For an earnings season that is beginning to unfold. Later, the rush is on as Apple Unveils its new 5g enabled iphone are the stars now aligned for a super cycle that wall street has been waiting for for apple power lunch starts right now stimulus negotiations hitting a wall once again as the two sides are stuck on whether to do one big bill or several smaller ones elon has the latest for us there will be no relief before the election. We knew this in our guts, we knew it by looking at the calendar and today treasury secretary Steven Mnuchin acknowledged it publicly during a speech for the milken institute. Getting something done before the election and executing on that would be difficult just given where we are in the level of details were going to try to continue to work through these issues reporter now, this is dispute the fact that the senate will still go through the exercise of voting on a 500 billion package of targeted relief next week thats much less than what democrats are a
Themselves as a platform investors seem to be buying it with that stock up 13 this week it just keeps going up nearly 4 today and it laid out the case for longer term growth and ironically, it will come from the good old phone, right a lot of that conference was focused on the zoom phonewhich basically enables you to take it wherever you go. And there is s ais an axios rept saying that uber may be looking to celebrate its elevate unit, the moon shot flying taxi unit it reflects obsession with profit ability, but i might argue that it reflects his obsession to please sharehold s shareholders backing away from some of the longer term ambitions such as freight, elevate now and as well as selfdriving cars, it does raise a few questions. Yes, it may give the share price a bump in the short term, about where does it position uber lon term yeah, when these companies dont have a clear business Start Talking about that were a Media Company or a Helicopter Company or were a freight company, real
Expectations, both stocks falling. We mentioned somebody was listening in on the Conference Call and it caused that trader to hit the sell button we wont tell you which trader it was just yet. Tim, it wasnt you what did you make of the Conference Call . I think you have a case here where clearly the numbers on the headline looked fantastic. But what was really causing that, that was about provisions, that was about credit quality. Which, its strange because we were complaining that we were fearful that the banks had bigger credit issues that were being possibly seen on the headline and therefore they were putting aside the major reserves what jp morgan look, that beat was a combination of some very strong Investment Banking and fic business but alsos the provisions that came down. Thats something we should everyall be encouraged about with banks bus i think there is more where that came from. But there was some sense this was the only reason. Net margins fell 14 basis points i think ba
In march and april. Yeah, and, you know, the market if you want to talk about it being the index certainly is doing that its been steady naturally the most heavily weighted stocks also happen to be the ones that are in th strongest trends they are covering up for a lot of, i think, softness under the surface. Youre not seeing this latest push higher really have the participation of the airlines and all the kind of socalled epicenter sectors that now are under a little more question about a stutter step in the reopening process. I do think the market is trying to be rational about it. Its unclear what would stop these trends, why would apple and microsoft stop going up today when they havent stopped until now except the fact that the nasdaq does look really stretched once again compared to the rest of the market there does seem to be a little bit of frothy speculation happening in some pockets of this market but thats been the case periodically for the last several weeks i guess you wou
Message just isnt sticking a resignation with a lot of americans whitney wild reports. Lots of traffic on the road coming down to the beach as americans poured out of their homes this weekend. It appears some left the recommended masks behind as you say i dont have a mask on and off they are very safe. There is nobody got it around mayor in my era in my spice at all and video from lake of the ozarks in missouri shows among these party years social distancing turned into a distant memory. And a massive pool party people floated in the sun ignoring limits on gatherings in encinitas California Law enforcement and lifeguards roamed the beach and forcing 3 rules masks are mandatory maintain 6 feet of distance and no stopping or gathering, including sunbathing some people think that theres going to other tells down into sunday and. For half an hour that this isnt how its going to roll. Officials say was phased reopenings risk remains in arkansas more testing is revealing an increase in the n