Subject of job creation, and youve got the makings of a real rally. Dow gaining 187 points today. S p vaulting 0. 73 . Nasdaq only up 0. 54 . Again another record high. Look, love them or hate them, if you believe that Business People know how to create jobs i dont think thats such a huge leap then having them sit down with the president and give him ideas will help the bull market calls. The meeting also helps create ate a level astability to offset the recent volatility that had many investors fretting about their portfolios. Look, the contrast in president obama is so stark on so many issues, not the least today, where the new president powwows with rich Business People and talking about deregulation meant to rein in the banks which were the enemy in the Previous Administration for many years. His universe seems surrounded by wealthy people who offer their insights, and im sure it rankles half the country. But that said, ive interviewed almost every single one of these execs around
Nasdaq declining. 26 . While the averages didnt do much, there was one recently red hot Smoking Group that really got knocked off its stride. The drug stocks going in today, the pharma complex was on fire levitating day after day, one of the strongest sectors in the market and then we get one darn tweet from the president that wrecks everything. Or does it . First, lets deal with the president ial tweet, and i quote, i am working on a new system where there will be competition in the drug industry. Pricing for the American People will come way down end quote. Not a lot of detail. Not a lot of specificity. You only have 140 characters with which to opine, but boy, oh boy, thats about the last thing you want to read if you own any drug stocks. So what do you do . Lets go mobile choice here. Do you a, panic and sell everything . B, wait to see what happens . Or c, buy the drug stocks you like because youre finally getting a bargain . The correct answer, drum roll, please. C. You buy. You
The exits . Joining us again todd where the dow gained 26 points, nasdaq climbed 0. 74 . You know, some feel very different since this election of donald trump. Theres a sense of optimism about stocks, and that optimism seems to extend to both republicans and democrats. Whether you love him or hate him, people are clearly buying stocks the way they used to before stocks became persona nongrata when it came to places where to your money. Its almost as if some sort of magic wand was waved that removed the gloom, busted it, and its being transmuted into higher prices even without any facts behind this move other than the kind of throw the bums out logic that you get whenever the white house changes handing from one party to the other. But heres whats hard to argue with. Many of the biggest moves ive seen in my career started without any apparent basis in the facts. Let me give you two of the most prominent examples from my 36 years of investing. First was when Ronald Reagan was elected to
Donald trump. Theres a sense of optimism about stocks, and that optimism seems to extend to both republicans and democrats. Whether you love him or hate him, people are clearly buying stocks the way they used to before stocks became persona nongrata when it came to places where to your money. Magic wand was waved that removed the gloom, busted it, and its being transmuted into higher prices even without any facts behind this move other than the kind of throw the bums out logic that you get whenever the white house changes handing from one party to the other. But heres whats hard to argue with. Many of the biggest moves ive seen in my career started without any apparent basis in the facts. Prominent examples from my 36 years of investing. First was when Ronald Reagan was elected to the white house in 1980. Optimism ensued which coincided with the end of the great bear market in bonds, one that saw Interest Rates climb all the way to 14 . Now, at the time few on wall street believed that
Behind Donald Trumps call with boeing, his comments on the rally and stocks and his role as negotiator in chief. Plus, softbanc ceo what is that going to mean for our economy and some important telecom companies. And twitter pulpit, fresh comments from trump and Ceo Jack Dorsey on his use of the platform and what we can expect. And a deal that will have fresh scrutiny from the next administration, the ceos of at t and time warner are facing questioning on capitol hill today. First up, donald trump has been named time person of the year. Donald trump calling tremendous honor during his appearance on nbcs today show. And also elaborated on his comments he made yesterday about boeing and air force one. Well, i think the planes are too expensive. I spoke to a very good man yesterday, head of boeing, terrific guy. Were going to work it out. But, you know, thats what im here for. Im going to negotiate prices. The planes are too expensive and were going to get the prices down. And if we dont