Guy the university of michigan giving indicators of consumer confidence, pretty much in line with that except for the Current Conditions number, which looks a little light. It is up in terms of where we would expected to be normally, but nevertheless, you have an 82 print there but and citation of 85. 84 last time. At headline number coming in 72. 5, little lighter than the 72. 9. To 10ion 2. 6 five years years out. Basically everything in linux of the current number. Alix we are a little worried about what is going on. Underwaye call is right now, started at 10 00 a. M. They are reporting some good news in guyana. It has been a huge boon for hess is hard tobut it emphasize how bad this quarter was four at chevron and exxon, particularly with exxon not writing down any assets. Joining us is mark stoeckle, adams funds ceo and senior portfolio manager. It is always good to see you. I want to start on tech. Numbers were amazing. Companies made made billions of dollars. On the flipside, pe
Apple. Josh lipton has the latest reporter apple says the stock split is to make the stock more accessible to a broad base of investors iphone revenue is blowing past expectations 26. 4 billion. I did have the chance to catch up with apples ceo tim cook we talked about those iphone demand trends and the mix in the quarter. Cook telling me iphone 11 is the most popular iphone and we had a great launch, he says, on iphone se during the quarter. It was also very strong, an uptick in switchers, meaning android switchers, that we were happy to see and the iphone se is clearly helping with that i asked cook about those broader work from home trends, how is that benefiting apples products and services during the quarter. Cook says it definitely is, it definitely has boosted, cook saying, mac and ipad, we see those picking up for productivity weve son several school buys of ipads. We have the strongest lineup in both mac and ipads than weve ever had, a combination of those coming together at t
Ahead on todays show, fashion in the time of coronavirus. Well speak to anna wintour about vogues new partnership with amazon on a Digital Store front. Plus we will speak to truist ceo about his efforts now for Coronavirus Relief lets focus in on the stories we are watching Steve Liesman with the highlights from the fed minutes. Just released in the last hour and oliver chen is with us to talk about retail earnings and the big box names he likes so far. Michael, start it off with you what stands out . Yeah. The market just bobbed right back up from that lateday selloff yesterday. In fact, the low for today in the s p 500 hit about three or four times was yesterdays high. So it seems as if, you know, big money investors continue to behave in a way that suggests they feel underexposed to stocks if theyre not going to pull back a lot weve been talking a lot about this rotation theme. You have small caps up a lot and fin tech and financial all were really doing is stretching the upside of
Three handle on the s p. There is no such thing as a triple top yep thats in play the fact that basically no such thing generally as a market that kind of repeatedly tests that upside ceiling and doesnt punch through. I think you look below the surface and say what would cause this move to stop aside from the fact that we are all looking at what are acknowledged to be some resistance levels, the 200day moving average, some exhaustion, Technical Levels out there the leadership stocks dont give much back. A lot of comeback in the most cyclicly attuned stocks at the center of this economic crisis it seems like sentiment is while you can see some speculative froth perhaps in the call numbers and some of the day trading data in general, it doesnt seem like people are overcommitted to equities. That leads you to the question what would stop the move not keep it going. There would be no injustice if this market fell 5 , 10 , but it is not showing you the signs, aside from some wear and tear o
Comes with some of these medical breakthroughs that could yield perhaps advances that lead to people moving around, feeling more comfortable, boosting a little bit those stocks that have been most beaten down, morgan absolutely. When youre talking about reopening, you have names like disney that are moving forward with plans or some plans in florida, you have names like apple beginning to open more Retail Stores in the u. S. As well also crude is one to watch and carl just mentioned it, the fact that were seeing a bid for crude. Wti the june contract expires tomorrow and what a difference a month has made as you have seen production numbers start to come in and started to see some of the driving demand return as well gas prices at the pump up by a couple cents in the last couple weeks as more and more people are starting to come out as we start to see more of these reopenings, but, of course, longer term, as we continue to talk about over and over again, its going to be what does the t