Action Toll Brothers and stitch fix stocks are moving. Well break down the trades straight ahead we start with target practice, folks. Looking into next year more firms putting out 2021 s p forecast its quite a range, citigroup 3800 three percent higher than now on the s p at the other send j. P. Morgan 4500 about 20 percent upside so folks as we gear up for next year, which camp are you in guy . Are you at the low end 3800 or closer to jpmorgan. I will tell you what im in i love Tyler Mathison. Nice to see you. Youre the man. Thanks for being here tyler. Tyler, what was that show boldly go where no man not star tr trek you a fan . I never was a fan thats okay. Nor was i chauvinism notwithstanding, for the first time in History Today Global Market exceeded 100 trillion of market cap, 115 percent of global gdp and s p 500 now about 180 percent of u. S. Gdp just ridiculous numbers. So i understand why the market is going higher, i get it, but id about in the low end of that camp, tyler.
Nice trifecta reports for snap, United Airlines and Texas Instruments. Jew julia, take it away. With snap meeting expectations on earnings and beating expectations on revenue, while subscriber numbers came in half a million lighter than expected, what is is putting pressure on the stock, you see its down over 6 , is guidance that snap is planning for t addition of 46 million daily active users the company also saying its combined cost of revenue and operating costs will grow at percentage rates in the low to mid 20s year over year compared to last year the company says these increasing costs are because its investing in longterm growth snap did not give any revenue guidance but said from july 1st through july 19th snap has seen 32 Revenue Growth theyre cautiously optimistic that these trends could sustain over time but theyre cautious that trends are volatile and could deteriorate. Ev evan spiegel saying Certain Industries have benefitted from some of the covidrelated circumstances. Sn
Will have more on the San Francisco fire in a moment. I am frank mallicoat. Good morning i am allie rasmus but we have rosemary wrestle with us to give us a check on our weekend weather. It is going to be one for most of us this weekend. So becky has a notable warmup. We are waking up with mostly sunny skies, just a little bit a patchy fog along the coastline. Temperature will take a notable jump today. Getting alive look over areas of the golden gate bridge. If you look to the flag on the right side the wins are, and light. We are looking at temperatures well into the 70s, even mid 80s expected for inland cities today. The warming trend continues on sunday when are in land cities get very close to 90 degrees. It looks like memorial day monday will be even hotter than that. Temperatures are expected to peak in the mid to upper 90s before this warming trend is over. Details what you can expect r e up with just a bit but with the in San Francisco. The Early Morning fouralarm fire not too
Thats unbelievable. Bob has more on whats driving the action bob. Thank you were seeing some rotation today. Its about time and thats a really good sign for the market. Well see if that holds. These things come and day. The banks have been drooping a bit. Nn energy, first rally really in a month. Tech is sort of inline today thats interesting i want to show you something health care is lagging nap was the Leadership Group this the the rotation im talking about. How about tech tech is up its an interesting form of tech its Old School Tech hewlettpackard is up nice today. Xerox is rallying. Corning is rallying. Thats old school stuff. Hoe about the megacap stocks the big five names theyre up i want to point out, they were very late to the party today those stocks were all flat at the open a lot of people are offsides today. Look at the estimates out there. Theres been some conneequity ad mutual funds that tells you a lot of people are not very optimistic. 2939 that was the old high at te
Since february 5 and 6 thats right, it has been about a month and a half since february 5 and 6 for the dow and february 13 for the s p 500. Right now, it looks like the yield is at 0. 858 andrew we have a huge lineup of guests today out of washington James Bullard talking about headlines. Tom barrack and former federal chairman ben bernanke. Living through the crisis of 2008 and studying the Great Depression all of that coming up over the next three hours to the news that broke overnight. The white house and the senate announcing a deal. Well get to leaSteve Liesman f more on that and eamon with more. It was in the 1 00 a. M. Hour that it broke overnight. What we have here, joe, is a handshake deal we dont have a vote and we dont have the explicit text what we have is a deal here is how Mitch Mcconnell announced the deal at 1 00 a. M help is on the way. The American People are already rising to this great challenge the senate is about to follow suit well pass this legislation later to