Still lots of questions swirling an tech. Does the turbulent in tech continue, do you think by the way, value has been leading lately and thats a story in and of itself yeah. You know, a whole host of folks said that would happen, eventually, scott. From tom lee to Larry Mcdonald and so forth i dont think the story is over for tech you and i talked about that monday i said i think that we are unlikely to test significantly lower in tech. Yet, here apple is back down on the lows of the last several months, scott. Ive noticed a lot of those value plays that you discussed, for instance, infrastructure plays in particular. Steel, mining, things like that. Getting lot of money flow, a mean a lot thats worth noting. To your point, thats partially why perhaps people are using tech as a source of funds. I dont know how long that lasts. I certainly am not betting that it lasts very long as far as tech being a wreck and value being where you want to be thats the way it is for the last several se
U. S. The global focus. Ines surged cases surged california and texas. Walmart demands customers wear masks. Knowing green. New south wales has a new plan for renewable power, energy and the environment. Quick check of the markets, u. S. Futures opening flat. This after u. S. Stocks climbed to a fiveweek high in the regular session. We have 10 of 11 s p 500 sectors closing up. He had vaccine developments bringing this rush of optimism to financial markets. This, despite escalating tensions between china and the u. S. Moderna and astrazeneca are rising on the optimism. More positive ecodata, u. S. Industrial output rebounding in june. Pickup in Economic Activity. Take a look at what oil is doing. Under a little pressure, headed towards the 40 per barrel level. This after jumping to a four month high. We had strong ecodata and we have President Trump indicating he doesnt want to add more sanctions against chinese officials for now, not to mention a report on a drop on u. S. Crude stockpi
How that is digested. We will carry on the conversation talking about the virus. Trying to get an understanding of what is going on in terms of the case count. We are going to be digesting all of this. A Columbia University professor will join us to give us her take on what is happening. The Planet Fitness story is part and parcel of this, the closing of bars, and the fact we did not see the big blm protests picking up the count. We will be talking about that later on in the hour period alix . Alix a great headline. Bars versus beaches and how we open up. That is an Investment Strategy . Ward, joined by karen chief market strategist. Karen, we have noticed the uptake in certain states in the u. S. While europe has been opening atively successfully think you start with the macro story. Hass true that europe overcome the virus, partly because they met some of the were aons, which sustainable reopening. The virus was already down to sustainable levels, and good track and tracing. Those we
Its been an unstoppable run for this stock up more than 160 from its lows in late march. One analyst think its got even more fuel in the tank. He will joins as power lunch starts right now the dow is higher for the sixth day in the row thats pacing for the longest winning streak since september lets get to bob for more on the markets. We are sitting at session highs. A little pop about an hour ago that was declared we had entered a recession in february. Let me show you because once again its the reopening story thats moving the tstocks laggig two weeks ago had been leadership groups. Tech is under performing its very interesting how its underperforming. Its not like they are selling them the volume is light in this sector its not a lot of buying interest the same with megacaps you know about the megacap leadership apple is at a new high this is another interesting group. Visa and mastercard have been monsters they have showing some lack of interest today a bit of rotation as we go int
Lets look at the boards. S pralia, new zealand, downgrading the outlook for australia to negative from stable. Open toand, increasing qe. Looks like they are willing to extend bond buying. The csi 300, still a little bit of pressure after the threeweek highs we reached yesterday. The nikkei, pretty much flat now. Like investors were taking this state of Emergency Declaration in stride. Saying we could be a very good chance of hitting a bottom. Watching currencies. Seeing so many go back to the yen. The rupiah just coming online. We have learned that jakarta ordered offices to close. They are also banning gatherings. The offshore renminbi still seeing a bit of weakness after we did see some strength. Yield, chinese 10 year we certainly saw the yield at 2002 lows. Tom now lets focus on the lockdown in the original epicenter of wuhan, which has been lifted. The situation is still far from normal. Complex restrictions are in place and there are fears of a second wave of infections. Darren