Outperformer, up 0. 6 of 1 small caps pulling back. Our Investment Committee today, joe terranova, stephanie link, jon najarian joe, lets get your top line read of the markets right here we had an 8 pullback into mondays open. Weve rebounded a little more than half of that over three days, so was that it for the nearterm pullback or are we still in a choppy phase . Well, we still have more fight to encloses the gap from last wednesday into thursdays decline for the s p, mike. That gap sits at 3153 to 3181. The composition of todays tape shows weakness in what had been kind of those dashfortrash leaders. If i look at the dow, i see exxon, boeing and chevron. They are underperforming today within the s p you have the cruise ships underperforming and then for the nasdaq, its the airlines and marriott. So the strength has to come from the old place, your Mega Cap Technology oriented names. Theyre going to have to carry the momentum to close the gap further. On the other side of chairman po
Trillion another half trillion since then is nothing to news at. Especially important week and i know we will get into this later, it is so whether or not they have been trying to build out a effort with iphone sales slowing down not due for the same kind of growth they saw kind of over the past decade wwdc important because of a dust up with a major developer they have been having in the past week not major because of the size of the company. We might be reaching a detaunt in that. And i know youre bringing us a big interview with brian chesky this hour. Thats right, im really excited to be part of this additional west coast coverage and to that point i sat down with brian chesky over the weekend and we talked about the travel rebound, and what the business likes like in this post kovid world take a listen. If there is a shut down or multiple shut downs, if communities are shut down, we will be okay we cut a he looks like dollars in marketing brian was very cautious about this it is a
The Leadership Group right now so joe terranova, i go to you on that note, the melt up in tech seems to be picking up we asked the question whether the growth tech stocks wrestled the market back from value and then thats where the money is going to be made Going Forward clearly the mega cap growth names have wrestled the market back theres an added dimension to it, scott, being popularized in a lot of Research Notes im reading. Pippa stevens of cnbc has a great report element of esg investing and something i didnt think about in prior weeks but if you take all the esg funds, the largest esg etf, its popularized by all the names that youre talking about. The apples, the amazons, the microsofts, so theres an added element to these hyper growth names that are not just about the quality and the cash Balance Sheets and the very visible return to Earnings Growth but an importance as it relates to social and governance and youre seeing a significant amount of fund flows into esg and thats ev
Research finds very different experiences of black and white americans when it comes to the economy and the shutdown and the coronavirus. And these different attitudes come from very, very different experiences. Looking at views on the current state of the economy, you can see that 28 nationally see the economy as excellent or good right now. Thats the same number as you have for white americans black americans 5 view the economy right now as excellent or good. Thats reflected in some of the Economic Data weve seen that shows that africanamericans have been hit harder by the shutdown similar attitudes by differences about the outlook. 38 of americans nationwide are confident or somewhat confident in the future. Black americans, 16 are confident or somewhat confident in the future. Perhaps reflecting the differing economic experiences right now a lot of this comes from different experiences with the coronavirus itself 92 of africanamericans are concerned or very concerned about the coro
1 2 3 boeing is having a big day today. The reopening trade is in full effect Piper Sandler is up today. They say the pain trade is up. They reiterate their 3,600point yearend target for the s p, which sounded crazy when they first put that out, but now i wonder if we have to start looking at that as a coming formali formality, as crazy as that sounds look, ive been adding capital to the market and if you asked me a month ago what i would be doing, i would tell you, i would be down 50 in my exposure not for performance, but for taking money off the table this has sort of hit the frenzied period. The reason why its doing that is because its a valuation holiday, its a fundamental holiday. And when you see things that are happening in the real world, the social injustice, the division in the u. S. , the division in terms of International Relations with merckel not wanting to come to g7, with the relationships of china, you would say, you know what, the markets getting through that so i fe