Could take the stock to new heights. We hell join us as power lunch begins right now thank you. Its been a whip saw day for the markets with the nasdaq up nearly 1. 5 before turning negative bob will break down the wild swin swings for us. Bob. Its been a choppy trading day. Most of the stocks were up early o on thats the lows for the day for do docusign as well still trying to figure out what they want to do. They are figuring out, its hard to figure out what the right price is look at the things buffeting Technology Stocks that everybody has to figure out. We have accelerated revenues thats great news. All the work from home stuff we have stimulus with fed all in thats good news the reopening nar tirative is positive thats good news we have the momentum plays like the robin hohood people involved the traders get confused on whats the right price whats the right multiple with all this stuff going on. Look at this in the last seven or eight trading sessions, docusign has swung from a h
We ta retail sales were lower than expected autos adding to the pain with biggest names if the group or deck for earnings next week, well tell you which stocks could be set to take off later, it is apples epic battle both apple now and google kicking out fortnite out of their app stores well explain why they are doing it the fight it could spark and the crackdown on big tech that could be in the cards. Power lunch starts right now happy friday to you. Check out the transports out performing this week up 4 those moves are thanks to fedex and avis budget up double digits for the week with all the major averages up more than 50 from the march lows, its the question being heard around wall street is the market rebound getting too far ahead of the economic rebound. Were digging into the data. The stock market could recover its all time highs we went back to 1973 and looked at how stocks behaved. It takes 2. 7 years to get even this recovery probably will be measured in months the fed and co
We begin with the call from Goldman Sachs to avoid apple, to sell it. John, to you first it is your biggest position. Is this the right call from Goldman Sachs reiterated to get out of apple all right were not hearing jon. Well work on that the steve, youve trimmed a bit of it what do you make of this call. We see apples recent Stock Performance and trading level as unsustainable and will continue to recommend that investors avoid this stock i did trim some a number of months ago its still my biggest position i trimmed it to me, apple is the market right here the stock does not deserve to be where it is but neither does the market and neither do a lot of stocks. I believe youre in front of the companys biggest Product Launch ever, which will be the 5g phone. The market is forgiving lot of the sins if youre looking at purely does it deserve to be here in a microscope looking at apple . No you can make that case on anything im not selling anything let me take that back. I may trim a litt
And how they are working with diversity and how they are changing the company with what that means. Seasons season is officially underway. Scarlet fu is here with some of the highlights. Scarlet i wanted to start big picture, as with banking and other parts of the economy, the stronger getting stronger and the weak are getting weaker. Citi leaning on their trading business. You can see that jp morgans revenue soared thanks to training. Record revenue for a second straight quarter, and equity rising more than 30 . At citi we saw trading surging 68 and with companies trying to raise cash as quickly as possible, investing got a boost as well. Wells fargo does not have the same wall street operation. If you look at wells, reported a loss 2. 4 billion. The first quarterly loss since 2008. Nine and a aside half billion dollars for credit losses. See jp morgan putting aside 10. 5 million. That is the biggest loan loss provision in its history, and it shows us how covid19 affected the economy
One trader says this rally has more room to run your rbi on this thursday, july 16 more ahead on cnbc. Good morning from wherever in the world you may be watching thanks for joining us this thursday morning dow futures have an implied open down around 200 points futures you can see off triple digits fair action higher all of this after the dow capped a fourth straight day of gains the index crossing 27,000 for the First Time Since june 10 leading higher was boeing coming off its best day since last month. In technology, no win street yet. It has been weaker in the last couple of days it is still close. The level to watch, 10,617 would give us a new record still watching shares of moderna. Still in focus it is higher right now after closing well off its session highs. At one point, 88 a share. Investors tempering. Tens of thousands of robin hood traders taking free new positions in moderna stock just yesterday. Around the world, things are Getting Started in europe. They are in the red.