Ahead on todays show, fashion in the time of coronavirus. Well speak to anna wintour about vogues new partnership with amazon on a Digital Store front. Plus we will speak to truist ceo about his efforts now for Coronavirus Relief lets focus in on the stories we are watching Steve Liesman with the highlights from the fed minutes. Just released in the last hour and oliver chen is with us to talk about retail earnings and the big box names he likes so far. Michael, start it off with you what stands out . Yeah. The market just bobbed right back up from that lateday selloff yesterday. In fact, the low for today in the s p 500 hit about three or four times was yesterdays high. So it seems as if, you know, big money investors continue to behave in a way that suggests they feel underexposed to stocks if theyre not going to pull back a lot weve been talking a lot about this rotation theme. You have small caps up a lot and fin tech and financial all were really doing is stretching the upside of
Three handle on the s p. There is no such thing as a triple top yep thats in play the fact that basically no such thing generally as a market that kind of repeatedly tests that upside ceiling and doesnt punch through. I think you look below the surface and say what would cause this move to stop aside from the fact that we are all looking at what are acknowledged to be some resistance levels, the 200day moving average, some exhaustion, Technical Levels out there the leadership stocks dont give much back. A lot of comeback in the most cyclicly attuned stocks at the center of this economic crisis it seems like sentiment is while you can see some speculative froth perhaps in the call numbers and some of the day trading data in general, it doesnt seem like people are overcommitted to equities. That leads you to the question what would stop the move not keep it going. There would be no injustice if this market fell 5 , 10 , but it is not showing you the signs, aside from some wear and tear o
Comes with some of these medical breakthroughs that could yield perhaps advances that lead to people moving around, feeling more comfortable, boosting a little bit those stocks that have been most beaten down, morgan absolutely. When youre talking about reopening, you have names like disney that are moving forward with plans or some plans in florida, you have names like apple beginning to open more Retail Stores in the u. S. As well also crude is one to watch and carl just mentioned it, the fact that were seeing a bid for crude. Wti the june contract expires tomorrow and what a difference a month has made as you have seen production numbers start to come in and started to see some of the driving demand return as well gas prices at the pump up by a couple cents in the last couple weeks as more and more people are starting to come out as we start to see more of these reopenings, but, of course, longer term, as we continue to talk about over and over again, its going to be what does the t
Yesterdays drop as the yields rise, the s p and nasdaq are now on pace for their worst week since march. Interesting action in bonds as the ten gets back to 4. 2. Weird. Today we got decent productivity data, labor costs were okay, and then prices paid on the ism back to the highest levels since april. So the markets sussing out what is the inflation trend right now. Watching that inflation trend and that commentary we got from Warren Buffett and his confidence in treasuries and the fact hes going to keep buying is just a question of which treasury right and then, of course, a slew of corporate results. We talked media last hour with warner bros. Discovery all eyes are on apple and amazon and their commentary about the back drop. I think were going to be seeing the tea leaves of amazon and what well see in the next quarter. I think thats important. Very big night of results coming their way ahead of the jobs number. Despite our next guest pointing out warning signs in the market, hes n