Have nuclear capabilities, it is nearing that milestone in the nuclear arms according to the pentagon. I want to get Market Reaction from abigail doolittle. We were much higher before this report. How are we thinking . Abigail we are right around where we were before those headlines. The s p 500 about. 25 . The risk on rally we have seen in august, the s p 500 in august up about 7 . Itre we are really seeing for tech stocks, the nasdaq 100 putting in another alltime high. At this point the nasdaq 100 up almost 1 ,. 9 . Not surprisingly, this has everything to do with apple, up 2. 6 . Yesterday climbing after it split, investors liking its postsplit facelift. There is a four for one split. Now the stop is around one hundred 30 as opposed to 500. The value is not different, but the optics may be more attractive to retail investors. Bloomberg put out an exclusive report about the fact the company is preparing an iphone blitz for this fall, targeting 75 Million Units to be sold. Perhaps th
Index climbing sharply higher. In the month of august, the cyclicals are leading the way on the year. It is all about tax. It is all about tech. Interesting to see how the month of august plays out. Right now a sleepy summer day. Taylor it does not look like it will be sleepily for much longer. August goes quickly. It is a volatile month. We are in an election year. Abigail it is interesting because there are lots of reasons to think we could have a volatility spike, including the fact we are in the seasonally higher volatility time, august, september, october. The vix curve speaks to a big spike in october. The panic index is at levels close to where it was prior to the selloff in february and the selloff in 2018. The fundamental backdrop for this is despite the fact we have a better initial jobless claim today, which is excellent, but it is still extraordinarily high. It is not even put the financial crisis you cannot see the numbers around the financial crisis relative to where we a
Dollar. Shocks are shoveling and there is a haven did, signaling some uncertainty as we wait for some sort of a fiscal stimulus package around the pandemic out of d. C. Taylor what are we seeing in sector level in the first two weeks of august . Abigail it the cyclical field. Yesterday it felt Like Technology was gaining, but so far in august, the top sectors for the month of august are cyclical sectors, such as industrials, energy. Consumer discretionary is in , but the there reopening sectors are taking gain and also giving the idea support, the dow transport up until yesterday had been up 11 days in a row, the longest since 2010. That is the one index gaining come up 1. 3 . Investors hoping there will be a promise of a reopening ahead. That is what some sectors in the stock market are telling us. Taylor that is bloombergs Abigail Doolittle. We are going to go to the chief washington correspondent, Kevin Cirilli. He is standing right at the white house with the landmark deal with isr