Is another one of those mornings where it is hard for me to even construct a narrative. Disney is down, so is netflix. That can change, but there is a lot that is up, especially among the large cap tech names that are higher yeah, on the back of that jobs report, the number is quite good, but 40 of the gains came from the leisure and hospitality sectors. Its a big day for ipos. L lemonade is going public today the indication looks like that price could double on the opening. It is priced at 29 a share it looks to be between 50 and 52. That could be another good shot in the arm for the ipo market. Refreshing lemonade ipo, nice in a is where we will begin talking about the markets this morning. Lets bring in David Rosenberg good morning. Good morning. David, you have called this the no reason no rhyme market. But after this action that were seeing this morning, does today at least make sense . Look, i think the stock market is going to price in a lot of things including a vshaped recover
Similar percentage moves for the s p 500 and the nasdaq composite as well. The question becomes after the best week for the dow since 1938 last week, the best week for the s p 500 and nasdaq composite, are we starting to see a market bottom play out . Lets start here with our invest Investment Committee joe, what are we seeing here is this a market bottom we can see developing out in the next couple of days and weeks no one knows the answer to whether this is an absolute market bottom. What is going on is theres a significant trading bounce in the market and a lot of it is predicated on the end of month rebalancing we know will occur into equities. Today, very surprising there seems to be a high degree of optimism relative to the expectation were going to get a significant amount of negative news coming this week in the form of ism in the form of unemployment figures and in the form of continued negativity surrounding riding cases of coronavirus here in new york city which is the epice
Successful launch, the apple his calls for 2020. Google undergoing oracle card issued by Goldman Sachs hit some snags in 2019. Undergoing a big transformation. How do you see facebook entering what is a pretty crowded cloud first, our top story. Business . Tech continues to be the john it is crowded at the outperform or in 2019 with the application layer. Nasdaq on track for its best you have salesforce and all of those Different Software service year since 2013. 35 , justndex is up companies. With what amazon does, the aws 3 shy of 20s banner year. Service, there were really only ofis largely due to the three competitors, at least in north america. Microsoft as newer microsoft 2013s banner year. Aws, and google cloud. It is rgely due to apple and above the chipmakers. I am showing on my terminal i think the thing that chart about divergence, winners distinguishes these guys is obviously they have done a lot and losers. Of innovative stuff, but it is the clear winners, scale. Facebook,
Occasional buy opportunity it does exist. But the window closes so fast, that if you blink, you will miss it still, if youre ready to pass, you can pick up some high quality stocks at discounted prices the dow briefly went into the red rebounding to close up 143 points you had it in your grasp when the market opened. Yet, markets dont go up in a straight line. You still get dips but it is frustrating. No dips whatsoever the stock of netflix as analyst after analyst raised projection after projection denying everybody a chance to get in except for the bold people who dipped and bought many other visible opportunities where the window opens and you have to jump and jump quickly provided you did the homework. The brief government shutdown. Will benefits be paid. Doesnt a postponement mean we are going to be worrying a lot more over the next few weeks now, nobody would think it is good for business when the government turns the lights off. So the market opens slower today. Why . Investors
In starts right now. Good evening from new york. Im chris hayes. The president spent the last few years stoking fear and panic from everything ebola to antifa. The reason he lied to americans repeatedly about the severity of the coronavirus was because he didnt want to panic people. You wont downplay it again. No. I dont want to jump up and down and start screaming death, death because thats not what its about. Jumping up and down screaming death, death is basically the trump 2020 campaign slogan. Look, were talking about the coronavirus. This wasnt some asteroid heading towards earth that we couldnt stop and whats the use of all getting worked up in their last moments . People understanding the risk was key to doing things we needed to do. Other countries did those things, but we didnt. And now close to 200,000 americans are dead and donald trump and his defenders are spinning trying to sell some other version of what we all saw and herd with our own eyes, what we all experienced for