) closed Tuesday in the green. The Dow Jones Industrial Average pushed ahead by over 160 points while the Nasdaq Composite and S&P 500 boasted new record highs. However, on the political front, worries are growing about Biden's ability to stand as the Democratic Party's presidential nominee.
And well, NASDAQ is right there on its doorstep, but let's take a look at the sector action first and we'll circle back here.Amazon and Tesla, Tesla having its best day in a number of weeks, they're up 10% as it cracks the $200 level. But look at real quick just briefly, we uh dipped above the inverse head and shoulders here and it looks like we're off to the races.And then I just want to take a look at Chinese stocks because those have been under a lot of pressure.
But I think it's important to recognize that when you look at the health of balance sheets in emerging markets, they're superior today at the sovereign level at the country level than many developed markets. Um consider the largest chip maker in the world based out of Taiwan, the largest memory chip producer in the world based out of South Korea.
Uh India, market wise is trading at over 21 sorry, almost 24 times price earnings ratio which is, you know, expensive vis a vis on history, vis a vis other markets. I think if you see uh if you start to see more uh elected Democrats like congressman dot coming out and saying yes, they think Biden should withdraw and especially uh if you would ever see uh the name brand uh Democrats in Washington, Chuck Schumer in the house, Hakeem Jeffries anybody from Obama, Obama's group of people starting to say it's time for Biden to go.
Um And one thing that will really be influential is if these polls start to show and this CNN poll that Shana mentioned at the top does show um that the numbers are worsening for Biden.Um We're going to see a lot more polls in the next few days and that is the main thing I think everybody is going to be looking for is is there a significant worsening for Biden?
I mean, you just have to be direct about what actually works in the world and not afraid to offend people by doing what's right. I, I don't think Biden is, is cogent enough or, or bold enough to interact with things in those common sense ways.So I think this administration is full of people who are more focused on virtue signaling and not focused on actually getting things done.
And so, you know, II I think protecting certain things domestically is a populist right policy that's very popular.It's not crazy and it is potentially uh the right thing to do sometimes to protect some of these communities.Now, any thoughts on who you would like to see as his VP, any thoughts there, Joe Vance, Ruby Huckabee Sanders, I'm friends with like, four or five of these people.
But fortunately, I don't think that that goes totally away either, you know, you know, America is going to be strong, I think either way.I think generally the value of our investments, the value of like being able to disrupt things in the economy aggressively with A I and create wealth that that's all going to work better with more free market policy with less law from the regulators with less of the administrative state randomly harassing people.
One of the companies I started this year, one of the biggest deals in the last couple of years thanks to Lina Khan blocking the bigger ones.You know, the sec harassing people meeting with Sam B free but not meeting with other crypto CEO s who didn't donate to the left, right.It's just like law farre and corruption and waste and idiocy and coming out of the state.
Uh I think it takes a little extra bit of courage to come out and, and write that, that you're actually supporting Trump because of it because obviously we have two flawed people and you have no perfect choice here.But as a leader, it's my job to, to set the tone and to put out what other people are afraid to say, Joe Great to have you on the show as always.
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