Were still getting the satellite. We need 30 seconds. Stephen okay, ill just take a nap then this sort of thing never happened at the ed sullivan theater. I wish i was there again. Its the late show with Stephen Colbert. Tonight, stephen sleeping or is he weak . Plus stephen welcomes Thandie Newton, and ina garten. With a special appearance by john mulaney, featuring jon battiste and stay human. And now life from his own subconscious, its Stephen Colbert stephen hey, everybody, thank you, thank you so much, please, please have a seat. Ladies and gentlemen, everybody, in here, out there, all around the world. Welcome to the late show. I am your host, Stephen Colbert. cheers and applause . Stephen hold on a second. There you go. Folks, as you can see, i am coming to once again from the beautiful ed sullivan theater here in midtown manhattan. And i can do that because a tod, may 1, the federal stayathome order has been lifted an lift and since were governed by the federal communications c
How many does it take to stop a raging bull a bull that produced the best month for the stock market in 33 years . I think we might have found out today. Looks like 30 million. Yep, just as we learned that we had the best rally since january of 1987, an admittedly inauspicious year, 1. 2 is the slowest pace this month. We also got incredibly bad news. Jobless claims bring it to 30 million over the past six weeks. No wonder the dow tumbled 288 points, nasdaq shed. 28 today this was an explosive situation. The market was overbought. We have again another Great Depression with the unemployment number that is not confidence inspiring for me i dont know about you when we saw a great labor market before the pandemic, id still be concerned after the run from the bottom stocks had gotten too hot. Were now at plus 7. 2 , the s p range oscillator, the one i swear by it fell to bottom 20 anything above plus 5 is overbought 7. 2 reading makes me concerned which is why weve been selling, selling, s
Hour the u. S. Passing a tragic milestone now. 50,000 deaths related to the coronavirus. Meanwhile, all eye ons ts on the of georgia as it tries to reopen well get a live report. Over to you, kelly thanks. First, lets get to bob to wrap up the volatile week we had for stocks and whether it still has legs. It might. The good news is we got the Coronavirus Relief package passed we got a lousy durable goods number just look at what a mix day we got here boeing has been around the dow all day. Its down 15 on the week. That durable goods number was a lot about boeing h home depot, apple, this is all over the place its not a clear direction i think the problemis the rall has stalled out a bit. Have you noticed that . Were down 2 . We have gone nowhere since april 9th. The bears are saying the economy doesnt justify 2800 in the s p 500. Its signaling a bigger slowdown the bulls are insisting the big Balance Sheet companies are doing fine feds on their side theres arguments on both sides. One
Welcome to the entire committee. Lets check on the markets first this hour. We have run out of steam the dow is marginally to the down side. Down about 31 points in the red. The s p 500 just about even right now. Flat on the day. Level 2798 there the russell 2000 flat as well. As you can see that steam running oult as we rallied so strongly off the lows that we saw just about one month ago lets go to our Investment Committee with the traders here and perhaps well start with you. Youre the one right next to me in this box. What exactly is happening right now. Have we run out of steam for this particular rally . Well, i dont know necessarily running out of steam is a bad condition markets, generally, when they rally significantly need a pause and that pause is generally a consolidation type of pattern in the markets. I think right now, most investors and most speculators are anticipating a rollover and the concern that identify is a lot of people are positioning for that rollover and los
Least for today. Nasdaq pacing for its fifth day in the green markets moving higher. Lets get to bob fast break more on this rally. Hi, bob. It is tech powering the market is choosing to believe the reopening stories will go well the airlines are all up. It goes either way on that well see if we can break out. If we can do that, were back to the levels we havent seen since march here when you have the five largest stocks, the market will be up. Thats a big meg cap rally most of the semiconductors have done well. Nvidia is up 10 microns had a pretty good week they are contributing as well. Not only is it positive, were up almost 5 better than the overall nasdaq but something very important has happened to the etf. Thats the triple q. Its amassed 100 billion in assets thats a very rare number. The etf business about 3 trillion theres only four other etfs that have 100 billion in assets and they are mostly s p 500 related. The spider s p the ishares. Vanguard has one total stock market, a