Donald trump calling for an investigation into chinas import taxes just moments ago on cnbc. Also, Bernie Sanders saying hes proud Goldman Sachs thinks hes dangerous for wall street. And what jack dorsey says about investors lack of confidence in squares stock right now and why hes not worried about the short sellers. But well start with the markets. We mentioned draghi expanding their qe program to 80 billion euros a month, consulting the refi rate, cutting the marginal lending rate, the deposit rate, adding, jim that risks to growth remain on the down side and trimming their gdp forecast. What can i say, hes got the Bank Stocks Going i mean, if they wanted to, they could issue equity. We all know that worked here. The liquidity hes throwing at this is amazing. This guy, sum total, dollar going higher. So, i know everyones very excited. I know our futures are up big. When will people realize that these are not necessarily positive for us . Now, i had a ceo on last night, europe was ve
Biotech is down 3 . A lot of this is politics and the unknown there but also these stocks were super, super great performers over the last five, six, or seven years and i still think theyre pretty overowned so i think that you can actually, based on the bull packs, i think you can start to look at some of the bio techs and i do still think you juan to find special situation stories. Either new management teams or companies that have gotten hit really hard from currency so im kind of looking at Something Like an abbott labs. A back administer. At a United Health care im not in a rush to buy the bio techs until we get more clarity these are the poster children for the move from growth into value. It condition be all about politics. Yes, Hillary Clintons tweets may have started the clyde but it cannot be all about politics as to why these stocks cant do anything. Right. Well, its what happened with valeant and having it go from a 30 billion stock at the beginning of the week to 9 billion.
The last few years, as you know. Is value back . Its hard to say whether its back yet. I mean, its been probably three weeks where the value has started to reassert itself. But after five years of underperformance of value versus growth, the spreads in valuation are at provocative levels. Cheap stocks are as cheap as they get. Expensive stocks are reasonably expensive. And that spread has widened to the point where in the past, if you tried to capitalize on it, you would have been really wellregarded. Josh, yeartodate, value outperforming growth from the february 11th bottom, which, by the way, we mark the onemonth anniversary of today. Energy is up 12 , industrials up 10 . Financials are up up 13 . Is this the start of a broader trend . Well, i think if it if the trend of growth substantially outperforming value continues for much longer than it already has, it would be an almost unprecedented length of time through history. So to some extent, just on a mean reversion basis, you think
Gains of lows. Overnight in asia, we can look at how those markets responded. Japans nikkei up about 0. 75. The yen has strengthened for several sessions in a row. The shanghai composite giving up three quarters of 1 . European markets are closed for easter monday. The tenyear note yield, watching that for a gauge on growth and inflation. 1. 9 is what were talking about this morning. Crude interestingly, a bit on the rebound, both brent and wti, still up less than 1 . Brent is above the 40 mark. Our road map starts with the last week of the quarter. The dow and s p hugging the flat line for the year. Where will we go from here . Bernie sanders gaining momentum over the weekend and the candidates are descending on wisconsin ahead of the april 5th primary. And microsoft throwing its hat in the ring for yahoo . Well look at potential deals that could take yahoo off the market. We begin with 72 dead and hundreds injured after yesterdays suicide bombing in pakistan. The christians were cele
That debate begins now. Dr. J, at 1 06, is apple a buy or sell . Still a bigger buy than a sell at 106. It rarely does with these announcements. I dont know that theres anything that jon fortt has said thats really that earthshaking about this particular announcement. The big one, of course, is going to be in the fall with the iphone 7. Nonetheless, people that were late to this one instead of buying at 134 bucks a share or 138, still right around 106, 107. I think thats a reasonable do, not quite as good as it was a month ago. Well break away for two seconds for breaking news. To eric chemi regarding fan dual and draft kings. Thats right, scott. Actually an agreement came out just now between the new york Generals Office and draft kings and fan dual where the two companies will not operate in new york state any more. Obviously, this is a big story a year ago. Both companies valued over 1 billion but have seen fees pile up. They decided to make an agreement to not continue fighting for