In that is the big question with the average. S p climbing. Its not an easy one to answer. I think holy cow. What the heck are we doing up here however, it is just an inflection. I think there could be much more upside. I dont want you to leave thinking otherwise. I would start with washington. A few months ago it sounded inconceivable that we can get tax reform. Republicans in congress seemed to be in total disarray. Its not like that campaign on slashing Corporate Taxes. We interview legislators and they have a plan to raise revenues in order to avoid busting the budget. Remember the border tax thing . They were reluctant to cut Corporate Tax rate because it would leave a huge hole. There was no way any democrats were going to get on board. It seemed like a colossal waste of time. Somehow perhaps because of the president s endless harping, perhaps because they realize they can suffer hideous losses, the gop was able to cobble together a plan that is incredibly pro business plus the R
Equal. Some a whole lot more equal than others the dow gaining six points, s p rising. 1 , nasdaq climbing 1. 15 , falls into the more equal category before i go into this let me explain what makes for a good and bad rally. There are some thing as bad rally. I like a rally that involves the financials, specifically the banks. Since that implies the economy is healthy a bank rally is as solid when bank stocks do well that means theres more credit being lent and employments healther Small Businesses feel confident. Big commercial real estate projects that will put a lot more people to work are getting done the government will get more mergers so it will be good news for the investment banks in short with the bank stock rally its a sign stability and prosperity can be on a rise. Yes, i smile when jp hit an alltime high or when bank of america jumps if this session. Ive studied ballots for 35 years and never seen a bad one thats led by the banks. Strengthen financials is a precursor to ber
Cramer will you look at this market stock reports come out and say stocks with crash if the white house cant pass healthcare. Nasdaq climbing 1. 1 the question remains is secretary mnuchin right that this will go on the passing of healthcare the truth is tax reform the truth is not many believe a toks reform is coming. Yes, theyve lost faith. Congress thinks its more important than it really is, even the biggest pieces of legislation tend to only affect one particular sector. Like how the Health Insurance got a bunch of sweeteners from the care act they were the winners under obama and their now winning under president trump. Buy some United Health that made a opportunity of money democrats want to subsidize the Health Insurancers its a winwin for everybody except for you my real point here is that obamacare was the single most transformative piece of legislation and some didnt have the agate impact which brings me back to tax reform, i think its a good idea if it passes it wont be rev
How do you say game changer . How do you say disruption . How do you say brandnew world house of pleasure ill tell you how to say it, amazon buying whole foods for 18 billion. S p inched up. 02 and the nasdaq declined. 22 . This is a day that will live in infamy for everyone in many country. I dont care if youre kroger or walmart or costco or supervalue, this purchase, it changes everything thats because amazon which struggled with food, mightily, has found the trojan horse in the supermarket industry and its achilles heel all at once its averitable homer or home run, judging by the way amazon stock rallied today. I do not think people realize how big this is. Amazons like a modern mechanized army, rolling over the opposition, just like tanks rolled over the trenches in world war 12 in one fell swoop, it will do to the supermarket industry what has already done to the mall how do you compete against a nonunionized company that knows exactly what its customers want. A company that can a
Many of them sure seemed to have developed some pep in their step today. A day where the dow gained 26 points, ninth Straight Record high s p advanced 1. 6 , first record close since july 26. And the nasdaq climbed 0. 51 [ applause ] for the past couple of weeks, the dow jones average has captivated people throughout the country as it lunged through 22,000 level like it was childs play at the same time, the Growth Technology stocks, like f. A. N. G. , have been under pressure, with lot theorizing its game forever author these allegedly overvalued companies of course, the tech bears are not all that original. Boo the narrative for this decline is always the same when the has dnasdaq peaked in h of 2000, lots of money flowed out of tech. All of the same old school stocks that people revert to when the tide goes out and the hyper Growth Stocks are revealed to be frothy and expensive but i love historical analogies as much as the next guy, im always trying to find patterns but history does