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Ashley thank you very much, charles payne. Great stuff as always. Hi, everyone, im Ashley Webster in for liz claman. The dow is off 179 points and back blow that, i guess, psychological mark of 40,000. It breeched it in the final moments of trading friday but pulling back today. The s p 500 and back below 500 and so far so good and s p 500 will be a squeaker and needs five points for the 24th record finish of the year and tups 5. 87. Could be interesting. Reports from lowes target, tjx and big key events on wednesday, nvidia earning ands, yes, the fed minutes. Vice chair Phillip Jefferson saying cautiously optimistic about inflation fight but its still too early to tell if the slow down of inflation is long lasting. Very noncommittal. Itll take awhile to be confident on inflation. Take a look, 2year yield hit ago oneweek high in the session today. Two year at 4 hadnt 48 an ....
45. 88 for wti. So still talk about the possibility whether or not it is going to 50. Brent is 47. 53. Natural gas is 208. Janet yellen wont completely rule out negative rates but the fed chair also saying that the tool would need a lot more study before it could be used in the United States. Our comments coming in response to written questions from a congressman following her testimony on capitol hill. And Jeffrey Gundlach telling an investor web cast he sees some hawkish rebellion showing up. He calls yellen the biggest dove. 50 chance of only one more rate hike this year. He can see the s p going to 1600. On todays economic agenda couple of things coming up. April retail sales and the producer pricing index both out. Sales expected to rebound after a decline in march. Then were going to get may Consumer Sentiment ....
For the portfolios we manage. We are, instead, putting on a one by two trade right here approximately at the 115 level in the stock. Thats what we started to do yesterday. We thought that the stock has still more room to run. Weve only heard what weve heard, of course, from sprint and t mobile. Apple isnt going to tell us anything for quite a while, and i think well hear more from at t and verizon. I think its all going to be good news. Everybody on the desk likes the stock. Do you think this move is justified . Sort of in the velocity of it . Yeah, i do. I think it was also very underowned. I went and looked at the weightings of apple in the s p 500. 3. 4 . I would venture to guess that many Portfolio Managers under underweight. You could have been underweight for most of the year, right . It it was the right call. For them just to get to market weight in this position i think thats what you are seeing here, and in addition, ....