Yet thats exactly what just happened with the dow slipping just 143 points. The nasdaq backsliding a meager 0. 28 . Even though the price of crude spiked more than 10 gigantic, gigantic gain. How the heck is that even possible how could we have so many stocks that rallied on the news simple were a changed country. We have so much oil in this country and we have a lot of stocks that now do better with Higher Oil Prices and as well we have a lot of stocks that thrive if higher oil causes the economy to slow. The United States of today looks a lot different from the United States of even ten years ago first lets understand it looks like iran launched drone strikes that wiped out a huge chunk of saudi arabias Oil Infrastructure and theyre the biggest exporter in the world. That sent the price soaring, the biggest gain in 11 years and that translates into higher gasoline which means consumers have less money to spend on going out to shop. So we have it making per secretary sense. Theyve had
Job. Thats a big if, frankly the fed should be cutting. I would say they should say at a minimum 100 basis points. Over a period of time. Not at one time but over a period of time well, im not talking about doing anything at this moment, but indexing is something that a lot of people have liked for a long time. And its something that would be very easy to do. A lot of people have been talking about indexing for many years. And its something that i am certainly thinking about i can say a majority of people they like indexing its something im thinking about. Payroll taxes ive been thinking about payroll taxes for a long time whether or not we do it now or not is its not being done because of recession were legitimately, if we had a cut in Interest Rates by the fed, if they would do their job properly and do a meaningful cut, because they raised toovz, you would see growth like youve never seen in this country if you go from the election, the great november 8th day, if you go from novembe
Everybody else is worrying about. The flip side of this is true. There is no point in getting excited about something that everybody else is eagerly anticipating why . Because when the vast majority of investors agree something will happen, that thing tends to be already priced into the stock market while the real economy moves at its own sedated pace, you got to borrow money for equipment and goods and transport them to retail outlets and wait for the customer to come along and buy them the stock market has no such limitations. Stocks dont travel at the speed of light how about the speed of thought they come pretty close the moment of preponderance of hedge fund and mutual fund decide the economy is speeding up or flat lining stocks start trading like thats instantaneo instantaneously. Once the big institutional Portfolio Managers are on the same page about something, they can be confident its baked into the averages when i say insptantaneously, i dont have a ton of use for economists
Allowed Legal Marijuana to flourish a number of pot stocks losing their buzz big time. What now for this budding multibillion dollar business power lunch starts right now your love is lifting me higher than ive ever been lifted before well, the weather on wall street may be frightful, but inside the exchanges it is nothing short of delightful. Welcome, everybody, to power lunch. Im Tyler Mathisen another historic day for your money. The hits keep look at this chart, will you . Look at that oneyear gains, 25, almost 26 25,000 now on the dow for the first time ever. Want to know what it was back on the, the day of the crash in october of 1987 . It was about 1,700 think of the gains, the money made since then. Financials, goldman, jpmorgan, American Express, powering the dows tripledigit gains at this hour not just by the way the dow. Nasdaq and s p 500 also new record intraday highs today. Small caps, they came along for the ride russell 2000, intraday, alltime high retailers zumiez help
Heres another factor. The all important Big Tech Companies announced their Financial Performance in the next two days. Theres a few nerves here. Any disappointment would upset the whole a the cart. We should also say that the market is due for a setback after 15 month near straight up rally. Well thats money. Now politics. Tonight, the state of the union speech. The as the is cleared his schedule today to prepare hes likely to sell his growth plan and maybe reach out for a bipartisan immigration deal. And heres the news that is truly rocking the world of politics. The memo, spelling out reportedly deep state goings on before and after the election. We may get to see it. The fbi director read it and promptly got rids are of Andrew Mccabe fbi guy at the center of the memo. Money and politics, what a day. Varney company is about to begin. Have we got a big deal to report right off the bat . And it is moving the whole market. Amazon Berkshire Jpmorgan they are teaming up to create a new co