In the world corrupted you need to descend. To join us on the death. Or a mate in the shallows. As the us economy was booming growing numbers of people were made homeless. You can work 40 hours in a week and still not have enough to get housing everybody believes america still has the lead up to the reality of the years were not financially equality and the lack of Affordable Housing for a living minimum wage give many people no choice. Thats been a problem with the city knows turn a return call the stay way out almost. Half the food that there is no answer because yes that requires resources the most vulnerable are abandoned on the streets to become. Yes. This is the one business show you cant afford to miss im french born in washington. Following dismal numbers for u. S. Economic growth europe has followed suit taking a major hit as the go to 19 outbreak continues to weigh heavy plus as we discuss the impact of the pandemic on different sectors how are sports fairing we do a deep div
Look at the s p 500 at 2978, a 55point gain and there is the nasdaq the outperformer yet again, almost 2. 25 , 200 points, 9387 the nasdaq, not all that far away from last februarys highs, which our headliner says this hour is going to happen this year and not just the nasdaq so lets welcome in fund strats tom lee. He is joining us via skype tom, welcome back. Nice to see you again. Thanks for having me. Big call. How are we going to get there this year, tom you say 3450 is happening . Yes, and i think what really drives our view is that companies in the midst of the shutdown arent standing still you know, theyre reengineering their operations, learning how to be digital, run with fewer employees and less real estate so in 2021, as we exit this pandemic, theyre going to generate higher earnings on a lower level of sales and that means implied better pes. And thats why we get into july, stocks will start discounting that and were looking for new high hi highs. Youre looking for a vshape
Reportres whipsaw as a coronavirus drug failed in a trial. Lets get to the market. After two weeks of strong gains in equities, we are seeing a little bit of weakness. Yesterday, we saw the s p 500 close flat. Those shares moved around in that gilead report. Weakness in the asian session. About 0. 6es down percent. Weakness in european futures as well. The 10 year treasury yield steady, the bloomberg dollar index not showing a lot of movement. The aussie and kiwi underperforming. That is reflecting the risk off appetite. The u. S. Jobless came down yesterday. Quite a bit of bad data in europe and the u. K. Oil, what a wild wide right it has been. 17, brent up 0. 5 4. 5 . The u. S. House of representatives has passed a 484 billion lead package. It will replenish funding for small businesses, hospitals, and virus testing. Trump will sign the legislation on noon friday. This comes as u. S. Cases rose at the slowest pace in three. Joining us from new york on very hard earned. Annemarie. Wh
Our Investment Committee today will debate it we are in the red for the s p and the dow. Were off the session lows like carl pointed out, it may have had something to do with the headlines coming out of the new york Governors Press conference where he mentioned a phased out idea starting this friday the dow industrials only down 140 points the s p down the nasdaq is tech stocks up half a percent 9165 the level there our Investment Committee are making some moves today. Steve, youre seeing a couple of things happening in your portfolio. What have the recent moves done whan and what are you trading in and out of im not trading out of much i did sell some peleton. It worked out tremendously well. Not quite a double but fairly close. I still have some left what ive done is and i did this on friday afternoon is i added to baba in expectation of disney opening in china because i thought that would lift the market ill reduce that position back to a core position i bought some out of the money
Numbers for the Global Pandemic now show more than 3700000 people are infected with a krone virus more than 260000 deaths have been recorded will the u. S. Has more than 1200000 cases and at least 43 states actually plan to open completely or partially reopen their economies by this weekend this while president appeared to reverse course when he tweeted earlier ones day that the White House Task force will continue indefinitely with its focus on safety and opening our country again he also reiterated that earlier during a briefing well tensions between the u. S. And china continue to rise as the u. S. Says its pushing for transparency heres how this could get sold really quickly the Chinese Communist party could do what theyre committed to do under their obligations to the World Health Organization to be transferred to be open to do the simple things that they. Its all around the world do to make sure the pen demick like this dont get out of control and in fact importantly stay out of