Maybe call it the ultimate catchup trade. If you missed the markets record rebound, fear not because we have three stocks that could be primed to pop later, tiktok you dont stop giving us news, that is. Theres a strange new suitor for the red hot social media app that our traders have our own take of who should put a ring on it so much to get through in the next hour, but let us begin at the beginning a brand new record close for the s p 500. This is by far the fastest bear market exit in history it has been just over 100 days since the benchmark index plunged with lows of the year. Need i remind you of the pandemic panic of march. Were up 55 since then. Its close today by the ever so slimmest of margins putting an official end to the bear market. Guy, the market acting like the pandemic induced lockdown and mass job losses simply never happened is this all, thank you, mr. Federal reserve . Of course it is y the Balance Sheet in february was 4 trillion, now howevering on the side of 7
Small and mediumsized businesses that were in sound Financial Condition before the virus impact of the economy we will hear from the head of the fed in boston and banking and business leaders. Will come tog order. This is a hybrid hearing meaning some of our commissioners are appearing in person and witnesses will testify remotely. Let me offer a few Video Conferencing reminders. Before you start speaking there will be a slight delay before you are displayed on the screen. Click the mute button until your turn to speak or to ask a question. If there is a technology issue, well move to the next speaker until it is resolved. You should all have one box on your screens labeled clock to show you how much time is remaining. Congressional Oversight Commission pursuant to section 4020 of title 4, subtitle of the cares act, the Commission Must conduct oversight of the 500 billion authorized for the Exchange Stabilization fund. As a part of our oversight work, the commission has decided to hold
Andrew ross sorkin with joe kernen becky is off again today a little in the red. The treasury yields and earnings that may have an impact on all of this. The 10year note, we are now below. 6 we are down to. 592 we can debate what that means for today. Discussing Market Recovery and earnings Kansas City Southern and United Airlines ceo and health and Human Services secretary you want to stay tuned to squauchl the nasdaq down pretty significantly. It was up two or three hundred. It was up and did you know and up and down. It was really crazy. You heard cramer talking about that it was truly crazy. Insanity. The didnt hold on to the big gains. I think it was down almost 300 when cooperating on that at the end of the day, well see. I heard it said, well, you gave him an out he could have been resting on his laurels by now saying i would at least nuance it so i could claim to have been right if we had extended here. Doesnt it feel extended here. If i were paulson. Fur trying to be right all
On the walls check out my twitter feed. See all the ridiculous speculative names people hope ill mention or pump same deal, no earnings, but right on stocks. These are textbook signs of what we call froth. Thats what this is. Its froth and you know what . All the froth got crushed today. Dow plunging 517 points, s p plummeting 117 , nasdaq nose diving 1. 55 not bad for an amateur so whats become too riskier let me give you an example last night kind of cool. We had novavax on, hottest stock on the market. Vaccine developer working on something for covid19 the stock runs from 18 to 40 in two days i cant recommend Something Like that thats this, you know, novavax is this, okay. Good guys, but it doesnt matter it actually managed to rally today. Maybe novavax wins the vaccine rate if they dont, the stock is going to get eviscerated id rather have you in something thats diversified glaxo, pfizer, j j same for biotech stocks. Anything related to ebola, flu, except regeneron they have little
Firmly above 1. 7 . Andrew thank you. We have a crazy big show for you this morning lets just tell you about the lineup among the highlights, we have author ben measurer. Former of ceo of airlines. First Television Interview with the ceo wework in the midst of all of this big questions. Ceo of General Mills and then someone who never holds his tong, venture capitalist and investor coming up in the next three hours. We are going to do it. History in the making today. Central bank will begin buying etfs their Corporate Bond etfs but the First Time Ever. The idea is to be able to direct the money into the credit markets faster than by buying bonds. Reporting that the purchase about 250 billion of the feds 750 billion program inching closer and closer to stock etfs. Probably not a health of a buy on this buy owe tech etf we cant make that leap, right guys when you read this, werent you like, etfs it is not that favre a jump once i read it, instead of this bond, that bond, lets do it i unde