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Waste. Thats why the tech heavy nasdaq rallied when the dow tumbled 226 points and the s p 500 back slid sure, the tech titans respect crowing about it, that would be in bad form. But when you look at their numbers, versus the economy, gdp down over 9 in the Second Quarter, lets call that the worst ever, with 17 million continuing jobless claims. It feels like the old economy is lost the house of pain is the new companys gain. The house of pleasure at the very least, the cloud and communications have gotten a massive windfall here. Digitization pulled through by two, three, four, five years look at that 7. 4 billion revenue amazon reported. Theyre like the amazon mint, because people dont want to put themselves at risk bishy shoppig in person. Amazon is the answer to the pandemic every day some pundit comes out here and argues that the Federal Reserve is propping up the econ ....
Graded a c by her own. Hes a tough grader. Nasdaq outperforming several momentum names in that index bounce back led by nvidia back 900 bucks. Oracle is the best and s p following its earnings report. That after naming a new ceo. And all takes us to our talk of the tape which is all about the rally. Is it running out of steam . Is it taking a momentary breather . No real breather at this moment as we come on the air. Lets ask archie Market Strategist for j. P. Morgan asset management. Welcome back. Reading through your notes, you sound really positive on this market. We do some positive. First on the fundamentals for the economy we see growth normalizing this year 2 , but zero recession in our base case. We see inflation also moderating towards 2 by the end of the year. You still have a pretty resilient nominal growth backdrop for companies. Resilient Revenue Growth area a ....
It was for a moment. Ital ital italys Coalition Looks Like it will survive and the ecb standing pat with Interest Rates. Adp, because of the shutdown, the the only number were expected to get this week comes in under expectations. And george soros making a claim that the euro crisis is over but the European Union may not survive. And what is microsoft without bill gates . Some investors are pushing for gates to be removed from the board. And the three major ipos, brands that you know, well bring you the first trades as soon as they open. First up, futures moving lower on day two of the Government Shutdown, this on which data from adp shows private sector added 166,000 jobs last month, below expectations. The numbers taking on more significance as fridays ....