Claims rising back above 1 million. The fed voicing concern of its own about pace and state of the recovery josh, brown, the question today is how long, how long can stocks continue to outrun the economy well, i would argue that stocks have been out juning the economy since 2009 we clearly had an economic recovery that had been accelerated in recent years the longer it went on, but it hasnt come close to what the top 10 of american households by wealth have enjoyed by virtue of being in stocks and real estate as investment how long can that go on for . Its been going on for more than a decade if anything, you can make the argument that the pandemic has done nothing other than accelerate that trend. Its not a great thing to be hold the stocks that continue to work, anything tech, almost anything tech, anything work from home. Take a look at zoom. Were not even talking about it anymore. Its almost like its a given. Then you have this contingent of companies that have adapted themselves t
They say that they are going to begin a phase three trial later this month, but until they have that data, and they havent published any of the early data either, the long term effects and the safety of the vaccine remain unclear ive been talking with experts this morning from the childrens hones hospital of philadelphia and he says that there is no way that they could have any evidence that the vaccine works at this point. And it is based on technology that is not dissimilar from what other Vaccine Developers are working on, essentially using two other harmless viruses to ferry genetic material from the coronavirus to produce a immune response against it. J j is pursuing one vector using that same approach so not a lot known about this and experts are concerned that russia is approving this before they know if the vaccine can really protect people and if there are any safety concerns that would turn up when the vaccine is administered to more people they say in the United States and o
And irelands Pascal Donahoe is chosen at the next eurogroup president. He says the focus is to bring back jobs. I will play my part in working with all members of the eu eurogroup to make sure this group makes the contributions. The challenges are great but we will prevail and will overcome we kick off the show this morning with a major oil report crossing the latest is that the organization has bumped up its 2020 Oil Demand Forecast today but it has warned that the spread of covid19 has posed a risk to the outlook. Steves been pouring through this document and has all the analysis ill be honest, not every page i think its 81 pages i have from our friends at the iea. Its pretty much what the doctor told us oh, gosh, we interviewed him on stn a few weeks ago. The situation at the moment is its halftime in the year, of course theyre hoping for better out of the second half of the year. The commentary is casting a shadow and quite interesting. Saying, look we think things are going to reb
Somebody to sell if you go back to our march survey, what we saw was that the level of bullishness on the stock market was one of the highest readings we had in the history of our survey. That told us things were scary in terms of fundamentalings and news flow. They sort of knew inherently this was that point in time was the right time to buy the market they stepped in to help contribute to the rally. Now what we see its not that everybody is bearish the bearishness is starting to pick up where where we were last quarter and the bulls have fallen down sharply. Now, what is extremely in our survey is the percent who say valuations are expensive and that hit a new survey high whats that telling me as the tape weakens here, the news flow deteriorat deteriorates im talking to Institutional Investors that are not inclined to support this market the way they were in march i take it as a bearish read. Less about the level and shift in sentiment were starting to see and the reasons for the shi
Add that to concerns over the virus caseload and youve got this. The dow industrials, down 700 yesterday, down maybe another 200 this morning. The s p down 80 yesterday, down another 20 today. The nasdaq yesterday, down 200 points. Today, down about 13 points. A sea of red ink over there. A big loss especially for the dow. 1. 48 million new jobless claims this past week. Now, thats not a good number and it pushed stock prices just a little lower when that news was released at 8 30 eastern. Now, today, President Trump heads to wisconsin. Good timing. The democrat governor there has just called out the National Guard. A protester wielding a baseball bat and bullhorn harangued a restaurant crowd. He was arrested. Molotov cocktails were thrown, the Police Needed help. Governor evers sees the light and calls in the National Guard. Same thing in washington, d. C. Hundreds of National Guard troops now marshaling. They will protect the capitals monuments. Thursday, june 25, 2020. Varney compan