Listen, i know this market is going crazy after another fabulous day, the dow gaining 378 points i know it gets a little much as it is a 1 record high and Nasdaq Record high there are extreme valuations everywhere i see the mceldercloud stocks ad another incredible rally as few stocks are participating nasdaq is up 26 but a huge chunk of that is facebook, amazon, microsoft and alma bphat that gets the g in the acronym niece stocks are not that expensive if everything goes right for them everything that could go right has gone right the notion that apple supports a 2 trillion valuation is decemb disturbing for many people and there is skepticism that tesla up 390 for the year could be worth more than 375 billion. These are what people talk about. And theyre staggering moves when so many commentators said its absurd that tesla had a big market cap than ford and toyota, even though it makes fewer cars, its bigger than all of them combined everybody that fought them, they have thrown in th
Before but investors remain bullish. We are on record close watch for the three major averages, as we stand, the nasdaq and s p pretty comfortable. The dow just higher, though, by only 0. 1 . Industrials the only sector in the red. Consumer discretion. Joining us, josh brown from Wealth Management. Well done. What did i say . Im not sure. It was cute. I got close enough. Lets stay on track nasdaq, dow, s p. With almost nothing in the red at all. Its bigger than that 52week highs for the slf. Bank sector. Very, very key incredibly bullish Consumer Sector spydr. Look at the usual suspects, xlk. Off the radar things that are happening thats really interesting. This might be because enough tax law selling has already occurred or traders are anticipating the end of that. Some of those highprofile ipos that blew up this summer and fall are starting to make meaningful moves off their lows, looking like they could be putting in a sustainable bottom. Peloton, after a very disappointing debut. S
Tomorrows story line because after the fang stocks declined today, you Better Believe the obituary is being written again right now. With two as and two ns facebook, apple, net fix, nvidia or goggle, the company now known as alphabet. Any weakness in fang is worth taking seriously, of course, especially on a down day like this the dow declined 37 points the nasdaq lost 0. 44 . These periodic pull backs. So that way you can try to figure out whether its worth tearing your hair out some more. Maybe sell first, lets take it from the top down or whats known as the macro for those who want to sound really smart we have higher Interest Rates. Bonds sold off that gives you higher rates which i think is a consequence of the economy doing better, not to mention the tax bill that could really make thingsheat up when you consider the big hole this puts in the deficit, you know the government is going to have to borrow a lot of money, meaning there will be a hurj influx of supply in the bond marke
President can do for the families of those killed in action. Point the president was making is there is a different process. Sometimes they call, sometimes they write letters, sometimes they engage directly. The comments were certainly, i think, taken very far out of context by the media and any frustration, thats where it should be focused. Blake . Let me ask but something Steve Mnuchin said since you talked about the stock market a lot, and the president does as well. He said, and i quote here, theres no question in my mind if we dont get it done, meaning tax reform, youre going to see a reversal of significant amount of gains. Essentially saying if tax reform doesnt happen, there could be a major correction on the corner of wall and broad. How concerned is the president of that possibility . Were confident that were going to get tax cuts done, and so thats what were focused on and going to continue pushing forward until we get there. Reporter on the health care bill, if you dont min
Of rules this is something that a lot of people dont seem to understand. So after a day where the dow gained 58 points, the s p advanced, nasdaq declined 1. 7 i need to explain how a bull market differs from a bear market or an order fair market last night i got a lot of praise for coming out and admitting what i think is the obvious, yes, this is a rip snorting bull market its driven by the fact that the Global Economy is doing much better for a lot of reason people dont want to acknowledge this either theyre trying to fight the take or go against the stock market or be caught on camera saying something positive in case the market goes down the next day and they end up looking like a moron in case somebody replays the tape on youtube. Im more concerned looking like an idiot than more concerned that you may be scared away from the stocks lets dive right into it this kind of bull mark, stocking can go higher than you think the discipline you need to be in this changes in a normal market