Is it time to bet on stocks that thrive and rebound in the economy . Thats what todays action said. Dow gaining 359 points the s p rising 1. 47 that was easy ooh, and the nasdaq advancing 1. 1 buy, buy, buy with many of the biggest losers of the year leading the way. [ moo i say not so fast. Look, we all want to go back to normal even after we lift the lockdown, the new normal will be different from the old normal. Im tired of the cliche, normal this, normal that. Things have changed for starters the new normal is less investable i dont think it makes sense to fall into the gap of Carnival Cruise or attend live nation concert. The streets roared theyre compressed springs given how far theyve crashed, i think theyve got more legs to them hey, if i were a Hedge Fund Manager id do these stocks by tradein state by state openings if i were an investor like you, i would let them run if i was stuck in them, then escape for the stocks well be talking about later in the show. You have to unders
Pressures for boeing, downgrades at Credit Suisse and ubs renewed congressional scrutiny, shares tumbling 10 on the past week. Opioids on trial in ohio for Drug Companies reaching a last minute settlement ahead of a landmark First Federal opioid case. And Mark Zuckerberg speaking out, why the facebook ceo tells nbc news it is more important to be understood than it is to be liked. Shares of boeing under pressure, having its worst day in more than 2 1 2 years, losing almost 7 friday. As we said, Credit Suisse and ubs cut the stock to neutral from buy today boeing under scrutiny following the revelations of the emails from 2016, which called into question the safety of the 737 max jets Flight Control system. The board met over the weekend, expressed regret over the message, continuing to investigate. Dennis muilenburg is scheduled to testify at house transportation next week reuters suggested this Board Meeting in texas may consider things like job cuts and some other kinds of trimmings
Week, it is like inversion wednesday is here. Are things different this time around, pete, because this time stocks barely reacted. Granted, it was fleeting but we are ever so close to the inversion. Thats true but the reaction i think does speak something about whats going on in the market right now, and i would also add volume yesterday, volume today, at least in the derivatives world, has been absolutely depressed. Steve can talk about the nyc, but we are seeing volumes that were unbelievable. We are talking about 7 million per day over average is what weve been seeing over the last eight or ten days. So it is amazing how much volume we are seeing. With that volume it gets interesting, but the last two days, the light volume is concerning it is almost as if everybody said, you know what . Maybe well take the last week of august off. We will pull back a little bit, off of all of this maybe the inversions are not as dramatic. I would have thought that the inversions, the reaction to t
Washington says the meeting was constructive. Joe biden is the front runner of the democrats second night of debates. Breaking news out of south korea. We are getting cpi Inflation Numbers missing expectations for the month to month. It is contracting 0. 3 . The second month seen cpi inflation in south korea track in the negatives. In expectation of prices to stay flat, but we are seeing deceleration monthtomonth. Year on year, it is also a miss. 0. 6 tion accelerating instead of the expected 0. 8. Also deceleration from the previous month of june. Year on year growth of 1 acceleration of core cpi year on year. That is a little above expectations, but the numbers that matter, monthtomonth and year on year are missing estimates. Monthtomonth deceleration and deflation for a second consecutive month. We have seen pressure given oil 14 es, brent crude was down on average. This could put pressure on prices. We still have to say, very well below that target of 2 . Lowerven after the ok thei
We get not only tweets about what the fed is going to do but instant tweets from the president about what they just did. The president tweeting about the decision by the Federal Reserve and j. Powell saying, quote, what the market wanted to hear from j. Powell and Federal Reserve was this was the beginning of an aggressive rate cutting ti cut cycle that would keep pace at usual powell let us down. No inflation we are winning anyway but im certainly not getting much help from the Federal Reserve thats the president of the united states. The Federal Reserve cutting rates for the First Time Since 2008 today, bringing the rate it controls for overnight lending among banks down by 1 4 percentage point, the new range between 2 and 2. 25 in a press conference powell appeared to dial back Market Expectations for future rate cuts the committee is really thinking of this as a way of adjusting policy to a somewhat more accommodative stance to furg further the three ontoives i mention, to ensure a