The best week since 2006 is apple now the king of the market brian kelly, youre worried today about opening at the highs. Here we have great price action. What do you say . Yeah. So last night and then even this morning i was very concerned that we had these blockbuster earnings from big tech and the market not responding. The standout was apple all day long and so that gave me a little bit of confidence and then you saw just continue to be strong the whole time so lets look at apple. What happened . They had tremendous earnings they have multiple cat lisalystd the services of a bigger part of the earnings is starting to take hold and argue and of course you can argue that it would deserve a higher pe ratios i find thats absurd and here we are what did you make of the action . Listen. Bk or beakers knocked it out of the park just like apple did macs are up in terms of sales and wearables. The Service Business although i think that was up about 15 . 258 per share. Theres not much not to
Fed governor saying the fed is likely going to need to shift its Monetary Policy from a policy of stabilization to a policy of accommodation which means helping the economy achieve the level of growth that it has previously. Remaining low until certain Employment Outcomes are hit. A thick fog of uncertainty now surrounds the United States. She goes onto say the Downside Risk dominates the strength will depend on Additional Support along with Monetary Policy. She urges fed emergency facile tills to be as broadly accessible as possible perhaps a concern on her part that maybe some of the current facilities are not. Melissa. Does she sound much more pessimistic compared to other Federal Reserve Board Members . She does sound somewhat more pessimistic but the fed overall has been more pessimistic than the market this continues that concern. The concern about uncertainty that really has been a consistent note from fed chair jay powell but perhaps youre right, shes more pessimistic especiall
Begin with the latest flare up in china beijing announcing new security measures in hong kong send iing the hang sang to its worst day in almost five years the move escalate iing tensions with the United States with President Trump threatening quote unquote strong reaction to the crack down so does china become a bigger head wind for the markets . Pete, what do you say . Yeah, it seems like theres a dimpt new story every day that seems to lead us up or down. On literally every day, whether its earnings one day that we focus on unemployment in your opinions. China, another day the virus of course and somebody having sort of a vaccine of some sort or another. Always something leading the markets. What i was encouraged by today, china and the u. S. And some of the issues were going to be facing Going Forward it seems to me like weve shaken that off well its been an impressive ability of the markets we could have slid easily today and down 400 points going into the weekend like a friday or
Risks to the Economic Outlook. The fundamentals of the u. S. Economy remain strong. The Unemployment Rate has been near halfcentury lows for more than a year. The anticipation of job gains have been solid and wages have been rising. These strong labor Market Conditions have underpinned solid household spending, which has been the key driver of Economic Growth over the past year at the time of our fomc meeting in january, prospects for continued Economic Growth remained favorable, and we judged that Monetary Policy was well positioned to support that outlook. Since then, the spread of the coronavirus has brought new challenges and risks the virus has afflicted many communities around the world and our thoughts and prayers kgo out tho those who have been harmed its also disrupted Economic Activity in many countries and has prompted significant movements in Financial Markets the virus and the measures that are being take on the contain it will surely weigh on Economic Activity both here a
Earlier. Oakland come on short 5 00, and calm over santa rosa, and nevada. We will be partly cloudy up the coast. Mostly clear elsewhere. Temperatures ranging from 60s along areas over ocean beach. A lot of 70s around the bay are inland cities, into the 80s. A few areas hitting 85. It will be areas like fairfield and antioch. Everybody else is looking quite mild for this time of year. We have 72 in oakland. Into the north bay, 83 and santa rosa. The coastline, 64 expected in pacifica. Temperatures will heat up for tomorrow. Some folks nearing 100 degrees. Details coming on the extended forecast. List check on traffic with sal. We have a lot of traffic out there. There have been a couple of spots were collisions have been worse, and other spots are normally heavy. List got take a lo at the east shore freeway. 36 minutes for this time in the morning. It is not that unusual. There slow traffic all over the place. We have had a couple of earlier incidents, and you can see that it is busy c