Mike, this morning im zeroing in on enterprise, looking at zoro down 30 right now. What is interesting to me about these names is they both got a big bounce after sales force and workdays earnings reports but theyre giving that back today and then some. Investors seem to maybe be realizing that these names are tied more to overall Enterprise Spending it has not been great versus that sass exception that we saw. Im wondering what you think of what is happening in that space. First the rhinoceros horns at the end tell you something the hottest money, the ones that went the way up, the last spurpt is being taken out i think that this is happening in the context of what many of us have been saying. The market looks a little stretched. A little at the high end of its up trend it should cool off and it was pushed and pushed and pushed a bit higher in part because there has been a welling up of kind of momentum, speculative action, partially in the market some kind of an unwind going on now.
Yesterday, were up the inflation rate as well. They saw exports came in at 13. 3 contraction. The headline number, 16 point 60 contraction. 16 contraction. Tom the question is whether on the fiscal side they will need to do more. The markets. N with a mixed picture in terms of sentiment from investors. You have got some significant southgs in japan and korea. The asiapacific almost back to the prepandemic levels. 169 is what you are looking at. Over on the mainland we have got red on the screen. The shanghai composite is down. Mike pompeo talking about attempts to really divide the internet and the tech space between the u. S. And china. The foreign minister saying he wants to avoid a cold war with the u. S. Got earnings now, looking at those shortly. Seeing gains of. 3 . Looking ahead to jobless claims. The private numbers were a big mess. Jobless numbers later in the u. S. And then the perils friday. Atcan move it on and look the individual stocks. It is earnings season. We have had
800743cnbc or jimcramer i love billy paul, but only the strong survive is the wrong anthem for age of covid19, but i do think thats where were headed and even after a good day like this one, and the s p climbed 1. 91 s and thing is the average is dominated by the fittest stocks and the ones with the strongest Balance Sheets and they will do so where most commerce when most commerce is on hiatus, and theyll still be there, but other companies lesser known, but still in the s p 500 need credit to make it through, not because theyre reckless and poorly managed, but because its impossible to plan for this economic catastrophe and including, of course, all of the small and midsized businesses that are not even public im worried that theyre doomed. Doomed ive said endlessly that we dont trade in nail salons and gyms although we do have Planet Fitness on the show later tent, and there are plenty companies that i supply midsized businesses and more important if we keep seeing jobless numbers a
Or at least number of cases and number of deaths appear to be slowing. Certainly in the new york area, new york metropolitan area. Neil across the country, by and large across the globe. That does not mean cases are still increasing. It is theyre not increasing as much. Like yesterday the markets are seizing on that. That is lifting pretty much all of the major s p 500 sectors. All 11 that weve been keeping an eye on here. That despite what youre seeing happening in americas busiest thoroughfare, what used to be times square in new york, the crossroads of america, has been all but tumbleweed territory but again a lot of what youre seeing shows that right now at least in the markets maybe there is a sense those roadways will be busier and soon. There is no way of telling. Blake burman is looking what does justify or will describe what gets people out of their homes and what the government is looking at, what the United States is looking at, what states are looking at, to sort of get goi
Political relief rally banks are in focus this morning. This is bank of america calls citigroup its pick of the decade. The ceo of ulta will join us at post 9 this hour. Well begin with stocks on track to open at record highs. Also adding to positive sentiment, china confirming the vice premier will head to washington next week for the signing of that phase one trade agreement with the United States jim, its going to be busy next week between that and the kickoff of corporate earnings. It sure seems like everybody believes everything is going to be good. A sheer mention of the banks is really underestimated. There are so many people saying buy these. Why does that matter thats who kicks off earnings season already the expectations are pretty high. They better deliver after this run. And thats what these upgrades are mostly all about. I mean specifically on the banks. Goldman getting not one upgrade but two today out of buckingham and b of a, as b of a or it goes from 270 to 245 what ne