China trade talks are off. President trump says hes postponing any talks as leaders, xi jinping reportedly facing opposition from within his own party. Its another big day for retail earnings this morning. We are waiting on lowes, target and tjx opening before opening bell this morning. We are talking with apartment ceo after reporting double beat yesterday. He will talk about the pandemics impact on Consumer Habits and concerns over stimulus checks drying up. Markets this morning looking for another recordbreaking day, take a look at future, indicating a gain, dow futures up 51 points, nasdaq futures up 18 and s p and nasdaq continuing in record territory as you see there they are up this morning after hitting alltime highs yesterday. S p 500 scoring fastest rebound from a bear market in history. Yesterday the dow was down 66, but the nasdaq was 81 and the s p up 7 points. New york city is about to get sweeter, krispy kreme opens Flagship Store in times square, ceo live here at 7 20 a
Yesterday carl was a discouraging day for a lot of people who have been chasing momentum because last week was maybe one of the best momentum weeks i can recall since 1999, which meant that if you bought it went higher and how much fun is that . Yesterday was the day that you bought it went higher and then you got crushed. So i think that usually takes a couple days of reset where maybe you can after stocks that arent as hot, say, as tesla. So you would focus, say, on Something Like the banks ive been through the banks and i know dave and i talk about this all the time, they are incredibly complex beasts, they are not like, oh, tesla, hot and when i first went over them i thought they looked pretty good but already theyre reversing. This is not an uncommon pattern as people find one line or two line that they dont like and then they sell these stocks. David, its happening once again. You know that these banks could have had littered with bad loans, its not, they have great trading, the
What is your thinking here because the terrain is changed a lot and even if one things start opening up a lot of people are very hesitant to spend because no one knows what the recovery is going to look like its kind of a selfreferential issue go ahead yes i think theres also no agreement as to what indicators important to look at. And term and whether this is going to be an l. D. R. You there are folks who point to the stock market. And they basically say oh you know since its rocketing that means that things are looking up well in polls dont realize that the Financial Markets now are very much decoupled from the real economy because. We know that as more money gets invest in it in various corporations that means it is going to be. Fewer people actually going to get employed because these investments are going into technology into robotics and Artificial Intelligence and so yes maybe individual corporations might do better coming out of this crisis but for the average person theyre go
The Global Economy im joined now by u. S. And lee in new york she is author of well chinas economy collapse and what the u. S. Can learn from china and in ankara we prostitute. Learned he is a professor of econometrics as well as the president of the foundation for International Economic research and. Roles in effect i mean you can jump in anytime you want and i always appreciate it once youre going to annan in new york as i said in my introduction and it appears that the pandemic is receding and globally although individual countries still have some most serious issues but now is coming in the next phase of this crisis and figuring out the damage that has been incurred and how to move forward and you know in preparing for this program there are all wild estimations out there. You know b l the you all of that. There seems to be no consensus though there seems to be it seems to be politically driven depending on how much you won one letter of the 3 here what is your thinking here becaus
Rostock in the Global Economy im joined now by u. S. And lee in new york she is author of well chinas economy collapse and what the u. S. Can learn from china and in ankara we crossed the road. He is a professor of econometrics as well as the president of the foundation for International Economic research and. Crossed out rules in effect that means you can jump in anytime you want and i always appreciate what youre going to and in new york as i said in my introduction and it appears that the pandemic is receding and globally although individual countries still have some serious issues but now is coming in the next phase of this crisis and figuring out the damage that has been incurred and how to move forward and you know in preparing for this program there are all wild estimations out there you know the elbe the you all of that. There seems to be no consensus so there seems to be. It seems to be politically driven depending on how much you cut it 11 letter 3 here what is your thinking