Upping its offer for an aid package to 1. 8 trillion, President Trump tweeting go big a positive development on the covid treatment. Gileads treatment helps infected people recover five days faster than average and tech stocks are outperforming as a massive deal is in the work the week capping it off with a bang. Absolutely. The russell 2000 is up 6. 4 for the week the dow is currently positive for the year as a whole, just. Lets get to the stimulus news in washington and the reaction to it. Bob basketball has a look inside the market rally ylan moi, and Dana Peterson from the Conference Board bob, lets start with you on this very nice end to a strong week. Good news and bad news, will. Good news is, s p is up about 3 on the month the bad news is i am seeing a little bit of an inversion of the stimulus play today. Thats concerning if you are a believer in stimulus remember the stimulus play, bicyclicals materials and banks and industry and energy and go light on technology. That was wo
You do you reach for the stock equivalent of comfort food something that tastes just like the great bull markets of thats right you reach forfang, my acronym for facebook, amazon, netflix and google this session its more like fang because microsoft has become red hot. Netflix suffered a rare decline. The tech stocks led us higher. With the s p rising 1. 67 , and the nasdaq zoom being 2. 80 , it was a matter of time before we return to the tried and true this market has been going through groups like theres no tomorrow first we had the rally in the defensive Consumer Staples during the work from home nuclear winner the stocks rebounded we started reopening hospitals for nonessential medicine a run up in the big box retailers. That group seems a tad exhausted. Weve seen a surge in the Semiconductor Stocks as demand picks up from china and 5 g. Build out looks good continue with analog devices, amdi a decent quarter. A run in industrials as people bet the economy might be coming back as a
And lets get a check on the markets. Stocks are higher hitting record highs again today and get this, the dow on track for its best week in nearly five months there you see the industrials basically flat never the less higher. Welcome, morgan. How are you . It is great to be with you this friday afternoon. Record breaking rally has been led by the biggest names google join iing microsoft in te trillion dollar club for more on that impact from those megacap stocks and what theyre having on the market, were going to go to seema hey, morgan, the reason we care about these milestones is because alphabet and microsoft and apple collectively make up about 13 of the s p 500 and all three are sitting on gains for the year really setting the bar high for earnings this season. Now evaluation metrics for these three Tech Companies shows that alphabet is the only one trading at a discount to its five year average of 34 times earnings microsoft apple are both trading above their historic pes with a
We will take you inside the group that makes decisions. Is the latest bitcoin bump here to stay or just another bubble . The clock is ticking on President Trumps next round of china tariffs. A proposed new wave of tariffs set to go into effect as early as next month end half of those 300 million of targeted goods are tech related. A new article details how chinas Tech Industry is mostly insulated but there is one area where it is still dependent, very dependent. The semiconductor chip. Chinahe last decadeplus, has seen a surge of semiconductor import. We have bloomberg techs ian king, who covers the chip industry and the cooffer of the the coauthor of the fermented article. And we have brad stone. Ian a satiric parts like broadcoms switch chip, more common parts like an intel microprocessor, china really cant replicate those yet. Emily why not . Ian it is difficult. When you are arranging tens of billions of transistors on something the size of a postage stamp, you have to kind of know
Just under 30 minutes until the end of the close of equity trading. A big picture at across asset, equities, a little bit of a mixed picture, ftse 100 in the u. K. With a record high today. Dax and cac 40 trading sideways, a mixed picture in other industries and in the fx face, broad based weakness and the today,shed through 119 just below that now but up 3 10 of 1 . Cable meanwhile has gone above 134, slightly below that now, 133. 97. Up to 10 sub 1 . Fixed income space, the 10 year yields, generally yields moving lower. Metals on the front foot, let an aluminium moving higher with brent crude down 6 10 of 1 . One stock i want to highlight, the today chart for impact. Ams drop as much as 14 today, down a present or 9 , one of the apple stories. Concern over the past couple of days about apple and the iphone x. As the european markets have somened, we have seen companies drop. Looking at industries, tech stocks providing the biggest downward drag, down 3 10 of 1 . On the upside, materi