Road map begins with this trade stumble for stocks some lingering china trade concerns plus, ecommerce boom alibabas 24 hour shopping extravaganza breaks its single days record of more than 30 billion in sales and still climbing. And goldman facing an investigation over allegations of sexist credit decisions at app apple card stocks are set to open lower this morning on some dampened expectations surrounding u. S. China trade talks as well now as this escalating violence in hong kong meantime, the s p is in the midst of a five week win streak for the First Time Since march 6 if you look at the nasdaq. It has been a nice ride over the past month. It is so amazing because the some of the bigger runs are companies you would expect no trade deal, we would unravel a lot of the companies that do a lot of business in china it continues to happen one thing i would say is that people seem to care more about the fact that Interest Rates are going up than they care about what is going on in china
Street about the stock. Well debate. The Investment Committee is ready to go. Halftime report starts right now. Our Investment Committee at the table today, the Portfolio Manager at eaten vance. We begin where else . The market. Stocks have been ramping in the past 30 minutes, got above the closing high on the s p on a big day for the semis thanks to intel. All but hitting a new record, as well. Names like jp morgan, so many more hitting 52week highs today. We are about a point away from a new high. Is this the beginning of that longawaited ramp that weve been waiting so long for what drove the market was off to a decent start anyway and then the china news. Then the market went to hyperdrive. So if thats the case, if we have a meaningful agreement with china, we really dont know the details, that could, in fact, increase the trading range. So go through it. I thought there was a bias of the upside slightly. Some numbers are good, some are bad. Its very encouraging when you get a print
Heavyweights cat cuts earnings outlook. Boeing sticking to the timeline for the return of the 737 max. Softbanks massive wework bailout. The latest deal details and the golden parachute for adam neumann. Mark zuckerberg goes to washington were going tostart with that pair of dow components, boeing erasing earlier losses despite a big earnings miss. Revenues slightly above consensus. Company still sees the 737 max getting back to service in q4. And then there is caterpillar, missing with quarterly results, cutting full year guide, hurt by weaker demand in china the first decline in quarterly profit since 2016. As they had sales down in every region which you just talked about. My travel trust owns it does that mean im an idiot . No it means you have to take pause and say they continue to buy back stock, they said would no longer be episodic cash flow remains really good. I didnt think i could make this much money with this decline in revenues all that said, so what 400 other companies i
Progress and roll it back. For late february, trump did not meet with chinese officials and there were press conferences afterwards, and they agreed to have the chinese by a little bit more soybeans. Two days later, trump declared a truce. That never really led to anything. We have been wrong optimistically the entire time. They have had a couple of years to try to come to compromise. We are right where we started 18 months ago or so. Applause is good, but until i see a rollback of some of the tariffs that went on recently, i have to go with our leading indicators, which are still pointed downwards. Jonathan doing the around the joining me around the table in new york are our guests. The first question to you, george. Same issues, same people, same countries. Do we get a different outcome . George in terms of trade, i dont think so. In a perpetual state of negotiations and we expect that to continue. We are not expecting a major breakthrough anytime soon. In the financial markets, thin
Late february, trump did not meet with chinese officials and there were press conferences afterwards, and they agreed to was have the chinese by a little bit more soybeans. Two days later, trump declared a truce. In the final analysis we know that never really led to anything. We have been wrong optimistically the entire time. They have had a couple of years to try to come to compromise. What we are talking about is right where we started 18 months ago or so. Detente, butod, a until i see a rollback of some of the tariffs that went on recently, i have to go with our leading indicators, which are still pointed downwards. Jonathan joining me around the table in new york george bory, mike purves, and andy charlton. , the first question to you, george. Same issues, same people, same countries. Do we get a different outcome . George in terms of trade, i dont think so. Trade is in a perpetual state of negotiations and we expect that to continue. We are not expecting a major breakthrough anyt