 Time to take a look at the markets and joining us Melissa Armo who is the CEO of the Stock Swoosh Melissa welcome to the show and I guess since this is the first time we're talking with you Give us a sense of of where you think the economy and the markets are right now going through 2020 Well, good morning. Thanks for having me. I think the market's very very strong We started out at very strong in January We made brand-new all-time highs in the market yesterday even though we're down a little bit this morning because of the virus scares Honestly, the market and the economy have been so strong to start the year Tesla shares pulling back after the news of that common stock offering So I guess that puts a little uncertainty finally on the bottom line of Tesla for the first time in a while Well, I think even if even though it's down today slightly as well When you look at the the move that the stock had after the earnings again This is the end of January into the beginning of February. That was I've never seen a move like that That's gotta be honest with you. It went from six hundred to nine 68 in less than a week So I think if it falls off a little bit for whatever reason the common stock operating I don't think it's a big deal in fact right now the stock is rallying to dig up down this morning I think on the next earnings theme What effect takes place with doing this which is going to be April 22nd So we have a couple of months to go But I think that a thousand number is still out there for this stock and they just want the financial backing To be more solid and I don't think that's a bad thing So when you throw numbers around like that then I'll counter with are you starting to think about Dow? 30k and NASDAQ 10k Well, okay, let's look at the Dow I think the only possible drag that could happen on the Dow is Boeing because there's still some issues going on with that stock and that's such a big component of the Dow I remember there's only 30 stocks in the Dow, but Let me just pull this up here right now and look at this chart now I look at the diamonds, which is ETF for the Dow, but we made brand new all-time highs in that yesterday We did not get to that 30,000 number, but we got just shy of it So do I think that that's possible? Yes I can't tell you the exact second, but I will say Apple which is a leading component in the Dow and Also in the QQQs, which is another market in this that I watch Is nearing the highs and since the earnings on Apple it didn't really explode I'm expecting that to happen sometime soon Now remember Apple closed some of the stores in China because of the virus When they reopen their stores, they were set to do it Monday then they pushed it back It could be next week if they do that's probably going to create a list in the stock And I think that that Apple goes to 330 and again That's going to lift the market up and then we could see these big numbers that everybody's watching in the Dow So is the pullback today on Wall Street tied to the those change of numbers? coronavirus and how China kind of tweaked their their methodology in terms of collecting all of the potential cases I Think I think that the market sold off late last night because of the virus Concerns that there's more cases and the World Health Organization also came out. They're concerned about some Mutation so all of that isn't good Then there was the case that happened in California where there was a testing issue and somebody was released and they really had more Infected so I think there's a lot of things going on right now Which have to do with fear when there's fear when people are scared they tend to sell so they sell first ask questions later And so that's what you saw last night and that's what you saw this morning with the selling in the market But I've got to say 10 16 in the morning right now. We're not we're holding on I mean, we're still not that far off the high the market is not Reacting panicking today on the live day. We did in the morning early and we did last night late But the markets trying to hang on to these games I wanted to end up talking to you about a company in my industry in general McClatchy newspapers obviously the newspaper industry in the media industry going through quite a lot of ships right now But for McClatchy they filed for bankruptcy Maybe not necessarily a surprise with what has been going on in that part of the media world It's not a surprise and and they're using the bankruptcy should be used for for reasons that make sense And I think that's why they've decided to do it I think financial it makes sense for them to do it. It's the last resort option the stock is barely even moves anymore I mean, it's under a buck But I think the problem is that people don't want to pay anymore to buy newspapers and it's unfortunate I think it has to do with the age group of the people now They're getting all their news from social media people are getting their news from Instagram event And he said well, that's just the picture post and like one sentence I think as you start the industry itself like what you're talking about It's sad because real reporters real writers real investigative journalists are the people that work for papers and Like this paper and that is going by the wayside people that write a one-sentence blurb that goes in Instagram Are not what I consider real reporters and it's bad because people are getting Misinformation and part of that is the lack of real journalism that's happening because of the way that people don't want to pay for news When they can get it online for free. It's a story. We've been talking about a lot the last couple years Melissa Thanks very much for your time today all the best Thanks, Melissa Armo CEO of the stock swoosh having backdoor access to