Second week in a row that its starting out just in the right way. Yeah. I think theres people who just feel that this great shutdown is over obviously its worldwide the spending will begin again. I keep hearing that theres a surprising number of survivors that its not as bad as we thought. With the exception of some mortgages and some credit card, the forbearance wont really reverberate through the system reverberates to the banks. I know theres people who want to try to get the banks going. I say stick with whats working. I know its boring i know people want to rotate its something that Portfolio Managers love to do. I dont like to rotate into any stocks that have numbers cut thats really important. Im looking at david faber, who looks, of course, fabulous im thinking about him because its the credit markets we have to worry about, not the stocks they look great. Whats your concern in the credit market specifically, jim . Like hertz. Its not like theyre nothing. Hertz owns a lot of ca
You do you reach for the stock equivalent of comfort food something that tastes just like the great bull markets of thats right you reach forfang, my acronym for facebook, amazon, netflix and google this session its more like fang because microsoft has become red hot. Netflix suffered a rare decline. The tech stocks led us higher. With the s p rising 1. 67 , and the nasdaq zoom being 2. 80 , it was a matter of time before we return to the tried and true this market has been going through groups like theres no tomorrow first we had the rally in the defensive Consumer Staples during the work from home nuclear winner the stocks rebounded we started reopening hospitals for nonessential medicine a run up in the big box retailers. That group seems a tad exhausted. Weve seen a surge in the Semiconductor Stocks as demand picks up from china and 5 g. Build out looks good continue with analog devices, amdi a decent quarter. A run in industrials as people bet the economy might be coming back as a
Baseball is looking at an 80game season starting in july. Football arrives in september. Disney allowed, what, onethird capacity at its shanghai park and it sold out. While lockdowns continue, they are being challenged most notably by elon musk. Wasnt to op he wants to open his tesla plant in california. The Authorities Say no. Hes going to court and says he will move out of state if the factory stays closed. As for the market, that will open lower. Solid gains recently but a pullback so far this morning. The dow is looking at a loss of 270. The s p down about 30. The nasdaq off about 72 points. Lets get to politics. Big week for that. It is trump versus obama. General flynns lawyer says the plot to undermine the Incoming Trump administration was launched in the white house by outgoing president obama. President trump calls it obamagate. Theres a lot more coming on that one, believe me. Its monday morning, may 11th, already, and another big show for you. Varney company is about to begi
Each individual case is so heartbreaking. Yesterday on the floor we heard about a 5yearold girl whose mother a police officer, her father, a firpte. 5 years old, died of the coronavirus and then we heard max zones sister is dying. Senator warrens brother is dying. Thats people we know but people we dont know, theyre having the same kind of terrible grief in their family. Our prayers and thoughts are with those who have lost their loved one. Our prayers and thoughts are with those who have been diagnosed. Approaching 900,000 diagnosed and also, what 26 million having lost their jocks. Staggering numbers. Lots of personal and family grief. The conversation thats going on now is if we are to open government how and when. As i had said, it should be sciencebased. Science based. Testing, testing, testing holds the key to opening the door to taking it from home into the economy. Had testing everyone agrees, testing well, not everyone. Scientists agree that testing, Contact Tracing and isolat
Plans to keep immigrants out of the u. S. For 60 days he says to protect american jobs. Just days away from a surge in the number of infections mexico reaches the most serious phase of the company plus. Im scott highland country to bury thailand where the Economic Impact of covert 19 on the critical Tourism Industry is hitting hard with no visitors one elephant camp is struggling to keep the animals fed. The number of reported corona virus infections worldwide stands at over 2 and a half 1000000 more than 177000 people have now died from the virus the u. S. Has the highest number of cases and deaths with over 2700. 00 people dying in the last 24 hours while the politicians their roles are battling the Economic Cost of the pandemic the senate has passed and the 500000000000. 00 relief bill to help the struggling Small Businesses it also aims to provide more funds to hospitals and for testing the bill now goes to the house for a vote. This gives us another 310000000000. 00 for the p. P.