The dow did go down. The nasdaq went down 4 or 5 . I spent the better part of this year studying the pandemic i was right. You know what we just cover . The professionals are not the only covid that matters. We have a Massive Group of investors who become professionals. They dont care about the same thing as the experts theyre the ones who were the marginal buyers and sellers. The investors have changed the entire character of the market what made you not be able to sleep at night it was very little belief in stocks for the past 20 years, the convention says stocks could no longer be trusted. They continue to lose their values way too quickly when something goes wrong on top of that, the convention only a fool to try to pick individual stocks. You may as well stop trying to beat the mark and put some of your money in an index fund and invest safely in bonds the last eight months, that convention has been stood on its head by a new generation of investors after the rise of Commission Fr
Todays action dow gaining 140 and nasdaq surging 1. 71 the market reflected everything going right, but totally obscured everything going wrong. Its a tale of two cities. It was the best at times and worst at times but on up days, we focus d on the best and ignoe the rest what do i mean lets start by going over the winners today to see what they are trying to say. You have to define them. They speak to you. The stars of reteail tell the story. The most important winner is amazon this morning, analysts who missed nearly the whole rally here took the recent pull back as an opportunity to upgrade it was very significant. I liked everything in the support from approval to the patience you see, he waited for a double digit decline before he pounced. Most people were flying. Not him. I like that. In recognition of the incredible strength with rapid delivery and the fly wheel approach he says buy amazon is there anything in this note actually, yes. You can make the same arguments about amazon
Im julie haener working from home tonight. It has course is announcing new efforts to combat the virus as the number of cases across the country continues to rise. There are now more than 3600 cases here in the bay area. Santa clara county has the most with more than 1200 cases. California as a whole has 15,000 cases. Thats about 1000 more than yesterday and 349 people have died statewide. In the United States there are now more than 337,000 cases and nearly 10,000 deaths. The death toll is expected to jump this week. Today the president also announced new measures to try to fight the coronavirus. Reporter the federal government implementing new measures to help bolster the countrys fight against the coronavirus outbreak as the number of covid19 cases in the u. S. Continues to climb. This is an allout military operation that weve waged. President trump in the Coronavirus Task was delivering an update on the white house, outlining some of the new steps are being taken this week includin
Gov. Newsom thank you, everybody for your indulgence as we are here in the sacramento area to make a number of announcementsarea to make a numf announcements and continue our daily briefings. The announcement today, with mayor steinberg and a wrap from the county on the issue of homelessness. The facility we are at a facility in the sacramento area that currently has dirty individuals who were out on the streets who were brought in has 30 individuals who are on the streets and were brought in ofently to begin the process 0 let me back up. To basically decompress. And to address the real vulnerabilities of homelessness in this state and the issues of covid19 as it relates to the Homeless Population throughout the states. This has been a point of real concern for all of us for a number of months a top priority since the covid crisis began to manifest. We are pleased to date with the partnership we have with fema, the partnerships we have with counties up and down the states in california
We are waiting for a 10 45 press meeting with the signatory of state the secretary of state. Guy that is going to be fascinating. We have an emergency meeting of european Foreign Ministers as well today, but that story in washington is one to watch. Im sure the crude market will be. European stocks up a little bit today. We saw a little bit of action around the payrolls number, but not much. Saw our way back from earlier highs. The dollar continues to push on up. I am going to show you some charts later on talking about some of the Technical Levels the. Ollar is facing now to the upside. 1. 11 now. A little bit of movement in the bond market. We are looking for next weekend the signing of the phase one trade deal. How good could that be for europe, and what is already priced in . Vonnie sticking with jobs, the u. S. Labor market closed the year with a little less momentum. Nonfarm payrolls rising hundred 45,000, compared with a median estimate higher than that. Unemployment held steady