Welcome, good to have you with us on this new years eve tuesday. Our Investment Committee here today, joe, josh, jim and amy is back the chief Investment Officer of Chevy Chase Trust and one of barrons top 50 registered Investment Advisers for 2019 we begin with the markets. Stocks are trying to end a great year with another day in the green. Bouncing from the worst day in four weeks we do have big news today from one of our very own, hes making a move on a stock that hes been a big believer in for a big part of this decade. Josh brown, selling twitter. Im out feels good. First time out since the ipo in 2013. Tell us the reasoning. First of all, happy new year and thank you for ending your no, im telling the viewers, happy new year by the way, this is completely filled with gray goose, so take everything i have to say with a grain of salt. I got out of twitter today with a very small profit. I had been adding in the 20s, i owned some as high as 40 around the ipo. It has not worked out.
Discussions on the steps that could bring a 1. 1 trillion omnibus spending deal to a vote. You can see people starting to trickle in. But this is the committee where they look at policy, and they decide whether it should move forward. Budget director Mick Mulvaney just finishing up an emphatic defense of the 2017 deal, saying it was the democrats who wanted a Government Shutdown. But its the commander in chief who took to twitter hours ago warning the government needs, quote, good shutdown to fix the mess. It all comes as investors and ceos wait on tax reform and a fresh reveal of an obamacare replacement, both still simmering on the front burner. It was right here on countdown that that man, congressman andy harris, predicted that the Gop Health Plan would come back to life. Hes a member of the Freedom Caucus, hes a surgeon and, yes, we are ask the we will ask the burning question, will people with preexisting conditions be covered or be left out in the cold . The president and ceo of
Good morning. Welcome to squawk alley. Sarah eisen, mike santelli. Joining us this morning, farhat manju. And also jason calicanis, ins e inside. Com founder. Shares hitting alltime highs this morning. Third record in a row. Jeff bazos speaking at the companys shareholder meeting. Now is not the time for complacency. There is no rest. We can not rest on our laurels. The competition is as fierce and challenging as ever. Speaking of not resting, amazon plans to open the door of a brand new bookstore in midtown manhattan on the site of what was once a borders book star. Farhat, one of the questions is, are they trying to make money . Are they trying to rub it in to these book sellers that they helped put them out of business . Whats the goal here . I dont think they are trying to rub it in. They are trying to make money. Thats what they do, sometimes. Stores are good for discovery, looking at electronics. They can try out lots of experimental things with the check outli list store they ar
Has delivered quite a jolt. Call it a double dose of red bull or not, the bulls not in charge today, the bears were. And technology and Financial Services shares led to major market barometers down. It was their worst day collectively since late july and the fourth day in a row for triple digit moves, three of them down were dogs. Words about world growth and soggy Economic Data set the tone, goods tumbled, biggest monthly decline ever mostly on the demand pullback for aircraft. Also the first time for jobless claims rose 12,000 even though theyre still sitting near sevenyear lows. All stocks dipped, closing back below 17,000, nasdaq down 88, nearly 2 , and the s p 500 dropped 32. Bonds rallied as investors took cover in treasuries, yields on the tenure fell to a twoweek low. Now, a look at todays drop and why big moves are suddenly back on wall street. It was the fourth day of triple digit moves in the dow. Slowing growth around the world was an issue for the markets earlier in the we
Has delivered quite a jolt. Call it a double dose of red bull or not, the bulls not in charge today, the bears were. And technology and Financial Services shares led to major market barometers down. It was their worst day collectively since late july and the fourth day in a row for triple digit moves, three of them down were dogs. Words about world growth and soggy Economic Data set the tone, goods tumbled, biggest monthly decline ever mostly on the demand pullback for aircraft. Also the first time for jobless claims rose 12,000 even though theyre still sitting near sevenyear lows. All stocks dipped, closing back below 17,000, nasdaq down 88, nearly 2 , and the s p 500 dropped 32. Bonds rallied as investors took cover in treasuries, yields on the tenure fell to a twoweek low. Now, a look at todays drop and why big moves are suddenly back on wall street. It was the fourth day of triple digit moves in the dow. Slowing growth around the world was an issue for the markets earlier in the we