In protests as the City Council Votes to defund and cut more than 100 officers from the force. We have the latest, plus uprisings in portland and chicago. Markets meantime pointing gains at the open, 279point gain on dow futures. Gains across the board this after mixed performance yesterday. Look at the blue chips go. The nasdaq finishing in the red after a week showing in the tech sector money peeling out of the stocks but the dow gaining more than 1 . 357 points. Protecting your data, flaws and snap dragonship putting 1 billion android phones at risk from a hack attack. Looks to connect all of your Smart Devices to one another. Vaccine risk. Vladimir putin says his country has a vaccine but here at home the epidemic can affect the effectiveness. Checking the world and stock market action, european markets are up across the board. We have gains north of 2 in england, france and germany. In the uk another 81,000 people lost their jobs last month. That number was slightly better than wh
Kelly, so remember last week we were talking about how value was outperforming growth last week that lasted exactly one week today were back at the old pattern and its basically growth and technology virtually over Everything Else theres the dow flattish on the day, but s p 500 still trying to get over that 3032 hump not easy to do, but tech overplaying, the investments, the bank stocks all did very well last week theyre a little lower today amazon had an awful week, down 8 last week guess what, its regained a good part of that loss today. Alphabet, apple and facebook all on the up side the trend is were back where we were the work from home stuff tends to do very well. This happened since that june 8 high we hit, so the pelotons and zoom videos of the world doing very well. What we call the reopening stocks, the travel and leisure stocks, are not doing very well, and we saw this last week fairly consistently for a while earnings, were about 10 through earnings season. We have about 10
Somebody to sell if you go back to our march survey, what we saw was that the level of bullishness on the stock market was one of the highest readings we had in the history of our survey. That told us things were scary in terms of fundamentalings and news flow. They sort of knew inherently this was that point in time was the right time to buy the market they stepped in to help contribute to the rally. Now what we see its not that everybody is bearish the bearishness is starting to pick up where where we were last quarter and the bulls have fallen down sharply. Now, what is extremely in our survey is the percent who say valuations are expensive and that hit a new survey high whats that telling me as the tape weakens here, the news flow deteriorat deteriorates im talking to Institutional Investors that are not inclined to support this market the way they were in march i take it as a bearish read. Less about the level and shift in sentiment were starting to see and the reasons for the shi
Get started here this morning. Look, i think that we are actually experiencing something that we havent lately which is that the analysts are almost entirely positive, and yet there is an underlying current both from the unemployment claims, which they are never going to be good until we get a vaccine. And also a general on wee that we dont have it under control, there i am talking about covid19 so why own anything . I think that thats an incorrect view there were many many piece this is morning that talk about what i can only say i am going to borrow a term from larry kudlow, green shoouts. There is much thats good in the economy. It is just not where we thought it was going to be, david. It is not all encompassing, but there are some areas that are very strong. All right so go over those and explain to me why they are not what we thought they would be. I think we thought travel and leisure would come back. That cruiseships would come back, that there would be Corporate Travel only on
May including everything from Student Loans to car payments to mortgages, the number more than triple that of april its the latest sign Unemployment Benefits and stimulus checks arent enough to fully cover the expenses what happens to the consumer and the economy and the stock market its not good its something weve alluded to for a while. Go and look at wells fargos First Quarter they reported in the middle of april. They took a 14 billion loan loss provision which was up 413 year over year by the way, when they report i think in the middle of july, that number is probably going to go up again and further anecd e anecdotal proof that wells fargo is trading below tangible book value. The banks have been trying to tell the story, but the Broader Market has sort of been impervious to it until recently. Well see. Again, ill say i am not all that optimistic about where the consumer is 69 months from now. Clearly i hope im wrong but behind closed doors, a lot of companies are saying weve lea