Populating wall street are a bunch of weather man everyday you hear the forecast today the dow slipped some points nasdaq declined 1. 2 it is enough to make you take a meteorologist course to see which way the wind blows seems like both ways blowing at the same time. The tail wind dies and the market goes right back down again. You dont care about todays weather, what good is that for you on the forecast . It is easier said than done. How do you navigate your way through the confusing markets. Starting with the winds from the vaccine. We know it is a huge tail wind for the economy. Once people are vaccinated, we can open everything back to normal and more restaurants and retailers will make it and there will be more jubilation. The jubilation that kohls got underneath its stocks and malls can reopen and troubled retailers can be able to shooure and macys the younger robin hood traders are betting heavily on the cruise line, between the vaccine and soon enough well be able to take a cru
Biontech, seeing a bounce. We know that pfizer is not a hype company its a big conservative company. When it sees things that are not working it is quick to say it. When it sees things that are working it is long to say it in other words, this is not a company that is a brag Guard Company so i am very surprised to see them come out this early. They must feel a level of confidence that is extraordinary versus what they typically do. David, youve known pfizer for very long, you know that pfizer is one of those companies that i guess you would regard as stodgy and certainly not a company that likes to get ahead of itself no. You would have to put it in that category, i think, so it is interesting that this has been shared as meg said and as we know 24 patients, jim, is not a lot. Very positive it would appear at this point i think always important to mention, though, that when we talk about a vaccine we are talking about the need for largescale trials as soon as possible because, of cours
Today the Circuit Breakers were down 7 . A day where oil had its first decline, down 31 . The treasury went below. 15 a record low which tells you the bond market is terrified its also a day where you probably lost a lot of money its probably what happened to you. Thats because, of course, the dow plummeted 2014 points. Its worst point drop ever. The s p plunged 6. 7. Nasdaq 2. 159 now the dow was at 2. 14. It lost that much. Okay it happened. What the heck got us here . Where do we go next . First todays sellers fear we are going into a coronavirus induced recession and theyre trying to get out of other people who want to sell. Just trying to get aahead of them that may sound fanciful that we had six cases in this country and 22 deaths. In the end, it seems like a super food than the playing. As the president tweeted earlier, 37,000 americans died from the flu last year yet nothing is shut down life and the economy go on, end quote. But the marks were not reassured, not the bond marke
Expectations china vowed to retaliate against u. S. Tariffs set to go into effect september 1 were now on track for a higher open lighthizer said its not possible given your past behavior so an awful lot to absorb today. Very interesting that the futures are up exactly the amount they are right now. They issued a very strident set of words toward us at the same time, announced stick l stimulus for hong kong where is what the president said on twitter what happened and without that, i think theyre going to view the olive branch of moving back to december as an illadvised move because the chinese arent playing ball were going to have Chuck Robbins later on this hour the chinese derailed their outlook. Asking them not to bid on business things are getting very, very tense. If we let that dominate the headlines and forget to look at what walmart said today, i think well have a false narrative because of how bad things are. Remember, we are not a big export nation. But yeah, the gloom is pr
Nvidia freezone. This thing has gotten too much even for me. We have to focus on something else. It seems the market only has the ability to focus on one stock at a time. That is why the dow up four points, the nasdaq jumped. I am thrilled that we can actually look at other companies. Even those making computer chips, generate a very i. Even if nvidia but the gravity of yesterday so often when up again today i think it is headed much higher. I always tell you to own it, not trade it. I think we can afford to give some of the companies a little love without betraying the ai colossus i like so much. Fortunately we have some very exciting Companies Reporting next week. Ones that revolve around whether the consumer is fatigued, taking a break, trying to figure out what to do. On tuesday, the holiday shortened week which is terrible because i celebrate the holiday like everybody else. I will be planning. On tuesday, we find out if cava is worth its rep today. This seems to be bandied about