Gaining. It is time to admit that conventional wisdom has been wrong every step of the way. In this market, patience is not a virtue discipline cluster of fortune. Buying the most obvious stock, well, that has been a strategy that was easy i struggle about how this is possible i am not used to a mark that reward investors being late to the party. We found out moderna has a vaccine that may work better than pfizer. Thats getting off the table we got uncontrol spread over america. And mayors and governors refused to shutdown the bars and restaurants. Those are the main places we are getting infected no, it is at home, jim this pandemic is steam rolling us the prospect of a vaccine keeps on plotting it and shutting everything down. I am sure you are wondering, given the numbers that we see, how is that possible first every now and then there were moments that well stood on our head. Time like these is not sell. You must be willing to suspend judgment how far stocks can reasonably go. Than
Good morning, it is 8 00 a. M. At apple park in coopertino it is 11 00 a. M. On wall street, and squawk alley is live. Good Tuesday Morning welcome to squawk alley. Im jon fortt. Were going to kick things off with apple, just under two hours away from a big event this afternoon where we expect to see a new ipad and a new apple watch. I argue this is the most important launch for those products since their debut why . The environment that were for the ipad it is all about covid productivity people are trying to buy devices for work from home and school from home. They are trying to extend their lead on the tablet space and what about the watch its all about Health Monitoring as people work out from home and now look for additional tools to monitor their vitals during covid. Apple might provide the knockout punch and make things like googles proposed deal for fit bit irrelevant if it was a fortune 500 company, that would have put the ie had alo alone ahead. One star of the show today cou
Thousands losing everything. The massive north complex fire scorching more than 250,000 acres, engulfing 1,000 acres every 30 minutes sending 20,000 fleeing as thousands of firefighters across the region battle the relentless flames. The blaze sending thick smoke turning the sky orange causing this apocalyptic scene in San Francisco overlooking the golden gate bridge. We are live on the scene tracking the very latest. Vaccine setback. New reports this morning on the Covid Vaccine trial freeze. A woman reportedly suffering a rare but serious spinal inflammation and as millions of students and staff head back to the classroom, parents slamming one of the nations Biggest School districts calling the first two weeks of Online Learning a disaster. Breaking his silence. Former florida gubernatorial candidate and rising democratic star Andrew Gillum speaks out on the scandal at that Miami Beach Hotel room and the night his life and career unraveled. What he says happened. Tamron hall here wit
Its the fed on a day where the fed presented the monthly heati lly meeting, surprise we heard endless chatter how the stock market is in a bubble of the feds making. After a good day, the dow gained 160 points and nasdaq fell to 1. 35 . You need to know that i think this is totally nuts yeah, right. The all powerful fed created an environment where equity is the only asset class worth owning and bonds are for suckers. Its our central bank with the illuminati and free masons im sick and tired of hearing were in a bubble that the feds over inflating the price of stocks by printing money to keep the economy moving believe it or not, there is more to the economy than the Federal Reserve and certainly more to the stock market first, im not saying the fed doesnt matter of course, its important. They could raise shortterm rates to five and that could crush the stock market that would make the bears happy. I can hear them coming on air and praising the fed for giving investors a reasonable al
Whole move, just fueled by Wishful Thinking are we whistling past the graveyard here after a strong day dow gained 133 points, up more in the beginning. Nasdaq climbed 1. 3 . I think those are the wrong explanations its not Wishful Thinking. Its that i keep telling you that we have two markets, right. I told you why the s p doesnt work any more. We have two markets. We have all that stuff that went down and im going to go over that and then, of course, whats in the nasdaq in science and technology thats whats responsible for the phenomenal move. The nasdaq is barely down for the year yeah, and the bad market, the industrials, travel leisure stocks everything gets dinged even on a big up day like this one. Right now there is genuine excitement on wall street that we could maybe be returning to something close to normalcy. We know its ridiculously high people didnt get their stimulus checks, the pay row protection program, money will float, Small Business employees consumers have been co