Big Moment for 'Magnificent Seven' Stocks

0:00 Speaker 1 Well with us today is John Tarrett and what the heck is going on with the economy. Well, the stock market is strong, and John you fill us in.

0:10 Speaker 2 Well, stop market has been flirting with record levels most of last week, as you know. But it was really about big tech and the magnificent seven in the past five trading days. Let me run through them bit by bit, but quickly. Apple beat Walltreet expectations, largely because of iPhone sales in China. And we heard from John Turners, who’s

0:26 the new incoming CEO. He said that there’s an incredible roadmap for Apple the head. He wouldn’t say what it was, of course, he said that this is the most exciting time in his twenty five years at Apple, alphabetstro Google, eighteen percent of their business is now coming from the cloud.

0:41 Amazon Aws its cloud business has had fifteen straight quarters of growth. Microsoft, there were warriors on Wall Street about capital expenditure. Though Azure, their cloud business did very well, mess her platforms massive increase in capital expenditure, Wall Street is worried that they simply won’t make a return on that investment, and Mark Zuckerberg didn’t say very much about

1:02 it or do anything to Quilver as fears when he spoke on the call last week. So that’s five for the magnificent seven we’ve already heard from Tesla. Netflix is kind of a member as well. The next one will be in Vidia chip maker, and that comes up on Mega the twentieth. The other big story of the week,

1:17 of course, Jerome Powell holding his last meeting as Chairman of the Federal Reserve and that interest rate decision staying the same. He stays on as a member of the Board of Governors, which is his right to do. The big crypto story of the week. This is conference season for crypto people, so they’re all in Las Vegas, La

1:32 and Miami over the coming week. And in the week ahead, John Next Friday, we get the non farm’s job support for April, and the company earnings continue big names like AMD the chip maker, Fizer the drug maker, the Walt Didney Company, Uncle Walt’s company, Uber and McDonald’s all of that in the week ahead. But before you go, Before

1:51 you go, I just want you to tell me what it was like meeting my king, King Charles. Well, is it true that you asked it for a selfie?

2:00 Speaker 1 Some for selfie? And Mayor Mike Blumberg hit my my hand and made my my iPhone go upside down, and uh uh he King Charles we had a long discussion because I’m good. I was good friends with King Constantine that we helped build the church in Havana, the Greek Church.

2:19 And you know King Charles, his father was Greek Prince Philip. And yes, and Prince Pavlo was one of my best friends, his Royal Highness Prince Pavlo. And in addition the fact he liked the Greek tie I was wearing, and I promised to send him one.

2:38 Speaker 2 We have a selfie. What did he say to you? He said, Mike Blumberg.

2:42 Speaker 1 You know, he says it was it’s too close. Thank you, John Terry for coming on this Sunday morning. Bye bye,