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Rally and 30 points on the s p 500. There arent many things that story thanter the market rally in. Lisa you said it before, fiscal support, more fiscal support, lower rates. This is what is driving it. I wonder at what point fundamentals catchup because we are not seeing the Economic Data to justify this, and yet, people are looking forward to data they are expecting as we see reopening start to take hold. Clearly, what we see in the next few months is common sense sense, an economy that goes from shut down to reopening. You will get that month on month sequential improvement. July will look better than june. August will look better than july, if we can keep on reopening. Part two is the limit of the recovery, the limits of normalization, how dependent we are on a vaccine, on improvement from the science side to really adjust the limits of that normalization. I think at the moment, were focused on the sequential improvement. At so ....
Down more than 1 earlier on. We have a weakening offshore yuan, which is notable, because it had been strengthening. Brands, the best performer, surprisingly in the s p 500. It is closing 23 of victorias secret stores. Automobiles doing well today. Lets get a deeper dive into todays market action. Standing by we have taylor riggs. Taylor mostly risk off tone, bonds catching a bid. Gold is slightly weaker, but yesterday was higher. You also have the south african relative to aning weaker dollar, after the Central Bank Cut its key rate less than most. Also playing is crude, up for six straight sessions. You are seeing some of this go back to fundamentals. Prices had gotten so low, demand is starting to come back. Continuing to trade above 33 a barrel or the second straight session. It is the highest now going back to march 11, before the lockout started. Taking a look at the individual stocks, you mentioned l brands. They will try ....
This on top of slight gains yesterday at 4 00 oclock. Markets were up. As you see dow industrials up 33 points and nasdaq up 139. Getting america working once again. President trump announcing plans to reopen the economy in phases. The president went through it yesterday. The Small Business aid program has run dry on capitol hill. The battle is waging on how much money, how much to add to funds to help business and American Workers now. Coronavirus is taking a toll on the chinese economy. It has contracted 6. 8 in the First Quarter. First ever quarterly contraction and wuhans death toll revised up 50 adding fuel to questions of beijings actual reporting on the virus. Secretary of state mike pompeo live at 8 30 a. M. Eastern on the possible origins of the virus as more people focus on the lab in wuhan, something that ive ....
Sherry came on set. Scarlet 15 minutes before we got another leg higher. Lets check in with our reporters. Im thinking about all the themes that you and the panels are talking about. Overbought, overextended. This chart suggests perhaps at some point relatively soon consolidation could be due because of how overextended the s p 500 is. Wer the last year, in white have the s p 500 and in yellow we have the 200 day moving average. Above that moving average. In august 9 above. Above the moving average but what i would like to the point here is we have that is comingas the rsi down from its most overbought levels. Technicians like it overbought arket so long as its in series of rising highs. Here we have lower highs suggesting it is cooling off. It will be very interesting to see what the trigger will be. This chart does again suggested is probably coming. Sarah thanks. I want to rewind a bit. Pick backup on that value versus growth rotation conversation, k. Ing had on the des at the end o ....