This rally but also this volatility. Taylor you have been nailing this because we should have had a clue. Gold has been higher all day long and you were on top of that in the past few weeks. Romaine base metals up, too. Copper up 2. 5 in london earlier today. With regards to some of the positive stories. Pepsi did manage to finish the day higher, largely i presume on the back of that she does mac cheese. s mac cheese. Senior, avoid a Portfolio Manager and Asset Allocation head. Apologies for some of the technical difficulties. Lets talk about the earnings season, your general expectations, and whether valuations are in sync with that. Earningsms of startingons, you are to see revisions start to climb. The market is really looking towards 2021. On isg thing to focus central bank liquidity. That drives asset prices. When the economy is acting below potential and the quiddity is being pumped in, it tends to drive up asset prices. One thing we are watching very carefully is the growth rate
Two or three hours ago. The vix comes in from 44 to 41. There is a whole idea of an expanding pandemic all the throughout multiple geographies. There is optimism with Research Houses reaffirming some form of vshaped recovery. It is the oddest monday i can remember. Francine it is a pretty odd monday, although i have to say i have had other odd mondays. Thats get to first word news with ritika gupta. Economyin china the keeps inching its way out of the coronavirus, less industrial output rose 4. 4 percent in may from a year earlier. At missed estimates, and consumer demand is sluggish. Retail sales declined more than expected. So did fixed asset investments. The white house top economic advisers rejecting a more cautious outlook for the economy. Larry kudlow says the chancellor will be the chance will be for a vshaped recovery. He told cnn the Unemployment Rate will fall and 2021 will be another solid year. Kudlow also said the 600 a week on his payments made some americans will end jul
Just like this miserable quarter. The house of pain the s p shedding 1. 60 . The nasdaq declined 9. 5 the Dow Jones Industrial average had its worst quarter ever the craziest thing, though, truly crazy, do you know it could have been a lot worse. All sorts offer stocks have roared since the bottom a week ago. S p rose 1. 9 last week. Were leaving the quarter with almost as much hope certainly we had it than despair. How is that possible when the pandemic is raging and the entire economy is in dire straits . This decline was vicious as anyones ever seen it. Investors tend to regroup. They figure out what they can make peace with, but whats too toxic to touch the ones they made peace with have stabilized and can actually rally on good days, but they may not have bottomed. You know exactly what time talking about. Days like today theyre going to give up the ghost a little bit theres some terra firm a there for some of these companies. The question now, are the stocks that led us in last w
Europe and why debts keep rising so much in spain and in italy and what can be done. Tom we have an important interview in the next hour on the virus. We will go to mount sinai for that. I am next to the outside i manhattan hospital in new york. I will tell you, it is an extra ordinary monday. I know you see in in london, we see it in new york, with quiet streets and politicians really needing to adapt. My major message in this hour is the complete readjustment and struggle that global wall street is having trying to gauge this contraction. I love what bruce kasman said at jp morgan. He looks back and harkens back to the contractions that we saw before world war ii. Francine i think we had an update on friday from goldman sachs, j. P. Morgan on the Second Quarter gbp just gdp in the u. S. , and the numbers are nothing like we have ever seen before. So i know we have a full round of update just on the lockdown, different in new york than it is in london. Boris johnson saying that people
Open, wall street looks to close out a recordsetting week. Peacock joins the streaming wars, how comcasts forthcoming platform looks to separate itself from the streaming flock. Joining the four comma club, alphabet more than 1 trillion all together more than 17 of the s p 500. Stocks looking to hit new record highs upbeat news on the economy as Housing Starts rise in december to their highest level since 06 up 16. The and just to put that into perspective we are looking for an increase of 0. 4 amazing, and of course the commentary from tepper and druckenmiller over the past half hour has done a lot. Its fed in the same direction. Well pick apart if weather was a factor in the Housing Starts and the rest but that is when the equity futures took another leg higher when the numbers were reported comes after we got other good housing data its become very hard to decide that the headlines are going to get in the way of a market thats been on this autopilot higher the guys like david tepper