Me jimcramer the internet gives you the ability to comparison shop for anything younger people reach for whats on sale or what can create the most exciting experience those choices are rolling the whole market a lot of investors fail to understand the implications, especially on big rotation days like weve been having the dow dipped 109 points after being strong for a while s p declined nasdaq dropped 1. 9 for those who have been struggling with that it didnt used to be this way. In the old days children bought the same brands their parents bought to deviate was to disobey. Or question the judgment of your elders that was a big nono it sure made stock picking easy, didnt it . Whoever had royalty won, those were the stocks you wanted to buy, those were the days now its the absolute opposite now nothings etched in stone and consumers, well, they often see big brands as ripoffs. Of course, some of us are throwbacks im a throwback. I use old spice deodorant, my grandpa used it. I got an Am
Environment of being able to write your state and local taxes off. It would hurt millionaires in the state if you added a tax to them, give them another reason to leave the state. Chris christie by the way bemoaned that. Be that as it may, well get details from the governor shortly. Expected to be imitated across the country by other democratic governors coming in. Virginia is looking at that. A virginia democrat taking charge on saturday. Way too early to tell where all of this is going. What is not too early, look what is happening at corner of wall and broad for the second time this year the dow hit another milestone. Weve been in and out of it since. Now 25,971. This is seven trading days after 25,000. By the way it is the 8th 1000 point milestone since election day. The 7th since the president was inaugurated. Among some of the companies were looking at moving up smartly, a lot of people say based on tax cuts that are improving the bottom line, United Health an citigroup, merck al
It seems that way with the s p climbing 1. 1 and the s p 1. 8 and today for once seemed rooted in something very positive. The end of the greek disaster scenario took it off the table and there were plenty of people who believed that if greece broke with the euro there would be pure chaos in the financial world, dominos and those investors are now off the sidelines buying or recovering their short positions meaning buying back what they bet against because you most leakly arent going to see drachmas any time soon. The woman who ran the show the whole time german chancellor Angela Merkel closed this morning at 3 00 a. M. And lets just say the greeks blew it. They went for broke and got a terrible deal because in the end they wanted to be in the euro more than the germans wanted them in the euro. The germans were willing to throw them over. I think the europeans threw in the plan because they wanted to force them to vote yes. Maybe theyll see Leftwing Party propaganda that the deal wont
First, we start off with the move in Health Care Stocks today. The sector rallying more than 1 , surging to an all time high. This as bio tech stocks continue to break out, tracking for their best week since after the Election Health care, the best performing sector for june, so did we just witness a major rotation of the market and could health care be the next hot area of growth. Yes to all of that . I dont know about all of that your last thing. Then i sort of tune out. I get that. But now, absolutely. Is there a rotation going on im not serp, be but i think people are realizing that valuations in health care make sense. Maybe bio tech isnt under the mike scope we thought it was and now, youre having some listen, i dont think the pfizer, Bristol Myers deal is going to happen, but when you start to hear speculation about things like that, it lead to a Healthy Group for the space. Its led by celgene. Look at the performance small u to mid cap names xdi is is up what, 30 plus percent .
America. Takata shares collapsing after the daily limit was removed. Rishaad toshiba falling at its own hurdle, unable to finalize the sale of the chip unit right todays deadline. Onare keeping an eye toshiba, looking ahead to reaction out of janet yellen what she has been saying and marriage draghi and that is how it is buying out when it comes to equities. Looking at the markets themselves and etfs, i want to pull up a chart, 445, and this is the growth we have seen in the demand for these etfs, and now on pace to hit a record of 300 billion, topping 2015 and 2016 combined, growth driven by foreign buyers piling into these funds during the first half of seeking out u. S. Stocks in this rising Interest Rate environment, all of this down to Goldman Sachs and saying it is only the second time during the past eight quarters that Foreign Investors have been net buyers of u. S. Equities. There you go. All of this very interesting as we have had a slew of Central Banks be that take away fro