The red. Does tech stage a rebound in october . You have huge positions in the faangs what do you think . What matters to me is sales growth they have it we have started on the digital journey. Not just in america. Everywhere, europe, asia, south america. Its a theme we have been tau g talking about for six months be p the idea it will go away after the pandemic is resoevveverreson ever that is, is ridiculous. Remembering apple or amazon over its journey had multiple 20, 30 corrections. You just got to take a deep breathe. It will come back. Did those stocks get too ahead of themselves . No. I think apple is unique. Every name has a different issue. Theres still a little bit of Consumer Electronics associated with apple this whole idea of stay at home stocks, st stocks we are going through a fundamental change in our economy. I want to own them now after the election, next year and the year after that were only in inning three look at nikes earnings. They are almost 33 direct to consum
You have that poll in the wall stre street journal and maybe the stock market considering maybe we wont have a contested lebs if the polling tells you anything accurate about where this race truly is what do you think investors should be taking from this move . I think thats correct. I think the two primary drivers for the higher market today are certainly the fiscal spending and what it equates to in the near term and the dynamic in the market for a trade and investors to extap larapolate is a rise i yields were finally seeing a welcome rise in yields and that is certainly on the belief of both of those actions i mentioned previously you have that to consider and how you want to trade that it has a direct impact perhaps on growth versus value, the polling on the upcoming election and were thinking about the president s health and what all of this means for the Campaign Going forward. So youve got a number of things in there. Lets start with yields. Rates being 0. 74 as a new high or r
Look theyre higher across the board. The nasdaq is up by 134. Its early in the morning but these are pretty significant green arrows at this point take a look at whats happening at the treasury market and youll see that right now the ten year is yielding where it has been 0. 996 joe. Tik tok, the latest here. Developing late yesterday, the u. S. Judge blocked an order that would ban tiktok from being downloaded in the u. S. The ruling is the chinese owner byte dance has more time to get approval from u. S. And Chinese Authority which is unclear if that really happens for that deal with oracle and walmart the judge did not clock a much broader ban which is set to take effect on november 12th which the way things are going will be here like tomorrow i wanted 2020 to go quickly but now im thinking its just going too quickly. We wanted to go quickly. Still 2020. You still did your best Barbara Walters with that. 2020. And hugh, hugh had a long illustrious life hugh is gone now but we remem
Tens of billions of dollars. You said thats it thats the top of tech the nasdaq was 4400 that week uber High Valuation Companies and use that as your justification to reposition your portfolio. Im not fan of it. Doesnt really work. It makes for better tv than it does for portfolio you dont take a step back and say its 100 times sales this thing has an incredible first day and you dont take a pause. Its not the whole landscape and say i dont think this is good weve seen a million kpaemexs of this. Its not in the s p 500. Investors dont own this in their 401 k its not an important stock. Its a great stock to watch fp lets address it in those terms. Now the stock is getting crowbared. Kramer makes a point. We have this tweet he had on nvidia as well and zoom. It underscores, if you will, i think, very well the landscape and what may be a pull back in some of these loved names especially over the last few months for what its worth, i dont know what octa does. I think that is indicative too
They are higher on this monday trying to work their way back from last wem wooeks sell off. Jon, i go to you first you saw enough in the sell off in big tech to put some money back to work you added to things you had. Why . I saw a lot of institutions doing that when that wave starts picking up, i start paddling faster. I rounded up certain stocks like after that split in apple. I needed to add shares to get myself to a more tradeable lot size than some of these odd lots after you get through a stock split. You end up with instead of 11,000, maybe you want 15,000 shares or whatever it is they were so accommodating letting us get to those levels thank you for that for the folks that pushed it down there. Micr microsoft was down in the premarket. It made the big turn after people were reacting to the news in oracle and tiktok and then its up 4 there was a lot of constitutional interest in many of the names of those battery stocks are you making a statement here are you making a statement