1st. Is that what the date was . The fear gauge hitting the lowest level in more than two decades. The volatility index closing yesterday at 9. 77, the lowest level since december of 1993. I cant imagine thats not a place where you would buy. Though normal stocks that hit new lows what do they do . Hit more new lows. Stocks that hit new highs, hit more new highs. It can only go 9 more lower. Yeah. This only happened five times ever. Having always thought in a contrarian way that complacency and when people get participants get bullish, you worry. Call ratios, you worry. Percentage of investment services. If its that complacent i admit, okay, its not going to be le pen, but the world at this point, theres nothing that were not thinking about that could happen that could throw us for a little bit . It scares me. The flip side is if premiums are so low, you can buy insurance and remain long or replace your stock with calls. There are different ways to use this to your advantage to remain
Good tuesday morning. Welcome to squawk alley, joining me is jon fortt and sara eisen. Also joining me walter eisen and a lot to get to with walt this morning. Among it, apple, as berkshires Warren Buffett nearly triples his stake in the company to more than 19 billion. Stock hit yet another alltime high this morning. Walter, lets take a quick listen to what buffet said amid all of his mea culpas of miss in amazon and missing alphabet why he is increasing his stake in apple. The shares when we bought them were much more reasonable in relation to current earnings. Apple didnt have to do a lot better in the future than they were doing at the current time. When you get into a google or amazon, you are paying for the future more. The future may be more than justified. So, walter, here we have a very smart man who laments missing a big chapter in tech, doubling down on this one. What does that tell us . Well, it tells us that apple is a very secure, stable, good company because Warren Buffe
Is doing today. The good news its not down much. The bad news is its not up much either. A narrow range for stocks. Still, as melissa noted, amazon as well as apple keeps surging ahead. They are both trading at record levels. Believe it or not consumer stocks are your best sector today. If you own marriott, under armor mour or wynn resorts. Tyler . Brian, thankful. Welcome. Im Tyler Mathisen. Volatility not so much. All but dried up this year. Lets get straight to bob pisani at the new york stock exchange. The fear gauge hasnt been this low in a quarter century, bob. Reporter lets take a look at it, tyler. Why is it this low . Its not that surprising. Theres a couple of things happening with the vix. Tamm p tampening down volatility. We have advances that are making markets, more hedging methodologies, more ways to buy protection out there that is tamping down the volatility. Keeping rates low and essentially encouraging people to buy equities. And we have the fact that risk is lower,
Films helping in chains, but could summer hit ticket sales . Well, i just believe it or not, i went to a movie sunday night. I saw guardians of the galaxy. Did you like it . Loved it. Did you like the first one . You know what . I dont remember it. I dont remember it. This one i remember. I saw furious 8, the fate. We have so much to talk about with bob iger, a live interview with the ceo, first on cnbc before speaking to analysts. Now you can take the graphic down. So much speculation about his president ial ambitions too, these days, much to discuss with him. Beginning, though, with Goldman Sachs, ceo Lloyd Blankfeins statements made in the last hour, and we sat down with mr. Blankfein to talk about the financial sector. This is what they talked about. Do you think the u. S. Banking sector is over at the moment . I do. I do. Look, we had a very the system had a very, very big trauma, and we legislated very quickly. There was a lot of demand for it. The issue was, you know, what shoul
Bloomberg daybreak europe. Im anna edwards. Manus weve got a feast of breaking news for you. Lets kick it off with ing. Ahead of what the market had penciled in at 1. 40 8 billion euros. S is a bank that gets gives Technology Revolution whole new meaning. Withre going into markets 14bricks and mortar and point 15 for them. Billion. Ofit of 1. 65 the net of 1. 143. Fors a little bit ahead the net results for the First Quarter of 2017. Facing significant penalties over the lack of data in regard to payments. Will have a conversation at 6 20 a. M. This morning. Anna we will welcome him to his new role. The french insurance giant, weve had numbers from them but an update on strategy, they say they intend to ipo the companies u. S. Operations, which is an interesting headline just passing over the bloomberg right now. They are talking about firstquarter revenue of 31. 6 billion. Just a touch below where it was this time last your but not by a great deal. Property and casualty revenue a litt