87, the s p 500 is up 10. 5 this month the russell 2000, the biggest ever month live oly outperforma small caps that sort of sets the scene for us your note today to our producers to me says everything, bryn. You say, yeah, were overbought, the market is technically ahead of itself, 200Day Moving Average but wed be buyers anyway yeah, you summed it up perfectly. I think to give some perspective around that, when youre looking at technicians or technical calls, the 200 Day Moving Average, over 90 of stocks in the s p are over their 200 Day Moving Average when that number gets above 80 , thats typically a time to take a stand back as a trader as an investor, though, as we are, you want to take a look at that and say, hey, if we get a selloff, which im sure well get because thats just the price of admission for being an equity investor, we absolutely want to be in stocks because what are your alternatives cash or bonds . And both of those offer you no yield and so we also think that next
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 its 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 ecommerce to the home because of the pandemic so how can there be such a structural thematically strong story behind ecommerce 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 whats really convincing here with fedex is that theyre talking about how theres actually a weak economy in the S
We can get above that 200 day. I have to tell you, once again, what causes a decline its always the banks. Why the banks . Because we cant value we cant value them because we dont know what their future loan losses are going to be. I think that the feds chilling statements made for a tremendous confusion because, remember, weve been skating everybody has been saying how can the market almost bet a its high the answer is because we dont have any data. No real reports that contradict that i didnt like the nike quarter, but people already apologized for that it is the banks and, once again, when i think of the banks an article today about credit cards and how people arent taking the big credit cards with the 400 and 500 fees. David, the credit side continues the buyers jim, that is really interesting to see when we start to get the earnings where the focus of investors is. After the close we get jeffries. Investment banking not overry large but what will be interesting, jim, im sure well
The Leadership Group right now so joe terranova, i go to you on that note, the melt up in tech seems to be picking up we asked the question whether the growth tech stocks wrestled the market back from value and then thats where the money is going to be made Going Forward clearly the mega cap growth names have wrestled the market back theres an added dimension to it, scott, being popularized in a lot of Research Notes im reading. Pippa stevens of cnbc has a great report element of esg investing and something i didnt think about in prior weeks but if you take all the esg funds, the largest esg etf, its popularized by all the names that youre talking about. The apples, the amazons, the microsofts, so theres an added element to these hyper growth names that are not just about the quality and the cash Balance Sheets and the very visible return to Earnings Growth but an importance as it relates to social and governance and youre seeing a significant amount of fund flows into esg and thats ev
The Halftime Report starts right now. Welcome, everybody. Its great to have you with us on this tuesday. We have a spectacular Investment Committee today as well. Yeah joe taranova, john and pete, kevin oleary, cnbc contributor, guitar player and youtube chef star well get to that in a minute. Bryn talkington from requisite Capital Management and Jeff Killburg of cck financial. Thank you very much. All right. Let us start now with the financials i think this is one of the sectors with Interest Rate moves and their relative importance in the markets, have you been happy with the numbers goldman, jpms you have seen very happy. Im long jpmorgan, citi, results from the financial everyone on the desk has done a fantastic job about talking about the potential opportunities. Pete and john had unusual activity in the last two weeks or so in the financials. Listen, if you could finally get kevin disagrees, but if you could get the financials to participate in a market that looks like its not pr