Into a frenzy. We want to show confidence. We want to show strength. We want to show strength as a nation and that is what i have done. And we have done very well. Mark the president also told woodward the virus is more deadly than the flu. In february and march, mr. Trump said publicly that the u. S. Had the virus under control. He repeatedly compared it to the flu and said it could they do way. Meantime, democratic president ial nominee joe biden says the president is responsible for the deaths of tens of thousands of americans from coronavirus. Campaigning in michigan, mr. Biden said the president failed to do his job on purpose. It is another sign of life returning to normal in new york city, Governor Andrew Cuomo says restaurants in manhattan can reopen for Indoor Dining september 30, capacity limited to 25 . Governor cuomo says the city will dispatch hundreds of inspectors to make sure guidelines are followed. He is calling on citizens to speak up about violations. Hurricane mari
Tensions. You really have more of the same. Tech outperforms. One jobless claims around million. Rates grinding ever lower. Still fears surrounding the coronavirus. It feels as though this market just has a complete disregard for warnings coming from the fed, warnings from u. S. China relations . And rates refuse to go up tech outperforms. You can have a situation where value outperforms. We saw that briefly in june. Or you could have a market that actually goes down. That does not seem to have. Instead, we go back into this one very specific group of mediocre growth. Caroline at the beginning of trade, we were a bit worried. We saw the reading on the philly fed. The ceos being asked the key question of caution. Ofare looking at a blue line what is current outlook. In six months, may be a little bit of an improvement. It looked pretty dire. It was a mess. Bloomberge had the Consumer Comfort Index data came out. One of the folks that works behind the scenes here, dan curtis, pointed thi
Calling for the fact that these stockmarkets had gone too far, too fast. The darlings of 2020 finally took the hit. Apple, amazon. Tesla. Gain ondia, the biggest the s p this year. Companies, along with energy, lead us into that fall. Were you the naysayer . Joe ive been predicting this since april 1. My predictions finally vindicated. But it was just so intense. We talked about this yesterday. You had Huge Companies jumping every day. This is like the reversal that we got. Energy had a bad week. Infotech down on the week. The only gainers, materials and utilities. Financials also outperforming. That really is the story. Really hot sectors finally got sold. You have such incredible moves. It is not surprising even if that is a disappointing cliche. Romaine it looks like some of this could have been related to how short a lot of institutional managers and hedge funds and investors were. You are talking about 23 straight weeks where hedge funds had been short s p futures. The latest data
Return back to this market. I guess if you are an investor going long, you have to be happy with what you have seen over the past few days. Caroline down in volume. Very much the build up toward labor day. Managed to rise 12 points. Overall, it seems to be all focused on neverending buying. Out, a we should Point Company here, big commerce holding, this just went public at the start of this month. It was up 37 today. This is basically going to be the software behind this ecommerce storefront. Big commerce is the beneficiary of this announcement. Taylor about 88 billion in market cap, showing a pretty big number on the top in bottom line. Estimates were about 1. 55 billion. Decent beat on the bottom line on adjusted aces. Earningspershare, 1. 81 versus 1. 09. I continue to shift through some of the earnings. In the meantime, lets get back angelamwanza mwanza, from ubs. I am curious, as you recap earnings season, were expectations too low . Or you present where you pleasantly surprised a
With the smallcap stocks. Joe em stocks up over 1 . Not a dramatic outperformance but they have been over performing for quite a while. Scarlet lets dive deeper into the action with our market reporters. Abigail, what are you watching . Abigail not participating in the risk on rally and record highs, bitcoin. 15 day chart, down 14 out of the last 15 days. However, today it appears as though bitcoin is maybe trying to stage a rally. Below 7000 as the technical side suggested for quite some time. Trying to hang on by a thread. This is a multiweek decline. In the context of a weekly chart. Over the past few years, a beautiful uptrend for the most part. ,here is the bitcoin bubble 20,000, then going below about 4000. Right now, hitting down over the past couple of years, right around 6400. If these levels can hold, maybe we see a brief bounce back higher. These levels suggest maybe we go down to that average below 5000. The longterm message is bullish for bitcoin. Nearterm chop. Taylor i w