Halftime report starts right now. Welcome. Its good to have you with us on our wednesday. Jim lebenthal, Pete Najarian and from naples, florida, lizann sonders. Highs of the day, approaching big numbers, dow 30,000, nasdaq 10k, not that far away and cooperman weighing in on the state of stocks, telling us its not time to worry, yet. I would say were in the early stages of knocking on the door of euphoria but not quite euphoria certain parts of the market, like tesla, are in euphoria. Other parts, like energy, are in pessimism. These big numbers not all that far away, pete. All good, the market depends on what were focusing on. Are we focused on the coronavirus . If so, we go down. Generally were focused on earnings and we go higher. Thats where the market has been trading. Yesterday was interesting because apples with a little bit of both, right you look at apple. It was getting pushed down because of their guidance about what they were facing right now, what they were seeing Going For
You havent had that and i think looking forward when youre trying to understand where you go with retail, understand that just because chinese consumption might increase on the part of the consumer the u. S. Consumer is going in the opposite direction. Im looking at names like i just pulled up el, estee lauder. If we think that consumer in china is about to turn a corner, if you believe, you know, donna hoe has good visibility over there, been over there a couple times, what he saw, stock up 2 1 3 , there are other names super reliant on the Chinese Consumer getting out and spending not only in the mainland but certainly around the world. Absolutely. And i think, you know, the Chinese Consumer also has saved significantly during the pandemic years, more so than u. S. Consumers so there is a lot of cash sitting on the sidelines leading to potentially be spent which could be pretty powerful, especially for some of these companies where stocks are down and out. I agree with joe that the u
After spending most of the session in the red, the dow ultimately advanced. And the nasdaq dropped. 33 . Its got me thinking. Why did you have to go and make things so complicated . I mean, really, only this market would confuse somehow the huge break plummeting gasoline is giving to 370 million americans and act like thats bad news got me frustrated. Instead of rallying. And you fall and you crawl and you break and you take and, frankly, bears, you look like a fool to me. All right. Lets consider whats happening here with the dramatic decline in oil. And it is a punch. First, theres the consumer. Lets see you fill up your car twice a week and costs you 80. When oil was over 100, okay, which was the case for a considerable amount of the year. It now costs about 60. Youre saving 40 a week. Cancels out to 2,000 a year. Something that looks increasingly likely, given the velocity of the decline and the surplus supply that is still hitting the market. The house of pain. How does the stock
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