you re watching out of a reminder of our top stories this hour yes democrats have wrapped up their 2nd and final day of opening arguments against trump graphic anna tons hiring evidence to make the case that the former president is responsible for the january 6th violence and has no remorse. the u.s. has imposed sanctions on myanmar military leader and several others involved in the case it s warning more punishment could follow on its international development agencies were directing more than $42000000.00 away from the government. u.s. president joe biden says the u.s. doesn t have as many vaccines as his administration have been named and signed contracts to buy another 200000000 doses but will miss its target of inoculating all americans by the end of the summer. ek researchers say the corona virus mutation 1st found in the southeast in county of kent could become the world s dominant strain since being identified in september it s spread to more than 50 countries it s mu
doesn t add up about this suddenly hot stock and why he says retail traders are making a horrendous mistake a bitcoin bust, sharp selling in the last hour, the cryptocurrency down $2,000, briefly below $17,000. you see our bug on our screen by coinbase we start with the tax cuts wall street has been waiting for, despite a slight delay, the house has to vote again. the nasdaq 100 the biggest decliner with amazon, facebook, netflix, and google all sinking. will big tech be the loser when it comes to the seemingly imminent tax bill? big tech, you ve had a big run. whether it s microsoft, amazon, facebook, you name it. it doesn t hurt or help that we had some downgrades and some folks are talking a little more bearish about a name like facebook today it s understandable that some of the tech is pulling back you had intel screaming to the upside so is tech going to get slammed because of this? i don t think so they will probably be affected, certainly, but not as affected as
breakout in two groups of stocks this year. just like the karate kid they are the best around. big tech and biotech kick off the year qqq up about 9% in 2018. and ibv up about 10% this year when it comes to hunting for growth in a raging bull market what is the best bet, tech or biotech? dan. on a day like today, when you see netflix, a name that a lot of investors keep a close eye on as they think about tech, up at new all time highs, up 10% google has gone berserk before they reported earnings one sector that s more interesting could be biotech we have been talking about two big deals that we ve seen already. when i think about the ibb it made 52 week highs but it s down 10% from its 2015 all time highs. sell gene, boyio yen and gilead are still off considerably from those high they have been aquarsor are going to be acquires if we are going to continue to make new highs in the market the ibb looks to be a decent bet to get back to those prior highs. if you look at the
it is a broadly weaker dollar story but it is by stocks, sell bonds. yields move higher by two basis points. crude up by 1% despite the fact that opec again upgrades it s not opec supply forecast for 2018. checking in your safety traits, you get a feel for the market is. dollar lower. that is one of the changes. you wind up having a selloff over europe. the vix a little study. david: it is time for the morning brief. at 8:00, the white house is going to be releasing an intersection plan. at 11:30, the administration will post its budget blueprint online. $240 billion for six-month bill. first of all, markets, are they stabilizing? the inflation fears. are they justified? we are going to get a hint when we get the cpi numbers. it s a straight spike. interest rate spike. a warning on the interest rates. abramovitz, just a look at positioning in the market. come inside the bloomberg. s&p net position s. you are looking at the vix. you can see the stock reversal. we start wit
apple s stock down. suppliers like this. the apple watchmaker getting a nice jump. a whole new review. time now for the morning brief. apple had an announcement yesterday. unveiling a $999 iphone. the iphone 10 is the most expensive phone ever from apple was one of three new models tim cook showed off at an event at the new headquarters. the event came on the 10th anniversary of the launch by steve jobs. phone, and an internet communicator. are youphone getting it? these are not three separate devices. this is one device. [applause] iphone.e calling it today apple is going to reinvent the phone. tim cook said the new phone signals the next era of smartphone evolution. iphone wet advanced have never made come a new design, face idea, true depth camera system, and more powerful technology than we ever put in an iphone before. it really is the future of the smartphone. the big question, will these new products impress customers and investors. great to have you with us.