President once again targets the fed. Huawei restrictions relief tech executives expected to make their case to the white house today. And equifax to pay as much as 700 million for that 2017 data breach well start with futures, though, set for a higher open. The dow, s p and nasdaq all lower in three of the past four trading days big week for earnings. Well hear from phobia, amazon, alphabet were a week away from the feds decision on rates. And then the president today is tweeting its far more costly for the fed to cut deeper if the economy actually does in the future turn down very inexpensive in fact productive to move now the fed raised and tightened far too much and too fast. In other words, they missed it big. Dont miss it again. Of course now the fed blackout window is in place so we wont get a response to that, jim, before the meeting. Look, the president is he wants that last hike repealed. I think that we have to hes obviously a lightning rod beyond belief, but its perfectly r
Off earnings season. Trade war slowdown, china posting the lowest quarterly growth in 27 years and Silicon Valley tech lash from one of its own, peter teal calling out google, alleging, quote, seemingly treason ous acts well begin a new week, stocks on track to hit fresh record highs. Citi kicks off earnings season with better than expected results held by gains and Consumer Lending also in focus, china, slowest Economic Growth in 27 years in q2 gdp at 6. 2 for june, Industrial Production, retail sales, fixed Asset Investment all beat expectations, leading some guys to think maybe the Central Banks work is starting to filter in. I think so. The bears have the work cut out for them right here. If you watch our crawl underneath, youll see the semiconductors going up. They wont have good quarters. People are looking through why are they looking through not necessarily because of china, they say pc sales will get stronger the economy will get thats western digital. Fairly typical because o
Kick off the final hour of trade. Look at the dow jones industrials, down 40 points. Low of the session, down 291. So a big comeback here. The s p 500 down 19 points, but weve got breaking news on the nasdaq. Right now it is still falling deeper into the correction hole, right now down 122 points. Of course, it tumbled into correction yesterday. Right now the techheavy index though is well off the lows of the session. You can see low of the session a loss of 277, so weve chopped that in half. Yesterday though the composite suffered its worst day in eight months, clocking a 318point loss are. Alphabet really led the dive into correction with a bruising 9. 5 loss on weak cloud results, the google parent getting hit again this session, down 2. 69. Off the lows, but thats good for at another about another clip of 2. Yesterday was the worst performance for the stock in three and a half years. Microsofts 3. 1 gain wednesday was not enough to cushion either the nasdaq or the dow, and today it
Good monday morning, welcome to squawk alley joining us this morning, Roger Mcnamee, elevations partner cofounder. A lot to get to with roger today. Speaking of which, the dow kicks off the week in the green, but while were in the midst of this record run, some are questioning if a top is near we want to pose that question to you, roger, because youve been kind of skeptical about this runup for a while now i wonder if you think youre hypersensitive to signs of a top. Well, you know, its funny, carl my sensitivity is based on just looking at the situation, you know, politically and how all of that relates to markets. To my mind whats going on right now is very simple, you know, we have a massive tax cut thats running its way through congress, and i think the market is making a really good judgment that in all probability some portion of that tax cut is going to go through and thats going to reward investors in a big way. Now, does that make the top . It could easily do so. This could be
Christmas. You can see we are set up for a lower open generally speaking on the major averages, s p showing a little more signs of life. European markets, most have been closed for the Christmas Holiday or boxing day as well. So not much to speak of there. Lets get to our own 10year note yield though as we take a look where we stand right now. 2. 483. Crude oil, wti up a few cents and just out the latest shill erin dex shows home prices up 6. 2 in october. That of course year over year from last year lets get to our road map this morning. It does start with apple largest market cap out there, shrinking in the premarket on some reports about next years iphone sales, were going to fill you in. Will this years rally continue as we close out 2017. Finally a retail rebound, how the struggling sector is faring so far this Holiday Season as you may know not too bad. Lets start with apple shares, they are under pressure in the premarket. Reports of sales of the new iphone 10 are slowing accord