Uncertainty about where fiscal stimulus is going to go in the future. The major stock averages are all coming off their 3rd consecutive losing week the u k apparently reported considering another National Lockdown to try to stop an increase in coronavirus cases there so that could rattle the Global Markets annalee here weve got negotiations for a second stimulus bill kind of complicated now with the passing of Supreme Court Justice Ruth Bader ginsburg. So thats also sending shock waves through wall street tech shares which had been riding high are all getting hit hard today, Apple Microsoft amazon all off by at least one percent and then if youve been following the latest with shares of an electric car and Truck Company is thought to be a major competitor to tesla well we have news this morning that trevor milton, its founder is voluntarily stepping down now as executive chairman and its board member as we have the department of justice and the sec. Apparently questioning some of the c
Of life. Billionaire investor bill ackman. Former House Speaker paul ryan to billy been. We even saw his fairness himself. Michael jordan investing in draftkings. Draft kings own ceo, you cannot deny they are so popular right now. Joe that is very true. The big question is and we will be talking about this more is this Blank Check Companies, thats the kind of thing you think about market forth, speculative mania. Me ending my money over to someone else and saying do something great with it. Great new way of financing that is superior to the ipo. You cannot deny how much has grown. Spac volume up 174 this year. Is up 13 . Secondary is down 7 . From a relative growth and financing vehicle, spacs are where its out. Romaine you also have to talk about relative performance. You have to take a look at what some of the spacs have performed. It has been a mixed bag. You have had some that have outperformed the s p 500. You can see churchill capital, that is the comparison with the s p 500, the
Ladies and gentlemen, the president of the United States. [applause] pres. Trump thank you very much, everybody. What a nice crowd. It is beautiful. It might be hot, but it is beautiful. We are here today to celebrate and expand our Historic Campaign to rescue American Workers from job killing regulations. Before i came into office, American Workers were smothered by an avalanche of wasteful and expensive and intrusive federal regulation. These oppressive burdens and peoples were a tax our slashing takehome pay, suppressing innovation, and shipping millions of american jobs overseas. Millions and millions and millions. It never ended. Four years ago, we ended this regulatory assault on the American Worker, and we launched the most dramatic regulatory Relief Campaign in American History by far. No other administration has done anywhere near. [applause] thank you. At the heart of this effort was a revolutionary promise for every one new regulation, we pledged that two federal regulations
Ladies and gentlemen, the president of the United States. [applause] pres. Trump thank you very much, everybody. What a nice crowd. It is beautiful. It might be hot, but it is beautiful. We are here today to celebrate and expand our Historic Campaign to rescue American Workers from job killing regulations. Before i came into office, American Workers were smothered ladies and gentlemen, the president of the United States. [applause] pres. Trump thank you very much, everybody. What a nice crowd. Its beautiful. It might be hot, but its beautiful. People were a tax our slashing takehome pay, suppressing innovation, and shipping millions of american jobs overseas. Millions and millions and millions. It never ended. Four years ago, we ended this regulatory assault on the American Worker, and we launched the most dramatic regulatory Relief Campaign in American History by far. No other administration has done anywhere near. [applause] thank you. At the heart of this effort was a revolutionary
Only in credit, investment grade, high yield. That you go to the dow, which has typically been the laggard. Some of the big winners, caterpillar, home depot, boeing, classic industrial procyclical trade that our guest was referring to earlier. To more, i want to go back our guest from market field asset management. How do you make days like today when everything is positive, it seems like we are in the all clear, yet we know that might not be the case. Curious on days like today how much of this comes from a procyclical trade overseas in china relative to perhaps any optimism here in the u. S. Chinas stock has been on a tear. Ish of that you think filtering back through sentiment here in the u. S. Not that much. Today came after yesterday. We started off in the morning and fell like a rock in the afternoon. I dont actually think people are paying that much attention to china yet. I think they will be. I think the easy money to be made this year has been on technology, on stayathome, wo