Run continues. 111 s p new highs today as we watchaction in technology. Despite some downgrades and plenty of commentary from henl fu hedge fund managers. Alphabet becoming the fourth firm to reach a trillion dollars. The five Top Tech Companies account for 70 of the s p and worth 5 trillion combined happy friday, gent, go tshggente you. Good to see you barry, you had moves in markets, bull markets of the 90s compared to bull markets of the 20s you said we have not hit the blow off top but were on our way. If you look at the exponential trends, a curve increasing at an increasing rate that characterized the 1920s bull market. It characterized the 1990s this one has been more linear and it doesnt have the upward sloping curve since the 2009 low. So i find it hard to believe that weve seen the top because we have not entered that parabolic move how would you know when were close . Well, youll see the parabolic move that will be the first thing euphoria, a lot less doubt in the market i h
What your technology does. It only matter who uses it, whos the customer thats what i keep thinking. Today another sedate session, s p inched up. Nasdaq. 04 need a microscope here we keep learning this same lesson about technology over and over and over again in this elongated earnings season, and its pretty jarring, because normally we care about what technologies actually does, if its helpful, if it increases speed or accuracy or power or productivity, well, it tends to be a suchls. Buy, buy, buy if its clunky and dead on arrival sell, sell, sell not these days, though. These days wall street only cares about who your customers are. Good, bad, as long as youve got the right end markets, your stock is going to be worded. Lets use roku, okay, and cisco. Roku sells to the consumer, sells to you their Technology Helps you stream videos directly to your tv cisco is a networking company, a colossus that sells to what is known as the enterprise, giant complex companies that need to connect
Disney also in focus this ahead, of course, that will be an after the bell Earnings Report but the companys espn unit striking that deal with ten entertainment. We will keep an eye on eli lillys record run sparked by not just its diabetes drug but also that very encouraging study in terms of the broader impact of those weight loss reduction drugs. Also an upgrade this morning jeffries. Thank you start with disney and that espn Sports Betting deal sounds like this morning that you wonder why markets not making a bigger deal of it on the disney side. Yeah, because i think one aft things theres 55 Million People who play fantasy. What people usually do is they have their lineup, they put their team on the espn site, but then they go to draftkings to play daily fantasy and daily fantasy is huge in this country now, i think Jason Roberts has done a fantastic job at draftkings, and disney had a stake, but now i think youll stay on the disney espn site to do your gambling and that is very pow
Cracks forming in the a. I. Led rally. Nvidia continued its decent today, dropping 5 the stock down over 11 from its alltime high hit less than a month ago. And yesterday, we got that warning from data dog, those shares fell another percent and a half today, the lowest close since midmay. And theres super micro, shedding 23 the Company Warning about weak demand for its a. I. Servers. The nasdaq closed below its 50day moving average for the first time in five months. So, is this the canary in the coal mine . Could there be more danger ahead . If we are to believe that a lot of gains were built on the promise of a. I. , and now there are cracks, guy, should we be concerned . In terms of demand . The storys intact, without question the run in some of these stocks, we talked about it, i think thats clearly gotten ahead of itself and you couple with what super computer said, with taiwan semi couple weeks ago, then you start saying to yourself, hmm. Obviously, its an industry thats coming ar
Record high amid massive inflows into Exchange Traded funds. The state of Digital Currencies amid that rally. Caroline apple facing weak demand for the iphone in china. The recently slashed the price of the latest model. We will discuss that and more. First, lets check on markets. The macro field to the day the pce deflator what is the Inflationary Pressure the Federal Reserve is looking at . Came in, in line with expectations. Write for the Federal Reserve therefore to be pausing on rate cuts. A relief to the market. We see 10 year yields come down from four basis points, down across the curve. Im looking at a volatility and a fear gauge that strengths shrinks less than a point. Look at what you are just outlining. Where the action has been is the technology, bitcoin, up 4 , 63,000 the previous record in november 2021. Where are you looking in the micro . Ed a lot in the earnings. Snowflake is the big mover, down 18 , but on track for its biggest drop on record. Two pieces of news. Th