Good day. Welcome to the Hudson Institute. Im todd linberg, a seen the yor fe senior fellow here. Were having a conversation today with peter burkowitz, the developer of planning at the state department. Peter is on leave from the stanford university, peters undergraduated years, he has an m. A. In philosophy from the Hebrew University in jerusalem, and then a j. D. And ph. D. From yale. And so hes obviously rather overqualified for any position he finds himself in. But were glad hes able to join us today to talk about this report. The elements of the china challenge. This is a report by the policy planning staff in the office of the secretary of state. Ill just say a word or two about that office. The policy planning staff is an office within the secretarys office. So it is tasked principally by the secretary to undertake such research and policy planning, indeed, as he zeem deems fit and this staff is, of course, a political appointee and has led the office since early in 2019. Let m
Theyre raise something 130 billion in market value between them just today. Tesla, also down 4 in the likes of amazon, alphabet not far behind lawmakers continue to work on aadditional stimulus package with new details coming out about individual and corporate ap dow down 330 points with 59 minutes left in the session, sara coming up, tech investor dan niles will be here to make sense of the late day selloff in technology stocks. With the nasdaq down 2 . Plus, well talk to john rogers about his take on the market and the areas hes investing in right now. And more earnings coming your way after the close including intel, etrade, mattel and apple supplier sky works we bring you the numbers as soon as they hit the tape with one hour left of trade, lets focus in on the stories. We have details on the increasingly heated rhetoric between washington and beijing phil lebeau has comments start us off with the Broader Market and tech especially not getting the love today tech is overheated. Loo
Tweet us cnbc fast money. Lets start with a strong start to the week for the markets. In fact, recordbreaking close for the nasdaq tech leading the way it has done so often guy, your take on todays rally. If we snapshot today, guy, Half Way Point of the year, the dow is down 8 or so the nasdaq 100, up 21 , almost a 30 differential will that be repeated in the second half of the year . Well, first of all, its great to be with you you know, im a huge fan of yours. Ive mentioned that number of times. So. Thanks for hanging out with us this evening. Thanks for having me, guys. Im hard pressed to believe that you can come anywhere close to having that same kind of out performance in the second half but i have to say, i didnt think it would happen in the first half of the year so who am i to sort of speculate on that. What i will say in terms of the s p 500 with its move basically within a whisper of its alltime high if you assume 130 worth of earnings for the s p 500, which is a pipe dream,
Headlines in the quarter some past underperformers are catching a big bid check out these moves and the financials etf up 9 and xlb materials up 3 and on the flipside, outperformers like tech and health care are underperforming the Broader Markets with the xlk etf up 1 and xlc communications up 1 so is this rotation temporary or will this be the new leadership Going Forward . Guy adami, lets start with you. Hi, mel hi, guy well, just about everything is temporary if you think about it except luggage in the great words of eddie murphy, but i digress. I think it can continue and i absolutely think the banks can continue and kudos to karen who has been talking about the banks and saying the pain trade will continue to be higher in the Broader Market what we have said is banks should be trading higher and for example, j. P. Morgan which weve outlined the metrics that i used that was a 62 tangible book and put a 1. 85 multiple and youre talking about a 118 stock and i absolutely think there
All. Also coming out kenyan government bans entry to 2 refugee camps as fears grow over the coronavirus but will it be enough to stop the spread to the hundreds of thousands of people who live there. Hello im terry Martin Thanks for joining us hundreds of protesters gathered at michigans state house on thursday to protest the governors request to extend the state of emergency to combat kogut 19 more than 40000 people have tested positive for the virus in the midwestern state. For the 2nd time in 2 weeks protesters gathered outside the state capital in michigan to demand an end to stay at time 0 days and business restrictions. But this time they didnt stop there. Hundreds of demonstrators stormed the Capitol Building to condemn a plan by the Democratic State governor to extend Emergency Powers for another month some of them with rifles. Governor Gretchen Whitmer has already issued an executive order to extend a state of emergency but protesters say thats a violation of their rights. The