Jim, jon and shannon lets get a check on markets this hour. Stocks are plunging again. Off theirs worst levels and the nasdaq is the biggest loser of the day led by the Technology Names. The dow was up at one point this morning almost 250 points. Now has done a complete uturn and is down triple digits ina big way. Theyre off 425 points thats off the lows of the day the last couple of days, has it made you frightened of what could be to come no. Not at all i think this is healthy profit taking i think whats going on is this massive rotation from growth into value if you think about it, the russell 1000 growth index even after this pull back is up 21 year to date you know that apple and nvidia and zoom are up 340 from the march lows in is healthy i think the rotation makes sense. The reason it makes sense is because the Economic Data continues to surprise to the up side were recovering faster than anybody thought. This is on top of yesterdays data part of consumer manufacturing now youre
What do you think . I dont think its that bad you have plenty of tech stocks up today that have in the green. I guess i dont see it as quite a tech wreck i feel like we have seen actual tech wrecks this year. These are stocks up 100 or more give or take from march giving back like 12 , 8 in some cases. Im not with you on the premise. These stocks are off their highs but theyve been making new highs relentlessly for months. Good point. Let me come back at you and say what about the premise being, stocks were up 100 in whatever they were since march. Was it normal they were up 100 or whatever since march. They were up on multiple expansion. If they were up on all of that and some of the air is coming out of it, doesnt that say they have a lot more room to fall i think its tough to generalize some of them have more air to come out than others and some will continue to report out standing fundamentals without playing any games and see even higher levels than what they are seeing today i th
The democratic nominee holds a 52 to 42 advantage. Support for each candidate is getting more solid as voting day approaches. Meanwhile, the survey also says that biden has a six percentage point lead in a Battle Ground state with confidence. In hong kong, protests have resumed after Police Arrest hundreds of people. Among other things, demonstrators were protesting the decision to delay Legislative Council elections for a year because of coronavirus. Worlds newcome the coronavirus epicenter, and it has surpassed brazil as the second worst hit country. Cases forrted 90,000 the second day in a row. Unlike the u. S. And brazil, indias caseload is still accelerating fulltime in the u. K. , british Prime Minister Boris Johnson is gambling on a no deal brexit. Johnson will tell the European Union today he is willing to walk away rather than compromise on what he sees as the Core Principles of leaving the block. He has set an october 15 deadline for the deal. The big Sticking Point is the is
Buying longer on that curve . If so, that will keep rates lower. The path we are leading down is not a good one. What the fed is trying to do is what every central bank is trying to do, which is engineer growth. Tyler george bory is with us now. Talk to me about what you have been noticing, your take on the big reflationary trade yesterday but then a little bit of a comedown in yields again today. George thank you for having me on, always great to be on the show. Powelll question is, is seismic shift, or more of the same . The reality is there are some significant factors here. The biggest is the acknowledgment that there has been a Material Change in the economy. Unemployment can go lower than policy makers expect without causing inflation. They have issue is, also kind of acknowledged there is a limitation of Monetary Policy. Those two factors we view as material. Shift,terms of a policy what they are likely to do going forward, it feels like it is very much same game. The way we are
From Home Software stocks. And tech continues to lead, apple, netflix up 4 it is walmart the top performer in the s p 500 were going to dig into that one. Record close watch 59 minutes left to trade. That meat and potato and delicious gravy joke from tyler. A bit of an inside conversation between the two of us today. Of so apologies for that lets have a look at what is coming up along with the meat, potatoes and gravy the ceo of labcorp joins us. Florida is severing ties with quest diagnosics and walmart upping the stakes with amazon announcing the launch of the prime competitor well discuss with the former head of walmart u. S. And a food giant bets into the biotech game well speak with the ceo of nest nestle bet with a peanut allergy treatment. Mike santoli is tracking the action on this first day of september. Josh lipton is focusing in on apple and what could be the next catalyst for that stock. And phil lebeau has details on teslas Share Offering we have another tack on rally. A l