Earnings we start off with the one chart in the market that seems to be getting no attention check out the xrt, the retail etf up 12 this year the xrt taking another leg higher today on the back of a strong retail report is this retail recovery for real and if so, how are you playing it brian kelly, kick us off. I think theres a couple Different Things yes, there is a retail resurgence i think a lot of it had to do with the stimulus, but a lot of it had to do with a change in the way people are working the top five to ten holdings are heavy ecommerce, overstock, etsy, wayfare. Be careful what youre talking about in extrapolating this to mall based retailers i think mall based retailers are going out of business. This is the new wave of commerce its ecommerce. I do think that continues. The caveat is it would only get stim stimulus and people dont have that 600 check dor, do we get stalling in this do we get a stalling with walmart . Maybe theyre not as exposed to the stimulus check sin
Handle all of the different relationships. When you have money, that weak dollar, has fueled stocks going higher and old going higher out of the march highs for the dollar. Investors turn to the Precious Metals and gains for stocks cool off, it creates an interesting relationship. David exactly. It is hard to imagine the fed is going to say remarks that is going to strengthen the dollar. Maybe there is no alternative to stocks. Abigail in terms of the meeting this week, it is unlikely there going to say much. They may set the ground for what could happen this fall, but in terms of dollars going into gold, if you think about it from an allocation perspective, all of the fresh dollars investors have or as they take chips off the table from the big tech names, into gold, it could create the headline where you have gold searches again but tech stocks down. Not great optics. Hopefully it doesnt happen, but it is an interesting relationship with this week we have some of the big tech executi
Famine market ive ever seen either the world is ending or everything is going to be just fine. House of pleasure no middle ground. Problem is, thats a terrible way to invest. Have to try to keep a level head, not too negative, not too positive thats how you handle days like today where the average is up and down, big before covering, not only gaining 158 points. S p climbing. 83 . The nasdaq jumping 1. 43 down so horribly, wow, let me break it down for you. This morning at 4 00 a. M. This market looks horrendous. Down a thousand points why . Nobody really knows. We heard it was because of covid spikes and outbreak in china i was watching the tape and it was all about the same, the big declines in royal caribbean, norwegian cruise, carnival, apache, united, continental, southwest, kohls, everything got crushed last week, everything that always trades before the market opens. Why dont we call them unusual suspects thats the new playbook for all the novice investors who crowded into the m
Continues to rise significantly in terms of the virus and we talked a lot and well hear from meg again and meg has been following it so closely for us and the market only seems to go up as the cases go up. That is leaving some people scratching their heads and others view it as were going to get to the other side and a view of what the economy will look like and then you come back to the fed, carl, which seems to be the fuel that everybody sort of points to as the key fuel, i should say, for this market. Yeah. Morgan, lots of notes over the long weekend and we hope everybody did have a great, long weekend. More debt and liquidity and asset reflation. That was literally the title of the jpmorgan note on friday. Yeah, for all those folks that were basically still stuck at home or not traveling and getting on airplanes, lots to digest in terms of market commentary over the weekend. I would add to the fed, i would add the expectations that do seem to be baked in around what phase four fisc
I included Newmont Mining because gold is nearing 1800 an ounce. Sovereign yields are also down. The german 30 year yield falling below zero again today. Airlines and Cruise Companies make up four of the five worst performers in the s p 500. That is the flipside of the move to safety. Big will have the carriers are burning through as much as 45 million daylight, which is still very weak. The flipside is the bid for stayathome stocks. Netflix and clorox making new record highs. Netflix extending its gain to six days. 2020, even2 in though it trades at 32 times earning as opposed to credit to 20 times for Consumer Staples Everyone Needs their clorox wipes. David you can never get enough clorox. Thanks to scarlet fu. Lets talk about the big rally President Trump plant in tulsa. The rally was saturday, but he had 6000 people in an arena set up for 19,000. They thought they would have overflow. They have the reverse. Lets bring in rick davis, our political contributor at bloomberg. They rea