Ideally, we keep everything closed until the federal government massively ramps up its testing and Contact Tracing capacity that would be my preferred outcome. But what if were waiting for nothing . Ive got to tell you without more aggressive action from the federal government, we may have no choice but to reopen as the economy spirals into a depression what does reopening the economy even mean, though . The market is one reason the dow slipped 457 points today nasdaq was down 2. 6 theyre waiting for any direction from the government, the federal government aside from a handful of people who have the situation figured out. I have been pounding the table its mad money, not mad depression ive been pounding the table on amazon for months because it has convenience, scale and low price to take over the market. I think walmart stock, too cheap. Given that its got a big Digital Business with 4,769 warehouses along with the brick and Mortar Stores that serve as warehouses, of course. Fabulous
Should dow gaining 22 points. S p advancing 1 nasdaq 1. 2 the truth is there is a lot of rot underneath and many investors are in denial about how bad things can be for some of the weaker players out there. The ones actually involved with the economy, the ones that dont have bullet proof Balance Sheets consider this weekend Warren Buffett presided over a somber annual meeting instead of festive investing. We had an older gentleman with brilliant answers followed by questions with becky quick tell you to stick with it. This time he wasnt bullish by any stretch of the imagination last week i told you it was time to start doing some selling. I still think thats the right call without a big bounce in the bottom the Charitable Trust was selling heavily at the end of the week go to actionalerts. Com Conference Call this thursday. I have to defend losers tyson foods which we bought for the trust when the trade war with china ended because they had a pork shortage. I always say its better to b
Wall street is poised for a higher open. The historic impeachment of President Trump. Secretary mnuchin will join us exclusively in the next hour. We will discuss the postimpeachment economic agenda between now and the election the house readying that vote on the usmca, an important trade agreement. Plus, chips are continuing to outperform the rally the ceo will join us in squawk ali and iac is spinning off an online match group, all of it, shares are climbing ahead of bell now you, we begin, of course, with the market, one day after the impeachment of the president. Its an interesting evening. Yeah, it was. You know, david, this is the beginning of an under performance period if we find if we analogize to clinton. The only difference is that there were democrats who joined republicans in the impeachment process because they thought it was a cut and dry violation the lying about the section act. It was one count of perjury about lying about the sex act. You said there was a little more
Cautious, they will move out of less liquid risk assets such as oil first. We are seeing it here for the official correction in seven days for oil. As for that ism print and why investors may be so concerned that could be bearish for stocks and they selling stocks are rapidly, take a look at this chart in the bloomberg going back five years. In blue, the s p 500, the eisai manufacturing. We are seeing it as the weakest since 2016. Stocks levitating toward those alltime highs. Not able to move past. Take a look at manufacturing. The lowest level in 10 years. Investors may think there is going to be a meeting between these lines, which could be bearish for stocks. Some investors betting on the idea of 2700. All sectors and most stocks are joining in. Lets take a look at some of the biggest laggards on the day. We will see apple, alphabetic, highquality names being sold off. Also the materials and industrial space. Confirming all of this, and is for haven bonds. For haven bonds. The yenyi
A bearing on down ballot racing especially the senate races where think they have a golden opportunity to gain control of the you were chamber of commerce. For this we turn to john i want to start you out by showing what the real clear politics average is showing in the state of New Hampshire where an thats one of the states where there is incumbent republican senator running. That shows thats the president ial preference. Were looking for the senate race. There it is. Kelly ayotte incumbent republican. She is leading maggie hess on the democratic governor obviously running for the senate this time by a cup perform points. How does this race hook to you. This someone of the races where the republican senator has had an awkward relationship with donald trump. At first she said she was goings to support him but not endorse him. At a debate she stumbled over her relationship in terms of the depth of her support for donald trump. After the videos came out she said she cant support donald t