Second week in a row that its starting out just in the right way. Yeah. I think theres people who just feel that this great shutdown is over obviously its worldwide the spending will begin again. I keep hearing that theres a surprising number of survivors that its not as bad as we thought. With the exception of some mortgages and some credit card, the forbearance wont really reverberate through the system reverberates to the banks. I know theres people who want to try to get the banks going. I say stick with whats working. I know its boring i know people want to rotate its something that Portfolio Managers love to do. I dont like to rotate into any stocks that have numbers cut thats really important. Im looking at david faber, who looks, of course, fabulous im thinking about him because its the credit markets we have to worry about, not the stocks they look great. Whats your concern in the credit market specifically, jim . Like hertz. Its not like theyre nothing. Hertz owns a lot of ca
Held saniel meeting this week and Member States adopted a resolution to launch a probe into the Global Response to the cole the 19 pandemic i guess china doesnt like this what he expects from that thats a great question larry because the World Health Organization itself is going to have 6 outlines of this impartial independent review now this was voted upon and approved by a 144 countries china didnt object but we do know that from chinese leaders sieging things speech to the World Health Assembly this is not the investigation that he wanted so i think that theres going to be a lot of behind the scenes scrambling between china on the one side and the rest of the world on the other as to the scope of this review or do you think china doll why doesnt china or is it care if they have to if theyre in their right. Thats. Actually i think china believes that there is something to hide because we know that from december all the way through february to beijing took a lot of moves that were int
Today in some of the comments out of retailers like burlington, anf, dollar tree, and Dollar General yes, if you look at the Dollar General, the numbers are just extraordinary i actually have never seen a Comp Store Sales number this good 21 versus 7 estimate. Dollar tree is going to be the one, david knows this well, people look like, you know what, now the dollar tree Family Dollar merger which had been so on the rocks, the judgment is its working and that stock could power much higher. Dollar tree. The opening trade is sapping the money out of tech. I dont know how much longer it can last thats such a great book in gary because he knows so much about what people are spending theyre essential because they have food, and i look at this market and i think how long with the dow up 4 can we actually say, hey, the reopening trade is just starting . Its already maybe too far too fast its very hard to figure, particularly because faang is being distorted by the president s tweets, facebook
Benefits, is this the fabled v shape recovery that so many people were hoping for well, thats what the markets saying even as the average didnt do much, dow inching up 12 points, s p climbed 3. 4 , nasdaq losing 6. 4 see, thats the problem. I think were looking at a vshaped recovery, but its a vshaped recovery in the stock market and that has almost nothing to do with the vshaped recovery in the economy. Prosper when you look at the nasdaq 100, the tech heavy index that hit an alltime high today, it doesnt seem indicative of the broader jobs picture airlines and hotels and casinos put in the less bad catery, less bad a than we thought, a trend that could last people do fast gaming. It does peter out. Its musical chairs. How can the market rebound without the economy . Because the market doesnt represent the economy. It represents the future of big business the bigger the business, the more it moves the averages and that matters because this is the first recession where big business alo
On his tweets. A feel good story i cannot wait to talk about. The ceo who is putting veterans back to work. All that and so much more on making money. Charles stocks in the green. Investors digest positive earnings reports. Economic data continues to be positive. You know this week weve been focusing on a couple themes, right . Investment rotation, major breakouts how i think wall street is pricing stock market were learning to live and prosper while coexisting with the virus. Where do we go from here . We want to bring in phil blancato. Your assessment with were seeing in this market. I think we have rotation going on. Cyclical stocks, value names but the break out has been impressive. It has. Were only down 4. 25 on the year. Incredible to see how far weve come. Youre seeing most undervalued names, those left behind bounce back, particularly the banks. Theyre having a difficult year. Im less excited about materials and industrials but that is it an area of the market that is showing