Alone welcome to the show im Stephen Beardsley in berlin its good to have you with us times are already tough in lebanon food prices were rising Power Outages becoming more frequent and coronavirus case numbers climbing now the need to rebuild the countrys largest port following explosion on tuesday threatens to expose just how threadbare the countrys economy really is. A city in ruins. Its gateway to the Global Economy destroyed. Lebanon is scrambling to pick up the pieces of this weeks explosion. But long before the blast levanon to qana mewe was then a death spiral. Rampant inflation in an increasingly worthless currency plunging many lebanese into poverty hunger and despair. All now are sure to get worse. More than 250000 people have lost their homes in beirut. And countless businesses have been destroyed. And we compensate. We lost our houses all shops and a house of my grandfather. Lost my uncles wife and we took out from under the rubble is there anything bigger than this except
Lens clearance theres an abundance of flammable material once again i did some stuff. And some moves going up in some. Little consideration the world on fire starts aug 12th on g. W. The lebanese economy is in freefall now the countrys largest port is out of commission and the entire city quarter needs rebuilding the economic consequences of monday rather tuesdays explosion in beirut. Grounded and pounded financially with tons of hours to cut costs and employees as it posted big 2nd quarter loss. Welcome to the show im Stephen Beardsley ember lead its good to have you with us tom. Were already tough in lebanon on food prices rising Power Outages becoming more frequent and coronavirus case numbers climbing now the need to rebuild the countrys largest port following an explosion on tuesday threatens to expose just how threadbare the countrys economy really is. A city in ruins. Its gateway to the Global Economy destroyed. Lebanon is scrambling to pick up the pieces of this weeks explosion
We begin with the call from Goldman Sachs to avoid apple, to sell it. John, to you first it is your biggest position. Is this the right call from Goldman Sachs reiterated to get out of apple all right were not hearing jon. Well work on that the steve, youve trimmed a bit of it what do you make of this call. We see apples recent Stock Performance and trading level as unsustainable and will continue to recommend that investors avoid this stock i did trim some a number of months ago its still my biggest position i trimmed it to me, apple is the market right here the stock does not deserve to be where it is but neither does the market and neither do a lot of stocks. I believe youre in front of the companys biggest Product Launch ever, which will be the 5g phone. The market is forgiving lot of the sins if youre looking at purely does it deserve to be here in a microscope looking at apple . No you can make that case on anything im not selling anything let me take that back. I may trim a litt
Its up 9 you think about the Digital Infrastructure for fitness, a time when its kind of hit or miss whether people can gather inn provides some of that not just in the bikes but in the apps spotify up almost 7 twilio, which provides payment and tracking services, data services, those apps up 7. Service now, amazon up considerably most of those stocks also up quite a bit over the past few day days youre right on peloton, wedbush puts them at 66 saying a blowout quarter is possible. Mark may joins us this morning to talk more about this. Mark, good to see you. Welcome. Thanks for having me back after a week when people wondered if this trade was still fresh, is today another reminder that its hard to keep this narrative down sentiment in the tech sector among investors varies depending on the time horizon especially now with earnings. Investors in general in tech are bullish. I know that for the most part Stifel Research analysts are bullish over the medium to longterm. There are differ
The session, sara. Come back after two down weeks. Coming up on the show, tech investor Roger Macnamee is with us and gold strengthens, the dollar weakens and home body stocks outperform well break down the trades and themes in a few minutes with David Rosenberg. Lets focus on the key stories mike santoli watching the bounce back rally meg tirrell as the president participates in a Coronavirus Briefing and the other big Market Driver this afternoon, the stimulus negotiations in washington new details expected this afternoon. First to you, mike yeah. Sara market really is a bounce in large tech stocks that is carrying the s p 500 to the high end of the recent range. Pretty well mixed market under the surface. Those big nasdaq themes carrying we spend most of the day, interestingly enough, almost exactly at those early june eyes we were looking at for a while not sure there is any particular reason we have to sit there. 3232 is that level basically that, is where this nasdaq rally has ta