Amazon also boosting, well, going up, of course, and apple, man, youve seen them both over the last day and this morning perhaps no exception, later today, we get the apple phones, prime day has kicked off, carl it is a big day. And as it was for yesterday, in terms of the stocks. Indeed, were within 2 of all time highs on the s p, trying to get back to the september highs, jim but i wonder if you think the lead this morning are these loss provisions at jpmorgan. I am surprised positively i think what has happened is people arent spending, not borrowing, credit card losses, fine Small Business loans, i dont know where the people are that theyre not suffering. This is it is not a happy maybe jpmorgan is lending better i will say this, david noticed this, there will be a call that goes on, simultaneously when we talk about it, and that call is going to take the wind out of our sails, david, if we Say Something really positive because there will be one comment and some comment that comes
We can get above that 200 day. I have to tell you, once again, what causes a decline its always the banks. Why the banks . Because we cant value we cant value them because we dont know what their future loan losses are going to be. I think that the feds chilling statements made for a tremendous confusion because, remember, weve been skating everybody has been saying how can the market almost bet a its high the answer is because we dont have any data. No real reports that contradict that i didnt like the nike quarter, but people already apologized for that it is the banks and, once again, when i think of the banks an article today about credit cards and how people arent taking the big credit cards with the 400 and 500 fees. David, the credit side continues the buyers jim, that is really interesting to see when we start to get the earnings where the focus of investors is. After the close we get jeffries. Investment banking not overry large but what will be interesting, jim, im sure well
You cant fell it to roll over you cant get it to fetch. Somehow people imagine there is discipline to the process that the action falls clear patterns. For example, when you get a spike of infections, the average is supported to get clobbered and that is what happened friday monday new ball game nasdaq advancing 1. 20 the bulls look at the spiking number of covid cases next to the not spiking number of fatalities and figure we made Real Progress fighting this disease so buy stocks into any kind of weakness we almost got back to even on the dow because mortality rates look like they are dropping. They are buying recovery stocks, not stay at home stocks. If you believe the spike in infections isnt an issue you want to bail on the covid stocks too many states are gradually shutting down to write this off as no big deal more on the index later in the show what happened today . Lets go over key parts. First, we have a reason that can actually be time stamped to turn around the market. This
Wednesday and this morning, dow indicated down about 170 right now. S p down 21 and nasdaq down by 58 just 4. 5 from its alltime high more about what it has been doing well the nasdaq 4, 6 or whatever you dont call it the nasdaq 100. It is concentrated i heard Brian Sullivan saying early that of the nasdaq 100, that 35 of those companies are trading 10 higher or more for year to date not the full year but year to date what weve seen this year broadening out a little bit there is the big chetech and the big tech that seems to be well suited for what we are all doing. Not a total surprise oil hasnt hurt either remember, it was the may contract when it expired at the end of may something theyve never seen us before wti back up to 34. 07. That tells you what people are anticipating it has rallied 70 and only at 34. Right tells you a little about what is happening here also take a look at treasury yields we are around 21 for the 10year. 10year at 0. 664 . Andrew thank you, becky lets bring
On the rapidly changing world. No school in the fall . We speak with the head of americas Biggest College system about just that. We are watching Worldwide Exchange here on cnbc good morning, good afternoon, good evening welcome to wherever you may be watching from. Im brian sullivan. The dow continues to slide falling again yesterday. The dow has now lost 1,500 points from highs back on may 1. Investors will be closely watching whether we are able to rebound now. Futures not indicating that. They are down about 50 points. Coming up, well show you a shocking list of Companies Names you know are hitting multiyear or alltime lows some big names you can mention names you have to watch in the banks. They have been a big red flag nearly every day we crunch some data. The immediate loss of a publicly traded company now is a decline of 41 this year even as tech stocks have recovered. Bank stocks have not one reason for that is likely this bond yields stay low, 10year at. 62 . Asia is finishin