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And maybe some headlines on stimulus before then hit a bit of a dip here dow down 150 or so. The nfl confirms covid cases among players and nonplayers with the Tennessee Titans. And governor comeau saying theyre now up 3 . We might start to talk about schools closing. Meanwhile valuations is where we will begin this morning as investors try to interpret data. The price to earnings ratio of a nasdaq 100 of the last ten years, the pe ratio, it is doubled and it is at that alltime high. As you see up there above 30 it was at around 15 to 18. 40 of that index is made up of just the five biggest tech stocks so here is the question. Are stock prices in big tech stretched to a point where the value wakes no longer makes sen. We have the editor and chief of the verge joining us we have not seen valuations among the biggest stretched to this point in a long time. I kaech hearing this whole peer group value thing, but what if theyre all o ....
Gained 160 points, but the nasdaq dipped 3. 4 we still care about the federal reserve. They know nothing just kidding. Or the president s speech tonight at the Republican National convention. But the core question is very simple, do you think we can beat covid19 sometime soon or are you expecting it to plague us into next year that can be difficult to see today, we were obsessed with fed chief jay powells big speech at jackson hole we parsed every word, and it wasnt worth parsing he was a prisoner of the flimsy orthodoxy, but these days he doesnt want to be the reason the economy falls apart. Hes saying forget the foolish ways of the past 40 years of fed chiefs his goal is to help the economy, period, until the pandemic lifts. Its joyful. Hes really smart and good guy thats a stock market like a supermarket. There are some aisles we want to go to when the virus is raging, and theres others we want to go to when its on the rop ....
Out. But right now, just one quick s p indicated up about 18 points that would also put the s p at question for you, target missed and raised questions about this. Was that a target specific an interday record problem . It looks like holiday sales were the nasdaq up about 55 also pretty good. Yeah. Putting it at an interday and target was able to maintain record the futures all comfortably margins. Meaning, they ran out of above that right now inventory on some issues they werent overstocked on some of those things. I dont think it was a problem the yield right now in the with the consumer. Walmart did well, right walmart had good numbers amazon had good numbers. 10year below 1. 87 . I think its problem. Welcome back, everybody. Take a look at the futures emblematic of problems they had the dow, the nasdaq and s p 500 in a few areas specifically china premier speaking out all set to open at new intraday electronics and tois not growing as much as they thought. Levels well see you tomor ....
All right. Good afternoon, everybody. We are all very excited to be here with you on behalf of secretary elaine chao. Our let our panelists introduce themselves in a moment. We want to let you know we appreciate how much you taking the time to be here with you today or to be with us today, youre a critical audience for us, representing the researchers, for advanced transportation, trv is an fantastic event. You tend to be a lot of people that understand what were saying more times than not and hearing from you helps to inform everything were doing. We appreciate everyone who came to the Human Trafficking panel earlier today. With safety being a top priority its something we need to take action on here and now. We look forward to you coming back later today. Well be talking about the secretarys top priority, to engage with these Innovative Technologies to ensure, t ....
The Halftime Report started right now. Welcome. Good to have you this thursday jim lav leventhal, the brothers najarian, we have a big show first we want to get to Steve Liesman who has just sat down at the table with what the fed may do in the weeks ahead. Yeah, scott i think the story has to do with that a pause is coming and the question becomes when its coming i think theres an oddson bet that the fed is likely to cut in october. But its a massive cut and if they cut in october, is the market thinking about that the fact that there would be some kind of pause and powell has signaled this several times publicly hes talked about the 1998 cutting regime three times this will be the third time. I will tell you, the comment yesterday from charlie evans, a guy who has been massively in favor of rate cuts, he said i dont push any cuts the rest of the year match that from tweets ....