Here lea lets debate that today. Good to see everybody. Lets take you right to the boards and show you where we are trading. The dow is at 23 about 300 point gain S P Still Holding on the a 1 gain as is the nasdaq. Theres a russell at the far right hand side of your screen up just about 2 all right, jim, youre holding onto this cash we have come a long way from the bottom s p is up 26 . Nasdaq up 25 take stock of where we are and where you thip we may nk we may here taking stock of where we are, the price market has priced in var shaped recovery in economy and profits. That shows that 2021 earnings, they are looking for the best ever i disagree with that i think you will see a recovery in 2021 but not a v shaped recovery, a u shaped recovery. As the stock market comes to grips with that, im still preaching caution and patience i see the move today and yesterday. I have the 12 cash. I feel a bit uneasy about it i got to say i expect more bad news on the virus, on the Economic Impact and
To address the economic fall out from this and what the fed is looking forward to more greatly address the mainstream issues here the fed is focused on trying to get trade going smoothly markets functioning smoothly especially in the treasury and fixed income markets but bringing rate dous down to try o help where it can. Theres very little Economic Activity lower rates will not be of tremendous help. The best the fed can do is try to make markets function more smoothly what the white house can do, what the fiscal side can do is address more in a detailed way, in a more pinpointed way the economic pain that individual industries and individual workers will feel. All right well be looking for those, the targeted and targeted measures this afternoon thanks thats going to do it for us lets get to the judge in the half thank you. Welcome to the Halftime Report so good to have you with us today. Were trying to make sense of all of this. Our show will look differently in the days ahead. Our
If you are looking for leadership in the market, you are going to find it in real estate. That is not necessarily encouraging. Secondbest performing sector is consumer discretionary. This is typical this time of year. You see a lot of retailers being bid up ahead of the black friday shopping season. You are also seeing a lot of the big retailers and apparel makers getting bids higher here. Then we take a look at treasuries. Third straight day weve seen a bid going back into treasuries. A lot of this is actually a little more on the short end of the curve. Seeing a lot more bids in the twoyear space rather than the 10. That is creating steepening, but still, the flattening over the past six or seven weeks still pretty dramatic. Gold rebounding off its lows for the day. It had been down. A lot of bearish notes coming out saying that the gold rally may finally have run out of steam. We got some data out of china showing purchases there, imports into the country have fallen. We also had so
New york stock exchange. The u. S. china trade war taking a bite out of apple, now on pace for the worst day in over a week as the white houses 15 tariff on a new batch of goods goes into effect over the weekend obviously, a big story for the markets. Apple products expected to be hit this time around include the apple watch, air pods, the home pod, imax, and some beat headphones for more on where the stock may go from here, were joined by an apple bear, Pierre Ferragu has a sell on the stock, a 170 target. Also with us, apple bull, daniel flax, whose target is, daniel . Carl, i cant give you a specific target, but what i can say is that while the nearterm environment certainly remains sluggish with iphone and clearly theres a risk in terms of higher prices from tariffs impacting demand, we see a lot that we like over the medium term and i say that because the iphone install base is continuing to grow the company has opportunities to show additional growth with Newer Services like tv a
Technology, where teeing off of last week where we saw this big rise in yield. The nasdaq down 1 , s p down a third of 1 . I would also just throw in oil, which is making new highs for the year, despite concerns about weakness in china, about potential weakness in the United States oil just marching higher this morning, which is raising some questions about inflation tomorrow and just how sticky its going to remain in the months to come as the fed tries to fight it. Got to 8411 this morning, that is a fresh high gnat gas, the high since march as were once again worried about the situation in europe and whether or not that will drive prices even further going into the winter months plenty to worry about topping the tape this morning, the s p 500s round trip, now flat in price. Eps dating back to january of 2022, yet rates are up, gdp is higher rates have cooled. What does it all add up to mike santoli here to break it down this is such a mike santoli kind of story the fact that weve gon