A much overdue look at the cyclical rally and the reopening story in general the v rally that a lot of people have been hoping for has been inverted theres an inverted v thats actually been happening. Lets start with Energy Stocks marathon, mro. Marathon was 6 at the start of the month. It goes to 9 and back to 6. This is essentially an inverted v. Hess looks the same way. If you look at general electric, it goes from 6 to 9, i believe, and goes back down again to essentially 6 and change, same situation, a v there caterpillar looks the same way united airlines, we watched with our mouth open it goes from 30 to 50 and back into the 30 range, all of this in a few weeks the market cap of citi group goes to 60 and back essentially to 48 thats what im talking about these inverted vs travel and les yoisure, 30 to. Youd think bond proxies would do well in this environment, but not today. They had a modest rise about 10 in the last few weeks, but even they werent safe. The market has voted it
But a buy here and now does microsoft hold the key to new market high sns guy what do you say. First of all, you have to you know, we criticize dan on twitter. Really. He is criticized. Dan. Why. Why is he criticized on twitter. For being do youwers. But cant coined maga we can fire the graphic at the top of the show. Dan does know a lot. The maga trade. Yes. And look at the m. In maga as we know is microsoft so. Some hat. On straight valuation price to earnings its expensive look at the last quarter i mean, eps beat was significant. The revenue beat was amazing azure grew 64 year over year. Operating margins 230 basis points better year over year its hard to cast aspersions yes trading yall alltime high. People make a big deal of the 40 billion. I want 4 of the market cap, not insignificant. Answering the original question it can rally into earnings mr. Maga. What is a i. You from a trading standpoint, the stock broke out in early june about 130 basically trading between 130 and 140 s
War with china i would love to tell you it doesnt matter for the stock market when a clueless day with the dow gaining 38 points and. 30 and nasdaq. We care about the future, not the past, the fact that the Federal Reserve is set to lower Interest Rates because of the slowdown is huge we get enough hints in the feds Statement Today that the next rate for moves is down and when its down what do you want to do lower stocks the rates translate into a better economy and borrowing is cheaper and more money flows into the system via credit and commerce picks up. At the same time short term is just as attractive and earnings are boosted and highdividend earning stocks are more valuable so welcome to the rate cut cycle here we go ive been through this so many times, i have my own playbook. History says you should buy, buy, buy we could get a rate cut as soon as july. Well get a rate cut i thought there would be a rate hike in july four months ago when the president was thinking things the fed
For boeing from one Major Airlines ceo. His comments coming up in a cnbc exclusive. Later on, the stock that could replace tesla in the magnificent seven and why today may be the opportunity to get in at a discount price. It is friday, march 15th, 2024. You are watching Worldwide Exchange here on cnbc. Good morning. Welcome to Worldwide Exchange. Thank you for being with us on this friday morning. Lets kickoff the hour with the check of the u. S. Equity futures after the first down day for the dow on the last four on the back of the ppi. The dow implied higher by four points. S p by three points. The nasdaq down by eight. Very, very steady for the time being. Heading into the final trading day of the week, the major averages are holding on to thinner gains. 50 gain for the dow. S p is in a similar move and the slight discounted gain for the nasdaq. You have to not so far for the nasdaq 100 overall on pace for the first backtoback weekly loss since october. Checking on bond market yield
A georgia grand jury indicts former President Trump charging him with felony and racketeering the defendants engage in a criminal racketeering enterprise on the record, ron desantis talks to cnbc exclusively that bob iger should drop his lawsuit and talks tough on china i view them as an adversary you have to deal with a lot of people that is not the direction we need to go now, good morning. There is a lot going on in markets this morning ill highlight the top stories we have been talking about in the last hour or so. First, lets start with china. China Central Bank Cut the onemonth loan rate by 10 percentage points. Earlier, the Chinese Central Bank did cut the key rate in the oneyear rate to another set of weak Economic Data coming in and Russia Central Bank hike to 12 during the emergency meeting after a plunge in the ruble. The central bank warned pressure is building in the economy and that is the reason they did go for the aggressive rate hike 350 basis points from russia throug