This second half rally continue . Then a stimulus stalemate the latest from washington as both pelosi and mnuchin talk covid relief. And later its been one of the biggest winners of the pandemic, why peloton is getting a new street high price target over at jpmorgan its actually not a bad place to start right there, guys, because for the second day in a row, david, we have had some analysts raising targets even on names that they maintain at neutral, today its b of a which yesterday kept apple at a neutral, they upped their target acknowledging moment tim today they do the same thing with tesla, this Equity Funding will fulfill growth and their price objective goes to 500 plus yeah. Listen, every day brings more things that for me are reminiscent of the late 90s its hard to avoid it. I made some comparisons yesterday, many High Quality Companies of course are getting the fuel this time as opposed to what was a broader spectrum of companies perhaps at much higher multiples, many of whic
Inversions plus, tiffanys mixed quarter, the luxury retailer with an earnings beat. Peloton getting set for the public debut, widening losses ahead of its initial Public Offering as we have said twice now, stocks are set to open lower on worries about Global Growth and the risk of recession. Investors paying close attention to that yield curve and its inversions of the two and ten as well as trade tensions between the u. S. And china about an hour ago or so, we got a president ial tweet, quote, so interesting to read and see all of the free and interesting advice im getting on china from people who tried to handle it before and failed miserably. They got taken to the cleaners, were doing very well with china. This has never happened to them before this being a preference to the large tariffs in place that are set to go up september 1 and then december 15 and the overall there has been some press that echoed some things i was hearing shared on monday that the idea that the chinese have
Well, i was all alone until you guys showed up were going to start off with the markets. Volatility heating up. Weve seen a big rebound in stocks this morning, though the yield curve is sending its strongest signal yet to the markets of recession inverlt verting to the worst levels since 2007 here is ubs Global Wealth management head of trading strategies ian, the move in bond yields, at this point whats driving it because some of the fundamental data later, Consumer Confidence yesterday has been a little better and yet we continue to see these new lows on treasury yields. Frankly there seems to be a race to zero in the global sovereign debt market, whether its driven by the fed or the ecb or whats going on in japan. The fact of the matter is u. S. Treasuries yielding even now north of 2 end up being a huge buying opportunity, and thats what we saw in the long bond, and thats why theres been this consistent bid for ten and 30year yields at this range. And thats why the president is so
Big debts being made either way. Holding steady after a midday auction. Then there is nvidia. Its always notable again. Following the big friday fall. Some key earnings in overtime tonight. We will get you set up for that, too and just a little bit. Investors should prepare for an even bigger momentum meltdown. The self i had of Investment Strategy is here with me. Nice to see you again. You, too. The big question is whether the momentum trade has run out of steam and now we are going to see this rotation. What do you think . If were talking about the momentum trade is the magnificent seven of 2023 and the big tech names that brought us into 2024 then yes, i think it has already run out of steam. I think that ship has sailed. Youre throwing the curtain down already . There was one day for nvidia. Im not done yet. Momentum. If we talk about momentum in the terms of risks appetite momentum, thats so here, alive and well. Everything happening right now may be the precursor to Something El
Graded a c by her own. Hes a tough grader. Nasdaq outperforming several momentum names in that index bounce back led by nvidia back 900 bucks. Oracle is the best and s p following its earnings report. That after naming a new ceo. And all takes us to our talk of the tape which is all about the rally. Is it running out of steam . Is it taking a momentary breather . No real breather at this moment as we come on the air. Lets ask archie Market Strategist for j. P. Morgan asset management. Welcome back. Reading through your notes, you sound really positive on this market. We do some positive. First on the fundamentals for the economy we see growth normalizing this year 2 , but zero recession in our base case. We see inflation also moderating towards 2 by the end of the year. You still have a pretty resilient nominal growth backdrop for companies. Resilient Revenue Growth area and at the same time it seems to us the big take away from Fourth Quarter earnings was a bottoming in the margin fro