Record highs that has the nasdaq setting a record as well better than expected home sales in the u. S strong activity numbers out of europe as well uk, australia to name but a few. Were up, sarah, nearly 1 on the s p 500. Ahead on todays show, a big first on cnbc interview with howard marks fresh off his latest memo. He said the odds are not in investors favor and whether he sees any opportunities right now in the market plushgs connecticut has certainly seen an encouraging dropoff in coronavirus numbers of late. Well ask governor lamont about his advice for states like florida, arizona and texas that are seeing their cases swell and how hes trying to keep those cases out of his state lets focus in on the big stories were watching mike santoli tracking todays rally. Meg terrell has the highlights from Anthony Faucis congressional testimony and phil lebeau is covering another volatile session with the Airlines Start us off with the Broader Market on the three month anniversary of the ma
Really. Northern california and Southern California. Here are the rankings. Here are the rangings. The top five counties all in Southern California. L. A. , riverside, san diego, orange county, san bernardino. Thats 71 of all californias cases. Meanwhile the cabrera counties of santa clara,al need, a San Francisco, san mateo and could notra costa county only make up 9 of the cases. It is hard to say why and some of it is luck but we have to sewell it has more to do with behavioral differences. Whether people are out and about more or not wearing masks. For example in orange county, the Health Officer was criticized so badly for not having mandatory masks she ended up quitting. While in the bay area there hasnt been any public outcry. L. A. Has more than a combined population of all the bay area counties bat 7 million. There are some differences when it comes the Outdoor Recreation culture. So cal beaches have been making headlines for being pakds. In San Francisco it was one of the fir
1. 1 but underneath, it was insane after a big dip at the opening, the market came roaring back into the black. This was a day when both the recession stocks and the recovery stocks worked long term thats just knot sustainable. Sooner or later, someone, one of these two groups has to be wrong but short term as were taught, anything goes. Let me break this one down for you. This market has two big themes, completely contradictory and a third team thats down right apocalypse first, the american awakens train. The people who buy into this thesis, well, they believe the government made a terrible mistake locking down the economy. Im part of that group we wont make that mistake again. Now that the country is reopening, they expect people to go out and spend and return to work as they see it for all intensive purposes, the pandemic is behind us the worst is over. We have a better understanding how to treat covid and in the fall it wont be on the radar screen despite records in florida and te
After yesterdays midsession rebound, the dow initially fell more than 750 points from the trading session before that striking turn around and finished higher more than 750 points s p 500 went from more than down 1,500 and nasdaq went to close up by 1. 4 these moves came after the fed said it would buy individual Corporate Bonds, not just the etf. President powell trading these today not only on what jay powell said but this idea that the administration will be looking for a 1 trillion package it just seems like the federal government is doing the best in their economy. S p indicated up by 41 and the nasdaq indicated up by 73. Looks like this morning, the 10year is yielding 7. 43 . Watching this stuff how it played out yesterday was kind of phenomenal i couldnt believe what we were watching at the close. It was quite unbelievable you are right houj part is the government stimulus unless that leaked out watching the market. It was down. I dont like mondays anyway. Then i saw 400 and bas
The dow toing 25k. Steph, whats the significance of those big numbers we have now been able to get over . Its very positive. It makes people feel better especially if they were buying back in march and april and may. We have been getting pockets of activity thats picking up like the tsa travel numbers look bet per. Mortgage applications up four weeks in a row these are baby steps what this tells me is yes we had a horrific recession were still in it. Its probably going to recover a little bit faster than i initially expected i dont know if its a v but i think april and may are the worst months of the year on terms of the Economic Data and that we are going to start to see an improvement if you do see an improvement and get the economically sense tifr sto sensitive stocks to rebound, thats very encouraging. If you look at financials, they are down 26 on the year industrials are down 26 on the year these things could have a mean reversion and that could propel us higher along with Techno