Because of it. And the retail divide continues. Walgreens and Bed Bath Beyond getting crushed today following weak sales updates and the staples names like walmart and costco are higher. The s p 500, were 59 minutes left of trade. Its not there the nasdaq is up 0. 6 . The s p 500 is a little bit lower. Just a few moments, well speak with alpha one capital dan niles about the market selloff why tech in particular has been outperforming and what to do now. Plus, former treasury secretary jack lew will be with us to weigh in on joe bidens economic plan and work from home winner service now, it is up 50 on the year Just Announced a new partnership with zoom. Bill mcdermott will be live to discuss. Another very strong day for the cloud names. Lets get straight toour big story of the day the market selloff mike santoli is tracking the action all day long which does appear a bit better in terms of the losses, mike yeah. This was a day when we sold the rip in the morning and then bought the di
Points and the s p is relatively flat weve been watching what is happening in the treasury market and we take a look now, well see the 10year yield, at this point, seems to be sitting at 0. 655 andrew, over to you. Just out in the last half hour, the Biden Campaign releasing a new jobs plan. Kayla joins us with more its 700 billion, kayla yes it is stemming from a 110page policy document that is essentially emerging of the left and moderate ring priorities inside the Democratic Party. It was produced. I the Campaign Said it will create millions of goodpaying jobs and reinforces some policy commitments as well as jot lining new programs that a Democratic Administration would push for including a 15 federal minimum wage, mandate for 12 weeks paid family leave, universal prek for 3 and 4yearolds and payment platforms for lowincome americans run by the federal reserve. Democrats say a Public Credit Reporting Agency is needed to provide transparent alternatives to the private sector. There
You were just talking about times when its okay to sell if youve had gains on some of these big cap tech names. Yeah, im not advocating that this is a get out now moment, i just think that we have had such a good run, there was something that came out on the screen this morning that we are having the best quarter since the Fourth Quarter of 1999 and i just cant be, oh, well, so what, when was that that was a seminole top. Theres been some fantastic runs and i think that sometimes we forget why we own stocks we own stocks to create wealth there was a gentleman on just now, mr. Bailin and he said so many good points, he agrees with me on selling some of the ones that have really moved he would like to rotate into the stocks that havent moved yet. What i am saying is there is no sense for a lot of our investors who watch to rotate into something that hasnt moved when they can just sit and wait with some cash, which is cash has been so vilified and i think that i am not coming in early lik
In march and april. Yeah, and, you know, the market if you want to talk about it being the index certainly is doing that its been steady naturally the most heavily weighted stocks also happen to be the ones that are in th strongest trends they are covering up for a lot of, i think, softness under the surface. Youre not seeing this latest push higher really have the participation of the airlines and all the kind of socalled epicenter sectors that now are under a little more question about a stutter step in the reopening process. I do think the market is trying to be rational about it. Its unclear what would stop these trends, why would apple and microsoft stop going up today when they havent stopped until now except the fact that the nasdaq does look really stretched once again compared to the rest of the market there does seem to be a little bit of frothy speculation happening in some pockets of this market but thats been the case periodically for the last several weeks i guess you wou
Again. Microsoft, amazon all hitting record highs the nasdaq flirting with another record close despite the Broader Markets selling off. 59 minutes left of the session sar yash sara, were down. 5 . We have big guests coming your way well be speaking with Loretta Mester about the economic signs she is seeing in america and how the fed is weighing the spike in cases. And the rollback of the reopening measures across this country. Shes a Voting Member of the fed. Plus, 150 million, that is how much Deutsche Bank agreed to pay in the settlement with regulators over the dealings with Jeffrey Epstein Deutsche Banks ceo will join us to talk about that settlement and a whole lot more an important update on the business lets get straight to the big stories were watching with one hour left of trade mike santoli tracking the market meg terrell has details on a 1. 6 billion as part of the operation warp speed effort to battle the coronavirus and get a vaccine. And phil lebeau has the latest on the