You are seeing some signs that suggest broadens breadth you had this move in hold builders and transports. Its not a reason to discount that action. Forget about all of that those things are not the tech trade. Its not its clearly happening. Stephanie and pete have been right all along throughout the course of the summer they have said things are Getting Better things are broadening out. I have been a nay sayer but Market Action is telling me they have been correct and i have been incorrect for as long as thats going on, i think theres a reason to be encouraged that we could see continued new highs. As you know, the viewers know. One of the things i want to talk about is the three leading sectors today are low rates plays. Utilities are ripping. Reits look incredible. I added Simon Properties group which we talked about spg. That thing looks like it wants to break out right now of course, youve got communication stocks being the best performers. Im in verizon and that group. Nike hitti
Oil, 41. 40 we talked for a long time about mike pences hawkish speech on china from a year or two ago but pompeo yesterday oneupped that and this consulate news from china is weighing on sentiment too. Yeah, he upped the ante jim did focus us at the time on Vice President pences speech because it was quite truck lant would be a word to describe it at the time but it continues to go up in terms of the tensions, carl weve talked about it pretty much every day, whether its a backandforth over huawei, whether it has to do with conversations about closing down the app tiktok in the United States, whether it is the closing of consulates here and the response from the chinese. This is not going in a direction that many, who at least are invested in the idea of global trade, certainly, mike, would wanting to see. For sure. On the one hand the market is not necessarily overly focused to this point on these relationships and not really counting on anything to come out of it. Its not quite like
Protests and the fallout from joer george floi, but the market and stocks are focused on Economic Activity, period we just keep getting good news its good news off very lowered expectations whether it be cheesecake getting a lot more people than they thought or the airlines this morning. American saying good things. Whether it be ebay pronouncing right now things are better than expected whether you talk a look at a lot of the companies that, you know, morgan stanley, gm, of course this quarter was the weakest, but maybe next quarter will be the strongest. We have a number of Oil Recommendations saying they have come all the way back. So the street is really bullish. After being very bearish you see a lot of price targets that were cut severely are now going back up. Its a kind of dont fight the trend where the most overbought we have been since 2009, but if you go back to 2009, we were up 11 on the s p. We had great period after. People are fighting the tape if theyre selling. How abo
Out to new highs deedra bosa has details on alphabet. Larry page stepping down as alphabet Ceo Sundar Pichai ceo both of google and alphabet in terms of day to day unlikely to see major changes which is why you may missouri not see a lot of change in the alphabet stock. Under google umbrella pichai ran advertising cloud devices, software he has been ceo since august of 2015 since then alphabet stock has soared relative broad are market but underperformed wig tap peerings remember the split from alphabet to google. Alphabet was the place where the moon shot including way missouri, selfdriefgt stores internet balloons and health care projects. Perhaps the question now is what happens to those moneylosin initiatives . Will we see more financial zmin under pichai and ruth porat from wall street mo has been known for financial dplin. As pichai steps up does he step away from those and the traditional businesses like advertising paying for them. Deirdre bosa wove been tweeting over this news
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