You. Like, if you dont want to be irritated or you get easily irritated, please do not watch the Republican National convention. If your Mental Health is right on the edge of you going crazy, do not watch the Republican National convention. If you got high blood pressure, please, do not watch, it is way too much going on there. First of all, donald trump has his whole family speaking. Like i didnt even know Tiffany Trump existed. I dont even know what she does for real. But she was speaking at this convention, and this is so weird. It is so many random speakers. One of the speakers, and its not necessarily random, but yeah, it is random, i will say that. Last year, there was a group of protesters at the washington monument, an elder nativeamerican and a faceoff between him and this young maga kid, you know, maga is make America Great again. He had his red hat on, making that weird smirk on his face, like a little jerk, like this is crazy, and that hat, man, he actually spoke at the con
Record close of 2020 i talked yesterday about the stunning market cap gains this year for some names like amazon which has added 674 billion in market cap this year is it out of hand . Is this too much i think its a little too much maybe thats why youre coming to me first. You know i might be a little provocative here and say you can trim this doesnt have to be a digital on off decision of youre all in or all out of tech obviously, tech has fundamental business tail winds propelling the stocks higher. The top five stocks in the s p 500 are 23 . Unless youre used to running a 20 stock portfolio, which most people arent, that means the names are over weight. If you trim them and take two Percentage Points off and bring them down to four Percentage Points, now youre running a 25stock portfolio and youve taken 4 points out of the tech area, you can put it into whether ever you want. You can put it in health care which is on fire Energy Stocks are rolling today. Its okay to say things are h
Forth with portnoy on what you say are amazing insane moves that can continue. Yeah, i mean, understand there is florida has been so much comparison in 1999, 1999 was never like this. You had a lot of crumby companies that would go up a lot but nothing like this. I mean, we have major trillion Dollar Companies that are going up at a pace that weve obviously never seen because we didnt have trillion Dollar Companies before but i do think that my friend David Portnoy hes got a big cohort saying that stocks only go up and im just giving this is frightening im giving a little bit of homage here because, yes, if you got in when davie trade got in, i mean, all youve seen is up. So its not wrong for him to look at that i mean, the guy got in i think march 23rd when he decided to take the suits on directly i got up this morning, i said, geez, maybe i should wear jeans. I dont want to be like wrong. I want to be i dont want to be on the other side of the trade of this guy. His timing is excepti
167 drop. Turn positive 59 minutes left in the trading day. Yeah, set for another record day all time close for the nasdaq coming up on the show, the dow component and tech component an hour away from that up more than 30 from the march lows still down year to date. Well have full coverage and analysis when those numbers hit. First of all, lets focus on the big stories were watching mike santoli is back and tracking all the Market Action for us meg terrell has new details on a number of vaccine candidates and were following the action in washington with the key deadline approaching. Mike, lets start with you its almost faz that rotation out of tech into value didnt even happen. You missed it all of last week you know, exactly a little bit of a stutter step that is all. Maybe it took for the overheated big nasdaq names to cool off for 4 1 2 days, 4 1 2 trading days but they are leading the way today. Is a very narrow rally it is a slow motion breakout you look at a year to date, thats g
And a lot of those stocks on fire. For some folks, that is all you need to move this market. Caroline it really does blow your mind. Taylor i will leave you here with three comments, not to cut you off, caroline. Jeffrey gold main and end cam partners are three analysts raising their prices on amazon. Almost a 2 trillion company can rise more than 5 on the day. Jeffreys, 3800 price target from goldman. Looking at 3350. Talking about the structural shift underway from these companies that are not just benefiting from a work from home environment, that is a permanent change that they see not going away. Caroline i take you or three, i raise you three. Im looking at morgan stanley, rbc, and socgen worrying about the complacency in the market. Looking toward the election we have in the u. S. , the risks as we get into august, september, and the turn we see in the market. Lets get the take from chief Investment Officer who is still with us. Is there complacency in this market . Brent maybe