Get started here this morning. Look, i think that we are actually experiencing something that we havent lately which is that the analysts are almost entirely positive, and yet there is an underlying current both from the unemployment claims, which they are never going to be good until we get a vaccine. And also a general on wee that we dont have it under control, there i am talking about covid19 so why own anything . I think that thats an incorrect view there were many many piece this is morning that talk about what i can only say i am going to borrow a term from larry kudlow, green shoouts. There is much thats good in the economy. It is just not where we thought it was going to be, david. It is not all encompassing, but there are some areas that are very strong. All right so go over those and explain to me why they are not what we thought they would be. I think we thought travel and leisure would come back. That cruiseships would come back, that there would be Corporate Travel only on
I rarely read news articles on me. Even alter isaacsons book, i asked walter should i read the book and he said no so i did not read the book on myself. I actually dont quite know what the Public Perception is. Except that the nature of news is that it is going to be salacious. It is going to be somewhat of a caricature because the more crazy something sounds, the more clicks it will get. When you think about a news story about something you know well and say, how accurate is that new story about something you know well, i think you will find it is not very accurate to that is true for everything. There is sort of a desperate quest for clicks. The more crazy the headline is, the more clicks it will get. This is not to suggest there are not true things by the media. It is best thought of the medias best thought of as a click maximizing machine and not as a truth maximizing machine. I think it is best to look at the words someone says themselves as opposed to what is written about them.
Haidi china pledges more economic transparency. The pboc will balance the need for stability while controlling asset bubbles. Rishaad sending a different message. Weibo currency opportunities. Global relief rally continues after the french election, seeing a rising tide, listing all markets across the world. , taking a look with attention to the European Central bank. Japano have the bank of starting its twoday meeting as well. That is on wednesday. Gdp growth figures out of the u. S. , looking forward to all that and more as we see the optimism flowing into this part of the world. Haidi thats right. It is a bit of a client trading day, given the australian and new zealand markets closed today to observe a holiday. When it comes to chinese markets, they are not playing ball. Take a look at this chart. A complete lack of correlation when it comes to chinese equities with the rest of the global rally. The shanghai, completely diverting from the blueline, the msci. What we are seeing is t
Wayne rogers and company. Connell some news on the fed from five years ago. Lets go to Nicole Petallides and the dow is up today and Nicole Petallides at Stock Exchange. Nicole good morning. We are seeing some up arrows and major averages pushing them into positive territory for the week but looking here like the dow is going tab three straight weeks of gains, 60,154 last friday. Squeezing out gains is a good way to say it. Up 1 1 4 . The tech having nasdaq doing well, also up 1 3 of 1 . We are seeing gold higher by 5 and buying across the board for retailers to drugs to banks, transports doing well, we have gone some notes out from the big houses such as jpmorgan this morning saying to buy equities, dont sit on the sidelines, lot of movers, a hewlettpackard, ala of movers here will keep a close eye as well. Connell thanks. Dagen breaking news from the Federal Reserve, central bank releasing transcripts of its meetings from the height of the financial crisis in 2008. Connell coming thr
Bob pisani, hot july, despite some selling at the end of the day. Secondbest month, bob . Yeah, you cant yes. You cant get any better. We waited all month for the pullback that was supposed to come for the summer swoon that everyone and it didnt happen. All we did was go sideways. We didnt even have a 4 correction. Look at the major sectors and ill get to the s p in a minute. Small caps led the way. Theres the russell 2000. The dow jones industrials, we hit an intraday historic high today. Not a closing high. But good enough. I tell you why i like this so much. When you get healthcare stocks and materials stocks and discretionary and finances, all moving within a point of each other, thats a broad rally. The s p up about 5 . And in the subgroup, going into july, three, four major groups doing particularly well. We had biotech, airlines, retail, housing. And three of the four turned into a very good month. We know about housing, a little bit of a downturn as the higher rates put a crimp