Nasdaq edged down. 26 , the star of the show was the Dow Jones Industrial average, which briefly crossed above 40,000. Hallelujah before pulling back a bit and closing down 39 points. Still, thats a huge leap from where we arrived at dow 30,000 back in november of 2020. So you know what . I think its worth exploring what stocks got us here and why. During this period weve constantly been told that tech is the market leader. But when i look at the top ten stocks up the most during dows trip from 30,000 to 40,000 very surprising group. Only two of them from tech. We also were told Interest Rates is all that matters but thats played a smaller role than expected too. Only the tenth stock really impacted. Instead its an odd grouping where the main thing these companies have in common is very strong exceptional management. Lets run them down so we can learn what the market really wants here. I need you to think about this even though we didnt close above 40,000, this is what matters. First i
Australia. We are counting down to asias major market opens. Im annabelle. Investors keeping their powder dry with some warning of stock swings. Janet yellen admits china may retaliate against Biden Administration tariffs increases. And the albanese government announcing australias second Budget Surplus without stoking in laois and. Heidi given all the threats we are seeing sydney futures muted. A worried session on wall street will way on what the fed does and other central banks. Headwinds are building and the risk of threats on china and retaliation. Certainly not a great deal of risk appetite. Kiwi stocks looking softer, k futures Looking Glass of not making too much of a move. Its near the top of developed markets, it is what can they do a costofliving crisis. It will flesh out further expectations or hopes of race cuts. Haidi thats right, speaking with economists about the need for fiscal prudence but here is the outlook for futures online, reflects intraday caution and equities,
We are under 30 minutes away from the end of the monday session. Stocks are rising shrugging off the news out of germany today that Coalition Talks have collapsed. Investors overlooking that. They think the German Economy will continue to perform. On euro was lower by. 6 news of the collapse of talks in asian trading. It then rose by the fifth of 1 . Other options include a minority government option gauges pointing to a longlasting effect of the german news. We are seeing yields declined today. Commodities and cdf. Crude hit a record and futures highs in theyear last couple of weeks. Hedge funds are pulling back with the sense that the rally has reached its limit. Middle east tensions taking a uncertainty looming over saudi arabias choice to extend opec production cuts. Just below 540,000 contracts in the weekend of november. The swissuro enabling bank to exceed its target for growth in new money for the first 10 months of the year. 17 ts under management rose at 393 billion swiss fra
Blockchain is shaking things up at oldschool giants. Inis now creating new life the stalwarts like ibm and oracle. Betty david, bitcoin was up, apple down, right . You saw some of that in asia yesterday, the apple suppliers getting hit on speculation about the numbers coming in far short of forecasts, in fact to 10 million shorter than what some analysts had predicted. I want to pull up a chart that you are familiar with. This is a 254. It shows you the Revenue Breakdown 8254. It shows you the Revenue Breakdown by segment and shows you how important the iphone revenue is to apple, but that decline we have seen a bit worrisome. This replenishment cycle really going to turn out to be the way apple believes it will be with the iphone x come or is 1000 the breaking point . David that is a lot of money for a handset. Betty yeah. David you look at these numbers and forecasts, you mentioned 10 million short. Coming out, may be shipping 35 million handsets in the First Quarter, still a big num
Pretty good ones. We had sarah battle earlier this year, john hodgman, last semester, these three great stuff planned for next semester already. Also, tonights forum is being filled by cspan so during the question part of the forum if you would go up to one of the microphones and also, hopefully state your name in your question another reason we ask you to state your name is because we then do a write up of all the forum afterward which you will be able to read a couple of days after the event on a website which is [inaudible] in the last announcement is that this event tonight is cosponsored by radius which is another group here at mit. I am thrilled to be able to introduce these three it is a different three than we initially thought would be here because just called me up a little past five because his daughter was puking as the father of gms kids myself i said stay home and fortunately chris couch who writes a lot about technology is a brilliant journalist in their own right and ha