Or highs just yesterday alone. Bit of a pullback today. As for the nasdaq, yeah, it closed above 12,000. There was a massive runup in tech stocks again, a pullback is to be expected, and take a look at that, thats what weve got. Got it. Next, vaccine news. Very positive. The centers for Disease Control is telling states to get ready for Vaccine Distribution on a large scale come november the 1st. Which vaccine . Dont know, but this is a firm date and, of course, its right before the election. And it is exactly two months to the election, and the two campaigns are in high gear. Joe biden has reversed himself. He will travel to kenosha today. He said he wouldnt go, now he is going to be the comforter in chief. What will he say to the burnedout Business Owners . President trump goes to pennsylvania. Hell speak at Arnold Palmer airport just east of pittsburgh. Ive got a feeling hell talk about fracking. Stay with us, please. Youve got to say what Speaker Pelosi is saying about her break th
Good. Varney company is about to begin. David lets get right to your money and there is more of it. Markets expected to open higher as china cuts tariffs on 850 products. Come in, market watcher Keith Fitzgerald. Will we hit 29k or even 30k before the new year . What do you think . That is not as outrageous as it sounds. We are within striking distance of that. We got to have a good broad session, but the lack of headlines that are going to interfere with that is key. I think we will get there. David you think of what has happened in the past year and again, a lot of it had to do with the fed, wasnt necessarily because of trade policy, the fed was pushing up rates, that was pushing down the market, but 6,000 points since a year ago, and i think the bottom was actually more than 6,000 points, when you look at it today. What was happening then thats not happening now besides the fed . Well, i tell you what, this is a real testimony to the faith and inspiration and innovation that drives
Rally about to hit a wall in 2020 joining us, jeff richards, and paul meeks good morning, guys good to see you. Paul, let me begin with you, ask you why . Is it because things are expensive on a relative basis . Thats right. I have been around a long time i remember with lashes on my back what happened when the internet bubble popped not falling for that scenario. I expect the u. S. To grow at a decent rate, fundamentals of most Tech Companies, not all, to be reasonably good, but the bulk, particularly of marquise tech names are trading at valuations getting me a little scared because i think much too much is priced into some of these names as we roll out of 19 into 20. Jeff, we hear that. On the other hand, you might counter with the fact some of the names got a haircut second half of the year episodes like wework, some argue, are healthy in the long run for staestablishing discipl. What do you think . I remember folks being concerned about tech stocks end of last year, had quite a ru
Night, caterpillar warning this morning. Money moving into the bond market. Yields lower by about two basis points. Time now for global exchange. And london to you new york washington, our bloomberg voices are on the ground with this mornings top stories. U. K. Prime minister Boris Johnson will Face Parliament after lawmakers blocked his plan to rush the deal into law. We now face further uncertainty, and the e. U. Must now make up their minds over how to answer parliaments request for a delay. Alix European Council president donald tusk earlier signaled that the eu was likely to do. In order to avoid a theeal brexit, i recommend eu 27 except the u. K. Request for an extension. For this i will propose a written procedure. Anna edwards is in westminster. Anna the Prime Minister is concerned. There are two paths that could lie ahead. One of them is to change the type of the existing agreement billed to give it another chance in parliament, to see if it can get support after its got more
Overnight that washington could be delaying easing up restrictions on huawei as part of the trade war deepening tensions potentiallimentpotentially ment and we have the s p 500 and the dow coming off some highs yesterday. Overnight in asia, we had some interesting news out of japan. Theyre changing the way theyre buying maturities across the yield curve. We have the nikkei higher by 0. 4 we have red arrows on the hang seng and shanghai. New china data overnight that showed food prices surging 9 , largely in part due to a surge in vegetable and pork prices european equities, down arrows across the board the dax is down by 0. 9 . Treasury yields, this has been the focus all week, yesterday the intraday on the tenyear yield was 1. 793 we are seeing extraordinary moves on a daytoday basis. Getting close to the twoyear feeling it feeling it feeling it little resecessionary feeling i. We have one other piece of Corporate News to bring you. Uber shears undehears unde s uber shears undhares un