Steepening and broadening and a lot more this is one of those rallies that not only is taking people by surprise, but continues to roll and were seeing major gap ups i was mentioning on squawk major gap ups in the morning more of the 1980s action and its very interesting because stan talked about his views of the 1980s and theyre pertinent as ever. We have incredible and we have a president who wants new highs and we have stocks that are recovering well ahead of the fundamentals but some people can say that is what should happen look at the airlines we are hhad some numbers from pl lebeau and almost as if people decided covid is over and its a vshape rally and you better get on board and that makes you a little uncomfortable. Well, i just think that the friday rallies, as sweet as it was off the unemployment number has not put out any sellers, carl and i often think that there have to be sellers at a certain level. I mean, can you really take the banks up so much when there was so much
On pharma. Eli lilly with earnings. Novo nordisk, the drug cutting risk of heart attack and stroke by 20 well talk to mr. Irgin and echo star ceo a day after s p and nasdaq broke the fourday losing streak, stocks back in the red financials in focus among laggards after moodys talking about Interest Rate and asset liability risk. Whats incredible is we just went through the quarters. With the exception of, honestly, key, the quarters were good. A lot of them had inflows. People thought there would be outflows david, when you see these kinds of downgrades, dont you see yes, yes, yes. Good, good, good. Done, done, done move on, move on, move on. You cant pay for this kind of analysis. No, you really cant. Its important because financials represent a huge part of the market, and if were going to have blending, we cant have as much lending thats kind of what were saying my problem with it is it doesnt jive with the facts. It was entirely possible, entirely possible we could have been in a s
Results in seven years. Apples china concern, data signaling a 19 tumble in iphone shipments. The worst performance in four years for apple in china. Lets begin with earnings as the markets look to extend yesterdays rebound rally. Jim, theres a lot of big industrials we can go to. I know we can focus on tesla. I want to focus on mary barra. She had an unbelievable quarter. When i say unbelievable, i mean they delivered on everything shes been talking about. They only want to make cars that they make money on cars and trucks. They did a very, very good job. We can talk forever about elon musk because elon musk is fascinating. Mary barra is workmanlike. Workmanlike is what works when youre doing cars. That raised guidance, david, was extraordinary. As was the beat, frankly. How is it that the analysts miss it by that much . Is that rhetorical . I dont know. It feels like thats not something that should be that far off when it comes to gm i agree. I was not modeling gm, but i was expectin