A big upgrade. We will find out what makes it stick out in that big social media space. Plus, petes got a fast pitch on one medical device maker he says could be a home run. We will tell you what it is as he lays out the big case thats medical miracle mystery chart. In a special bonus hour of fast money at 6 00 p. M. Eastern time, we are taking your burning trading questions. Tweet us cbs fast money and you might get them answered here live on the show in the next hour we start with that monster rally on wall street today the s p up more than 1. 5 and the dow jumping over 400 points as you can see there the nasdaq also up nearly 2 leading those markets Higher Energy stocks, financialis and the small caps as well investors appearing hopeful a new deal for stimulus is town the pike markets still down significantly for the month. Does todays action give you a reason to perhaps be more optimistic and for that perhaps, guy, i will turn to you first. Welcome its always wonderful to have you
Next the director of the federal Housing Finance agency testifying on housing and mortgages during the coronavirus pandemic. House Financial Services Committee Members asked him how his agency is handling the rice in foreclosures and forbearances as well as the operations of fannie mae and freddie mac. The hearing runs over three hours. The committee will come to order. Before we begin, i want to remind members of a few matters including some required by the regulations accompanying House Resolution 965, which established a framework for Remote Committee proceedings. First, i would ask all members to keep themselves muted when theyre not being recognized. It will minimize disturbances while members are asking questions of our witnesses. Members are responsible for muting and unmuting themselves. The staff have been instructed not to mute members except when theyre not being recognized and theres background noise. Members are reminded that they may only attend one remote hearing at a ti
Predictions and youre making another big one. Why next week for what you call a monsterous rally into your epicenter stocks happy friday. We took a look at what happened the last time cases peaked which was late april it took 20 days last time. If we look at the current context, daily cases peaked july 27th the 20th day would be august 14th we have been seeing consistent 7day decline in average daily cases but our clients are thinking this is in the middle ground theyre not clear if its a decisive move. I think it takes another week. That will happen next week and i think lit be violent sdp you think people are ready to get out of these stocks that have been so tried and true. Nasdaq closes above 11,000 clearly money wants to go into big megacap growth yes i think megacap growth is cheap as a bond proxy because youre paying 50 times for an investment bond. Paying 30 times for faang isnt expensive. These are the names that have been written off by the market its only 26 of the market ca
Yeah, President Trump started promoting mask wearing on twitter. A major shift and the stocks have been fitted from a reopening economy are higher today and thats how the dow jones gained 160 out performing the s p 500 but trouhe nasdaq. the cramer covid19 index is out. The recovery stocks are in at least for today our country has the worst coronavirus outbreak because we turned wearing a mask into a cultural issue the president tweeted a stark black and white picture of himself wearing a maface mask wh the explanation saying many say its patriotic to wear a face mask when you cant social distance there is nobody more patriotic than me, your president. End quote. Well, kind of the only one why does it matter because President Trump is the de facto leader of the anti mask faction. Thats why he spent months refusing to wear a mask in public and framing this as an issue of personal freedom. That emboldened people to take ridiculous stands against mask mandates invoking the first amendment
What could detail the stocks the s p advanced and the nasdaq climbed 1. 24 . What would make us want to dump the red hot stocks that have been leading us higher i dont see this rally collapsing under its own weight, which is what happened the last time we had an explosive tech rally in 2000. We got ahead of ourselves but the Actual Technology wasnt there yet. We laugh at the. Com casualtiecs the truth is they are ahead of the time it could have been chewy i want to take on the hateful 1999 analogy, remember when it was shot up in 2000. I want to take it on directly. You have to understand why its misleading and constantly brought up and why it makes sense to do so because there are surface level parallels but not that much otherwise. Back then we had two markets, the s p 500 and the go go nasdaq which is a little like today only one of those markets was real the s p. Thats a major difference this time around. Im more confident in todays Tech Companies even if the valuation seems stretc