Fox friends he is considering delivering his Convention Speech from the white house, an unprecedented move. Joe biden is not even going to his own convention. Well get reaction from Deneen Borelli. All that and more on making money. Charles folks, major indices are marching higher, despite a early report from adp on jobs. That was a big disappointment. Stocks are climbing focused on the Stellar Service data and drop in crude inventories. I want to bring in spotlight assets shana disel, and phil blancato, mike lee, of mike lee strategies. Phil, let me start with you. I like what im seeing from Economic Data. We sort of wrote it off as a lot of states started to stall or pull back reopenings. Going back to the ism manufacturing data. All the Regional Manufacturing date, service data today, maybe the v is getting stronger, not weaker. What does it mean if it is for the economy and the market . Ebb tide becoming high tied. We were in the ebb tide last few weeks. Manufacturing numbers told
Yesterday carl was a discouraging day for a lot of people who have been chasing momentum because last week was maybe one of the best momentum weeks i can recall since 1999, which meant that if you bought it went higher and how much fun is that . Yesterday was the day that you bought it went higher and then you got crushed. So i think that usually takes a couple days of reset where maybe you can after stocks that arent as hot, say, as tesla. So you would focus, say, on Something Like the banks ive been through the banks and i know dave and i talk about this all the time, they are incredibly complex beasts, they are not like, oh, tesla, hot and when i first went over them i thought they looked pretty good but already theyre reversing. This is not an uncommon pattern as people find one line or two line that they dont like and then they sell these stocks. David, its happening once again. You know that these banks could have had littered with bad loans, its not, they have great trading, the
Good morning welcome to squawk box here melissa lee is hanging out again with us. Becky is off today for some welldeserved vacation well see her next week. As joe said yesterday, one of the first down days weve seen in a while a little better s p up about 13 and nasdaq looking to open about 45 points higher also showing you treasury yields now you can see where those are standing well flip that around to. 628 on the 10year you thinking about refinancing a mortgage anytime soon, guys . Im as low as they go im good if you have an account where you can use assets for credit line or to make an investment or Something Like that, i remember two or three years ago, i locked this ridiculously low rate if they come to me again and offer another one, it will be lower than it was last time. It was like 2 or 1. 5 when you get money that cheap, dont you think you you are in the drivers seat when rates are this low i dont feel bad about borrowing money at rates like that so you are talking about get
In terms of an after hours session for us it certainly is so many Earnings Reports coming out. And four giant Tech Companies among them coming up on this massive show, fresh off earnings this morning, an exclusive interview with david taylor shares hitting a new record high today. The company saw consumers stock up on Household Goods amid the pandemic and then at the close, well get earnings as sara mentioned from names like apple, amazon, facebook, and alphabet those companies represent some 40 of the nasdaq 100s total market cap that is all coming up today on closing bell. Lets start with the markets the dow more than 500 points intraday swings today. Now at the moment down by 200 points mike, an intraday recovery inspired by the european close this was soft. Once we got that behind us, allowed us to bounce a bit it is true. The markets absorbed that weakness in europe as well as, of course, the ugly economic numbers before the open. Also i tested the recent lows in treasury yields w
You cant be both with the yeah you like. We had a period of time where we had 7 and a half miles of mills ok continuous 7 and a half miles of mills theres none left and carry an all around all our manufacturing memphis country all these things and i blame it on the politicians its the establishment its washington d. C. Theyve got their little cliques theyve got their thing. They dont care about i mean us. And it doesnt matter democrat republican theyre all the same theyre all im sorry to use that language but. Theyre in there for one thing theyre in or to get elected. The reason Donald Trumps in there is because hes a celebrity or he did this or he did that he is in there because he is not one of them and we are so frustrated. We had to vote him in if donald trump goes away well find another trump believe me well find another one the people dreamed this couch the people built this country at its the people who are making America Great again. The clintons and the obama was all oh they t