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
Employees who have been out of work now for months. The Second Quarter Gross Domestic Product plummeted 32. 9 between april and june. Thats almost a full third and its the sharpest decline we have seen in u. S. History. The drop in gdp is nearly 4 times worse than it was at the peak of the financial crisis in the Fourth Quarter of 2008 the previous record was 10 in the First Quarter of 1958. Turning over to the stock market and see how stocks are reacting to this dire news. The dow jones is down by almost 200 points, just a little bit more than that right now. S p is suffering a loss of not quite one half of 1 . The nasdaq is the only right spot if you count the addition of 52 points. Nasdaq is up by one half of 1 . You can see stocks mostly regained their footing after a very steep drop at the opening bell and after we got that labor news. Californias jobless claims were down last week despite a nationwide increase. Our state reported 249,000 workers filed firsttime claims during the
Spike happening in prepare for real summer as well see a lot of 90s on the board marty. All right dave thanks a lot. Well get right to our top story this morning Bay Area Health officials are encouraging everyone to stay home this 4th of july weekend. Now this comes as the state and the bay area continue to see an increase. In coronavirus cases kron 4 Sarah Stinson standing by live in Contra Costa County this morning. She has more on this sarah good morning. Marty i wish it was a good morning, were heading into a 4th of july weekend it falls on a saturday could be better but were also at a point with the coronavirus were seeing a resurgence which means we have to take it as seriously as we did before we flatten the curve and now Health Officials are telling everyone please stay home this 4th of july something we never thought wed here before but why take a look at the numbers, the numbers speak for themselves and that is what our Bay Area Health officers go off of you can see the perce
Throughout the show. Take a look at tesla up 6 premarket, its going to bust through another alltime high at the open, look at that up to 1277, also a story about red sucking shorts, thats what you call a tease, we will explain, also President Trump tweeting about the markets moments ago saying if you want your 401k and stocks which are getting close to an alltime high, nasdaq already there to disappear, vote for the radical left, donothing democrats and corrupt joe biden, massive tax hikes will make you very poor fast. That is the president tweeting this morning. Speaking of the election, we are for mental weight and joe biden says hes going to transform nation. What does he mean by that, youll guess pretty good as good as ours, he gave no details. Also President Trump will be holding a rally once again this time in New Hampshire this coming saturday and this time it is outdoors, the Trump Campaign is coming up on that shortly and as always a big three hours ahead im Ashley Webster Int
Created 4. 8 million jobs, and that is much stronger than expected almost every single sector improved, bringing the Unemployment Rate down to 11. 1 . Isnt that the kind of news that makes people want to buy pretty much anything . Then the rally did taper off near the end of the day. The dow only dwayne e gained 92. Those are big numbers, but we got spoiled, didnt we what do these numbers mean what reflects the state of the labor market in the middle of june how does it impact your money . First, you need to understand that were still nowhere near where we are before the pandemic struck we still have a lot of ground to make up. The economy was smoking hot. I, however, think its a legitimate comeback. Its a legitimate comeback and a comeback gives you more latitude to buy stocks that depend on a healthy economy, not just an unhealthy one. But these are before the latest outbreak thats forcing many stocks to go back into lockdown mode, so its a glimpse into a post covid future that we ha