Mike, this morning im zeroing in on enterprise, looking at zoro down 30 right now. What is interesting to me about these names is they both got a big bounce after sales force and workdays earnings reports but theyre giving that back today and then some. Investors seem to maybe be realizing that these names are tied more to overall Enterprise Spending it has not been great versus that sass exception that we saw. Im wondering what you think of what is happening in that space. First the rhinoceros horns at the end tell you something the hottest money, the ones that went the way up, the last spurpt is being taken out i think that this is happening in the context of what many of us have been saying. The market looks a little stretched. A little at the high end of its up trend it should cool off and it was pushed and pushed and pushed a bit higher in part because there has been a welling up of kind of momentum, speculative action, partially in the market some kind of an unwind going on now.
California, florida, and arizona. There are the simple facts that valuations are lofty after 30 rise off the lows. I would notice the cyclical rotation weve been talking about in recent weeks, the flood into cheaper areas of the market has done a total 180. Does the growth sectors stocks it is the growth sectors stocks. That is the worst threeday losing streak since march 18, before we hit the bottom. Dragging the least was the classic safe havens. Consumer staples, communication, tech, they are still down 2 to 3 but that is relative outperformance on a day like today as we are seeing investors flock back towards the stayathome stocks. Kroger up more than 2 . Netflix getting a lift. Butox is flat on the day, it is those virus safety plays investors seem to be interested in. There are a few stocks investors are interested in. Theyre only 11 stocks in the green in the s p 500 at the moment. David thank you kailey leinz for that grim market report. A lot of people focus on washington when
Called the senate back into session during a time there are significant risks and the health of the members of this chamber and the staff who make this place function. This is a time of national emergency. We should be working to provide our country with the relief and support it so it direly needs but this is only the second day of this is since leader mcconnell called the senate back into session and there will be no votes here on the floor, not one vote. And so far there is no plan, no plan at all to consider cope with related legislation on the floor in the near future. If we are going to be here in session with an elevated health risk why isnt leader mcconnell o work on issues that are directly related to covid19 . Last nightst we confirmed in noncontroversial nominees to the Nuclear Regulatory commission. The next nominee on the floor is for the intelligence post. No doubt important but unrelated h cope it. His nomination has been delayed by a republican senator so when the repub
Impeachment resolution of President Trump, and members will begin debate on raising the minimum wage. Now to live coverage of the u. S. House here on cspan. The speaker the house will be in order. The prayer will be offered by our guest chaplain, the reverend john p. Fitzgibbons, regis university, denver, colorado. God, plain most holy please unite and guide the leaders in this house to recognize, to speak for, and to safeguard the vulnerable and the marginalized in all corners of our nation. Help us to hear and to champion the rights of dreamers of all colors, all context, and all ages, especially the young whose ardent desire is to know and to build a better society. Help us to illuminate the path and to advocate for our countrys learners and their teachers so that access to education and the power of knowledge will continue to produce servant leaders committed to democracy, equality, and justice. Help us to unite our hearts and our minds to share freely of our gifts, to reflect crit
We have the Semiconductor Equipment index up on upgrades from the street. Upertheless, the s p is only 1 10 of 1 . The 10 year yield at 2. 03 . I know we are going to be sticking with markets. A lot to talk about today because we are smack bang in the middle of a earnings season, but there is the whole backdrop of the Central Banks and their moves as well. Forill speak to mervyn king a very interesting conversation in the last half of this hour. Theres fed talk, European Central bank later this week. It is happening on all fronts right now. Guy lets get a take on that. Alberto gallo joins us now from algebris to give us his take this morning. What are we going to bid from what are we going to get from the ecb this week . Are they going to deliver, or talk about delivering this week . Alberto they are going to talk about it, and potentially a rate cut which may come in september, and then an extension of duration of qe. Buying longer dated bonds and more of each single bond, moving from