Value and cyclicals are doing better than tech tech just in the red energy and financials at the top of the pile. Stephanie, are we getting a rotation, the start of something that might last a bit longer than it has done ever before well, you know my position. I own a bit of growth and value. Im hoping value has its day in the sun. What you need for value to work is better growth and also a higher expectation for inflation. While we are Getting Better growth sequentially. Youre not getting anything close to inflation look at the ppi numbers today. I think this is why a barbell strategy makes sense people will still want secular growers that can participate many some very powerful themes you want to be price selective but you want to have exposure there but exposure to the cyclicals if you believe the growth is going to improve and that will lead to inflation. My supply is up 25 year over year thats a big number. That will come home to roost, i think. One last point, i would say on valu
The nasdaq is tracking for its longest winning streak since december bob . Good news, were just off the highs for the day. The bad news is financials are again not participating in the rally and they need to to really move us forward. Lets take a look at the sectors, as you heard from kelly, it largely tech, semiconductors, internet stocks, the whole technical sector is doing well, Consumer Discretionary tech oriented to an extent, industrials flatter, generally underperforming and banks not even in positive territory by and large we told but the new high on the mega caps. I dont know if you realize how theyve rallied off of the march lows facebook is up nearly 78 , apple 75, amazon 70, microsoft and alphabet, even alphabet is lagging, 46 off of the lows, far outperforming the overall Market Software in general has become really important so if you look at right around here we see new highs in adobe and electronic arts, auto desk, service now, which is the Cloud Computing company. That
Getting back to work versus the Public Health interests here billions upon billions of new debt has been issued, as companies try to fortress their cash hoards. Well talk about the big debt bomb that may be looming and later, the cleveland fed president horror retrloretta me join us to talk recovery and whether the rates are really on the table or not cannot wait for it. Tyler, thanks. Its the financials and the Energy Sectors which are leading the declines again today for more on the selloff, lets get to Robert Pisani hi, bob. Hello, there. And two buckets here this is about the reopening and its about questions on the valuation of the market and the big rally weve had. 60 of the losses weve regained here thats whats going on here. And you can see it in the sectors. Tylers absolutely right banks just having a horrible week were down like 13 for the banks this woke. This week the russell 2000 is getting clobbered. Retail has been drifting lower as well. Energy down about 8 or 9 , resum
Reopening process going. Look, it does feel that there is a very self confident sense by governors that its time. I think that the president is so oriented towards its time, and the president is soed ed ed eet in having a vaccine by years end, that theres an element of two different worlds here. Theres the real world influenced by the president saying open it up, people want to do it, and the stock world influenced by Warren Buffett who said i sold the airlines because that industry has fundamentally changed. Its a big gulf. Really the largest ive seen amazing. David . Sorry, carl weve been talking about that for weeks. The many phone calls that you or i will have with Business Leaders who are focused on maintaining their liquidity, focused on just being around to fight another day come the end of the year. The many ceos who join us on air who constantly talk about their businesses not coming back to the levels they were prior to the virus for maybe two or three years. Now they may be
Bremmer, and Gabriela Santos the dow is down now almost 700 points again coronavirus fears sending the market plunging. The dow falls at one point more than 1,000 points at session lows all sectors going into correction territory which means 10 off their highs. Stocks are off to the worst level of the session after jay powell came out with a statement saying the fundamentals of the u. S. Economy remain strong and bond yields are plunging again sending Mortgage Rates to their lowest levels in eight years joining us for the hour, the final hour of trade is lindsey bell from allied invest. Also with us is senior markets commentator mike santoli as always to take you through the bell lindsey, what are you getting from some of your clients and what are you telling them . Our clients are retail clients. They are definitely concerned. So were telling them first and foremost, please do not panic. This is why you should have an investing plan in place. And always go back to that plan to reasses