Information from dan is taking these new positions in the Second Quarter according to his quarterly letter in disney, amazon, alibaba. Well focus on disney first and foremost josh, i just got off phone with dan who told me the following about why they initiated this position he said theres no close second to disney when it comes to an entertainment company. He says they have slate of tent poll releases. We know the titles they have he said some of the commentary,s the narrative of how disney plus is being thought of in the context with netflix its not a winner take all environment. They have to take market he thinks is easily split between those two and some other players. He also, which was interesting as well likened disney to microsoft 7 or eight yea8 years. You have a time old business and youre able in some respects to reinvent yourself. Much as microsoft has done we know how well that stock has done lately. He seems a similar scenario for shares of disney josh, let me get your ta
Record close and we know why. I have to tell you this was just a parade of both American Ingenuity and strength there was a time when i was listening to brian i shouldnt just limit it to amazon every Conference Call last night with the exception of google was incredible the power of these companies is extraordinary and i dont think that we can actually brian ol staff ski when he talks he is the cfo of amazon, when he talks about the idea that basically we didnt know we were going to make billions of dollars more than we did. Not tens of millions, not hundreds of millions, but builds what a juggernaut. Most impressive of last night. David, i have a lot of good things to say about the others and good things to say about google, but amazon thankly is a company that basically has no idea how much money it can make. Ive never seen a company like this theres never been a company like this. Well, and the market agrees with you and investors have for a long time, jim, but they have delivered o
Or the rest of the world. With Earnings Seasons coming up and a few key Economic Data points later this month, how confident are you in the economic recovery . Great setink we had a of economic figures really since midmay through june when the reopening story was gaining the most momentum. Reports,o great jobs pmi, sales, housing data, all to the upside. Economic price indices we follow are in the u. S. Now at alltime highs. That being said, i think we may have a time of slowing in perhaps in the weeks ahead as Economic Data plays catchup with what we are seeing in the country with a slower reopening broadly. So the job state of this past month captured the time from midmay to midjune. The next jobs report will capture midjune to mid july, when we started seeing thoses likes and those spikes and a pause in the reopening. As you mentioned, we also had earnings starting in earnest next week july 15. From an earnings perspective for two to we are seeing downward for q2, we are seeing a do
Million, representing more than a quarter of all cases globally. I want to bring in our Bloomberg Markets reporter, who has been on top of all of this action. What did you notice today, with more record highs it is the usual suspects that continue to lead the way. A story of tech outperformance again. Boarde higher across the when it comes to major averages, but the outperformance came from the nasdaq. A record high. It was up by more than 1. 5 . I want to highlight that even though tech stocks and stocks wasdly were higher, so gold. It has been the highest since 2011. 1800 an ounce. That creates safer assets. The tone is not all risk on. The tech has been a safety trade. They are benefiting from a world staying at home. Todays session was the largest of the large that were leading the way. Apple, amazon, facebook, all contributing the most to todays rally and all four of them closing at record highs today. From a valuation perspective, how overvalued does the tech market look . We are
Think they were already in a tough place, particularly u. S. Banks. It is likely, as this progresses, the chinese will put more pressure on them, the u. S. Will have to put more pressure on them. They are going to have to take sides. Yesterday a guest walked the overlyot sounding enthusiastic about the decisions he had to make. It is really going to be tough. The chinese will pile pressure on. Tom maybe we will see that pressure today. We have our people in hong kong watching the story. Also in beijing, karen leigh scheduled to be with us throughout the money. In new york city, here is ritika gupta. Ritika President Trump is due to punish china because of the national the sweeping national law. He finds legislation would chinese that sanction chinese officials responsible for cracking down on political dissent in the city. Beijing told the u. S. To quit interfering in chinese affairs. Heres a very hong kong brain train are increasing, china moving to tax its citizens global income. The