There was an endeavor to get to the city yesterday but we were landlocked yesterday, drove into the city under the trees. It was a little scarey we are back and it is nice to be here it feels like home good to have you back, andrew this is the situation that we probably havent given focus it deserves still millions without power 1. 4 million in new jersey without power. I know connecticut was hit worse. That storm even though a tropical storm, not a hurricane, stronger than anticipated. The wind event and damage significant. I appreciate it still trying to dig out from that today a lot of people that will be without power for days starting with the markets this morning. The nasdaq on another record six straight games it closed just below 11,000. Just north of 10,998 youll see this morning, us equity futures are not pushing above the 11,000 mark just yet six days in a row weve seen gains. This morning, indicated down by 20 points. The fourth day of gains for both the s p 500 and the dow
Its up 9 you think about the Digital Infrastructure for fitness, a time when its kind of hit or miss whether people can gather inn provides some of that not just in the bikes but in the apps spotify up almost 7 twilio, which provides payment and tracking services, data services, those apps up 7. Service now, amazon up considerably most of those stocks also up quite a bit over the past few day days youre right on peloton, wedbush puts them at 66 saying a blowout quarter is possible. Mark may joins us this morning to talk more about this. Mark, good to see you. Welcome. Thanks for having me back after a week when people wondered if this trade was still fresh, is today another reminder that its hard to keep this narrative down sentiment in the tech sector among investors varies depending on the time horizon especially now with earnings. Investors in general in tech are bullish. I know that for the most part Stifel Research analysts are bullish over the medium to longterm. There are differ
To get things started off. The dow is down by 17 points but the s p and the nasdaq is there. Nasdaq is indicated up by 47 points this is after a strong month of july for all three of the averages the dow up by 2. 4 for the month. The s p saw its best july by ten years. It was up by 5. 5 . Thats nothing compared to the nasdaq today is the first trade ding d of august. Thats out at 10 00 a. M. Eastern time today also take a look at treasury yields you did see yields under extreme pressure or ten year closing at its lowest level since all the way back to march 9th. Right now it is a little bit higher 0. 546 stimulus talks in congress. Trump administrations officials and House Speaker nancy pelosi are set to resume negotiations today on their competing visions of a bill. The Sticking Point continues to be a boost set at 600 per week in march that lapsed on friday he and Speaker Pelosi are on the same page about the need of direct Cash Payments of 1,200 to most americans. Andrew. And big co
And joe santoli. Joe and andrew are off today with the storm and everything going on, thank you for being here it was one nasty storm. It did a number when you think about businesses dealing with a lack of power, it is like the plague coming down well start this morning with the markets. Nasdaq with the fifth straight positive day up 22 for the year to date. Pretty good day for the dow and s p. S p indicated up close to 20 points the dow up close to 200 points and the nasdaq up as well. The treasury story has been incredible yesterday, the 10year note at a record low this morning, the yield is at. 526 it seems the context is the same, which is the dollar weaker you see that downward pressure foreign treasuries can buy our equity yield we have bond yields below inflation. That means huge tech stocks that means gold and bonds b. What are the implications for this market and the companion market corporate wise, you have earnings better than give uptype forecast analysts could have a good
Close today . You can take microsoft first, and whether its a referendum on tech itself . I think microsoft could be. I believe that one of the things we have accepted is a way from apple i listened to the great report on jamf, the new ipo from carl and jon. You have apple news that its doing very well, and that was, and then microsoft, and then we have this chasm before a lot of other companies. We feel that kind of covers everything microsoft does a lot of stayathome microsoft has the lawsuit filed against thoem against slack but most important, microsofts azure has been growing endlessly and fabulously a lot of people think faster than Microsoft Web services. If that continues, i think the stock goes higher. Pete, if this report comes in well, people will say thats why all that money had flown into tech to begin with thats why the mark is where it is if this number doesnt come up to snuff, people will say i told you, these stocks went too far too fast, and microsoft is case study nu