I think we should start by checking where we are. Were in the midst of a big snap back day the dow is back over 20,000. Pushing a 9 gain of 1600. The s p good for nearly 8 theres the nasdaq as well up close to 7 . Have we turned a corner . I dont think so. I think technicians is what is referred to as a counter trend move its nice to have. I think people could use a break from just the persistant and constant selling were looking at stocks in the s p 500 be p t the percentage of stocks making fresh hundred day lows that number is slowing down. A few days ago it was high 80s right now its low 60s i think thats pretty good i think well take that. Again, these are the types of days that give you the opportunity judge, if you were panicking and you felt you were too exposed, this would be the kind of day if youll lighten up from a 60 40 portfolio to a 50 50. If you look at the biggest names its happening in areas that have been thrashed mgm up 33 Royal Caribbean up 31 im looking at ual up
Take a look at what happened overnight in asia. The nikkei up about a third a percentage point hang seng was flat, shanghai composite down red arrows across the board. Ftse flat at this point. Cac in france down by. 4 of a percent. The 10year right now looks like it is yielding 1. 63 those continue to wick up ground 30year 2. 1 the count down is on. Apple holding a launch event expected to launch three new iphones. Fee occurs may include upgraded processors and new camera functionality. We could see a new apple watch an apple watch was not worn bio d Odell Beckham hes in trouble for wearing a hard object. People still wear watches for different reasons. Jewelry anyway. Including streaming and service. I dont know what odell was using it for maybe he said, it is time i Start Playing better apple products working into team it wouldnt be a matter of cheating necessarily unless you clocksomebody in the head with it what was the score . These are the new browns, right. Welltalk more about p
I want to start off by sort of taking the temperature here. I want you to listen to what the former twitter ceo had to say. Frothy. Word association. Late stage private valuations are quite high. Its just too crazy right now. Its got all the sort of hall marks of that 20002001 where you are like this is getting it feels like that with just the prices youre seeing being paid for things that dont even feel like they are really working at scale yet. Those were interesting comments yesterday. Do you dproagree . Its a good place to start to not disagree with dick when it comes to perspective on Silicon Valley. However, i would say comparing it to 2000 and 2001, we are under two on the ten year. Multiples are an inverse of that. I look at it. Our Gross Software index is off 30 from the highs. Certainly, we can point to examples. Were going to talk about them today of late stage private valuations that are high. We have a tremendous amount of capital. But i would say as a general matter, i do
Misinformation as elon musks x faces backlash over changes to its content Safety Policies. Caroline and well return to the trial of freed as it enters its second week with a key witness taking the stand. First, lets check in on these markets because as we see the geopolitical tensions, we also factor in what that means for macroeconomic policy here in the United States. Many are dialing back the anticipation of a fed hike coming in the next month. Nasdaq currently up. Were looking at a 10year yield after being shut yesterday, the bond market reopens with a significant move to yields to the down side. The vix also does back that volatility, that fear index, just off by one. Lets have a look at whats really some of the assets that are focused on israeli tech. This is the e. T. F. Weve shown a light on yesterday coming from arc. The arc israeli innovation e. T. F. Managing to bounce back a little bit today. But dig into the microfor us. Ed there are a few new stories and movers out there
Halftime trade alert from bill baruch he does join us because he has bought crowdstrike why did you do that . Good to have you on. Tell us about this trade and why you decided now is the right time thanks for having me on we know crowdstrike had a big reaction after the Earnings Report earlier this year, and then it sold off pretty well we stayed away from traditional Cyber Security over the last year, and really missed a name like this in the bull market in 2023 not saying we have quite a bit of exposure in names like nvidia and others, but one of the reasons why i stayed away from traditional Cyber Security was a fear that the hyper scalers were going to roll out a really Competitive Edge in the securities space and useers that were already on their platforms would begin adopting such. Anecdotally, i had a conversation with dan ives earlier this year in february and addsked him how he feels abu it theres nobody better to ask his response to me was, ive been getting that question ever