Ive got to go to the pandemic and the fold in to our foundations of this coming quarter, our foundations to 2021. Youve got to comment on what the eu saidd yesterday. Jonathan a call for more fiscal stimulus across the continent as well. Christine lagarde pretty clear about what she wants to do in december. The colder it gets, the harder it gets in europe. Cases are going up. More restrictions are coming on. Big question for the United States, whats next the deeper we get into winter . Tom weve gone back and forth this morning with differences of opinion. It is a movable feast. I would say that the one item this item as the president adjusts his plans for what he will do Election Night because of the pandemic. He had plans to go to his hotel. He will not. The rumor is he will stay at the white house. Jonathan according to open what the new york times. According to the new york times. Lisa we will get some earnings from exxon mobil, the thirdquarter earnings. The reason i am interested
Heavily political negotiation we said we cannot tell what is going to happen. The market seems to believe there will be some kind of stimulus, the dow up this morning up 150 and nasdaq of 171. Plenty of green on expectation of a stimulus deal. As for the white house, doctor sean conley says the president has responded extremely well to treatment. And expects him to return to public engagement, mr. Trump is going to do just that, hes going to florida for a rally tomorrow. Speaker pelosi questioning the president s fitness for office, she intends to bring up the 25th amendment to the constitution which is about the presidencapacity to function. On the one hand they negotiating training in dollar stimulus plan and on the other the speaker questions mr. Trumps ability to run the country. To the debates, more confusion. Mr. Trump will not participate if its virtual, joe biden says he will be there anyway. But he has scheduled a town hall with abc on debate day, october 15 and a raging debat
First, todays show is brought to you by the letter b thats because bond yields, bullion, big cap tech. Fed chair Jerome Powell gears up for a high stakes speech from jackson hole summit. With bullion up, big tech up, what is up with the market as we gear up for powell, guy . I like to hear you say bullion. I feel like im going to have soup or go back to doing what i used to do back in the day its wonderful you can do an entire show saying that word. Whats up . Risk assets are continuing to go higher based on we talked about this a couple days ago, the fact they said they will be a historic speech for the fed in the way they view inflation, the way they measure inflation and thats why the market took off and i think thats why you saw it probably move today into that speech the things you didnt mention and forget it but they didnt rhyme with b or start with b the russell was down today and the vix closed north of 23 those are two very interesting things to take into consideration along w
Flying tech name your Investment Committee is stephanie link, josh brown and michael farr great group. New highs earlier on the s p 500. Markets have cooled off a bit. You have the dow down 182. Apple is one of the stocks ma weighing on the dow. You sold 20 of your positions in apple and nvidia. Are you sure it was hard to find a buyer . Love you, sully i dont know why were saying this is a big move or bold move. They hear the part they like its the opposite of a bold move im playing chicken. Im saying nvidia and apple have become too big a part of my portfolio. I have tons of apple exposure elsewhere. I own the kwqs everybody owns apple my lifetime exposure to apple is high all im doing is keeping 80 of my position inted of 100 . Its not that bold im doing the same with nvidia these stocks have plooned. Its like risk management. I dont want to be out of these stocks i just dont want to live my entire life based on how they do each day this is what all prunts investors do its what im d
3 yesterday so it is the year to date momentum names in technology and large cap growth that are taking things there cloud stocks, the Broad Software group, ecommerce, all those baskets are up 2 or so today, so you know, at a time when people are unsure about the fiscal package getting through and maybe what the pacing is of the domestic economy, kind of the old reliable move is whats working for now but as you say, the Broader Market is kind of on the softer side for the start. Julia, a bunch of Technology Names that have dipped their toe or maybe a couple of legs into media also higher this morning looking at amazon, up 1. 5 , alphabet up a little bit more than that. Netflix itself, which is all in on media, of course, up better than 1 . That trend continues and of course, we have to point at tesla, those shares up about 5 and just look at tesla, up 290 year to date, john, just really striking in the context of Everything Else today. Yeah. Needhams chris wrestler is going to join us