Sessions we have all the angles of this market selloff covered for you, though but first, joining us for the hour is aerials investments director of research, Charlie Bobrinskoy here at post 9. Thanks for being here. Thanks for having me. Pulloff pulloff, correction, selloff, pullback, was this over due . Well, no, things changed today. The momentum had been wonderful around trade and people say that people spend too much time worrying about trade. I actually dont think thats true free trade is very important and people say in 1776, the most important thing written was the declaration of independence. It wasnt, it was wealth of nations by adam smith the idea that trade helps us all is something that the markets believe in and when that gets called into question, you get an appropriate big reaction do you think that it is, especially based on the comments we got from President Trump today, do you think that the market is, especially with this pullback that we have seen today, do you thi
The dow and nasdaq not far amazing suits and float around behind. S of tiffany surging the cabin. It will be a great market after all. I see you are talking about space suit this morning interest in acquiring the that was designed by under company for 120 a share. Armour the next investing frontier, one of the questions that gets Virgin Galactic set to make the put to me a lot is how do you public debut here at New York Stock Exchange this morning. Sir Richard Branson will join us know it is going to be safe . First on cnbc. When it comes to space i mean so, markets are chasing some history this morning the s p is on track to open at space is hard, it got to go off an all time intraday high. On friday, closed within six without the hitch. Points of that record level no room for error here after being fractions away from setting a new milestone. How do you ensure thats the case and what do you tell jim, a lot of the bears arguing what has gotten here from july has been healthcare and ut
1 it is not the fed. Its not the trade talks, its demand demand for money demand for homes, demand for processing, demand for cancer drugs and programming and demand for cell phones and demand for planes and of course perhaps most important, demand for stocks yet if you listen to most of the experts you here a lot of fury about ow the Global Economy has gotten weaker because the trade war has shut down international trade. I dont want to sugar coat anything the Global Economy has absolutely taken a hit yearoveryear and the tariffs are part of that but here is the thing. Many stocks were trading like were about to get an even more stringent round of tariffs and that didnt happen instead the president started negotiating with china and that allowed a host of flailing stocks to get their mojo back. The tariff made it strong that without the averages demand would have never made it this far. Let me walk you through the places where that demand is m t most palpable first there is demand for
The cac is up and the footstsef. The yields something weve been watching closely ticking up a little more like it was yesterday and that was a big difference in yesterdays market rally compared to the risk on tone to the sector performance. Thanks for that if youre looking for a negative, we did come off the highs. A couple of offsets, but it was a more constructive. Were getting back. Ill tell you. I can tell you week ago whats a week ago when i was sitting in for melissa, everyone was bearish. Really . Monday was a big week. It was the s p 500 and nasdaq both down. But that had been after six straight five or six straight weeks, so everyone was bearish the guy from Morgan Stanley, very bearer . Oh, i remember. Swell see. Bo jo, ten more people backing him. He had powder all over his nose. Thats derailed his campaign. Really . Theyre down to ten candidates. Ten. Boris johnson will make the final two. Less than the democrats you know, watching what happens in italy and all these other
Moment and the nasdaq is up another 76 our road map this morning starts with the stocks surge all time highs. It is longest winning streak big techs, big problem why the new head of instagram think breaking up facebook would make it a less safe space. Share of beyond meat taking a dive after a downgrade the top is in only after 600 rally. Someone else i know has been talking a lot about beyond meat which well get to a minute. This is a beyond incredible rally. The dow is up 1300 points in like six days. Scott, great to see you first of all people came in your show describes it all the time. People came in short this month. Why . Because may is so bad. Why would they . The president goes off the real with mexican tariffs. Things are just too out of control. They just have this whole washington, it is just nasty today how does things reverse itself the risks are in we get a piece out i dont know if you saw a 50 increase break up google. 50 increase if it breaks up what can i say apple is