Away from new highs. Joe, i begin with you. The question is how are we going to get to those new highs . Value is outperforming today is this the start of the longawaited rotation . Well, your initiating a great conversation, scott, because as you have identified the s p 500 is basically sitting less than 1 above its all time high whats critical, though, in getting there if you are not going to have a significant outperformance from what has worked, which is clearly hyper growth, is youre going to have to have the participation from the value names. Lets put in context where value really is. Scott, the russell 2,000 is still sitting 9 below its all time high it achieved in august of 2018. When im thinking about value i also have to think about value and get contribution from small cap value, not just Large Cap Value because there has been such a differentiation in the Small Cap Index this year. Small cap growth is up 22 year to date. Small cap value is down 12 . So, yes, i believe it h
Growth is slowing down due to the outbreak across the sunbelt. We have been at one point up 6 . Were now up 0. 7 . At one point we got to the highest level since the pandemic began. Ahead on todays show, stocks seeing a big rally to start the week Jeff Rosenberg of black rock says the bond stock model does not work in this environment he will join us to discuss where hes putting his money to work right now. Plus, entertaining in the age of coronavirus. Well speak with pitbull about how artists are navigating a World Without live events, and his efforts to help latino businesses lets focus in on the big stories with 59 minutes left of trade. Bob pisani tracking the action phil lebeau is watching the surging stock prices of electric vehicle makers joining us with his thoughts on the race for a vaccine and the biotech name is michael ye from jeffires start us off with the market with the dow up 400. We have had a remarkable run in the last three weeks or so, sara, with mega caps, semicond
Protests and the fallout from joer george floi, but the market and stocks are focused on Economic Activity, period we just keep getting good news its good news off very lowered expectations whether it be cheesecake getting a lot more people than they thought or the airlines this morning. American saying good things. Whether it be ebay pronouncing right now things are better than expected whether you talk a look at a lot of the companies that, you know, morgan stanley, gm, of course this quarter was the weakest, but maybe next quarter will be the strongest. We have a number of Oil Recommendations saying they have come all the way back. So the street is really bullish. After being very bearish you see a lot of price targets that were cut severely are now going back up. Its a kind of dont fight the trend where the most overbought we have been since 2009, but if you go back to 2009, we were up 11 on the s p. We had great period after. People are fighting the tape if theyre selling. How abo
Cape canaveral. First time in almost a decade americans are going to be sending americans into space. This is a big moment for elon musk and his spacex company. In fact will use tesla vehicle to bring the two astronauts out to the ganttry here. This is launchpad 39a. That should ring a pell, where all apollo flights took off, including apollo xi, the one that landed on the moon. You will see see key players there. People on cocoa beach. They say better part of valor keeping your distance. Try telling a people not seen a manned launch from Cape Canaveral in a decade. We we have phil keating at Kennedy Space center in Cape Canaveral. Phil . Reporter at this moment all systems are go for the historic launch 4 30 p. M. Eastern time, roughly four hours from now. This is the fires time, a private space company, spacex will launch astronauts from their rocket and capsule, ever. This is big deal. Lives are on the line. This is the only second time the space dragon capsule has gone from either
Up for the season that starts next month with all the teams playing in phoenix. The cdc and National Institutes of health are supportive even espn. Even though there wont be any fans, it seems like we might return to some semblance of normalcy well, dont take me to the ball game, but have a ball game i think thats the perfect metaphor for today the market started strong, kind of excited about the baseball season dow up at 1. 900 points i think the metaphor is actually wrong which is why we sold off hard in the afternoon. Dow ended up closing off 26 points s p dipping. 16 it was quite a reversal. Were supposed to be in one of the saddest moments in history while we slow the spread of covid19, the death toll keeps rising the darkest is just before dawn. What do they think dawn looks like if you judge from yesterdays action, investors are buying on a vshape recovery boom, boom, business comes back, everything comes back to normal. A v says we have this virus whipped in no time id love tha