A gut punch for the tech sector. Apple is the latest to pull the inperson events. Its worldwide conference will and a red online only ashless society fear of the virus via the greenback. Well talk to the cofounder of square. Take a eantime, let us look at how wall street ended, this wild week. I have no words. Erased all of the losses that we had on yesterday, look at this, s p having its 20008 and tech really one of the big outperformers here followed by as you can see, 13 basis points. At one point it was above 1 96 basis about points. South of the border with volatility this week, it was all at one point, we had a 75 on the vix, coming down to 57. And crude, a supply and demand in there above 30 a barrel. That means a bloomberg commodity made up of a lot of energy, you are getting the weakest levels you have seen 2016. Since it is all about king dollar, the safe haven bids investors rushed and the bloomberg dollar index now the strongest in almost three years. That we sawet moves th
The dow gaining 188 points, nasdaq surging 2. 3 . This is an important snap back because it gives us a glimpse into the future. Lets start with the set up. If you listen to the wise men of the hedge fund energy, theyre telling you believers will be crushed. They loved the market a month ago. Many of their fears are legitimate they have trillions of dollars in debt. The Oil Companies alone owe hundreds of billions of dollars. They cant pay it back in crude. Airline is toast supply chain could cost 60 billion. The hedge funds i listen to, well, theyre warning of 25 unemployment thanks to the government mandated lockdown. Thats not a great recession, thats Great Depression with a c. You cant have a Restaurant Industry if youre an allowed to go to restaurants. Hotels sold to you malls, malls are bowling alleys. Actual bowling alleys, baby boomer storage lockers arcane dollar trades, ooh, really scary, devastating. And as Small Business finished time to break out the apple stands and the sa
Earlier losses closed at a record high. Thats kind of where our road map starts as it often does investors shrugging off Global Growth concerns. Stocks set to rally at the open. And records still within striking distance. Plus, broadcom eyeing symantec, my reporting added to bloomberg yesterday which broke the story. And mine. And jims give you more details. And pot shakeup, bruce linton out, telling cnbc he was fired from the Worlds Largest publicly traded cannabis company. Somewhat extraordinary. No. Wait. Having him on talking about being fired. Want him back all right lets talk about stocks. Looking to set a new milestone this morning s p 500 on track to open at an all time high. That would be the second time this week. Yesterday the index posted its seventh record close of the year take that, Global Growth concerns, take that, what did we get from edp this morning . Adp, 38,000 jobs less than expected created so what . So what i think melissa had some great commentary in last show
Up with been told go to college, get a job make a living. Frankly, thats just not realistic for a generation. It is really frustrating, the boomers think were lazy, you know the whole term pull up your boot straps and work hard, to get the same life they had . No, the world is very different these days the next pandemic in 2025 might wipe this all out anyway i have no time to wait for retirement youve got to will it into existence life just not fair, the world is a hot place, and the stock market which is the purest form of yolo. Short sellers continue to get hurt by wallstreetbets. Its making me sick. This is populism coming for capitalism through gamestop. On the surface i can be pretty scattered. In the water though its coming for me. Because youre seeing everything is quiet. You hear your bubbles, you hear breathing. And you just hear the water around you. I dont give a shit about risk. I was deployed to the middle east, we were doing antiterrorism force protection, so looking for
Battle. Unless they get some heating up i dont see it. The doubt only came 134 points. Nasdaq refused to play along. The dipping point of 7 . This market feels like a waiting game. Waiting until next wednesday when we get the biggest earner support of the entire year. This is starting to feel like that. I do not want to get ahead of myself so i know we go over to the game plan for next week . There is a man who is full of surprises. The incomparably competitive ceo of palo alto networks. He was not happy this last quarter. I dropped him to 266. That is a clubbing. Since then, its changed its mission and change strategy acquiring ibm cybersecurity business this past week. I am betting that this will be a better quarter than the previous one. Tuesdays got some huge quarters. Starting with macys which will be tony springs first full quarter as ceo. After being promoted from running bloomingdales. Now, can lowes put up good numbers . Home depot said doit yourself renovators are weak. There