Underperformance of Large Cap Technology and outperformance of value. Guy, what did you make of the action today so i know you remember everything, so you may recall yesterdays show every once in a while something sticks with you, like an onion or Something Like that, yesterday there was something said on the show that resonated with me. We were talking about the vix. He correctly said just because you have an elevated vix, its not any deby definition a negate thing for the market today illustrated that exactly im shocked by todays performance. The reversals we saw yesterday should have followed through today. Maybe that happens tomorrow, i dont know what i make of it is the resilience of this market continues to be unprecedented, in my opinion. Still label me a skeptic lets pause this conversation we have some breaking news from moderna. The stock is up in the after hours session. Meg . This is the phase one study of modernas covid19 vaccine program. The full results being published i
Before the house antitrust subcommittee lets get straight to kayla with the details. Reporter four hours in and a third round of questioning underway as republicans challenge apple, amazon, facebook and alphabet on political censorship and democrats take aim at the size and power the companies have amassed. Here is David Cicilini our founders would not bow before a king, nor should we bow before the emperors of the online economy reporter these four horsemen of the Technology Industry responded in kind saying, in fact, they each face healthy competition in their respective fields competition drives us to innovate and leads to better products, more choices and more choices for everyone. Customers have a lot of choices and there are products that face fierce Competition Companies like samsung, lg, huawei and google. Were okay with that. I there are concerns about the size of Tech Companies our services are about connection and our Business Model is advertising and we face intense competi
Lets start with you, josh brown. This is something weve been saying probably like a broken record for, it seems like weeks now. It has been. The nasdaq, new record high. New record high. Is this something that worries you a bit that it just goes up in a Straight Line well, it doesnt worry me because as an investor, i would never have 100 exposure to anyone segment, sector or a pekts aspect of the stock market we preach diversification. Most of the people we give Financial Advice to are already wealthy. Our primary mandate is to keep them wealthy not race against the triple qs and try to do better than any over one, three, five year time frame. Theres two ways you get beaten up in this market from buying stocks at any price and paying any level for a quote, unquote great company. First cay is obvious any minute now the music stops playing and every one scrambles for a chair and it turns out there are way more sellers than buyers when some volatility gets reenintroduced to this space its
From new york and across this nation today, any number of themes, but there are two front and center. The Vice President will speak in scranton, pennsylvania before ending the hour and jobless claims well over one million widely expected. All of that devolving into the layoffs here, the layoffs presumed to come and it sets us off for an American Labor economy that must be addressed. With that, the Market Reaction, as well. Jon ferro, the news flow has really been on recently and crescendos this morning into these announcements of job cuts at too Many Companies. Arethan by any standard we in a labor market crisis. There is a ton of work still to come. What we have seen from the Big Companies is they are starting to right size the business. We talked about this we talked about this week ago on the program. Companies are turning around after the shutdown and saying, we have to cut into this new world because we are not returning to normal anytime soon. You highlighted this yesterday, that
Francine second wave fears. Beijing cancels flights and orders schools to close as coronavirus cases in the Chinese Capital rise. Florida and brazil report record new infections. Jay powell says the fed will use all tools to support the economy and defends its foray into Corporate Bonds. Robert kaplan tells Bloomberg Health care policies are key to the recovery. And geopolitical risks add to headwinds for investors. Seoul says north korea must bear all consequences of its actions. Indias defense stocks gain on rising tensions with china after a deadly clash in the himalayas. Good morning, everyone. This is bloomberg surveillance. Im francine lacqua, here in london. Tom keene in new york. A lot of the focus is on stocks. We are seeing european stocks adding to the rally. They seem to be shorting off concerns to the infection rates. The focus today once again is on government and monetary stimulus. The dollar is slipping. We are looking at a couple of data we are looking for we had the s