Its a mixed day stocks reacting to the vaccine news josh, it seems funny to ask the question about tech on a day i showed you the index is having a nice bounce back day since that index hit its high on monday, 13th it hasnt traded all that well what do you make of that well, were working on josh browns mike maybe he did that on purpose since its my first day back joe, do you want to take that same question . There we go. I was going to say this is going well so far. What i said was first of all, welcome back technology can you hear me i can hear you. Amazon was down 12. 7 . Amazon was down that its 1999 all over again understand that 1999, once the names like microsoft rolled over, they were in a multi year decline where technology under performed. Thats not the case well be witnessing right now lit be a pause that refreshes. The fundamentals are strong for Technology Technology is the economy and there you go today, youve got amazon recovering 6 of the 12. 7 decline it witnessed last
On this thursday, jobless are front and center jon jon . A News Conference center. Jon a News Conference over the weekend, lisa, i love this about the great depression. That after delivering record fees worldwide for the firm. Just try to reconcile those things for us. Lisa its a boom of fees in a time of incredible uncertainty coming on the heels of fiscal stimulus and the question is how do they pair these realities . We will have more on that decision at 7 45 a. M. , i am watching it even though guy johnson calls it a snooze. Hopefully the press conference will be less of a snooze. Tom, to your point, jobless claims and retail sales are already anxious history, but we can get a sense of how much momentum there was going into this resurgence of cases in the virus. We are also getting netflix earnings after the bell. Interesting to see if some of these high flyers improve. Me you would never catch characterizing and ecb News Conference that way, would you, tom . [laughter] tom never.
Asset management lets go to wall lets check the major averages they did jump following the release of the jobs report the nasdaq 100 and some big names within it. Amazon, microsoft, netflix among those hits new milestones today. This incredible ability for the market to shrug its shoulders at the spikes in coronavirus cases around the country i mention some of those new highs. Everything from amazon to netflix to square and twilio and tesla and docusign what the you make of that ability of the market to stay focused on whats ahead . I think this is really difficult time right now for investors because you kind of have to keep three things in your head at all times the first thing is that we are having this resurgence and the data from some of the biggest cities is getting worse and worse and now out in the suburbs and in some of the states that had not been touched by this before, so you have to keep that in the back of your head at all times. Maybe it chasens you and calms you down a
Warrick dunn will join us to talk about his years long fight against racial inequality and how the league is addressing it now. Power lunch starts right now stocks have given up their rebound sdwrurjust turning nega from moments ago you can see were just slightly on the negative side. Essentially, the transimportapo still up thats good news banks were much stronger earlier. Flatti istish ow. Energy has gone negative big movers for the reopenings. All now on flat on the day el tell you why today is important. Were conditioned to buy the dip. Buy the dip worked very well in march. Remember, very rare to have the s p down 5 on a day it happened yesterday down 6 . Buy the dip worked well in march and april and may. The question is will it work now. Take a look at some of the stocks the airline, some of them holding up all right united been talking about all week the crazy moves thats ahead but its holding up pretty well these crazy moves here but its still up off of the lows marathon banks
As a result, there is another divergence. We may have risk stocks higher but we also have haven bonds and the yen higher. The japanese yen now up a fourth day in a row. It tells you not everybody is believing not just the rally today but the rally we have had in recent weeks. David in fairness, you cannot blame investors if they do not know exactly which way this is going. Thing started up a bit and then came down. Some of the stocks that have been beaten down came back. That is a big piece of the rally. One reason some strategists and traders do not like it in terms of the companies that had been january,y the virus in february, and march such as the Leisure Companies and the airlines, there has been a bounceback over last few weeks. Some say the rally off of the lows in march, there are holes. If you look at the s p 500, there is a huge move down from the peak to the trough. Now we are halfway back up. It is hard to know which side and what the greater risk is to the upside. Do not f