Growth is slowing down due to the outbreak across the sunbelt. We have been at one point up 6 . Were now up 0. 7 . At one point we got to the highest level since the pandemic began. Ahead on todays show, stocks seeing a big rally to start the week Jeff Rosenberg of black rock says the bond stock model does not work in this environment he will join us to discuss where hes putting his money to work right now. Plus, entertaining in the age of coronavirus. Well speak with pitbull about how artists are navigating a World Without live events, and his efforts to help latino businesses lets focus in on the big stories with 59 minutes left of trade. Bob pisani tracking the action phil lebeau is watching the surging stock prices of electric vehicle makers joining us with his thoughts on the race for a vaccine and the biotech name is michael ye from jeffires start us off with the market with the dow up 400. We have had a remarkable run in the last three weeks or so, sara, with mega caps, semicond
Usmca, china, theres a lot in the mix today. There sure is as we start squawk alley. Glad to join you carl and deirdra bow is a also with us this morning major indexes still higher, though the dows best performer over the last quarter was apple so, we can continue to watch that stock as well its been interesting, deirdra, to see this move in apple over time thats where were going to start. The dows best performer again over the last quarter. In the midst of this platform shift right now, we have to see whether they can continue this momentum as we head into a Holiday Season where the headlines are questionable whether theyll be able to churn out enough of the 5g iphone based on production delays that theyve encountered in the midst of the coronavirus absolutely. And its not just apple, right, guys tech had a big quarter at large. Youve seen them lead the way once again, although alphabet little underperforming so youre starting to see more breadth in this market one of the major questi
Trying to bounce back after all of the major indices in the green. The dow struggling most of all just popped into positive territory moments ago. The s p trying to stay above morgan thats right i will note that were on pace for gains for the week including the nasdaq that is currently poised for a 4. 8 gain they pointed out this morning that the Broader Market it means this critical juncture right now and that given the big swings in both directions that we have seen in the s p and the Broader Market in the past two weeks leaves us right at the same level that we were at two weeks ago. There istechnical levels to keep an eye on early june highs, whether or not we break above that or on the flip side, the 200 day moving average, but i think the bottom line is that there continues to be a lot of uncertainty and a lot of headlines driving Investor Sentiment right now in terms of the marks, the tech piece of the markets, the nasdaq continuing a fourday win streak right now. Joining us is
Here joining us is chief Investment Officer of the Minnesota State board of investment. Good morning. Good morning, john. How are you . Im doing pretty well i hope you are, too. So, a lot of people trying to figure out what to do with this market your philosophy is to buy the market and not individual equities but this market has been kind of funky i wonder does big techs increasing waiting say in s p 500 concern you . How do you get as diversified as you want to be no. As i said, i mentioned before, we dont look at sector by sector weve been longterm investors and for the most part we buy the market you know, domestically we own the russell 3,000. We do have active managers, but the vast majority of our portfolio is passively managed our equity portfolio is passively managed, same on the International Side so we probably have most stocks that are available to us. Thats done pretty well for you. I wonder with this disconnect between the economy and the market that were seeing does that
Defer paying their income tax and we expanded tax refunds, very substantially. Thanks to our efforts and incredible resilience much our nations Small Businesses, and i really think we can add the foundation that we built. We built the greatest economy ever built. And that foundation was so strong, instead of coming weekly back, or going in the other direction, because this is coming back and we havent totally succeeded yet. We will soon, but we havent killed all of the virus yet. And yet you look at these numbers. That is based on a very Strong Foundation we built, a Foundation Like no other, a foundation had we not been attacked by this virus, this horrible virus we were doing things and had things planned that nobody else had ever even thought of. Paying off debt, building numbers, the likes of which nobody has seen. And yet next year well be in a position where i believe in a certain respect i think well even be stronger than we would have been because of what were doing but only th