We got a hard reversal all afternoon thanks to saber rattling over the south china sea. 560point gain to close up 11. Nasdaq led us lower plummeting 1. 3 and s p lost. 93 some will say this, that this today was a short term top i think it was just a hideous Money Managers eager to lock in gains. Who can blame them one was up 7 . Up 7 last week and you know what i think it could be short term in nature. Its got a great start to a week that sets the tone for the whole earning season what is the game plan for the next four days since i was away on friday . You know what . Weve heard from pepsi co today. Pepsi gave upmost of its terrific gains we also got a big Semi Conductor deal by entbetter than expected numbers and that the how it felt before the rolled over tomorrow is where the rubber hits the road, and it could be rough. We hear from the best of the banks and the worst of the banks. J. P. Morgan and wells fargo. I dont know if j. P. Morgues results will be good enough to offset well
A propaganda war amid rising tensions on the Korean Peninsula and easing lockdowns once again you plans from britains Prime Minister to resolve the economy during a coronavirus. And sporting huge so support for the African American race driver who was the target of a racist act nascar drivers pushing his cart at the front of the open for mondays race in alabama. So were starting in yemen this hour with the who the rebels say they have launched what is their biggest military operation against saudi arabia yet h. Drones and 3 Ballistic Missiles have been 5 towards the kingdom since monday and the who to say they plan to launch even more for their part the Saudi Coalition fighting in yemen says it has intercepted a Ballistic Missile that was heading towards riyadh a Coalition Spokesman says that attack was launched from yemens capital sanaa towards civilian targets in the capital. In response to the continued and just blockade and brutal aggression on the great people of yemen and our gre
How fast this economy will recover. We debate that today with our Investment Committee its good to have everybody with us josh, is that what this is is this a reality check of sorts on where we truly are and how long this recovery will take hold then we have this massive count r trend rally where it was just the opposite i think that was important for the market to have that catch up in a lot of the names that have been so substantially trashed, maybe big moves to the upside. See some excitement about companies that arent based in coopertino and thats fine again, the prevailing trend, the real trend is taking hold again today. Even the stay at home stocks are rallying again it almost feels like its blue team, red team lets say blue team is where people have really made the most money and then red team makes money occasion mally when they do those counter trend trades. I do think we had a two month bubble in day trading activity i dont know if its over yet. Fie it feels like its burstin
From tesla sent into over drive. And general mills, pitching the next best idea, why they say this gaming stock is a total home run we start off with a record run on the nasdaq with a new alltime high since february and do you on the best winning streak since september this coming as States Reopen if some form from the coronavirus shut downs and as cases are starting to rise, so does the markets resilience. In spite of this proof the rally has staying power. Guy. Its remarkable, isnt it again, a lot of people say this is pretty obvious, was easy. Clearly wasnt easy for me, number one im not going to all of a sudden change course. I respect the price, have to absolutely respect it. One thing ill point out is this, in march there were couple days we saw what i deemed back then indiscriminate selling that was a good sign to lead to capitulation today wasnt buying to that magnitude but did you see some stocks higher so maybe were getting close. Again this phased out at 2800 in s p where 40
I know youre loathe to lay into fiscal policy but given forecast for Unemployment Rates, do you think its important that congress extend the extra unemployment benefits. I think were trying to keep our comments on fiscal policy at a high level ill come to your specific question let me just say this, this is the biggest economic shock in the u. S. And in the world really in living memory we went from the lowest level of unemployment in 50 years to the highest level in close to 90 years and we did it in two months extraordinary. Appropriately the response there fiscal authorities has been large, forceful, and very quick by the standards of these things roughly 3 trillion congress has authorized, and thats benefiting households, laid off workers, small and medium businesses, hospitals, state and local governments, 14 of gdp, its in a class by itself in terms of both the size and the speed of it. Its also pretty innovative. Both the ppp and Unemployment Insurance are quite innovative in th