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Caroline when it comes to markets, longterm optimism is winning out over shortterm fear. The seven day average in new covid cases, the u. S. Is claiming in every state. California governor kevin newsom says he is pulling the emergency brake. The dow at a record high, closing just shy of 30,000. S p 500 index at a record high. Rotation caps, we have into value and cyclical sectors. Right here, right now, companies are facing the covid reality. Luckily, the race is on free vaccine. Joe last monday it was pfizer. This monday, moderna expected. In itsefficacy preliminary analysis. They are also touting the ease of the logistics. Refrigerated temperature for 30 days. Vaccine has to be very cold. Shares rising more than 9 today. The good news is that light at the end of the tunnel continues to pile up. It means we have certain stocks on a complete tear. Carnival cruise. The reopening trade is back on. Airlines, boeing outperforming. Pfizer on the downside. Trade,yathome something that has do ....
Joe, you tell me first, whats going to be the determining factor this month for stocks i think were going to need to see some value. Were going to have to see energy and financials come around i know i am asking for a lot to see those sectors participate. To your comments at the top of the show about the month of august and the impact that it has, went back and studied the last ten years and in the last ten years, if you did go and purchase or enter the market at the low point in august, at the end of the year, in each instance, except 2018, you were rewarded for that. I would be concerned if we dont see a correction because thats the set up in 2018 we never got the august correction and we set ourselves up for a really bad fall id like to see a bit of a correction i would like to see financials and value and energy participate here i think thats going to be important but any type of correction, the history of the last decade tells you thats an opportunity to be a buyer thinking forwar ....
Can you guess what company just passed facebook to become the second most downloaded app in the world well goat you the answer a bit later in the show. Its a busy hour were kicking it off with target missing the mark a once red hot retailer posting the worst day since november 2018 after reporting sluggish electronics sales. Target which had been a bright spot for the sector and market in general joins kohl as jcpenney five below and l brands failing to meet holiday expectations. The xrt, the etf tracking the group, down more than 1 to kick off the year. Guy. Yes, zwlier do you think there are cracks in the consumer showing . I dont think its an indictment of the consumer at all. I think in this case one off misses we have have a consumer conversation but i dont think its about target the stock went from 80 to 130 in a Straight Line and finally valuation catching up to walmart compsy disappointing you cant say they were not. They r ....
Reporter is the end of the of the, it is the end quarter, some calling it the everything rally. Look at the s p 500 of 4. 5 , bitcoin surging up 208 , the best since 2017. Gold and the 10year yield rallying the most since 2016. The 10year yield opposite the price. Bonds are rallying, risk assets and safe haven assets rallying at the same time good one that is not is the dollar, which is down the worst more than 1 on the month and a quarter. This is a monthly charge. In the monthly range you see it has been stuck in a range between the buyers and sellers, for 2018 and 2019. The dollar index below the 200 day moving average, clinging to the month average, suggesting you can see it go on, even the dollar bounces higher. Reporter not only the Second Quarter but also the end of the second half for it you add together first and second and put it all together and pretty much everything is still in the green. Look on a half year basis, we ....