Consumerfacing businesses and both are on the move in the afterhours session and we have Team Coverage to break down both of these reports and lets kick things off with csx with the call now under way and lets get to Frank Holland with the details. Melissa, shares of csx up, and something weve seen in a number of other companies and one of its competitors, union pacific. On that call the ceo says production demand was too hard to forecast in this covid19 environment. Also during the call the cfo kevin boone said the Company Raised 500 million in debt and the Company Believes it is in position for a potential recovery and maintaining a strong cash reserve. Our Liquidity Position is extremely strong with nearly 2. 5 billion of cash and shortterm investments at the end of march this represents multiples of what we would consider normal, targeted cash levels cash may be strong, but volumes are weaker year over year to start q2 its been seen in the three weeks since the First Quarter ended
Battlefield, hope well cultural park, Rock Creek Park, et cetera, et cetera. Steve is an expert in civil war err with military occupation, operational command, fortifications, of course, in the western theater. He authored articles in the American Civil War and the defenses of washington. And he holds a masters degree in American History from the middle Tennessee State university. I will go off script one second, steve has done more to bring attention to the civil war defenses of washington than anyone ever has before. So if you dont follow him before this event, follow him on facebook, follow the civil war defenses of washington after this. Keeps it fresh and real and bringing some great information to the front. So, steve, come up. All right. Thank you, i appreciate that. Can everyone see me in the back . Want to make sure i wore something bright enough for everyone to see. Yes. And im from denver, colorado, we call this united in orange. So thank you, rob, and i want to express my g
Ready to go. Halftime report starts right now. Welcome. Good to have you with us on this monday our Investment Committee at the table today. Lets begin, where else, the markets. All three of the major averages are higher dow would be Even Stronger if not for the boeing drag. But with several major obstacles out of the way, is a melt up now in the cards thats how i look at this, josh. You go down the list and say, all right. You have this trade. Tens tensions are eased for the moment uk elections in the rear view and the fear of maybe missing out and performance chase over two weeks. Yeah. All is good in the market world. This is one of the interesting moments. They dont happen all the time where it almost doesnt matter what you own you could own value and growth and making money in either one theyre still below the old 18 highs but theyre on their way the banks have just broken above the 07 highs. All the mega cap banks look incredible tech is up 48 year to date and now you have europe
We create second down d 260,000 month. And there is the idea of a recession looming around the corner most of the big picture data points tend to be small. The Labor Department and payroll report this one tends to linger, painting the whole market in whatever light that report is and in this case, of course, its a positive light. These matter why . Because we head into next week its going to affect all of our game plan. On wednesday the Federal Reserve will reveal the next move when chairman Jerome Powell holds his press conference and after the fabulous numbers we got today, i dont know im worried. Im worried he can turn hawkish like did he late last year he took a wrecking ball to the economy. Colin powell, a wild card. Even though we have great job growth, there is not much inflation. That will be a Huge Positive if you take more hawkish tone, well, you no he what look out below and hes capable of that sometimes i think he just cant lose the old model the other big nine earnings eve
Want to cozy up with for the long winter. But a major milestone for the dow, closing above 28,000 for the first time new records for the s p and nasdaq united technologist, alphabet, microsoft all hitting record levels is the market headed higher and higher thats a miserable song, isnt it. You know there was a time and place for it but its not this is not the time and place to talk about it. Nor the place. Kudos on the devg but me that thought the market is grinding higher so many headwinds and things to be concerned about and we rattle them off the market doesnt care. The vix closes at 12, in my estimation way low in the environment but the s p grinds higher on a day where the only real news is the president part of his administration talks about getting closer to a trail trade deal with china i thought we had phase one signed a couple weeks ago. Earnings god but i do think this market is not nearly looking at all the negatives closely enough and at a certain point they matter. I dont