S p by 11, nasdaq up by about 42 there were a few areas of the market yesterday that continued to outperform including the small caps russell 2000 coming off an alltime intra day high. And then there is the khodow trs trading at a record high and right now it looks like the ten year is yielding just about 0. 8 the transports a lot of times, they are an early indicator of what is to come, but maybe more difficult to glean what is happening this time given the overall virus situation. Yeah, it is and it is really not things Like Airlines so much driving the transports actually fedex and u. P. S. Are arguably kind of stayathome plays and they are also big components of the transports so really just kind of gone sideways in the last day or so, not much of a pullback just yet. So well very to see how that develops and in this context especially with the White House Task force painting a bleak picture on the near term outlook. The most recent report warns that there is, quote, now aggressive
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All the fast moving developments. The back to improving trend here but the markets are chewing on that, i guess assessing not improving fluff. What is your take . I agree with you. If you look at continuing claims, they have fallen pretty dramatically. The weekly claims there is sense by the market to keep the momentum going. Maybe that is a stimulus package. We dont know. Obviously the market takes it as a slight negative. We have had in the economy last couple months is housing boom, explosion in building. It has driven up commodity prices. Lumber prices. Multiyear highs. Multidecade highs. There is a concern that may cool off a little bit. Housing starts slowed down a little bit in august. There is a little bit of concern, that maybe that bright spot in the economy is starting to go down a little bit but not so much if you look at the oil market. Look at the oil market it is kind of signaling Better Things ahead. Weve seen a big jump up in oil prices, the last couple of days, a big
The nasdaq is testing the lows hit during last weeks threeday selloff that sent it into a 10 correction. Any more than a 206point loss for the nasdaq and we right now are down 212, so yes, we are now deeper into that correction territory. We knew the pandemic absolutely crushed the travel industry but now booking holdings, forced to take a draconian step ahead of the Holiday Travel season in order to stay alive. The ceo of booking is here to tell us if hes at least starting to see a shred of light at the end of a very long lockdown tunnel. Plus we are on the ground in florida after the aftermath of Hurricane Sally. A money manager to sports star shares his covid stock picks. And new evidence of a coming coronavirus foreclosure disaster. Less than an hour to the closing bell, lets start the claman countdown. Liz weve got to get to the hottest software ipo of all time. It is now getting iced over, with about 59 minutes left to trade, take a look at snowflake, falling hard after yesterday
49 cents today, 3346. You gotta see tesla, jeffries is alien that stock could go to 2500 a share, maybe 3000, its up 23 bucks premarket. As we keep saying, you are watching history. The open today, the dow is going to be down about 20 odd points, then we have the s p, its hit 17 new highs this year, itll be up again this morning, the nasdaq has hit 38 highs and up again first thing this morning. Blockbuster economic news, google good orders come up 11 . That is money, now politics. An audacious second night at the Republican Convention, the president parted a bank robber, then he surprised five immigrants making them instant citizens right there in the oval office. Mike pompeo appeared from jerusalem and niclas salmon said you cannot cancel me. But it was First Lady Melania Trump who stole the show at least for me. She walked down the white house and delivered a speech about growing up economy and is him and yearning to complement america. An immigrant who likes it here. I promise, you