Of digital competition thats slamming into so much of retail . Have we gotten a little more rational about this issue . On a day when the dow lost 33 points, breaking its tenday winning streak thats largely because president trumps statement about meeting north korean threats with fire and fury surprised investors arent in love with the idea of nuclear war. I think the market is starting to behave logically when it comes to many phases of retail, which had been in a bear market. Take the relationship between amazon and its brick and mortar competitors. Just a few weeks ago, the consensus was that amazon was poised to destroy everything retail i mean, everything every brick and mortar store and every supplier we stopped discerning among different parts of the retail food chain and assumed its game over for the whole sector and look, no one is denying that amazon is incredibly powerful, but many blind sided retail ceos have finally begun to come to terms with the new reality, and now the
Tenyear yield coming off the 26 level on thursday. We begin the dance to 20k. Will today be the day . Milan introducing a new epipen. The inside scoop on this weeks meeting between donald trump and tech. First up, the dow moving towards 20k. Something weve not done since february and march of this year. Faith rally. A lot of people are just looking at the tripod, looking at tregulation and repatriation and saying, we can can ignore current whatever is the current tempo and, instead, just extrapolate the things to get better next year. Of course, there will come a moment where they better get better or else well say, why did we get so excited . Theres a lot of ripples to the Corporate Tax. Saying, listen, this is not one size fits all. Retail could be hurt by it. Its more complicated. Its been so far. At the same time, i will admit that things are better. Theres a lot of people discovering that. There was some joisting to the Washington Post who finally manages to put on page one that i
Good tuesday morning. Welcome to squawk squawk alle. Happy holidays to both of you. Carl and john have the day off. To our top story, closing in on dow 20,000 yet again, market strategist. Tony, art cashin said that coming in on friday was a waste of car fare and clean shirt. How should we be thinking about volumes and momentum this week . First with respect to dow 20,000, items one of those numbers that of course the general public understands probably the most readily understood number that is spewed out from wall street is the unemployment rate. And that is of course widely recognized and widely understood. Right behind it probably is the dow jones trim average. So in terms of forging perceptions about the economy and the outlook for growth, Financial Markets how the dow fairs matters but of course its just a number. When you think about the day that that we got this morning on a surge of consume confidence and home prices rising, as well, what is the Economic Data telling you . Tha
Lets start with politics, a subject im usually loathe to talk about, but the election is only eight days away, so lets give it its due. On friday at midday, we learned that fbi director jim comey had decided to examine a whole new bunch of Hillary Clinton emails found as part of a separate investigation to disgrace former congressman anthony weiner. Immediately the entire market took a hit. It was instantaneous. But right after that, a great deal of the market rebounded. Buy, buy, buy. What was that about . Okay. First the market went down sell, sell, sell. On the news because investors dont like uncertainty. For weeks now the markets gotten accustomed to the idea of a Hillary Clinton presidency whether we like it or not. Thats irrelevant. Not a political statement. Just a reflection of what the polls say and how the stock market interprets that information. Why did the market rebound almost immediately . Investors, including the guys at halftime, i think ive got the answer. Anything t
Where julie hyman have the latest. U. S. Markets just keep going up and are very resilient, as we as we have frequent talked about. Trading higher, where we are right now that is the record so we are indeed closing in on that record level. A little further from their record closes but nonetheless moving higher today. Look at the s p 500. Since last may, that is the decline we are seeing. We will be seeing the s p can make up the gap. And reach a new record in the coming days. Once again, a commodity led rally, a broad rally. Tech are the Top Performing groups here. Oil inventories coming up in about 30 minutes. Last night, the epr reported there is a drawdown of about 3. 5 million barrels. We will see of the government numbers match that. The dollar decline in copper futures are coming back after yesterday passes losses. Economic data has been supporting. Percentage movers, companies that make this stuff, that produce the various commodities. Chesapeake energy up by almost 10 . And an