Theres your picture the dow is added up 127 points about onehalf a percent nasdaq muted for the most part still in positive territory. Apple leading the way again. Its been up by more than 1 josh brown, apple is now the single largest s p 500 weight over the past 40 years at 6. 5 that in and of itself tells the story of how well this stock has done yeah. I mean its undeaniable. Apple would be the company you would pick i dont think it would be difficult. You could throw a lot of other names in there this should be the largest wagts. It makes perfect since given the success of the fundamentals of the company itself why wouldnt it be the largest stock . However, this is as extended as ive seen it since 2012. The stock is now 47 above its rising 200day moving average. Historically if you bought the stock at anything even above 25 or 30 above its 200 day moving average, that had typically been a period of consolidation to follow it may not be the best idea with fresh cash to go plowing int
Delays from washington from the trade deal to the stimulus negotiations, deadlines and expectations being pushed back the weve got 59 minutes left to go in the trading week s p 500, 16 points from a record close. Down right now, jon. Still higher on the week everyone except the nasdaq great to be with you this afternoon. We have a big show coming up to finish out the week. Were going to speak with minneapolis fed fred neel sakashkari and later, as stimulus talks grind to a halt, well speak with Maxine Waters about whether there is any compromise to be had. Plus, shell discuss a new bill encouraging the fed to use authority to close the racial wage gap in this country mike santoli is tracking the Market Action. Start us off on the broader market. You can call it resilient or fatigue or really anything a standoff here at the record high levels of the s p 500. The past four days have basic clind of touched it or been shouting distance of it. The were just hovering there. Up 3 or so month
Very, very, varied longtime. What does that mean for u. K. Asset . Strategistnvestment is joining us now. David, the u. K. Economic outlook is really bad right now. We have had a bounceback a little bit in the month data, but it makes grim readings. U. K. Asset pricing enough in terms of the downside . Dont think they are pricing enough bearing it was a truly terrible q2 gdp number. That was expected. At the moment, investors are taking some comfort with a decent pmi number for the u. K. Some of these monthly gdp data from the statistics have been revised up for june. After such a big decline, we are going to get a bounce in q3. We may get doubledigit growth in q3. For the headwinds are really significant. It is being massively underreported in the u. K. It has been a sticker shock for investors and for households and consumers from the furlough scheme. This brexit is still hanging out and never seems to go away. Alix what is the down lot what is the Downside Risk to the furlough . Is
Nasdaq hits an alltime high as a combined value tops the gdp of the worlds thirdbiggest annomy, cash trade is just hour away. Here are your top headlines from the bloomberg terminal. Trump says tiktok must close its u. S. Operations by sold. Ber 15 unless it is he insist any sale must include a substantial payment to the u. S. Government. Global equities trade makes after a tech surge sent the nasdaq to a record. Isn amid a positive u. S. Pronounce and hinge from trump as he could face executive action on fresh virus release. Results easing continues infineon. The buyer warrants that the pandemic has stunted demand for nonessential medicines. We wait on numbers and it looks like we are getting numbers from British Petroleum right now. Annmarie, what do you see . Annmarie the dividend to the oil make it maker is cut. This is the First Time Since the bp oil spill in 2010. A historic moment in some senses for the oil giant. , 5. 25. Quarter dividend 10. 5. Second quarter came in at 6. 6 1
Whatsoever theyre pure slight of hand. Do i have more pencil . Stocks are also exactly what we need to help keep this market moving higher like we did today with the dow gaining 290, s p jumping and the nasdaq 2. 13 because apple and tesla gave you fantastic news about what it should be a 4 for 1 and 5 for 1 stock split respectively again, no new value but boy, do people love it theres a reason we have to feed the bull with more nourishing stock blitz and ill tell you why. Years ago individual investors deserted the stock market with the implosion of 2000, 2001 and financial crisis of 2007, 2009 they gave up on the asset class and started tiptoeing back, looked enticing and something would go wrong 2015 mini crashes. But in the past few years, beaten down individual investors, a lot of younger investors intrigued by low to no commissions. Finally started buying stocks again. Despite all the gray beards telling you its impossible to beat the market, despite the supposedly brilliant Mone