The last few moments on this headline from larry kudlow, the president s top economic adviser saying that the president now wants to do a deal on stimulus lets go to washington and get filled in a little more. Scott, the president tweeted on the state of the discussions over another Coronavirus Relief package. He said that the negotiations are moving along he encourages the negotiators to go big this as you mentioned white house economic adviser larry kudlow saying that there has been a plan that president signed off on. It is relatively broad based now what we know is that House Speaker nancy pelosi and the treasury secretary are supposed to talk again sometime this afternoon. They had been in almost Constant Contact almost daily contact and we know that president said he is willing to go beyond ppp, direct checks and aid to the air Monica Lewinsky and do something bigger exactly how big . Thats what the negotiators will be talking about, im sure, during the phone call later on today.
Tens of billions of dollars. You said thats it thats the top of tech the nasdaq was 4400 that week uber High Valuation Companies and use that as your justification to reposition your portfolio. Im not fan of it. Doesnt really work. It makes for better tv than it does for portfolio you dont take a step back and say its 100 times sales this thing has an incredible first day and you dont take a pause. Its not the whole landscape and say i dont think this is good weve seen a million kpaemexs of this. Its not in the s p 500. Investors dont own this in their 401 k its not an important stock. Its a great stock to watch fp lets address it in those terms. Now the stock is getting crowbared. Kramer makes a point. We have this tweet he had on nvidia as well and zoom. It underscores, if you will, i think, very well the landscape and what may be a pull back in some of these loved names especially over the last few months for what its worth, i dont know what octa does. I think that is indicative too
The backdrop continues to be the coronavirus. New york city finally gets a chance to reopen today. I am waiting to hear the construction outside of my apartment. It has been three months under that stayathome order in new york. A live shot of Herald Square and the area around the empire state building. Construction, add, manufacturing, wholesale trade, and Retail Stores can offer curbside or instore pickup. A former new york state Lieutenant Governor and current member of mayor bill de blasios Fair Recovery Task force. There is really no other person. E really want to talk to today this comes in contrast to the protests we saw. How did the protests affect phase one of reopening . Dick one cannot be certain. I think the Biggest Issue is the revenue loss that the city will suffer as a result of sales taxes and property taxes and income taxes. Its impossible to measure but it is way beyond the capacity fiscally of the city or state to make up for that lost revenue. A function ofs how many
Facebook premarket, zooming after a big gain yesterday. Its Financial Report suggested some stability returning to the advertising market. Facebook getting 98 of its revenue from ads. This company is a truly global platform. Over 1. 7 billion daily users. Stocks up another 6 this morning after a gain yesterday. Look at microsoft. Big gain yesterday, modest gain this morning. Its close to its alltime high. It says the virus had little impact on its business. Up 1 , microsoft, this morning. Its true to say these trillion Dollar Tech Companies are again pulling in a big chunk of investors money. One more for you. Tesla. Yep, another big gain. Elon musk is furious at the california authorities for keeping his fremont plant closed. He calls them fascists. More on that in a moment. Look at tesla go, 854, up 54. Overall trn overall, its a down day. The dow is looking to be down 280 points. The s p down 33, and the nasdaq, despite the success of big tech companies, thats going to be down as we
Thousand. U. S. Infections rise more than expected. Asia, a second wave is coming. Japans biggest banks are expected to join their global counterparts in bad loan costs. They could see the highest in a decade. Take haidi lets take a look at how we are setting up our final friday session. Positively from wall street after a pretty volatile session. U. S. Stocks faltered early on when President Trump said he was not interested and did not want to speak to xi jinping about the simmering trade tensions. In the beatendown bank stocks as well as energy names gaining on account of this jump we saw in crude prices. We are setting up positivity. Futures, both in australia and hong kong, and also in japan, setting up for a higher open, sophie. Ishie President Trump ratcheting up tensions with china amid the coronavirus and trade war. This is what he said about talks with xi jinping. Pres. Trump i have a very Good Relationship but i just, right now, i do not want to speak to him. There are many t