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Stimulus bill. What happens if washington lets us down again and millions of people, especially in the hospitality industry, find themselves struggling to put food on the table . Does that mean we should use a day like today where the averages went up dow gained 122 points. S p climbed 0. 80 to sell everything into strength not so fast. Like i say every night at the end of the show, there is always a bull market somewhere, and even without a stimulus package, weve got a whole bunch of them that should do just fine as a matter of fact, theres a lost of breadth here first, the relentless bull market in housing. You can think tall brothers, dr horton, these companies are huge kinc covid winners. When youre stuck working from home, your housing priorities change who wants to live in a tiny apartment in the city to save time on your commute when you have no commute. This is the zoom economy, people you might as well move to the suburbs or the country where you can have more room thats why t ....
Here lea lets debate that today. Good to see everybody. Lets take you right to the boards and show you where we are trading. The dow is at 23 about 300 point gain S P Still Holding on the a 1 gain as is the nasdaq. Theres a russell at the far right hand side of your screen up just about 2 all right, jim, youre holding onto this cash we have come a long way from the bottom s p is up 26 . Nasdaq up 25 take stock of where we are and where you thip we may nk we may here taking stock of where we are, the price market has priced in var shaped recovery in economy and profits. That shows that 2021 earnings, they are looking for the best ever i disagree with that i think you will see a recovery in 2021 but not a v shaped recovery, a u shaped recovery. As the stock market comes to grips with that, im still preaching caution and patience i see the move today and yesterday. I have the 12 cash. I feel a bit uneasy about it i got to say i ex ....
Reporting this week for the s p 500. It might provide some we can do some glimpse into how companies are thinking about the future. Of those companies is united airlines, already saying it is going to have a 2. 1 billion loss, and that is just the beginning of the pain. It is cutting 90 of its capacity in may, and similarly will do Something Like that in june as well. It will get about 5 billion for the u. S. Payment program. And we have the 10 year yield at 63 basis points. We get more Economic Data this week, including initial jobless claims, but also pmis, new home sales, and so on. Those are all going to show dire readings and are not going to be really reflective of how the economy moves forward, except to suggest that we are definitely in a very thick recession. Guy lets take a look at what is happening here in europe. Meansis down, but by no down as much as it is in the ....
I also have a great guest for you, michael kolanovic, j. P. Morgan, he thinks the bottom is in and hell be here to explain why and well talk about what hes seeing and why hes studying coronavirus trends around the world to try to understand the stock market, netflix made a new high. Bed, bath and beyond, that stock is up a little bit after hours and its down about 80 over the past year. We got a triple whammy we have to start with the market bad data on retail and oil falling to 20year lows and the banks continue to drop on their earnings concern guy adami, of those three because i would argue and i didnt think data mattered at all, of those three which one matters the most to you . I think the fact that oil cant get out of its own way out of those three the way that banks have traded, we can talk about that, but the way the data we knew would be miserable and maybe its worse than a lot of people thought and the bloviating and the noise, it cant get out of its own way and the rally las ....