High end model with the biggest screen yet but shares are slipping after yesterdays big gains. Banks but are in the red a busy afternoon 59 minutes left of trade the dow down 157 or so. Lets get to the big stories. Josh lip ton has the latest from today as apple each. We have the latest on eli lily and we have the Broader Market action josh, apples shares are slipping today, but still higher so far for the week. Wilf, apple bulls will argue what you saw today is the start of a new iphone super cycle. We have to wait and see whether consumers though are just as excited. Tim cook introducing the companys first new 5genabled iphone, the iphone 12. It will be available in four versions, different sizes starting at 699 for the mini, which has a 5. 4 inch display to the max, which has a 6. 7 inch display and costs 1,09 9. The transition from 4g to 5g is complex. Some argue 5g coverage is spotty right now. Though it could act as a catalyst helping to bring the technology to the mainstream won
Great to see you. Thanks for having me ted line as you go from 34. 50 to 35. 25 its on the back of what you have coined the epicenter stocks why today to raise your target i think were nearing a really important level a lot of guys are saying this is a sign of a renewed bull market. I think we should be constructive on an all time break out. I think the upside, which is why were raising our target will come from the epicenter. These go back to their february highs. That adds 150 points to the market add to that to are we are today and that gets 35. 25. You said today was going to be the day for this. What you coined monsterous rally. Theres no real indication, tom, that growth is ready to give up its leadership role, is there . No. People have been successful sticking with the Growth Stocks. I think it will tough to give that up plus they are still cheap against bond proxies the epicenter, these companies have rationalized costs. They are making this at 30 of their sales. We get a reco
Spacex, and it is actually playing out in the market. Because spacex is privately held but if you look at the handful of more pure play space names, virgin galactic, not affiliated with any of this right now but represents Space Tourism play is higher today also the ufo space etf is trading higher ahead of the launch its scheduled to happen a few minutes after 4 30 p. M. Eastern right now but well see how the weather and Everything Else plays out here, john. You talk about space a lot, its a an important story, an Important Technology story also. I cant help but look at whats happening to silicone valley and tech at large over this incredible year especially that weve had. If you think back over the past decade, the elon musk brand of tech that is hardware, big hardware, difficult engineering, its tesla, spacex, that wasnt the popular thing. It was more the instagrams, the airbnbs, the we works. I think weve seen in this, you know, virus crisis that swept the globe its some of those in
Whole move, just fueled by Wishful Thinking are we whistling past the graveyard here after a strong day dow gained 133 points, up more in the beginning. Nasdaq climbed 1. 3 . I think those are the wrong explanations its not Wishful Thinking. Its that i keep telling you that we have two markets, right. I told you why the s p doesnt work any more. We have two markets. We have all that stuff that went down and im going to go over that and then, of course, whats in the nasdaq in science and technology thats whats responsible for the phenomenal move. The nasdaq is barely down for the year yeah, and the bad market, the industrials, travel leisure stocks everything gets dinged even on a big up day like this one. Right now there is genuine excitement on wall street that we could maybe be returning to something close to normalcy. We know its ridiculously high people didnt get their stimulus checks, the pay row protection program, money will float, Small Business employees consumers have been co
Protests turned violent. Also saw some stronger than expected inflation data out of china, raising questions about whether they can continue their stimulus the dow is higher, nasdaq down about 0. 14 . Of course, record closes last week, hence a little bit of treading water today joining us for the full first hour of the show, nancy the eveningl tengler so whats your take today . The earnings season wasnt as bad as feared, right we seem to be moving towards a more cyclical bias we had overweighted cyclicals earlier this year. It was kind of painful for a while. But it looks like manufacturing is hooking up. Still some concerns about capex, which well talk about, and so were modishly bullish and continue to find places to put money, which is always the test, right . Were going to get some of those picks later on in the show nancy, year with us for the hours. Well focus in on the big stories that we are watching here today josh lipton has details of a brewing controversy including apples