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1 trillion stimulus package heading down south, maybe. What Goldman Sacks is reportedly thinking of doing. Its monday, december 7th. This is Worldwide Exchange. Good morning, good afternoon, or good evening welcome from wherever in the world you may be watching. Im Brian Sullivan thank you for joining us here is one reason to like this monday there are 25 days left in the year 2020. It cant get out fast enough can we agree lets see how your money looks now. Futures are down about half a percent down dow off about 133. Wall street coming off another good week for stocks the dow was up last week thats the ninth record close of the year on friday of course, its not just the dow. The s p and the nasdaq also closing at record highs. Thats the first time the three have done so at the same time three years. Thats an rbi for ....
Begin with the oracle of omaha well start with the trimming of apple shares hes got more than 900 million we totally get it. Its not like buffetts bailing on apple in any way. It did sell about 36 million shares what is this, do you think is it simply Portfolio Management i think thats exactly right, scott. Its Portfolio Management. Apple being one of the most liquid stocks in the world on any market he could have sold a lot more than that if he had wanted to. So this is just, look, the stocks had a great run, hes pairing back a little bit, got a lot of cash. What i found kind of surprising is that with that much cash, actually not surprising but confirming on the value of the market is that he really hasnt made any big acquisitions. Hes only said hell only buy his stock if he cant find anything else to buy they scooped up 9 billion of their stock in the last quar ....
Message in the market that we need to Pay Attention to i think its interesting because last weeks the markets were so weak and everyone felt so despondent that this week was going to be just a replay of last week. I think that as the election is here today, people are settled, i think, into the fact that we will have a result i thisnk the market thinks we will have a result in the next 24 hours i think we all have fatigue from this election and i this i just havi i think just having a decision is what the market is pricing in now and after the decision, well go from there. I think the market is positive for clarity. It may not be clear but well see tomorrow what actually happens. Unless the market is getting ahead of itself. If you go by our cnbc states of play poll, only one in five think youre going to have an answer tonight on election night. The market seems to be acting over the next couple of days like were going to go to bed ....
Thematic global team if you were looking for big tech to come to the rescue today, youre going to have to look somewhere else that is your picture right now with the nasdaq getting hit the hardest, down more than 300 points, 2 3 4 look, this is not what we wanted people like me have been talking about the broadening of the rally. You were getting that but this week youve had the down side, which we didnt want to see of tech giving up gains its been the whole week, right. Microsoft had a bad reaction to earnings having said all that, i dont think at all that youre supposed to throw in the towel on these big tech nailmes. I think their value iations arer the most part defendable and theyre trading on lack of fiscal stimulus and the virus surging as it is on the earnings number if you want to take apple, theres a reason why they underperformed on iphone sales people are saving you for the iphone 12. And amazon, they have a quarter every now and then where they say were going to spend a lo ....