The 27,700 level. Remember, it was 18,000 on march 23rd. The s p, what, nearly 3400. New alltime high. The nasdaq well over the 11,000 mark. Who would have thought of that. Add it all up and yes, we are now in a brand new bull market. Heres another reason for the rally. Terrific performance from major retailers, target, out today with a blowout report. Online sales nearly tripled. It was targets best overall growth rate ever. That stock is going straight up. Add this to the numbers from walmart, home depot and its clear the major retailers won big by staying open in the lockdown. Really, though, kind of tough on the smaller operators. Got to get to it. The convention, boring in my judgment. Tv ratings way down. Wheres the excitement . Everything is on tape and the whole thing lacks the spontaneity of a live crowd. The performance of the old guard, bill clinton, john kerry and a grim chuck schumer. The bright spot was aocs oneminute appearance. She nominated Bernie Sanders. The democrat
Nasdaqs going to be up about 60 at the opening bell. From the low of march 23rd to the close yesterday, the value of all publicly traded companies has gone up 12. 2 trillion. You have never seen anything like that before. Next, tesla. Musk does it again. Grabs the headlines with a five for one stock split. That may bring in more Retail Investors. Doesnt change teslas business, but the stock is up bigtime premarket. A gain of 84 bucks per share. Apple announced a four for one stock split a week ago and apple this morning is leading the big tech rebound. Its up four bucks. Then theres this. The big ten, now the pac12 have canceled their football seasons. Looks grim for the college game. This is a financial story. Colleges will lose billions. That virus changed everything, didnt it . Larry kudlow joins us again later. What does he think of a 12 trillion increase in the value of American Business in less than five months . Hes got something to say about it. Hes on the show. Wednesday, augu
Diego, it will be Online Learning only for the rest of this year. That is shut down. The l. A. Teachers union demanded medicare for all and the defunding of the Police Department as a condition for reopening. What has that got to do with education . Leftist politics rules and the largely minority student body in Southern California will be deprived of a meaningful education. All right. Lets talk about money. Earnings season has begun. Look at delta. Lowest revenue in 30 years, 3 billion forked out for virus expenses, burning through 27 million a day. That shows you how tough it is for airlines these days. The stock down a little premarket. Overall, a tiny bounce back for the overall market. Big tech largely in the red this morning. We do have some decent earnings from some big banks and thats giving the markets a very very modest boost. The dow is looking for a very small gain, maybe up 10 or 12 points. And we have the s p and nasdaq on the downside. Thats premarket. All right. Now loo
President. His support among independents gone straight up despite the intense opposition of the media and the democrats. More positives. At the president ial town hall, mr. Trump suggested a vaccine is possible by december. Dr. Fauci says january, if everything goes well. That would be a major step towards a fullscale return to work. However, the president also said he could impose fresh tariffs on china. He called that the ultimate punishment. We should point out that there is a new report this morning suggesting china deliberately manipulated the virus for its own advantage. Lets get to the market. It will be opening lower this morning. In part because of the threat of tariffs. Look at the dow, down maybe 200 points. Nasdaq down about 55. S p down about 20. And then theres Warren Buffett. Big news there. He has sold all his Airline Stocks, all of them. He no longer has any money in that industry. However, he did lay out a big positive. He said this economy will come back, quote, not
To war. The nightmare stage of trumps rule is here, says michelle gold berg in the New York Times and paul krugman simply calls our president a bully. Democrats lining up to attack the president , Bernie Sanders says hes like putin. Assassinating dissonance. Meanwhile, theres real chaos, where hundreds of thousands on the streets for the funeral procession of Qassem Soleimani and then a stampede. Iranian state news media says more than 30 are dead. Overall this is a morning of confrontation, war talk threats and military preparations and as for the market, a shrug. Monday the dow made a 200point uturn and actually closed higher. This morning were looking at futures, minor loss for the dow and the s p, a 10point gain maybe for the nasdac at the opening bell but look at oil, another shrug on that market after the Soleimani Killing the price of oil moved to 63 64 a barrel today its back to 62 and the price of gas, Holding Steady the National Average still right there at 2. 58 per gallon.