Via the coronavirus, and there is not much of the fed chair can say. Coronavirus is making all the decisions on the economy. Weakersales coming in than expected, actually the weakest since april. The High Frequency we have seen since then suggest the economy is slowing even further into november. The problem of course is there is no help from the fiscal side in washington, no talks about any additional covert relief package. Getting to the end of the year, most of the cares act expires. So people are looking to the fed, particularly people in the markets. They are looking at the yield curve, which has steepened slightly, still under 1 on the 10year, but there is a feeling that if the fed wanted to do something they could start buying at the longer and, changing the weighted average maturity of their purchases. If they did that, push down on Interest Rates. There is a feeling they may do that in december to send a message that we cannot do a whole lot to stimulate the economy but we are
Tens of billions of dollars. You said thats it thats the top of tech the nasdaq was 4400 that week uber High Valuation Companies and use that as your justification to reposition your portfolio. Im not fan of it. Doesnt really work. It makes for better tv than it does for portfolio you dont take a step back and say its 100 times sales this thing has an incredible first day and you dont take a pause. Its not the whole landscape and say i dont think this is good weve seen a million kpaemexs of this. Its not in the s p 500. Investors dont own this in their 401 k its not an important stock. Its a great stock to watch fp lets address it in those terms. Now the stock is getting crowbared. Kramer makes a point. We have this tweet he had on nvidia as well and zoom. It underscores, if you will, i think, very well the landscape and what may be a pull back in some of these loved names especially over the last few months for what its worth, i dont know what octa does. I think that is indicative too
And fight night. Round two in the motor city. Ten more democratic president ial hopefuls taking the stage and debating the issues that matter to the markets and your money kind of. Its thursday, august 1st. Worldwide exchange begins right now. Afternoon, good evening and welcome from wherever in the world you may be watching. By the way, welcome to august. Im Brian Sullivan thanks for joining us. Behind us here is the intraday action in the dow yesterday. The dow from peak to trough fell more than 450 points the upside is that the index closed off ets worst levels of the day. The dow finishing down still 333. Its all because of this man right here fed president jay powell delivering the banks first Interest Rate cut in more than a decade the problem for stocks is that powell also failed to deliver a guarantee of more rate cuts down the road something both investors and one guy in the oval office are really hoping for. It all came down to two small words, mid cycle adjustment. The commi
Hi, boys. Well, hi, mary. What brings you around here . Want some coffee . Oh, no, thank you, andy. I have to run out to the powell place and i wanted to check on the road. Its fine, theyve finished the construction. Is there somebody sick up there . No, but it seems to be that time of the year and nearly everybodys got a cold so i want to drop off some medication. Thank you, andy, ill see ya. See ya both. Uh, mary. If youre worried about the road and youd like to have somebody drive you. You looking for a ride to the powell place . Bye. Uh, mary. Uh. Um. Uh. Are, uh. Are you. Are you doing anything special tonight . Why, no, as a matter of fact im not. How about if i take you to that Motion Picture over at the grand . They say its a good one. Uh, well, uh. Im afraid ive already seen it, andy. Oh, well, how about if i was to come over to your house . Why, thats a wonderful idea. We can watch television and play some records. Maybe ill make a pizza pie. Hey, that sounds swell. It sure d