Watching market reaction. Reporter businesses pick up the damage, you have angered protesters unleashing frustration on commercial Residential Property across the country. Right now im at union square, which is epicenter of a lotof protests. What were seeing here, a peaceful protests, about 150 people. Black lives matter. They have been seeking about not looting, that has come up several times. Throughout the entire city, before we show you visuals, if i can say, it sounded like a construction site, many people are boarding up all the walls. Smells like pine everywhere. Feels if were preparing for a hurricane. Look at footage from duane reade. We were there earlier this morning. Completely smashed glass everywhere. Local residents actually cleaning it. It was duane reade. We saw looters in front of us in broad daylight steal things from the locations because they had huge cracks in glass. Across the city many wood is going up. Many businesses are deciding they will shut down and open c
Climbing 8. 86 how do we interpret the market is the market heartless in response to the plea of the protesters is the Market Making judgments about the difference between violent protest and passive resistance i know many people wish it would. They want the market to be part of the debate. They want it to play a constructive role in the dialogue over racial ee qualiqur go down to express empathy for the troubled times were living through. Thats not how it works. The truth is the markets blind because it has no eyes its deaf because it has no ears its a convenient abstraction, not a personal opinion investors make judgments until recently nobody was investing with an eye toward making the world a better place whatever that might be now there is a Younger Generation of investors with hearts in their heads. I share the sentiment. For the most part people pick stocks because theyre trying to make money we buy stocks at companies, Good Companies with good longterm prospects. Mainly ones th
Warrick dunn will join us to talk about his years long fight against racial inequality and how the league is addressing it now. Power lunch starts right now stocks have given up their rebound sdwrurjust turning nega from moments ago you can see were just slightly on the negative side. Essentially, the transimportapo still up thats good news banks were much stronger earlier. Flatti istish ow. Energy has gone negative big movers for the reopenings. All now on flat on the day el tell you why today is important. Were conditioned to buy the dip. Buy the dip worked very well in march. Remember, very rare to have the s p down 5 on a day it happened yesterday down 6 . Buy the dip worked well in march and april and may. The question is will it work now. Take a look at some of the stocks the airline, some of them holding up all right united been talking about all week the crazy moves thats ahead but its holding up pretty well these crazy moves here but its still up off of the lows marathon banks
Being exposed to the coronavirus. Companies are laying out plans for a return to work from facebook to jpmorgan, even if it means only 25 of the work worse will be back in the office and perhaps not even until the end of the year. Taylor riggs has been following the action. Taylor some of that negative news that you were highlighting, the equity markets as you know are continuing to gain on the hopes of a reopening plan that was expected to come in the next coming months or so from a lot of these major companies. Big tech has really resumed a lot of leadership. The thing they wanted to point out was the big performer, reading the note from our chief equity strategist to set the gap in the forward pe ratio between tech and tech excluding the big five goes back to july of 2013 and the ratio explains the dominance and outperformance of Companies Like google, showing the discrepancy we havent talking about. Emily expedia out with results, hit hard by the standstill of global travel. Countr
Accuweather, and its a minimal threat and that will be the theme as we go throughout the day today. We are tracking an isolated shower throughout the afternoon, and live doppler 7 showing you in the east bay, we have been seeing one shower around fremont slowly moving off to the south and east and its moving at 15 miles per hour, so around 6 31 a. M. Near milpitas, and around mt. Hamilton around 7 07. San jose camera right now, mostly cloudy skies. We will find on the day planner today an isolated chance of a shower in the afternoon, mainly in the hills, and temperatures in the 60s and 70s, guys. Drew, thank you. Sports fans have been hungry for their teams to come back as soon as possible and yesterday the governor gave a little bit of light, surprising a lot of us that he seems to be indicating that sports could come back a little faster than we expected. Julian glover is live with more on how the giants are reacting. We like these kind of surprises, right, that we are moving in the