As the action ultimately turned negative today down. S p declining. 80 and believe it tech and 234nasdaq plunging 1. 6. This month the market is led by the covid winners, the names that do fine when the economy is frozen those are not the stocks that lead us higher when times are good but as we saw today, covid plays could lead lower when the economy is improving are we finally emerging from the trough lets consider the case here first, you need to know. Were in a dangerous place its dangerous to be where we are because you can never tell if the economy is really at an Inflection Point until after and even if it is, covid stocks make up the average and drag down everything were now in the third day of this rotation with the Fastest Growing covid winners, industrials, travelers, retail these groups struggled to find their footing because they are covid losers but now in the morning today but the last two days, they are on fire i mean, did they give up the ghost at the end of the day . I
Protection of undocumented immigrant children. He calls it, quote, a shotgun blast to the face of conservatives. Is june teenth marking marking e official day of slavery in the United States and Many Companies making today an official holiday, more on that ahead. Big tech taking on commander in chief. Campaign says its a symbol used by antifa. On campaign trail put joe biden far ahead of President Trump as the president bushes for more live debates before the november election. And america together, meet a High School Principal going above and beyond to make sure his students get their diplomas in person, mornings with maria is live right now. European markets on the rise this morning, gains across the board, 1 to plus side in england and france, close in germany. Investor attention turning to European Union 840 billiondollar proposed program to help economies rebound after coronavirus. In asia overnight it was buying across the board, gains on all 4 major markets there. President trum
1. 1 but underneath, it was insane after a big dip at the opening, the market came roaring back into the black. This was a day when both the recession stocks and the recovery stocks worked long term thats just knot sustainable. Sooner or later, someone, one of these two groups has to be wrong but short term as were taught, anything goes. Let me break this one down for you. This market has two big themes, completely contradictory and a third team thats down right apocalypse first, the american awakens train. The people who buy into this thesis, well, they believe the government made a terrible mistake locking down the economy. Im part of that group we wont make that mistake again. Now that the country is reopening, they expect people to go out and spend and return to work as they see it for all intensive purposes, the pandemic is behind us the worst is over. We have a better understanding how to treat covid and in the fall it wont be on the radar screen despite records in florida and te
Exclusive conversation with him. Plus insider buying, our friday segment. We are seeing the most bullish that we have seen in months. One Company Insider buy. It is not a name that we talk about. Well name that name and 13 million reasons he is optimistic on his companys future. Friday, may 22 you are watching Worldwide Exchange on cnbc. Good morning, welcome from wherever you may be watching we made it to another friday great to have us here it seems interesting here memorial day seems early this. Stock few you ares down about 170 points seeing a little weakness here. Markets seeing a relatively mild day. Huge up on monday, down half on tuesday. Gain some of them back for wednesday. Lost it yesterday. Really has been a roller coaster week that Hong Kong News well get to stocks tumbling and our futures down 170 lets get now to that news the communist party looks set to crack down on hong kongs remaining freedoms futures are down 170 points now. I believe you have eunice yoon who is rea
Lets go to bob. Hello there are a number of reasons we keep rallying. The bottom line is for the moment generally the market is choosing to see the Glass Half Full whats the Glass Half Full a number of data points. We did have better than expected china export data. Thats pretty good news overall. Were in range bound territory but the trend is slowly on the upside moving to the upside. Lets review the data. Thats a data point we had generally were seeing reopening hopes. Were also seeing a mass i fiscal monetary stimulus most people believe the fed is real the fed put is real and hopes for improved treatments and vaccines Glass Half Full for today. Theres days when the market is glass half empty and they recognize the risks. You can see that in down days. Further downward earnings revisions. A third of the s p is given no guidance at all. Its hard to figure out where the multiples are. Flst concern it will get bogged down in partisan debate in congress we all need more fiscal stimulus