Airbnb confidentially filed for , the nasdaq still outperforming. The gloves now have come off in the u. S. President ial election with the Democrat National convention targeting trumps policies and rhetoric. Kamala harris reinforced this last night. We can do better and deserve so much more. We must elect a president who will bring something different, something better, and do the important work. A president who will bring all of us together. Black, white, latino, asian, indigenous, to achieve the future we collectively want. Alix for more on how this battle for the presidency could impact the economy market and by. Reet, im joined to start on politics plus economy, jobless claims with higher delinquencies with housing on the rise, how do you pair that with what we might see in november . Regardless of who is in the white house and how Congress Ends up, there has got to be more fiscal spending. We do have what i would call a fiscal cliff, which is that so far the economy is more resil
Moments ago. Its negative, but not as bad as earlier this morning the dow remains positive, up 92 points its being held up by United Health care and walmart, which is getting a lot of analyst love ahead of next week tech continues to be under pressure, carl as for the data flow this morning, its really been about two reports investors are focusing on, ppi, comes in a little hot a little it wasnt extreme, but there were some weird factors it like lea pointed out. Then we got the Inflation Expectation from university of michigan and you got a surprise on the oneyear and five to tenyear outlook thats good news for the markets that are rooting for lower inflation. Some reports on ppi and the Financial Management prices. I think one headline is what the stock market gives, the stock market takes away. Kind of a weird meta dynamic. The whole reason was higher stock market lets dig into the weeks Economic Data. Against the back drop of hotter than expected ppi and cooler cpi. Our next guest s
Down, major averages higher. There is the rate picture today. 450 on the tenyear. Apple helping too. That stock having its best week since december of 2021. Results less bad than feared, and the announcement of a massive buyback the main catalyst there. It takes us to our talk of the tape. Is this the week that apple found its footing. Le i look at your notes today, you say, quote, it is hard to not be more bullish on apple here. Why so . Sure, so i think the risk ultimately coming into earnings was a fear of a guidedown. We got a guideup. So, we move past the june quarter guidedown and look at the developer conference upcoming, the iphone launch coming later in september, this is historically when an apple outperforms, yet we have seen the stock start the year as one of the biggest underperformance years in the last decade. There is a catchup trade, the risk is behind us, estimates seem derisked and there is a reason to be excited about the future. The revenue decline, the fifth time
Names like cocacola, pepsi, hit especially hard. We will focus on all of the green because thats really the story today. Nasdaq, another spot to take note of today. The outperformer as well this week. Even apple up nicely despite the midweek downgrade a strong week for alphabet and nvidia as well. Take a look at those three, having pretty good gains. Leads us to our talk of the tape. Whether the storm clouds for stocks are about to pass, as earnings season kicks off in earnest next week. Lets ask tom lee. Fund cofounder and head of research. Welcome back. Good to see you. Its been a while. Great to see you, scott. I will start calling you prescient tom. I hope you dont mind. Because this morning, at 10 23 in the morning, you said possibly this is the flush, bottom line, possibility equities reverse into the close, well, it looks like you called it, tom. What do you think about this reversal and what it means . Well, i think if we think about the data for the past week, the stagflation
Bobby kotick, is telling us how hes turning one of the most popular games into a Sports League of its own. First, the dow surging back after a spike in rates this morning. A loss is what happens when there are more sellers than buyers those losses were shortlived with the dow closing basically flat so with stocks near record highs again, we thought we would play a Little Mission impossible stock. Your mission, should you choose to accept it, find a cheap stock trading on the s p at its highest valuations in a decade we have our own tom cruise at the desk in the form of tim seymour. Maybe rob lowe. Jack wagner, maybe. We talked about if the airlines are cheap ill leave that to them, if theyre so inclined. Look at Prudential Financial that stock is trading ten times forward p e. They just raised guidance recently if youre looking for places that still offer value, and potentially a rising rate environment, a name like pru will get you done. Financials. With an insurance tail. Im going to