Why these special Purpose Acquisition Companies are so hot and what the phenomenon says about froth in the market. And golds record rally. Is the yellow metal poised finish even more gains . On the barrons roundtable, my colleagues. So, jack, this week was interesting. Four very powerful dudes get hauled up in front of congress, theyre asked some dumb questions, some tough questions, the market shrugs, the next day they come out with earning, and three of the four stocks soared. Yeah, actually rose during and after the testimony and end then again after results. The stock market this week, if you look at the s p 500, it was up close to 2 . Now, thats a wonderful result, but its particularly great when you consider the backdrop. What did we learn this week . Gross domestic product, the economy shrank 9. 5 from the quarter before. If you feel compelled to annualize that figure, yes jack no, please dont 33 , right . Either way, its the housiest number in 70 years of lousiest number in 70
Why these special Purpose Acquisition Companies are so hot and what the phenomenon says about froth in the market. And golds record rally. Is the yellow metal poised finish even more gains . On the barrons roundtable, my colleagues. So, jack, this week was interesting. Four very powerful dudes get hauled up in front of congress, theyre asked some dumb questions, some tough questions, the market shrugs, the next day they come out with earning, and three of the four stocks soared. Yeah, actually rose during and after the testimony and end then again after results. The stock market this week, if you look at the s p 500, it was up close to 2 . Now, thats a wonderful result, but its particularly great when you consider the backdrop. What did we learn this week . Gross domestic product, the economy shrank 9. 5 from the quarter before. If you feel compelled to annualize that figure, yes jack no, please dont 33 , right . Either way, its the housiest number in 70 years of lousiest number in 70
Without some sellers coming out of the woodwork which is why the dow shed now tepid nasdaq lost 3. 4 twee have to use this moment to regroup and figure out the markets. I think todays action was pure profit taking. But the sellers had a lot of excuses. I any its worth going over them in detail. Its forearmed rail recovery thesis really moderating. It might be right. Its certainly a possibility if you dont get stimulus. Second, the reopening has clearly been stalled by the outbreaks. Its trying to get the mortality rate substantially lower than the original outbreak in new york some of that is because weve gotten better treating covid as we learn more about it, it is novel if you were on a vent lator in new york, you only had a 20 chance of surviving. Youre now at 70 . You have a host of treatments you didnt have before steroids, remdesivir, blood plasma i dont want to doubt it even if more people survive, complications are horrifying nobody wants to spend weeks in the hospital nobody w
Been happening out there. We received word that officials are planning to close down a city jail in the middle of all of this. Well talk about the timing. Back here in the new york area, there are some in business who are now saying that new york city is among the worst places in this environment to do business. Well talk about why. Also talk about, when and how that might change. It is all coming up coast to coast on a wednesday. Edward lawrence starts us off on the aforementioned drug price wars and vaccine developments. Joining us live from washington. Hey, edward . Reporter connell, pfizer says they will have 100 million doses of Coronavirus Vaccine by the end of the year. Now the u. S. Government has a deal to buy all of those doses from pfizer and biontech which they partnered with for that. Federal government will pay 1. 95 billion for all 100 million doses by december. We have five vaccine candidates that prioritize the u. S. People where were going to manufacture vaccine and w
I know that chips are not, of course, a specific Coverage Area this is a big deal at a very confusing time for many in the market what do you take awa from a move like this and what sorts of changes or adjustments do you see . It is very, very interesting. Were in the middle of a pandemic, but it dung change the fact that a lott of companies are doing deals and acquisitions there is still strength and still a lot of people making money in this market there is an area that we need to participate in, talk to our clients about actively and want to move some and shift some cash over to different areas to make sure that we also participate. Often when things happen like the nasdaq getting into New Territory like this, this is a stock pickers market we have to look at individual opportunities. Do you feel that way and if so what are you looking at . Sorry, that is for scully for us it is always a stock pickers market, frankly. With that said if you look at the internet and Digital Media grou