Been this year. Atcoin racing ahead, sitting a price level we have not seen since nearly three years ago. But, maybe investors taking a pause is the right thing to do. Sales u. S. Retail reminding us that another round of stimulus has not yet been passed. Sales gained. It is a tugofwar between vaccine boom and virus gloom. Joe things are not great in the short term. In the longterm, the vaccine making people optimistic. A lot of this bullishness reflected in the bank of America Monthly Fund manager survey. This tends to happen. Stocks go up, people get the list. This is the percentage of respondents that say they are overweight equities. 20e is a chart going back years. Half of respondents saying they are overweight. Very bulledlearly up. This past year, so much residual skepticism, lockdowns, election risk. Excuses to stay on the sidelines. One by one, those excuses have fallen. Now, all of a sudden, everyone is bullish. Like the lastems few times we reached this type of enthusiasm, e
Street has continued to underestimate the strength of the u. S. Consumer. In the northeastern sun belt that theigns coronavirus outbreak is continuing to ease. However, the fed remains cautious for the second half of the year. I want your take away. What was the main reason for you with the target report . Joe basically all these gigantic retailers, they are all killing it. You had a little bit of differences between them, whether it is target or walmart or cosco or amazon. All these companies are doing phenomenally well. What was striking about target i think is that unlike walmart, its not seeing any signs of meaningful deceleration in growth with the expiration of the employment insurance expansion. That is one of the biggest macro questions right now for the economy, for everything. Which is ok, we have had this rebound in the economy largely thanks to the stimulus. What happens a longer we dont have a deal . Romaine there is a question to how much the stimulus paid a factor in tar
Protesters brought the citys financial district to a standstill. Teargas disrupting the commute for a second consecutive day. Executive carrie lam says she still hopes district elections will be held as scheduled. We still hope we can hold the elections and try our very best to do so because it is an important election to respect and safeguard, but theres the issue of safety in order, so we have to work hard to satisfy these two requirements. Alix 20 meet on the phone from hong kong is karen joining me on the phone from hong kong is karen leigh. What happens next . Karen carrie lam urging order, and at the same time, we had two days of really jarring images and clashes, especially here in the financial hub. These arent images weve seen before. This feels like a bit of an escalation. This is something that led police this afternoon to warn that the city was on the brink of total breakdown. Carrie lam talking about how she still hopes district elections will be held in a couple of weeks.
Anna any hint of stimulus. Mario draghi delivers a pitinos a keynote speech with investors scanning for close on policy. The fed begins its two day meeting. Airbus gets a boost. American air is assessed to be in talks to buy 50 new alienfter they hand in 11 dollar deal. We are live at the Paris Air Show. Money as phils tronic cuts fullyear Sales Forecasts. What looks to be less than expectedly sunny conference. Is quite do me and gloomy here which i think is fitting. We look at treasuries, yielding almost 2 right now. Winds yielding negative, 25 basis points. Yesterday we had olivia saying basically that the ecb no longer has the tools it needs to confront if we were to say one, even a mild recession that governments need to be spending more money, fiscal policy needs to take center stage and that is unlikely to happen since the germans are the only one with any money and they famously do not like spending money. Everyone else has budget surpluses that are pushing up against the eu rul
Cramer, faber is off president is in wisconsin, surp positive, yields tick up on decent core ppi. Tech stocks taking a tumble. Treasury is out with its plan to loosen Bank Regulations and is the worst over for under armour . The stock having a nice bounce after the warriors take the title. First up, tech stocks looking to rebound from their worst twoday streak of the year jim looking at some of the percentage declines for fang, somewhere in the 4 to 5 range. What happened is you didnt get followthrough other than the negative apple you got a downgrade of adobe that lasted for about 30 seconds. There were no substantive calls and by the way no preannouncements that these great tech selloffs that weve had there usually is a linkedin tableau data, upgraded today by goldman. Theres something to hangon to which says tech has slowed down but we didnt get that, which made it so it was more of an air pocket than it was the beginning of some gigantic rollover. Just didnt get it i was looking fo