what a 24 hours it s been. one of the headlines i take from today is what this all means for where we may be going from here. jp morgan comes on the show raises the year end target not cuts raises to 4,600 from 44 said they remain constructive and equities see the latest round in growth and slowdown fears both premature and overblown. is he write? how do you see it. well, i don t know if he is right. i hope he is and i admire his timing. it s coming at a moment where a lot of people have flipped from bullish to bearish because of one rough day in the market. but i m not surprised at all that s the environment we soo that all the time people spend way too much attention focused on what they see in a given day or week and extrapolate the worst-case scenarios. and that s why i have a job quite frankly. because we go the opposite way snp i tried not to watch or listen to media yesterday. the s&p 500 at the low point was 3.6% off an all-time record high, completely fine and abso
janet yellen, the comments coming from her, the former fed chair coming before the senate ylan mui has more on the comments that joe was referencing. that s the only thing i can point to if you got to explain why futures are up this morning. let s take a look at what s happening in the treasury market you ll see that ten-year is yielding 1.116%. joe, andrew, you look around, you got any better reasons as to why we might be looking at this rally today? just more of the same, i guess. only go up, right the default trade, a lot of liquidity. yep i think that there s kind of a relief, you know, nothing bad happened hopefully nothing bad happens tomorrow, and then, you know, then it s going to be like a, compared to the last four years, i can t imagine it s not going to be calmer i mean, if we don t have a new news cycle it wasn t even every day, it was like every six hours there was a new news cycle, so, it s obviously not going to be like that, and you know, the by
have one today, chipotle, the companies that fell a great deal and made a snap back like tulio where it makes it so you can take your small business and take it large, what do these things have in common? they are omni channel for companies that would otherwise fail i think it s this is ingenuity quarter. i know there will be people who say it s a v quarter, i know there will be people who say it s because the fed i think it s companies that recognize what was the matter and found ways to make money i found it a very inspiring quarter given the cynicism that we re surrounded with and the negativity which is frankly overwhelming for many people so you think that even though the fed has bought, what, $1.7 trillion in treasuries in four months and even as that pace flattens out we re going to continue to get innovation like that i find there is just innovation everywhere. i had honeywell on last night, they re solving the problem of the vials with plastic, there aren t eno
after jay powell made down beat comments about the economy just as coronavirus cases were spiking in the south and the west today the fed chief once again made it clear that the economy remains weak and we re seeing more gigantic coronavirus spikes in the south and west this time the dow surged 527 points as it jumped 1.90%, nasdaq pole vaulted 1.57%. how is this possible how is it possible goes down gigantically, same thing, next time goes up two key differences. first the fed is planning to buy individual corporate bonds to ensure companies stay afloat if we had survival of the f fittest, powell is doing everything to limit carnage, survival of everybody. second, we had the biggest sales gain in history up 17% in may. that sounds very v-ish we have a super accommodating fed at the same time we re getting better data which means the recovery has staying power and almost broke oil company or restaurant chain wants to issue bonds, the fed would probably buy them i know there a
board. we are off the lowest levels of the day. the dow is at 25,290 there is the nasdaq. concerns about the virus and new hot spots around the country are part of the conversation as i look at moves, i see a lot of buys that suggest you re optimistic about the reopening of this country. yeah, thanks scott. when i look at my portfolio as a whole, i have a heavy bias to the nasdaq 100 the qqqs which have done so well i think that as we are reopening that if you look at technically, a lofts tt of stocks like south six flags, they all look similar. they are starting to make higher lows and higher highs. i think as the reopening happens, this is where there s still risk but we think it s compensated risk longer term to own some of these epicenter names that we think as the summer happen, as the reopening is happening, i don t feel comfortable just owning the nasdaq 100 and sitting in apple and microsoft and amazon i want to diversify that this is buying low feels like. there s