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But brad, welcome, its good to see you again. Great to see you. Thanks for having me. I wonder as a tech investor what you make of the nasdaq and that sector the last few days. Is it a simple correction or something more you probably saw last night i tweeted, pullback . What pullback . Precovid the multiple on the soft way growth index was about ten times sales it peaked about a week ago today were at 13 time sales were still 30 higher valuationses in software than we were before the paechbd. The same is true for growth internet precovid about 23 times next years ebitda. We peaked at about 35 times next years ebitda. Today were still at 32 times, so heart will hardly a correction in my books. Do you think some of these stocks got simply out of control in the way they went up parabolically . The characterization doesnt need to get worse. Its pretty good these are peak multiples for stocks in the middle of a Global Pandemic for mos ....
Three months 9 million jobs added after losing 22 million in march and april. Right my fear is that this may make it so that the negotiators for the package drag things out because things are better than expected so it looks like you could make a case lets be more considerate about this that would be bad because this number does not include a lot of reclosing, the biggest increase line item was bars bars and restaurants and we know that that backfired. So i intend to i think that its really important to keep the fire to the feet of these Congress People because, boy, i just dont think i think this is the last good one bloomberg is going with the headline that says the talks last night were rancorous and really no signs brink of collapse is one of the headlines out of bloomberg. Yeah. You dont think that the strength of jobs number today, jim, gives the democrats any incentive to blink ive been debating that all morning and i thin ....
The big boet on bitcoin thats got everyone talking. But first, we begin with a trip back to the future for the markets and this was flagged by our own dan nathan a year ago today it was trading at 2900 and basically back to that exact level and lets fire up the flex capacitor to see what life looked like and wow, the world would change this time last year the s p 500 would trade 17 times pe and the tenyear note, and unemployment j was just over 3. 5 and Flash Forward to today, it is trading 20 times, and the yield. 6 and unemployment is projected to hit 16 and gdp is negative for the first time in over a decade. The world has been turned upside down and the market doesnt steam to care. So if youre an investor, should you make like a tree and get out of there i am told thats a funny line from the movie youve never seen the movie i saw it. The movie was released in the summer of 85. I think i turned 50 that year. It dawned on me as i ....
Slowing economy. Joining us for the hour, stephanie link great to have you. What do you make of this market right now . I have fatigue over trade i really do. Its impossible every day it changes. So im trying to ignore it and focus on fundamentals. Today i thought we got some good data on the economy. The philly fed better than expected vince were better than expected meaning he they went own maybe were bottoming. Lets see the flash pmis tomorrow existing home sales up 5 yearoveryear good consumer, lets talk retail earnings have been very good Minus Department stores and some one office. I think that bodes very well for the consumer fatigue over trade but excitement over m and a. Very much so. Im still excited by trade. Im more excited about bristolmyers closed earlier than expected. Thats a great story for 2020. So theres a lot underneath the surface to this market of whats going on and thats what im trying to focus on versus t ....
Well take you live as impeachment proceedings, of course, continue in the house. And a china trade deal hangs in the balance. Welcome to closing bell, everyone, on this big day. Im wilfred frost. And im Morgan Brennan in for sara eisen phase one trade deal may not be completed this year. Retail is recovering with target and lows shooting higher on strong earnings and fed minutes just out officials seeing little need for further rate cuts. Joining us for the hour, josh brown, ceo for Wealth Management. Whats happening . The president stepping off the plane. Yeah. Look at this. Dow is down 142 points, s p is lower, too. Trade, is trade once again dictating the action again today . At the margins. I dont think the majority of Market Participants are making big changes in what theyre buying and elling. Even if theres ....