What could detail the stocks the s p advanced and the nasdaq climbed 1. 24 . What would make us want to dump the red hot stocks that have been leading us higher i dont see this rally collapsing under its own weight, which is what happened the last time we had an explosive tech rally in 2000. We got ahead of ourselves but the Actual Technology wasnt there yet. We laugh at the. Com casualtiecs the truth is they are ahead of the time it could have been chewy i want to take on the hateful 1999 analogy, remember when it was shot up in 2000. I want to take it on directly. You have to understand why its misleading and constantly brought up and why it makes sense to do so because there are surface level parallels but not that much otherwise. Back then we had two markets, the s p 500 and the go go nasdaq which is a little like today only one of those markets was real the s p. Thats a major difference this time around. Im more confident in todays Tech Companies even if the valuation seems stretc
Well talk to one about what shes doing to protect her homes. A little good news and positive trends being seen at airports around the world. Friday may 8 you are watching Worldwide Exchange here on cnbc good morning, good afternoon, good evening welcome from wherever you are watching im Brian Sullivan i think i speak for all of us as a say tgif stock futures are up 270 points right now. Perhaps the Market Knowledge of the day, for some reason, if you tuned out yesterday. We have some gains the nasdaq is now higher on the year hard to believe given all that is going on across the country it is true with yesterdays gains that the nasdaq is now positive the more condensed version is up 4 this year it is really the big five Technology Names you know. Apple, google, microsoft, facebook are up on average 10 despite concerns about Consumer Spending on advertisement. Google and microsoft are up. Improving is the work from home and stayathome stocks. Zoom, netflix, paypal have all soared since
Store has been here here for 14 years. The owner says Santa Clara Countys tighter restrictions will and should prevail. The day that the governor said open up, as we get this alert saying stay home. So its confusing, but were following the county. Reporter along with clothing stores, the governor wants to reopen music shops, florists and sports goods stores. A big development. Today the county opened two new Testing Centers in san jose and gilroy. Thats significant, because Health Officer dr. Sarah cody told supervisors today increased testing is one of the restrictions to easing enough hospital beds for a surge and Contact Tracing for 90 of cases. This Virtual Exchange at yesterdays supervisor meeting demonstrated the potential for confusion and contradiction. When you increase the number of people you test, then youll get more positives. As we start looking and finding, we hope that we sort of jump up to a like a new normal. Reporter the owners cant wait. Theyre expanding their onlin
Consider the circumstances where the dow dropped and nasdaq is down. 04 and think about it were on the verge of escalation on the raid war and our countries is divided like no time since the civil war and the yearnings are barely expected to be up and two contenders for the democratic nominees have problem with big business and the market is still in bull market mode and it keeps climbing. First, you got to remember a year ago things seemed incredibly bleak the Federal Reserve decided to hit us with a series of rate hikes right when the economy started experiencing turbulence and it got obliterated you could see that there for most of 2019 we were rolling back to 18 losses. S p 500 got blasted from 2937, that was last october, down to 2346 at the lowest last december, pretty soon were going to annualize that when the fed got a clue and changed course, it came back like a coiled spring which is why it is now at 3135. Boom fed gets religion, boom like that of course i dont want to blame
Of december and november was a very strong month for stocks, even though you did see some declines on black friday youre looking at the best returns we saw since june for all of the major averages. Last week again, you did see some big gains too right now the dow, s p and nasdaq are still less than 1 to 2 of the intraday highs with these gains, youll see them challenging that as tom mentioned. Although, i also remember last the first trading day of december last year. Not quite as much fun. I still have some night mares about that. Would not be the only one with scars leftover from that. I think the dow was down 15 at one point in december last year we were having a great year. Markets were up, not up like they are this year. Bottomed on christmas eve, december 24th and saw things take off from there. Its been a very strong year. Will a santa claus rally power the s p 500 and dow to their best year in a generation . Could happen. Were up a lot. What will that take to get there, 5 . Pro