Hear from mike roman later on today, july has been very good i think you will continue to get a positive from housing, this horton number is the number people should be focusing on because it was stellar you will get a lot of people talking about how there is a lot of good news in anything involving personal fun, polaris, but just were just in such dim tidings when it comes to aero space thats what im focused on greg hayes, 2023, oh, my. You were just talking about that and then iata, the International Air transport association is saying 2024 for precovid traffic levels they also point out that airlines are adding capacity, jim, ahead of demand which is coming back slower than they thought. Personal travel, people want toful tra, we know that. Great Conference Call by American Express on friday about what people want to do, but the Business Travelers is where they make all the money and the Business Traveler is zooming they just arent going i dont know what its going to take to bring t
Retail certificate going to zero not every biotech will keep growing every day. Thats the way it feels on a gay when oil imploded. The stock market got slammed because of it. Dow losing 592 points. S p sinking 1. 79 , why, of course its got a lot of tech and biotech. I dont blame a soul for being confused here. Buy, buy, buy a. Sell, sell, sell. The situation is, confusing were in Uncharted Waters now. It doesnt lend itself to easy explanation. We have to take them one at a time because some of these are so extreme they almost feel like science fiction. Like the price of oil falling to negative 37 and change today. Yeah, thats right you heard me, negative 37, minus sign lets start with oil as that meltdown was terrifying to watch. At dawn crude was a buck and a half, little below 20, seemed okay by the time the stock market opened it was down to 11, negative whoever owned the oil last had to pay someone else to take it off their hands. Next thing you know it was negative 10, negative 2
Government in a phase four plan. That is helping to lift equities. No surprise, you have the underperformers again starting to surprise. Nordstrom and the gap are the two strongest is in the s p right now. Those are the names rallying. You have to wonder about the efficacy of the rally. Priceslped by energy getting some stability in the u. S. Despite the fact we saw an and norma screwed inventory build of 15 million barrels. I had to actually look three times out the number because it was so big. You are seeing that risk on continuum, but i have to have doubts when you have nordstrom as the Top Performing stock in the s p. Guy lets talk a bit about what is happening in more detail in europe. We are trying to figure out what is going to happen next. Eu ministers are divided on how to finance the regions fight against covid19. Yesterday, 16 hour call. Tomorrow, they were doing again. Aance and berlin both saying deal is close. The question is, what are the sticking points, and how big ar
Furloughs taking place the other thing to keep an eye on is the high yield bond etf, hyg, and also the junk etf, spider, bloomberg, bark clays, hy bond, jnk were seeing those jump because of some of these fed actions which include now basically buying into and helping support u. S. High yield corporate bonds, so really talk about taking all the tools out of the chest its cause something strategists to now circulate notes today asking what could potentially be next for the fed is it going to be Something Like buying into actual equities . Guys carl . We are glad back to have on our air art cashin, director of floor operations at ubs and bob pisani art, we have missed your guidance and wisdom over the past few weeks as you recover from an accident, but its great to have you back let me just start off by asking you about this historic fed move and as you said in one of your notes this morning with powell on the tape, the game is now on the table. What do you mean well, its, you know, the
And the low the low. Temperatures are in the 40s and 50s. Oaklands at 50 degrees. San joses under cloudy skies. A lot of cloud cover but the system is too far to the south. Could be some very light rain but the lower layers of the atmosphere are extremely dry. 40s and 50s for most. If youre going to Southern California theyll get cloud cover and rain. It will be warm. 60s and low 70s here. Sal castanedas here. The peninsula still slow, sal . Thats right. We still have a couple of lanes closed let me put this on a map for you. Southbound 101 heading down towards san mateo. Right near 3rd, the traffic is backing up now as they continue the investigation. Alyssa harington is live there to show us the scene of a crash thats deadly. Behind me, you can see the crash and i want to show you whats going on with the lanes of traffic. Chp has closed all lanes again. What weve learned is that the person killed was a Good Samaritan who had only gotten out of his vehicle to help another driver. Just