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Stimulus bill. What happens if washington lets us down again and millions of people, especially in the hospitality industry, find themselves struggling to put food on the table . Does that mean we should use a day like today where the averages went up dow gained 122 points. S p climbed 0. 80 to sell everything into strength not so fast. Like i say every night at the end of the show, there is always a bull market somewhere, and even without a stimulus package, weve got a whole bunch of them that should do just fine as a matter of fact, theres a lost of breadth here first, the relentless bull market in housing. You can think tall brothers, dr horton, these companies are huge kinc covid winners. When youre stuck working from home, your housing priorities change who wants to live in a tiny apartment in the city to save time on your commute when you have no commute. This is the zoom economy, people you might as well move to the suburbs or the country where you can have more room thats why t ....
Hello and welcome to tonights virtual Commonwealth Club program. My name is read and im a Technology Reporter with the Washington Post and im pleased to be the moderator for tonights program, the historical importance of the transformation brought on by Artificial Intelligence and virtual environment. As we have seen over the last three months with the covid19 pandemic and with social media with the killing of george floyd in minneapolis and the aftermath , technology and online environments that every aspects of our life here tonight i am pleased it to be joined by two Silicon Valley pioneers to discuss these issues. William davidow and Mich ....
It has been a choppy session. Down. 1 , while the nasdaq is up. 2 . The dollar index is strengthening. 97. 55. We had a drop in the 10year yield, we are back at 70 basis points. Lets get some details on what is moving in the market. Scarlet fu is with us. A mixed trade across Asset Classes. Certainly within equities. The backdrop is the next Economic Data we got. The philly fed numbers were interesting, in that they confirm the empire numbers from last week, back in expansion mode. Manufacturing is no longer contracting in the region. All of that is helping to lift the city index to a record high, spate ofg that recent better than expected Economic Data. Oil approaching 40 a barrel. Iraq says it will begin complying with opec production cuts and is working on a program to compensate for cheating in may. It is curious it is ....
Wednesday and this morning, dow indicated down about 170 right now. S p down 21 and nasdaq down by 58 just 4. 5 from its alltime high more about what it has been doing well the nasdaq 4, 6 or whatever you dont call it the nasdaq 100. It is concentrated i heard Brian Sullivan saying early that of the nasdaq 100, that 35 of those companies are trading 10 higher or more for year to date not the full year but year to date what weve seen this year broadening out a little bit there is the big chetech and the big tech that seems to be well suited for what we are all doing. Not a total surprise oil hasnt hurt either remember, it was the may contract when it expired at the end of may something theyve never seen us before wti back up to 34. 07. That tells you what people are anticipating it has rallied 70 and only at 34. Right tells you a little about what is happening here also take a look at treasury yields we are around 21 for the 10year ....
And ive been thinking about this opening and closing as less of an open closed society and more like were a rubber band and we need to start stretching to put people back in contact but we have to do it carefully and with a planned strategy or were going to end up where its going to snap back on all of us and were going to be back where we are now social distancing from one another in a more extreme way. I think what needs to happen over the next several weeks and months is that states should be opening slowly and considerably with very consistent metrics. I think that we have to have the kind of testing that everyones thinking about and the ability to train and isolate those positive in all states before we begin opening up and certainly before we begin having any very large crowded events. So the thing thats really keeping me up right now is sort of the lack of a unified strategy the way thats happening in a slightly more piecemeal way across the country. So i think first is that we ....