Roadmap begins with President Trump morking north koreas nukes and mega chinese deal block, and shares of intel are down reports the i. T. Industry is bracing for news of a major security flaw affecting intel chips. It did not take long for stocks to make history in 18, that is d nasdaq closed above 7,000 for first time best day since october 27th. Whats going on with tech . I think that the profit taking ended i believe that there was a huge amount of money that left tech and went over to industrials and a large part because the gains were so great, also because there was a feeling that you could select your lot because of the new tax code, it made sense and turn out it didnt matter. Whats really happening here, carl, it is just an unprecedented amount of research as possible. I sent i sent a list today, theres 35 upgrades and what happened is that nobody seemed to realize that nothing is built in every one of these notes is about how tax reform, tax reform or unbelievable Holiday Sea
Course, after a nice move yesterday, up moving along this market if you are happy about it european market, you asked and we answered. Spain and italy which we like to look at it as well one of the foreign markets the only good over night was the opening. I am not kidding. The olympics were good. 10yr note yield is the focus, 2. 84. More than we were yesterday. Tomorrow is the key question. Look at oil though you know stories today, well be the largest producer, bigger than saudi and russia. It is true. 10 Million Barrels a day and there is no place to put the stuff. There is not i know. The government relyinquishreg it is hard to have a lot of inflation and oil is considered one off. Thats ridiculous. It is important of the whole foods chain of every aspect. What people have been saying is expensive. I appreciate that now, i need to get to our road map. Wild ride market if you take what the futures are telling us in the early going here under armour sales the shares are doing somethin
399 points nasdaq pulled 1. 15 . Nice to feel appreciated it is going to be back in cram america. Things have gotten a little bit crazy. Thats what we need is to get right back in sync immediately not with this mornings news yes, we had a terrific session today no doubt about that starting out with Warren Buffetts calming words about owning stocks. Apple being exhibit a. We know he likes the market enough to be looking for big buys hes got the cash. He has more than 100 billion sitting idle maybe my game plan can help him. I will even waive my commission. Lets get started. Tomorrow morning, well here from two retailers with wild expectations macysand auto zone. No one believes the new ceo can change macys fate reinventing macys as a cooler, hipper department store. Meanwhile, if macys has any spare real estate and i think they do it is going to be monetized. Auto zone is the reversed. Lots of people have gotten behind this one which is always a bit worry some for me. Even though i like
Facebook guy, worth 42 billion, 9th richest in the world. A victory for technology and the sharing economy, new york backs away from restrictions on uber. And hes back Anthony Weiner hes got a job, consults on pr nightmares. Hes qualified. Varney company is about to begin. Here is something you dont see that often, right of Center People im going to call them conservative on this issue, taking to the streets by the thousands in times square to protest the iran nuke deal. Ashley webster is here. I dont think he was there last night. I was not, but we normally talk about the silent majority not the case this time. 8 to 12,000 people flooding into times square. I cant imagine the nightmare. It was organized by a group called stop iran now. And they loudly booed any mention of president obama or Hillary Clinton, basically they were saying look this is a bad deal for israel terrible for the country, and we cannot let this go through. As you mentioned already, this thing has been passed by t
Thanks, simon. We begin this hour with trading troubles in the market. The three big areas were focusing on macro, fundamental and technical, and dominic chu will lay out the bull and bear case for each. Dom . Theres strong and theres a lot of them on both sides of the equation. Sure. Lets talk about the macro Bigger Picture scale first. First of all, you have at least whats perceived to be some economic strength or resiliency. Maybe not robust growth. Still, in the eurozone and the u. S. , yes, i know the eurozone is stepied at best and may be slipping back to recession but its holding in there and the u. S. Holding it better than most economies out there. Thats kind of the bullish case if you want to see it that way. Take a look at china though. Slowing growth there. Growing faster than any of us out here, but, still, that slowing growth may be a huge case for the downside of chinas economic woes really deepen as the market it your miles condition. Lets take a look at whats happening