Again, s p has moved hundreds of points 12. 8 gain since election day. Lets also take a look at whats been happening in the treasury market youll see that right now it looks like the tenyear is yielding right around 1. 104 andrew, much happening this morning, and well be focusing on washington through much of the morning. Absolutely, becky we are going to be talking washington throughout the program, but first we want to talk about a couple of quick corporate stories making news this morning shares of netflix, they are soaring. This after the Company Recorded Strong Subscriber growth, and said its considering buybacks netflix added 8. 5 global subscribers, 2 million more than analysts had expect it brought the subscriber account to above 203 million and importantly the company now saying its able to generate more cash than it needs, and no longer anticipates having to borrow money to fuel its Growth Strategy that is a huge shift from a business that has been borrowing money throughout
Yes, what a week. Lets dive right into the banks, guys. Jim, a lot of moving pieces, jpmorgan of course the most important among them what do we need to understand about what they said about reserve releases and sort of the nearterm uncertainty thats reflected in the reserves that are still there. I look at jpmorgan, like i look at all of these, citi, too, im just going to be tale of two cities, which is that theres before the vaccine, and then after, and citi believes it will roll out more slowly, and jpm, im just going to say, this is one of the greatest quarters that i have ever seen, and the stock was justifiably up, and then citi reports and then wells fargo and charlie sharp who runs wells fargo is not a promoter. He is an operator. He told it like it is, which is he is still nowhere near where he wants tobe and thats why the stock is brought down. When you have a ceo who is as blunt as charlie sharp, and he says were not there, you cant say hes there and i think charlie brought
Suspending ant Group Listing major issues, this is days before the largest ipo of all time well give you the latest details. And social Media Election strategies how facebook and twitter aim to tackle misinformation on their platforms as voters head to the polls and beyond whatever beyond means, carl. David, thanks guys, were going to be talking all day and all night about arizona, florida, georgia, North Carolina, jim, goldmans got a note out just now saying because it would be difficult if the president does not win any of those states, quote, there is a good chance the election outcome will be clear on election night. Right, i think that thats what the market is saying. So the collectionive voice of the market, both yesterday and not just the morning, but when the nasdaq rallied in the afternoon and today with the futures, people say, we cannot afford after last week with the market being down, we cant afford to wait for the outcome we have to presume the outcome is going to lead to
Say the least after a bit of a rebound the other day when i was on with you, yesterday i was not here for what was a decline overall in all the markets. I think we are in a new era of volatility. Every single time we get an up opening people say, okay, i guess that selloff is over and when we get the printed selloff people say this selloff is going to go on for ages. I urge people to step back and recognize we are in a period where theres a lot of vacuum, a lot of people trying to buy when its going up, a lot of people trying to sell when its going down and just interpret that as just being enthusiasm, greed and then fear and accept it that its here to stay because its really the undercurrent behind these moves. Okay. And what does that mean in terms of this socalled playbook that you often offer people who listen to what you have to say sure. It means that if you think that it is going to bounce today because it was down hard yesterday, dont make the first move wait to see whether the
Whether its medical, some of these states posting some of their highest caseloads since the pandemic began, but then again optimism about the recovery at the same time. Right look, i think that we are all kind of thrown its governor to governor, yesterday in new jersey suddenly we get the you can have 100 people outside, 50 people inside. Versus six we are all kind of confused. With he see some parts of the country looking worse, other parts of the country that were so terrible its wide open and the confusion to me is what are the numbers going to be look like what are they going to look like given the fact that new york now feels like post wuhan and the rest of the country seems like, i dont know, maybe is it going to be italy, is it going to be spain i dont think it is. I think its going to be better, but i have to tell you, carl, that the stuff thats being bought is not in synch with whats happening, particularly the airlines, the hertz rental car, we saw a very good piece in the jo