Bounce back in the worth session in more than a month pete, i began with you he said the top of the market was on september 2nd, that the bubble has already popped. Were now in the midst of an enormous tech bubble ipo mania, extraordinary valuations and new metrics for valuation, the more fanciful an distant, it seeps the better the stocks performs. Is he right . Are we in the midst of an enormous text bubble, pete i think we are in the midst of certain sections of text that are definitely in a bubble right now, scott theres no doubt about that. We look at some of these names that have absolutely soared to the up side. We all know those names. Zoom would be the poster child you go across the board and say theyre in the right place at the right time but are they fairly priced or are they a little bit in that bubble area i think many of them are but right now, scott, its about growth and there has been growth and cash and last week we heard wre rick riether last friday and youre looking
Beijing praises the decision while President Trump says he is not a fan. A focusson says now on his cabinet lineup. And plans for structural reform. Are seeing a lot of investors sticking by the sidelines, a quiet session in the u. S. Overnight. Wall street hanging out to see what further guidance we get from the fed after their decision. A great chunk of investors will be waiting for more details as to the revamp inflation target. We are seeing futures trading flat. This after we saw u. S. Stocks rising. The s p seeing a Third Straight session of gains. For a change, we saw gains across tech, outweighing the decline we saw across financials. Treasury yields at the dollar end of the day, where they started. We are seeing the likes of the dollaryen holding steady, this as we look set to see the appointment of yoshida suda as the new japanese Prime Minister. As well as hearing more about whether we will see continuity across his cabinet appointments. We are watching at to see if another
Heavy military vehicles arrived at the Sonoma County fairgrounds where they will be based. They have been on orders, some of them continuously since early this year with covid. Reporter a third of the citizen soldiers have been a major fires before but all have been trained in camp roberts before coming here. They come none too soon. This is a much welcomed asset, a valuable asset and resource to us here locally. It will be good to get them to work right away. Reporter the cal fire truly needs this help. Obviously the season is already very busy and so we fill the gaps that cal fire doesnt have with resources for reporter these trips will have a very handson approach to provide a wide variety of critical functions, including write up on the fire line. Our mission here is to help the cal fire inside command gain the fire fermenters and how to allocate resources, callout evacuations and key people on the front safe. Reporter other units already at the fires for the last several months or
All that and so much more on making money. Charles it is another late summer session for the stock market. To the untrained eye looks a little indifferent, right . Perhaps an owed to the final lazy idyllic days of summer, you know what . By the way, before we have hectic fall but there is something going on. There are a lot of narratives. In fact history is being written and rewritten every day in these markets. The resolve in the face of the coronavirus. Uncertainty, resistance really for the Global Economy still partially locked down. It is amazing because the older stocks dale hi improving fundamentals but new crop of hot stocks, new hot stocks, in plain sight too good to be true which brings me to the stock of the day. Zoom, i think you heard of it, right . What could arguably be argued one of the best quarters in the history of business. The videoconferencing call Company Posted results that just annihilated wall street estimates. Revenue up 355 . Operating margin 42 from 14. Free
Like all week, the president also making an appearance on day three of the rnc. In the year 2020 the American People have had more then our share of challenges. Thankfully we have a president with the toughness, energy and resolve to see this through. Reporter wednesday night the rnc rolling on, Vice President mike pence giving his nomination acceptance speech at ft. Mchenry in baltimore, joined by his wife karen. And President Trump also making the trip before his big speech on thursday, also speaking, one of the president s longest advisers who will be leaving the white house at the end of the month. He picks the toughest fights and tackles them as complex problems. He has stood by me and he will stand up for you. Reporter as for democrats, Vice President ial candidate Kamala Harris will speak in washington, d. C. On thursday just before President Trumps rnc speech and fireworks show. They are honing in on the president s handling of the pandemic as the reason he should not have four