Postpandemic academy dominated by americas big tech companies. This friday morning, stocks are going up somewhere, can you believe that, we dont know how were going to close the session but the opening bell the dow will be up another triple digit, over 100 points, s p coming up a series of records of another nine this morning and the nasdaq made 39 records and moving higher again as of right now. That is the market, that is financial history, cue the fireworks, spectacular way to close out the republican convention, they lit up the sky over the white house after President Trump accepted the nomination for second term. It was a long speech, 70 minutes, the president made his pitch, vote for me and ill keep the streets safe and restore prosperity. Joe biden would ruin the country. You will hear it all, and then there is this, senator rand paul and his wife leaving the white house after the speech into an angry mob of demonstrators. That was intimidation that bordered the very close to re
Bloomberg television, starting at 9 00 p. M. Eastern. Along the gulf of mexico, the texaslouisiana border is reeling after hurricane laura unleashed a wide swath of destruction, with winds reaching 150 miles an hour after coming ashore. It is now churning over louisiana. It could lead to more than 15 billion in insured losses. One of the top talkers on wall street, meantime, news of wall street joining microsoft to make a joint bid for the social media sensation tiktok. Now aligned with oracle. For more, i want to get to scarlet fu in new york. A lot tied to these remarks from the fed. There was a lot of gyration in jay powells remarks. In the case of equities, the fed moved it higher. The dollar moving higher. Bonds falling. In no rush bank is to raise interest rates. It will let the job market run hotter and inflation run higher, potentially overshooting the 2 target, before taking any kind of action. In the end, we saw financials get a boost. They benefit from a higher yield and a s
Dollar stores seem to be weathering the storm. On the barrons roundtable, ben, carlton and jack. Thanks for joining us, guys. Good to see jack howe back in the group. So, ben, every single week i say the same thing to you which is how much longer can tech stocks keep zooming ahead of the market. Finally this week i dont have to say that, they actually lagged this past week. They lagged and they lagged badly, down around a full percent. And the s p was up more than a percent. The gap between the two was actually the widest in any one week since 2016. Most of those, that difference calm on monday when the nasdaq actually rallied to what was looked like a new high only to pull back and finish down more than 2 . Those kind of reversals dont happen very often, and when they do, its often a signal that the nasdaq is going to underperform over the next three months or so. Jack so youve been talking for a while about cyclical rotation that you think thats going to thinks going to come one of t
Dollar stores seem to be weathering the storm. On the barrons roundtable, ben, carlton and jack. Thanks for joining us, guys. Good to see jack howe back in the group. So, ben, every single week i say the same thing to you which is how much longer can tech stocks keep zooming ahead of the market. Finally this week i dont have to say that, they actually lagged this past week. They lagged and they lagged badly, down around a full percent. And the s p was up more than a percent. The gap between the two was actually the widest in any one week since 2016. Most of those, that difference calm on monday when the nasdaq actually rallied to what was looked like a new high only to pull back and finish down more than 2 . Those kind of reversals dont happen very often, and when they do, its often a signal that the nasdaq is going to underperform over the next three months or so. Jack so youve been talking for a while about cyclical rotation that you think thats going to thinks going to come one of t
Dollar stores seem to be weathering the storm. On the barrons roundtable, ben, carlton and jack. Thanks for joining us, guys. Good to see jack howe back in the group. So, ben, every single week i say the same thing to you which is how much longer can tech stocks keep zooming ahead of the market. Finally this week i dont have to say that, they actually lagged this past week. They lagged and they lagged badly, down around a full percent. And the s p was up more than a percent. The gap between the two was actually the widest in any one week since 2016. Most of those, that difference calm on monday when the nasdaq actually rallied to what was looked like a new high only to pull back and finish down more than 2 . Those kind of reversals dont happen very often, and when they do, its often a signal that the nasdaq is going to underperform over the next three months or so. Jack so youve been talking for a while about cyclical rotation that you think thats going to thinks going to come one of t