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Realize that this lawns full of weeds and dead grass and bugs and a golf ball okay, this is what the market is really about not this, but this see how the averages rallied again today, the dow inches up 47 points, s p advancing 2. 3 . The nasdaq gaining 1. 06 but almost 3 5ths of the stock in the s p 500 are actually down for the year were in high territory because of the other 2 5ths up a lot heres the real economy. The truth is, the weeds are more representative than the healthy patch of lawn, and in many ways its getting worse, not better, as the weeds begin, i think, to infect the nice part but when you look at the whole s p, you cant see the weeds you see, theyre obscured by Tech Companies with big gains. Who wants to talk about the other 291 stocks that are down for the year when you can focus on the incredible runs in amazon, microsoft, apple, facebook, alphabet its a lot more fun talking about tesla, up 378 than talking ab ....
Is it a u . Maybe its an l. Or perhaps its a z. Or maybe its a w. Or a nike swish. We keep hearing people argue about the shape of the recovery. But this whole debate misses the point. The defining question of this market is very simple. Will we have a depression . Anything that makes a depression less likely causes stocks to explode higher thats what yesterdays rally was about. Even though we gave up some of the gains today, im calling it a consolidation day no matter what dow sinking, nasdaq dipping 5. 4 when you have a bag r big rally yesterday and it us diddant give up everything because of a Late Afternoon sell off, it is a of a kelgs. The issue is not whether well have a rapid v, recovery u, bounce the w, l shape, i dont know the l, of course, is the house of pain for ages maybe we havent started talking about the swish because of the Michael Jordan series. The market s ....
And thats when the Trading Halted it slowed some of the panic selling, the machine selling and at the end of the day, still down more than that for the dow futures for the dow a decline of more than 2,000 points. Youre looking at a big bounceback but only half of the declines from yesterday. Up by 1100 . It found some support and then it was down 5 and then it closed about where it was indicated to open. Right. But we kept saying what if the garden variety correction is 12 we got a pandemic whats a decent where do we got an additional 18 or 19 yesterday. Well, in total. Down down 18 or 19. Yeah. If it goes from here up 1,000 today youll once again be the call of the bottom you will be ill take it. I hope im the call of the bottom. I hope you are too. But its just consensus. Just the feeling that everyone has at the same time that you express. Thats all it is thats many times that is the indicator. Do you think do you think we have ....
Good thursday morning. Welcome to squawk alley. I am Carl Quintanilla with Morgan Brennan and jon fortt at post nine of the New York Stock Exchange getting close to new highs well start with facebook. Mark zuckerberg goes to the hill today. Were getting news out of the company on new ad formats as well Julia Boorstin has both those stories. Good morning to you Mark Zuckerberg is making the rounds in washington, d. C. , meeting with legislators, looking to regulate two areas, one, facebook privacy policies, two, responsibility for inappropriate, manipulative content on its platform. Zuckerberg met with democratic senator cantwell and also attended a dinner with mark warner and senator blumenthal also ....