A lot to get to and discuss, everybody. Right now, though, a quick check on the markets because theyre higher across the board. The bottom right of the screen and come off the highs, the dow above 27,000 for the First Time Since june 10th on an intraday basis. S p 500 less than 5 from its alltime highs up nearly 50 from the march lows. 28 members of that index hitting a new 52week or alltime high and a cramer favorite stock, mccormick. The nasdaq is negative again there is a lot to discuss. Joe, we are off the highs. You can address that but also this the vaccines plural getting all the attention as they should. It only concerns, you know, all of humanity. But did Goldman Sachs numbers have anything to do with the earlier market strength . I think most of the early gains that we witnessed this morning you can credit to the vaccine optimism i do think, brian, that the Strong Performance from financials in the last couple of days, whether it be jpmorgan or a Goldman Sachs this morning, t
Hour with our Investment Committee today. They are our committee let oos get a check lets get a check on the market. Stocks are marching higher we are right near session highs. Lets take a look at what exactly is driving things and for that, well start with josh brown because youre in the box right next to me right now what can you make of what this jobs report told us and why does the market continue to rally given the fact the economic prospects may be so dim . Im pretty comfortable saying this is the worst monthly jobs report any of you watching will ever see for as long as you live this is it this is the ugliest youll see we have lost 20 million jobs the all time record was two million jobs after world war ii and the worst we saw during the great financial recession a generation ago was 800,000 in a month. Youre not going to see this again. I think whats important to point out and i want to be delicate in the way i say this wall street is coming around to the fact that for the most
And a thousand times a day without thinking about it. At least thats how it feels right now. The inevitability of this outbreak is starting to sink in. What does the fed do it gives us a rate cut a 50 basis point rate cut. Reaction hey, condition rate cut. And it was a resounding texas hud. Ultimately the dow fell 786 points and 2. 189 so why did we get that illnesses, cancellations and this epidemic and im beginning to feel just in what has just been cancelled the emails that i get and the notes from Different Companies that is a shutdown it doesnt change that its not a cure. Its not a hazmat suit or respirator it does absolutely nothing to impact the spread of the virus it somehow boosts Business Confidence i did care about the rate cut. I cared about how wrong it was its totally a sign of the panic from the fed. And a rate cut i say this as someone thats been addiment that easy money is a good thing im probably the biggest single proponent of lower Interest Rates on the entire spect
Public. Deciding that the scrutiny directed toward him had become too much of a distraction. The resiliency of facebook, despite the backlash over big tech. I get that. Im not the ideal messenger for this right now. We have work to do to build trust. What does the future hold as we head into 2020 . A special edition of Halftime Report in San Francisco, begins right now. And we welcome you to 1 market we have a great lineup today were going to be joined exclusively in a little while by snowflake chairman and ceo Frank Slootman as he prepares to take the Company Public in the year ahead. Frederick kerrest, the cofounder of okta, that stock up more than 90 this year were joined by Brad Gerstner who helped us take stock of whats happening in the valley throughout the year. Deirdre bosa is with us, covered the ipo and Venture Capital markets closely as anybody its great to have both of you here so brad, interesting year to say the least. Uber, lyft, they go public wework blows up. What do y
Welcome. Good to have you with us on this thursday. Our Investment Committee on the table, jim, steve, michael is back. We begin with surge, s p and dow hitting fresh highs today. Trade the reason. Reports say the u. S. And china agreeing to roll back some tariffs in phases, doesnt take much to get stocks climbing. Jim, weve been asking all week if theres a green light for this sevenweek surge into the end of the year. Were higher today, what do you think . I think there is a green light. What we were worried about yesterday was somebody not wearing the right shoes for when the meeting was going to happen. Obviously thats yaeesterdays news. Today theres talk that the tariffs may be rolled back and the market support in the is still i market that teeters whoon happens wi on what happens with trade. But were still waiting for that euphoria phase. I dont think we get that this year i think thats something where the stars have to align in 2020. More on trade. More benign politics. These ar