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Materials, industrials hitting new intradays. The small caps doing well. The russell 2,000 at the far right side of your screen. Jim, i want to know where you think we are now you have great vaccine news. Its consistently great. Were not that far from 30,000 on either day we have headwind tailwind. Each day you can make a tailwind case i can make a tailwind case that you have to buy the airlines right now. This norwegian cruise deal is done, you want to buy that group. I can make a case that you have to buy the stay at homes, the deep cyclicals, a case for the technology stocks. This is what weve looked for. Thats why i came in gunning for the armageddonists theres a fabulous piece out that covid did not rescue the armageddonists from underperformance and purgatory its time to call them out im asking all the panelists to call out the people who said it was the end of the world call them out. Well, weve gotten great vaccine news it sounds like to me youre saying you can still buy the cr ....
Major amples we saw a surge in cases for example, in other parts of the country that had not been as hard hit jim, i can go through a list of things this morning that perhaps would give investors pause in a different environment, whether it be beijing, and the recent closure of schools there as they deal with a surge in cases it is only 137 but nonetheless. Flights also there we will get the update from beijing. Layoffs at the likes of at t or hilton quest giving us gooit guidance that still speaks to the weakness of that business. Yet here we are with potentially another rally in store a half hour from now. David, all of those things you just mentioned were things that maybe we expected to happen im looking at 25 pieces of research that i have sent to you in synopsis, the vast majority of them are raising price targets. Why . Because the targets were slashed before we knew that the Federal Reserve was going to back stop all of t ....
And thats when the Trading Halted it slowed some of the panic selling, the machine selling and at the end of the day, still down more than that for the dow futures for the dow a decline of more than 2,000 points. Youre looking at a big bounceback but only half of the declines from yesterday. Up by 1100 . It found some support and then it was down 5 and then it closed about where it was indicated to open. Right. But we kept saying what if the garden variety correction is 12 we got a pandemic whats a decent where do we got an additional 18 or 19 yesterday. Well, in total. Down down 18 or 19. Yeah. If it goes from here up 1,000 today youll once again be the call of the bottom you will be ill take it. I hope im the call of the bottom. I hope you are too. But its just consensus. Just the feeling that everyone has at the same time that you express. Thats all it is thats many times that is the indicator. Do you think do you think we have ....
He basically said the border adjustment tax as written, current language from the gop is mot something the white house would support. This comes about a day after a reuters story where donald trump seemed to hedge a little bit on that and seemed to suggest some support. Cohen seems to back drtrack on this morning. Could it be reworked . It also comes 24 hours after treasury secretary Steve Mnuchin told our becky quick that all options are on the table still. The cohnspecific negative sentiments were specifically on the actual language, the actual talk that the gop has had specific language. I think it certainly could be reworked. He did not say that the concept was objectionable but the way it was worked out. Dan, longtime finance guy, covering banking, private equity, et cetera. From your market expertise, its brian sullivan. From your market expertise, do you think that the market is maybe overreacting to the upside, given your s ....
Good morning, welcome to Worldwide Exchange on a monday on cnbc. Im sara eisen. Im wilfred frost. Well bring you up to speed on what the markets are doing right now. Last week we ended half a percent to 1 down for the three major averages. Those declines really coming on friday for the rest of the week looking pretty much flat. Today were looking at a slightly positive open but not too significant. The dow falls higher by 24 points. The s p by 3. 4. And the nasdaq by 7 points. The tenyear note as we know in and around 7. 5 the last couple of weeks. And its towards the 1. 7 level right now. 1. 714. As for the Global Market picture, traders shrugging off Economic Data out of china. We got chinese investment, factory output and retail sales. All of them grew slightly more than expected, slightly less than expected in apri ....