The regime changes that are out there in our medicine, the pandemic, as with about the american economy. James bullard of st. Louis will join us here in a moment. What we would really like to do is talk about the regime changes that we see right now in the market. To me, it is a very correlated list up off of the navarro uproar of 14 hours ago. Jonathan what a move overnight, whipsawed by Peter Navarro, who set the u. S. China trade agreement is over. The president of the United States, his boss, coming out and correcting him. The confusion on that issue is massive over the last couple of weeks. I think john boltons book over the last week or so has made things a little more interesting as well. It. No question about i know lisa is almost 2 3 of the way through the book. One question which you are an expert on commode is the great distinction between larry kudlow and Peter Navarro . Jonathan Lawrence Kudlow seems to have the president s thoughts very much in mind. He is speaking for th
59 minutes we are session highs on the dow record highs on the nasdaq composite intraday and set for a record close coming up, the rebound for Airline Stocks has been fast and furious. Is there enough demand to justify the rise well get a firsthand look with robin hayes. Plus, a powerful email from a Goldman Sachs employee about equality in america made the rounds on wall street in the past few days. Well speak with freddererick ba that is coming up on the show. Lets focus in on the big stories were watching to day. Mike san thole and Brian Sullivan watching the Energy Sector which is helping lead the market gains today mike, lets kick things off with you. Yeah, well, this rally continues to impress not just in the magnitude of the gains since the march 23rd low but the persistence of it. Look at a two year chart this is really now a broad move. Up until around this point, you can say it was relatively narrow yes, some of beaten down stocks gained most. Mostst reas of the reason is th
Investment committee ubs private wealth management. Hes one of forbes top 100 Financial Advisers stocks have given back about half the gains they had earlier today. Dow was up better than 800 points there are concerns lingering about the virus. How quickly the economy will bounce back. I think jim took me up on my invitation i was going to catch the u. S. Open and the opening game of the phillys and the Training Camps what else is there to do other than to be on your show, judge im glad to have you. Of all days. We had this huge run now we had this thunderous move down what does the action tell you about where we truly are im kind of hoping we trade sideways for a while theres some stocks that came down that i think are real buys. Im not kidding. Im not talking about cruise lines. Im not talking about airlines im talking about solid companies that have come back to levels that we havent seen in a while. I am all in on vaccine and ae s antibody i think masks, social distancing until we
Chips inhouse. The dollar continues to weaken. 38. 0 two. Lets get a deeper dive into market action. I want to pick it up with the tech strength. We are seeing a number of heavyweights higher. Leadn, facebook helping to the nasdaq into positive territory. Up around 3 . Tech stocks getting another bid here as we see a rally stalling out encyclical areas. To noterally, i want how far and fast we have come. If we look at Global Equity benchmarks, this is a momentum indicator. Over boughticates territory. Remember since the lows back in late march, we have added more than 20 trillion worth of value to the Global Equity markets. I want to talk about other. Sset classes the 10 year treasury is getting a bid today. Down six basis points. We are seeing the curve flattening after the steepening we have seen. That spread between three and 10 year notes. We are paying attention to the fed meeting and what they are going to say about possible yield curve control. Perhaps a weaker dollar. The spot
Tom it will be interesting to talk to fatih. We have the price actions and dynamics and future this is and futures that. What are they going to do about it . Derth, a absolutely complete mystery out there right now over what the next step is. There was opec plus, there was all the meeting of the World Leaders and that. And what i hear on a wednesday is just absolute thundering silence. Francine yeah, absolutely, tom. We were speaking to the former n. E. Chief executive and they were saying they would need to cut Something Like 33 Million Barrels for make a difference. It seems difficult for this group alone to do something. Well discuss that and also have to look at the world e. T. F. s place on this but straight to bloomberg first ord news with viviana hurtado. Viviana the Senate Passing a relief package including money for the tapped out program to aid Small Businesses. Theres also money for coronavirus testing and hospitals swamped by patients. The house could take up the measure as