Up for an eighth straight day. The mega cap tech names making the new milestones josh, the big five as we say amazon, apple, facebook, alphabet, microsoft all but alphabet hitting the new highs today crossing 6 trillion as you flag end market cap for the first time ever. They, amazingly, are now equal to the next 24 largest s p 500 stocks combined. You flag that. Yeah. What do you make of it . Yeah, so my research. We put this up last night. Just incredible when you think about the companies that make up that next 24 were not talking about small potatoes were talking about jpmorgan which is a 300 million cap and pepsi, coke, mcdonalds. Its really wild and these stocks now are just going parabolic. I think i want to maketwo points very quickly. The first is that this is not unprecedented. In the mid 1960s just two stocks General Motors and at t made up 14. 5 of the total market cap of the s p 500. And the top ten names in the mid 60s made up about 50 of the market cap so, we have seen t
Tweet us cnbc fast money. Lets start with a strong start to the week for the markets. In fact, recordbreaking close for the nasdaq tech leading the way it has done so often guy, your take on todays rally. If we snapshot today, guy, Half Way Point of the year, the dow is down 8 or so the nasdaq 100, up 21 , almost a 30 differential will that be repeated in the second half of the year . Well, first of all, its great to be with you you know, im a huge fan of yours. Ive mentioned that number of times. So. Thanks for hanging out with us this evening. Thanks for having me, guys. Im hard pressed to believe that you can come anywhere close to having that same kind of out performance in the second half but i have to say, i didnt think it would happen in the first half of the year so who am i to sort of speculate on that. What i will say in terms of the s p 500 with its move basically within a whisper of its alltime high if you assume 130 worth of earnings for the s p 500, which is a pipe dream,
President s, you need to put a tiger in the tank. It is very clear what the uk needs. Uk Prime Minister says a brexit deal by the end of the month is possible despite key sticking points. Jeff bezos goes to washington founder and ceo is willing to testify after long resisting a longranging inquiry of antitrusting nbc confirms north korea has blown up an office hours after they threatened to take action. A warm welcome this morning. A lot to get to. Lets kick off with the energy markets. We have a fresh report out of the iea. The iea has raised the 2020 forecast by nearly 500,000 barrels a day due to demand from china and india as well as the lockdown Global Oil Supply outlook fell in may opec plus countries reduced out look by 9. 4 Million Barrels a day. Interesting to see that they do now see a stronger Oil Demand Forecast than they now had seen previously they note that oacd industry stocks rose to 3. 1 billion above fiveyear average. In terms of oil demand, that is coming from bette
And extraordinary leaders that i think encapsulate the spirit of this moment in the spirit of war we want to take this moment in terms of the call and demand for change. Ive had the privilege of traveling all up and down the state of california over the last couple of days. I had the opportunity to spend immunityorking with leaders, faith leaders, working with advocates, working with members of our own National Guard to help clean up the streets of sacramento. Randomly had the privilege and opportunity to meet up with a group of young people around the Police Officers memorial that were cleaning up graffiti. A young girl literally with one lung that outlasted all of us as she was scrubbing away for hours and hours. No one asked her to do it. It was an act of random kindness and a recognition that her impacted and being her life and her future impacted by the moment. She wanted to impact the community in a positive way. She was also part of the protest the night before, did not like a c
Two or three hours ago. The vix comes in from 44 to 41. There is a whole idea of an expanding pandemic all the throughout multiple geographies. There is optimism with Research Houses reaffirming some form of vshaped recovery. It is the oddest monday i can remember. Francine it is a pretty odd monday, although i have to say i have had other odd mondays. Thats get to first word news with ritika gupta. Economyin china the keeps inching its way out of the coronavirus, less industrial output rose 4. 4 percent in may from a year earlier. At missed estimates, and consumer demand is sluggish. Retail sales declined more than expected. So did fixed asset investments. The white house top economic advisers rejecting a more cautious outlook for the economy. Larry kudlow says the chancellor will be the chance will be for a vshaped recovery. He told cnn the Unemployment Rate will fall and 2021 will be another solid year. Kudlow also said the 600 a week on his payments made some americans will end jul