Bought bank of america for 12 Straight Days. You own it, what do you think . The stock is still down we like it, we like it for its diversified businesses ive been wrong for the last, you know, year owning this stock, but as we get forward to i think closer to a normal market, whenever thats going to be, bank of of me and j. P. Morgue aren in a good place. They have a lot of businesses and are trading when you look at the market at a very cheap value. Yeah, the catalysts are not there yes. He as got a good position in it. Jo he, 12 Straight Days, right . Stocks up 8 in that time frame, maybe giving it a bit of a jump start, 337 million they know own almost 12 of the outstand, should investors following the oracle into bac and maybe the banks more broadly . Well, i mean, colt he could buy it for another 12 days he cant fix the headwinds you know im in pmorgan. Thats the one bank in the best in breed the reasoning behind why i am not in that is just the significant consumer exposure that
China sea. Coronavirus cases are in the u. S. Florida passes new york is the second highest state after california. Gold futures had a record, beating levels last seen in 2011. Sasol are plunges. Lets take a look at how export thesis shaking up when it comes to the start of trading here in asia. This is what we are seeing when we are seeing futures. U. S. Stocks fell for a second day on friday. There is a faltering sense of recovery in the u. S. This is expected to focus on unemployment insurance. Pelosi has called that passage contracted the futures is down by a 10th of 1 . Japanese stocks coming back online. Mildly positive. Sydney futures extending losses down about a half percent. A flat start to the cash trading session. Lets take a look at gold. That is always the been the story. Gold prices are not looking too far behind. General concerns about where the Global Recovery goes from here. Global virus cases have exceeded team. 1 million while there are signs the virus spread is slo
Impact on Small Businesses is still unknown. Boris johnson announces a dramatic lifting of lockdown measures imposed in england as the u. K. s chief medical officer warns the virus will persist into 2021. Its just gone 6 00 a. M. In london, 7 00 a. M. In paris. This he question is why is Anthony Fauci talking about a disturbing surge . Are we preoccupied by the two magical words from Steve Mnuchin . We will exit the session at the end of the year, with 10 unemployment potentially. We are hanging our hats on the holy grail of hope, but the reality of real human hotspots in this covid crisis. Nejra yeah, absolutely. When you talk about the real human impact as well, yes, we look at the fact cases are surging in the transmission rate is actually above 1 according to some estimates. The real human impact is on jobs as well. There are really questions over when that support comes away in autumn, what that means for the jobs picture, not just for the u. S. But elsewhere as well. Manus no, yo
The market while classic reopening plays like cruise lines, airlines, they are moving low. Net net we are flat as we stand on the s p 500 sara. Ahead on todays show, investing legend Jeremy Grantham, stunning rally we might be realizing emergence of a bubble. Plus well speak exclusively with Marilyn Booker, former head of Morgan Stanley suing the firm for race and gender discrimination lets focus on the stories were watching mike santoli with a look at broad market action. Steve liesman highlights from fed chair jay powell and covering coronavirus resurgence in beijing mike,ic can us off with a look at the session flat on the average butthat doesnt tell the story. The average holding the gains in the last three days, wavering around the flat line a lot but mostly due to the trillion dollar trio, amazon, apple, microsoft all outperforming. This is an oldfashioned early february day where the big megacap Growth Stocks holding index together as average stock slips a little bit this is the
The Leadership Group right now so joe terranova, i go to you on that note, the melt up in tech seems to be picking up we asked the question whether the growth tech stocks wrestled the market back from value and then thats where the money is going to be made Going Forward clearly the mega cap growth names have wrestled the market back theres an added dimension to it, scott, being popularized in a lot of Research Notes im reading. Pippa stevens of cnbc has a great report element of esg investing and something i didnt think about in prior weeks but if you take all the esg funds, the largest esg etf, its popularized by all the names that youre talking about. The apples, the amazons, the microsofts, so theres an added element to these hyper growth names that are not just about the quality and the cash Balance Sheets and the very visible return to Earnings Growth but an importance as it relates to social and governance and youre seeing a significant amount of fund flows into esg and thats ev