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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 < ....
It is healthy if we have cyclical sectors doing well. On the other hand, and on the idea we are recovering are going toward a reopening, if you have the stayathome stock such as the apples and amazons or some trades. Ther it will be interesting to see how this works out. Right now it is resulting in jitters. That with warned us the fans they might have gone too far, too fast. Youve been warning us. What about the news of a possible vaccine . That seem to capture the markets attention for a wild. Abigail , it did, and actually yesterday, too. Produce that bullish open. Behind the scenes on the day, it is coming down to the dollar. We have a strong inverse relationship as happens in certain periods of time between the dollar and stop in risk assets. Today we have the dollar down. 5 . Now it is down. 3 . That is incredible sensitivity to a change of just. 2 over last month. The dollar is down, the s p 500 is up. Up, the year, the dollar is the s p 500 is down. That subtle nuance happening ....
We were talking about it with some of the smaller and midcap names. We saw some of the cruise line stocks, the casinos. The restaurants were on fire. Cracker barrel up 9 , 10 . Dont you like that . Caroline i have not been to a cracker barrel. Romaine exit through the gift store. Taylor this really all comes back to the data that we got this morning. June Industrial Production and july early numbers out of manufacturing all betterthanexpected. Are hearing from dances of the of Richard Bernstein advisors. Thank you for being with us. You take a look at the positive economic numbers. The big outperformance in the russell 2000 today. You said you were a little overweight on u. S. Versus the rest of the world. How do you think about that Going Forward . Smallcap producers getting a big win . Dan i think modest overw ....