Moo its biden versus trump trump stock, trump stock. Both of which are going in surprising directions. If you you thought the election is over, the president is trying to do an end run around the results and fighting tooth to nail today the dow lost 222 point [ screaming the s p 500 declined points at 8 . Nasdaq dipped 2. 2 hey. I know it didnt feel like it was so bad but if you were in the nasdaq except for a couple of names, wow. They crushed it. Why dont we start there with next weeks game olympian . On monday morning we are coming in and, sadly, im betting we pass the 200,000 mark. Thats right 200 thousa,000 thousand cases an the virus is hurting business. If not monday, tuesday, wednesday, a question of when, not if i know there is a sense that we have had a big vshaped recovery which is terrific. But our inability to stop the spread is putting a crimp on business orders and retail sales. Just yesterday, work day, reported a solid quarter we have the coceos on the show but they me
Dow futures are down by 40 s p futures down by 5. 5. If you want to take a look at the treasury market, the tenyear right now at this point, of course wti, i should point out, is down by 2 still trading above 24. The tenyear yielding 0. 7 0. 697 andrew well get an update on the pandemic the number of cases worldwide, crossing 4 million with 1. 3 million, thats in the United States the biggest hot spots in america are new york, new jersey, massachusetts and illinois all with more than 75,000 cases. Now, new yorks Governor Cuomo saying yesterday the number of new cases was back to the level from two months ago. Lots of good news there, when he first issued the shutdown order. Overnight, india, reported 4,200 new cases in the last 24 hours the largest single day increase in the country they are entering the final week of a nationwide lockdown a few cluster formed around nightclubs in south korea. They eased restrictions last week but on saturday, shut down all clubs, bars and discos in se
Josh lipton standing by and gene munsters gearing up for facebooks call and we kick things off for Julia Boorstin for facebooks big quarter quite a move quite a move, Melissa Facebook shares up almost 10 on better than expected revenue and user growth. Cfo dave waner reassuring investors saying that while the outlook is uncertain, advertising is stabilizing so far in april were not immune to this from this crisis. We did see a steep decline in advertising revenue starting at about the first week of march, and that sort of continued weve seen some more recent stabilization as part of the Earnings Release we did include information on the advertising performance in q2 in april and thats about flat year over year. Facebook lowering its expense guidance for the year for 56 billion, as the company spends less on travel events and marketing as well as slower head count growth while the user growth and engagement did surpass expectations with 2. 36 billion people using one of its apps every s
Full force remember this name game stop, its shares are surging after famed meme stockholder Roaring Kitty posted for the first time in roughly three years. Busy day, i guess, huh lets begin thats not fair, sorry. Lets begin with the market setup. The dow is ride ang eightday win streak investors crowd into soft landing trade ahead of crucial inflation data. Okay. That makes it sound like if the datas bad, theyll crowd out. Ive been watching the stocks are going up. Its not the ones that are on profit going up. Theyre going down whats going up are the Profitable Companies we keep seeing that. David, i do think if gamestop is the leader today, that would signify perhaps the expectation lative peak, and i didnt know we were in a speculative hike. Im not sure we should draw too many conclusions with what may happen at gamestop, but its fun to look at an old name we used to talk about years back. When you go to twinner, you have the pin piece you know the old piece about 100 sure, and if i
Bezos and tim cook attending. Caroline a global ai coalition on his visit to the middle east and the next stop may be we will see him over on capitol hill. We will discuss that and more. We will start on these markets up. 25 . The nasdaq managing to pull itself up. This is once again really tackling inflationary pressures whether it is the ppi number or the cpi print showing inflation pressures dialing up. We see managing the nasdaq to outperform as markets pullback. I am looking at the two year yield where we are outperforming on the front end of the curve all the back end is pushing higher. The big move was yesterday and what is happening in the euro but what is happening in the Federal Reserve and global world banks and Central Banks and what the ecb said. Staying put in terms of Interest Rates but signaling that inflation pressures are dialing down and we could see cuts coming off by. 3 . We have a look at what else is performing. Crypto down. 2 and we just saw that 70,000 level. E