On the walls check out my twitter feed. See all the ridiculous speculative names people hope ill mention or pump same deal, no earnings, but right on stocks. These are textbook signs of what we call froth. Thats what this is. Its froth and you know what . All the froth got crushed today. Dow plunging 517 points, s p plummeting 117 , nasdaq nose diving 1. 55 not bad for an amateur so whats become too riskier let me give you an example last night kind of cool. We had novavax on, hottest stock on the market. Vaccine developer working on something for covid19 the stock runs from 18 to 40 in two days i cant recommend Something Like that thats this, you know, novavax is this, okay. Good guys, but it doesnt matter it actually managed to rally today. Maybe novavax wins the vaccine rate if they dont, the stock is going to get eviscerated id rather have you in something thats diversified glaxo, pfizer, j j same for biotech stocks. Anything related to ebola, flu, except regeneron they have little
Sentiment. Energy stocks higher now for the second day in a row. Thats as oil jumps to its highest level in nearly a month. Back near 30 a barrel whats going on there . Plus, texas reopening. Maybe that has something to do with it. Texas reopening restaurants and Retail Stores over the past week well talk to one restaurantur who owns about ten restaurants in texas looking forward to that. Thanks stocks are on track for their worst in two months. Even as we take a peak at green, positive territory. If you take a look, tyler mentioned a 270 point decline for the dow industrials. We are hover, there you have it. A new fresh intraday high as the dow is up 32 points. Its not a lot but all three sectors in the green they were all in the red at one point so far today take a look at energy. We mentioned those oil prices. Remember, focus on technology. Were marginally in red territory. A volatile session for the bond market on this friday after a record drop in retail sales. Lets get to rick fo
Our Investment Committee today will debate it we are in the red for the s p and the dow. Were off the session lows like carl pointed out, it may have had something to do with the headlines coming out of the new york Governors Press conference where he mentioned a phased out idea starting this friday the dow industrials only down 140 points the s p down the nasdaq is tech stocks up half a percent 9165 the level there our Investment Committee are making some moves today. Steve, youre seeing a couple of things happening in your portfolio. What have the recent moves done whan and what are you trading in and out of im not trading out of much i did sell some peleton. It worked out tremendously well. Not quite a double but fairly close. I still have some left what ive done is and i did this on friday afternoon is i added to baba in expectation of disney opening in china because i thought that would lift the market ill reduce that position back to a core position i bought some out of the money
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
Good morning im dominic chu. We begin with breaking news and two biotech stocks surging ahead of the opening bell. First is gilead. Soaring here on report patients are responding well to one of its coronavirus treatments at a hospital in chicago. Those shares up by 13 premarket trade can you see over the course of the last 24 hours, a massive move for gilead. The second is moderna. They secure key funding for the development of a coronavirus vaccine. Those shares up 19 premarket we have more about those two stocks throughout the course of the morning. Now to the Broader Market this morning. Hopes around gilead, futures right now are surging. The dow would be implied around 600 points, the s p by about 64, nasdaq by about 140 points believe it or not, this is well off the highs of the session right now. Well continue to watch that lets check the etfs that track. You can see the dow etf, the diamond up about 3 . S p 500 etf, the spider, spy there up 2. 5 . And the qqq trust up about 2 th