from apple yesterday plus, jim, fedex and adobe to kick around from last night. wow i mean, these were congratulations gentlemen and ladies calls because the numbers were so unbelievably good, much better than people expected. now, this is rather amazing, carl why? because there were firms that upgraded and pushed and raised numbers for weeks and yet they were dramatically exceeded, fedex because of e com, 96% of the growth is e com and adobe because it s how companies are able to digitize quickly, particularly retailers, in order to be able to take advantage of this this amazing wave, this amazing boom of e-commerce to the home because of the pandemic so how can there be such a structural thematically strong story behind e-commerce and packages and growth and the targets that fdx has pulled forward by years and all the good news today on vaccines and therapeutics well, i think what s really convincing here with fedex is that they re talking about how there s actually a
that retaliation comment that mentions boeing. did not mention apple, but apple is acting terribly did not mention applied materials. had a great quarter, stock reversed badly it s a surprise. i don t understand what s happening with boeing. you have this you have the ceo, who is blasting the clients, then you have china who doesn t want boeing, and a queue for boeing planes that is dissolving i don t like anything i m hearing about boeing nothing. you mentioned the editor for the global times, he does say based on what i know, if you block further, we can add you to the unreliable list, and he says qualcomm, cisco, apple as well as suspending the purchase of boeing planes. this is terrible. the china haters and china lovers should look at our retail sales and say, you know what maybe we have to shut up a little bit here. maybe we re not as strong as we d like and we should hold out until we re stronger i ve been the hardest line on china. everybody knows that i m harde
revived trade war with china this time, the chinese are threatening to label some of our best companies as unreliable, meaning they won t be able to sell in the people s republic. then we got some mid retail sales numbers that weren t just bad. they were grapes of wrath bad. but just when it looked like it would turn into a the buyers came right back. plus, all sorts of companies keep reporting and telling us that april was much better than march, which bodes well for may. s&p advanced 3.9%. nasdaq gained. what a turn. now, that in mind, what s on tap for next week? well, first, i m dreading we ll come in on monday and hear about an escalation. the president s new containment strategy against china the market got hit earlier today because we are getting tough on huawei, the huge chinese company that the white house views as an unofficial farm of t unofficial arm of the communist party. there is a legitimate concern and if we give it to them, it is a security risk. okay it i
if you say things are okay, not as great, and you re an industrial, because there will be an opening of america, people will buy you if you say things are in line and you pull your forecast and you re not industrial, it s a recipe to be sold. this is about hope it s about the idea that it can t be as bad as it is right now. you ll see that even with marginal retailers, people think a marginal retail hear to come back because america is open listen, you have to go with the flow for a couple days if you re a trader if you re an investor you have to take the other side of this trade as we get closer to the opening. i think people will be surprised how little these businesses will do and how worse they ll do once we go open it s not it is an opening other than auto builds won t occur. we have to be ready for that your general thinking is we ll get a ford plant reopening, vw doing it, boeing in south carolina next week, but it s going to be a manufacturing bounce yes mor
the u.s. and china agreeing to meet next month. stocks, as you saw, reacting positively to that we re going to talk abdomen goldman shrinking the partner ranks. interesting story. up to a dozen executives reportedly negotiating the exit. is it a sign of a broader shift for this wall street bank? and shares of palo alto, they are up, as you can see the ceo joins us exclusively in a few minutes. they re up ahead of the bell, of course, this morning let s start with the markets this morning a chance for jim and i to get back on the same page as to where things stand we also got fairly positive adp numbers. 195,000 private sector jobs added in august. that was above the estimate. the consumer continues to be quite strong in this economy i heard you talking to joe about, you know, we re the only ones that talk recession and we got a ten year above 1.5 again. i thought when i saw it s like the bonds also rise i think what we ve seen is this endless yield going down versus, say,