Away from new highs. Joe, i begin with you. The question is how are we going to get to those new highs . Value is outperforming today is this the start of the longawaited rotation . Well, your initiating a great conversation, scott, because as you have identified the s p 500 is basically sitting less than 1 above its all time high whats critical, though, in getting there if you are not going to have a significant outperformance from what has worked, which is clearly hyper growth, is youre going to have to have the participation from the value names. Lets put in context where value really is. Scott, the russell 2,000 is still sitting 9 below its all time high it achieved in august of 2018. When im thinking about value i also have to think about value and get contribution from small cap value, not just Large Cap Value because there has been such a differentiation in the Small Cap Index this year. Small cap growth is up 22 year to date. Small cap value is down 12 . So, yes, i believe it h
Holds, ten year yield, getting in the area of 9 the road map begins with the trade rally. Future points to new record, china says it has agreed to hold back tariffs plus, takeover offer, getting my latest reporting on xeroxs bear hug of hp. Warren proposes a sitdown with the microsoft founder we will begin with futures fresh hopes of a trade agreement, giving stocks a boost. Chinas commerce says the u. S. Have agree ed to phase out the tariffs imposed during the trade war. They dont actually say a deal has been reached multiple reports from this one on qualcomm. Yeah, i dont trust them. Yesterday, they said the talks were elayed. Honestly, these people were members of the peoples republic it might as well be run by the 8th army can i tell you what might matter they signed a death warrant for someone who pushed fentanyl to us and two life sentences for their colleagues they did a twoyear stay of execution on the leader of this. But this is what President Trump is waiting for far more im
In fact entirely for those three in the green. Look at spain there right now, or italy. They may be up, i believe. Ten year note yield had been hovering around 2. 2. Moved up a little bit yesterday. 2. 24 is where we are right now. On the ten year note yield. You can see crude oil also edging above 50 bucks. Thats important because it should produce some sort of movement in the stocks. It has not. Schlumberger, the Great American the Worldwide Service company is pretty much where it was give or take a few points from the when oil was at 26. That group is the one thats lagged the market if you wanted to ask me whats the key. That group has i was going to do that later. Were just getting started. Well, its a sector key. Im sorry interrupt. But you mentioned are you interrupting . Never. Thank you. Our road map is where well get to right now. I will ask you about that key u. S. Futures pointing to a higher open. Deere surges, on the move. This after the companies came in ahead of the esti
Their highs. We have gotten more comments from jeff good luck. He says these not so much a bear on the s p 500 as he is a bull on volatility. After he made those comments we saw the vix take a leg up. As scarlet said, hanging onto gains. The incremental changes that have led us to all of these records for the s p and the dow have been very small. The daily incremental changes. Top of this the chart. It shows the daily change in the s p 500. Way backto go all the to april to find a 1 gain on a closing basis. We have had this series of records for the dow. Hasdaily grind to get there been a grind indeed with very small changes. Bigger changes are happening on the stock level. Correlations and stocks moving on an individual basis. Media stocks moving after earnings from a number of companies. Cbs doing better than competitors. Quite different from what we heard from big media companies. Shares of up 1 . We will hear from 21st century fox tomorrow. We heard from time. Revenue missed estima
Their highs. We have gotten more comments from jeff good luck. He says these not so much a bear on the s p 500 as he is a bull on volatility. After he made those comments we saw the vix take a leg up. As scarlet said, hanging onto gains. The incremental changes that have led us to all of these records for the s p and the dow have been very small. The daily incremental changes. Top of this the chart. It shows the daily change in the s p 500. Way backto go all the to april to find a 1 gain on a closing basis. We have had this series of records for the dow. Hasdaily grind to get there been a grind indeed with very small changes. Bigger changes are happening on the stock level. Correlations and stocks moving on an individual basis. Media stocks moving after earnings from a number of companies. Cbs doing better than competitors. Quite different from what we heard from big media companies. Shares of up 1 . We will hear from 21st century fox tomorrow. We heard from time. Revenue missed estima