Their latest financial reports. Susan lee sat down with apple ceo tim cook this afternoon. Weve also got some very big news just out from twitter from the Ceo Jack Dorsey. We will tell you what you need to know about that before the markets open tomorrow. Im david asman. Joining me on the panel today carol roth, steve forbes, and zachary karabell. Lets head to susan lee who is at apple headquarters in california. A big beat by apple. You have more specifics from your own personal time there with tim cook. Thats right. So i think the main take away is that it was a Strong Quarter and also a very Strong Quarter heading into the holiday season. Tim cook says hes very bullish heading into the holiday season. The iphone 11 has been received very well. In fact, he sees the u. S. Economy as being very strong. I asked him about the u. S. Consumer given that we just got an Interest Rate cut from the Federal Reserve and in his view he says he feels very good about the u. S. Right now. As for chi
Wall street darling. Which is off 37 . From its 52week high. The second worst performer in the entire s p 500. Joe, you used to love it. I used to love it. Whats going on . I used to own it. Whats the problem . Listen, its about competition and allowing others into your business model. And you not understanding that you need to be more dynamic, more diversify and organically grow. Obviously in years past we knew that other was step into the space. That has happened. I think whats discouraging if you think about it, is its domestically oriented. A higher u. S. Dollar. Weve got lower energy costs. You would think that this would translate into a recovery for this company. The Company Needs something. Maybe its a new management team, needs some form of a shakeup. I dont know where the shakeup comes from. Maybe it comes from the activist community. Steve can speak to that better thanky. Something has to happen. Not a name, ive owned in the past. I dont want to own it here. Is this investib
Dow on track for the worst month since january. Icahn the latest the step down as an adviser to the president and now looks like there maybe communications with all of that and another shot fired in adps ackman battle. Well break down what that means. Four week losing streak for the nasdaq and given sort of these levels here. Not surprising that the dow is on track for the first month since january. I have been watching and reading and theres people that feel that a 2 correction was warranted. Thats not a correction. I mean, we had a meandering. Things have been good. Theres things like foot locker that are devastating things like estee lauder its just hanging in there oil tried to put a bottom in on friday news camp was good for oil but that was the most noteworthy thing that i saw obviously the bannon news was okay cohen in and banno out. The failed socalled bannon rally bother you. Not at all. Were at a moment where theres more people taking vacation than usual. These things i know
Rallying and the 10year moving high owner the fact that the fed if anything worried about inflation and growth move, i mean, try to put it altogether and create a coherent narrative. I cant. Maybe the panel can. We have other news but first of all keep an eye on this level. 1962 was yesterdays high on the s p 500 index. Write that down. We took out yesterdays low on the open this morning. If we were to close above yesterdays high, technicians call ate key reversal day and would put a potentially bullish move for the markets. If we get a push higher here in the hour and see what apples doing because carl icahn put out now very sophisticated with the tweets. He is tweeting of what to tweet about. Well, thats true. Thats true. Almost like we have to watch his communication strategy as much as he tweeted out to send an open letter to tim cook, ceo tim cook, tomorrow. With all of the agitation at apple, the stock is up 50 in the time. Hes going to send an open letter to tim cook tomorrow an
Buffet made big moves in the stock market a couple of months agatha we just found out about last night. Buffets move seemed to overshadow the whole session. S p back. 3 . Nasdaq advanced. I have long been a believer in doing your own homework and finding your own Comfort Level with individual stocks. If you cant do that if you cant do the research and make up your own mind its imperative that you do not follow someone, anyone blindly whether it be me or a money manager you saw on television, a ceo that talks a good game or even yes, warren buffet. If you cant do the homework and you still want exposure to the stock market just go buy a index fund. I love index funds. They allow you to eliminate single stock risk meaning the one stock you can buy can be caught up in a scandal or miss the quarter repeatedly or simply not participate in the general upswing that youre looking for. There are plenty of indices out there to like. Its a total stock market return. Meaning all u. S. Stocks. I ca