 4300. 16 upside through 21. In addition to the upside in the year end. Jonathan again, its everybody readjusting hearing, yeah, its a vaccine and i know he likes the value and e. S. G. Its got to be more than the edical news. Jonathan a vaccine is a more Important Development for the economy and markets from the perspective policy of a biden presidency. This is historic for the market right now. We talked about it reapedly, this market is living in the ackhand of the 2021. The deterioration of the covid cases and a contested election down in washington, d. C. That has not been resolved yet and a senate race that has not been reso
A lot of investors and traders like to see that broadbased movement. We have a nice risk on move. It is not clear this is not simply a bear market rally. It is too early to say. Today the bulls are out once again. David that is reasonably cheerful. Now i have to ask you about oil because it has fallen out of bed. Abigail we have oil down more than 25 . The crude oil crash continues. This is an important point relative to stocks. On the year, stocks are down 10 . Oil is down 80 . Both are considered to be risk asset tells. Oil you can make that case is more closely tied to the economy. Because you have oil solo, some of it has to do with the Technical Training factors. At the end of the day, it reflects a demand shock we are seeing. Unless oil comes back, it is hard to see the economy looking all that strong me time soon. With thetock investors case folks are looking ahead to 2021. If you have oil down that sharply it is hard to know whether that strategy will work. We will have more in
Your interview with her. It will be fascinating to hear what she has to say. David theres a lot of talk already in washington about the next one, number four. How long before we see congress back together again to act on anything . Kevin i asked that to congressman french hill, and he gave me the timetable of 60 days. He said he wants to see in the conversations they want to see happen to see how this stimulus, which is 10 of gross domestic product, see how this stimulus impacts americans, and also to get an update on the Health Care Concerns of this, to see within the next two months whether america can get around this virus and be able to bring it into place. From his Vantage Point and other conversations that i had yesterday, sometime in the next two months, potentially some more wiggle room for financial institutions. That could be the next piece of this. But a bit too premature at this point to predict out. Guy fair enough. Thanks so much to kevin cirilli, our chief washington cor
By a fraction of a percent crude oil, this is the one weve been watching very, very closely. We have wti down by 1. 6 brent it down by 1. 5 . This is quite a rebound from the lows back in june. We are up by 12 from june 21st lows so staggering move in just a short amount of time weird. Weird to see the dow so strong and the nasdaq so weak thats been happening more the nasdaq had been stronger on a relative basis then the rotation happened. I dont know what it means. Maybe its healthy this is scary and not healthy. Maybe the meeting is good, but the reason for it frightening. The u. S. Requesting an emergency u. N. Security Council Meeting today after north korea tested an Intercontinental Ballistic Missile. The missile could put all of alaska, so mainland i dont know if you call that mainland, but pretty close late yesterday the u. S. Military said u. S. And south korean troops fired missiles into the waters off south korea in a show of force back that way apparently it can reenter the
Upper 80s to the east. In san jose, mostly cloudy conditions over the santa cruz mountains. Temperatures in the 50s and 60s out the door. The visibility hasnt been a problem so far no airport delays at sfo, the international airport, or in oakland. Were kind of going through this for a good feel for the day. Wind at 6 in heyward, north northwest at 5 and fremont, the winds are going up to 8 and 10 Miles Per Hour from vallejo through venetia into martinez. We have calm winds in the san rafeal area. You will notice the difference inland. We have noticed a difference of ten degrees. Typically we should only have five day of 100degree weather so unseasonably warm to hot summer. Thats pretty spoton. Brentwood Discovery Bay topped out of at 101. Today, 90. Its off its mark. Concord, 13 degrees cooler. 60s through 70s and 80s with a few 90s. Heres thats a look at thats a look at the forecast. The brush fire in gilroy spread yesterday. Flames broke out near santa teresa boulevard. Heres the la