Opec agreed to extend its cuts through july amid positive Economic Data and demand is about to return to the market and carter worth says it has gone too far too fast. Carter, take it away this is a poor area of the market for a long time and it collapsed here with the covid news and has recovered lets look at a few charts and figure it out. The first, of course is the table and if you look at the ten sectors and it composed with the s p 500, that which is down the most is often that which is down the most and so you can see the stacking order here and energy is up almost 100 followed by Consumer Discretionary almost up 60, of course, by amazon. Home depot and others and the s p bringing up the rear at 46 look at two charts and look at the xle, versus, the etf dominated by chevron and exxon and the 40plus percent rate and this is moved, 22 to about 44, but what you can see quite clearly is that were up against a fairly welldefined downward trend in effect for the past two or three year
Closing out may in the green with the s p 500 now up more than 38 from its march lows but take a look at the small caps. Despite seeing a boost the group is still lagging carter says theres more trouble brewing for this beaten down sector carter what, are the charts telling you . I mean the issue here, of course, small caps have lagged for such a long time and they are very heavily weighted to financials but lets look at one of four slides the first shows you iwm and well defined lows from which the iwm, the russell 2000 broke sharply see that level, its sort of the 145 level and plunge to 95 then we ricocheted all the way back to that level and thats the issue. Were up 51 off the low more than the s p. But thats the problem with going down so much meaning its so damaged, take a look at the next slide so here, again, ive drawn the arrow. Basically its a classic example of a rally back to a difficult level where a lot of commitments were made. Money was lost and now that money has been
Forging ahead, president open. Despite dr. Anthony faucis warning this week urging caution, just ahead the debate over whats best for the country, the economy and tens of millions of students. Close to home. A member of our own medical team hospitalized. I really couldnt take a full breath, and i called 911. Dr. Joseph fair, an expert, how he may have gotten the coronavirus, despite taking every precaution, hell join us live from the hospital with a warning Everyone Needs to hear. Well have those stories, plus, teeing it up. Inside the pga tours return in just a matter of weeks, with testing in, but handshakes, highfives and fans, out. Today, thursday, may 14th, 2020. Announcer from nbc news, this is today, with savannah guthrie, and h rockefeller plaza. Hey, everybody, welcome to today. It is 7 00 a. M. On the west coast. Savannah, news on dr. Fair, stricken with coronavirus. Surprising because he is only 42 years old. Well, exactly. And he also certainly knows how to take the precaut
[ siren wails ] narrator september 11, 2009 an ambulance races to the posh newport beach, california, home of financier danny pang. He was only 42 and relatively thin. You had to kind of wonder what [ chuckles ]. What was behind this. Mr. Pang was under electronic monitoring, and they saw his bracelet when they took him to the hospital, obviously. Narrator pang, who is on house arrest, is under investigation by the feds, accused of defrauding investors out of nearly a billion dollars. The embattled entrepreneur clings to life overnight, and with his silence comes more questions about his alleged dirty dealing. He left all these disturbing clues through his whole life where people who were close to him felt theyd been deceived. Narrator danny pang is born in taipei, taiwan, on december 15, 1966. His father, he told people, was some kind of a trader. His mothers family owned some kind of furniture manufacturing business, and they were reasonably welloff. He went to a very Prestigious Mid
January of 18 of 140 and surged to 327 before collapsing with the market. Didnt offer any defense, went down just as much as the market. Hit a212 low and closed this week at 283. If you look at the next chart, this is important. If you are defensive or considered defensive, more defensive than proctor, apple sells off 30 . And now having rebounded 35 , but youre not back to the high of course. Thats the nature of percentage draw down and ricochets. Final chart, this is a twopanel chart, and this reallies to tell the tale what we see is apple on top, but its relative performance to the nasdaq 100 continues to stall. And by my work, that is its problem, and i think one is right to be skeptical going into the earnings print this coming week all right, carter, so we go to mike. Whats your trade out of this . Yeah, so its interesting as far as im concerned apple, this obviously is a company with a fortress balance sheet, and a lot of Technology Companies s companies some would say are wellp