State at cnbc and the desk will play judge judy and we will rule on who is right and not. And then cashing in on Regional Banks, the best week in almost three years. But the kre is still underperforming the market broadly. The traders check the sector balance. In case you didnt notice its indeed friday the 13th. Oh, no. Yes,s it. Scary. Are you feeling lucky unlucky. Clint eastwood. Always feeling lucky. Roll that 44 magnum right now the only thing unluckier than broken miles an hour mirrors and walking under ledders is the big familiar name chipotle, alta all trailing are they bargains . Lets talk about the market this woke three weeks in a row, steve of nice gains for the broad market. Eight days in a row for the dow. You know, i always say this i guesses in a station we say its the most unloved rally that i remember in recent history everyone got so lop sided in august the positioning was so ultranesting that this had happen to happen but when. Now over 3,000 everyone still getting
We lower on the douby just 6 points some individual stock moves on the final trading day of august to hit check out ulta beauty on track for the worst day ever down around 30 after missing on earnings, revenue, estimates for the fullyear guidance also coming in light blooming brands seeing a spike around 2 00 p. M. After Jana Partners to take a 9 stake in the company saying in a filing it believes shares are undervalued and intends to have discussions with the company about a possible sale. Nearly 8 pop there. Shares of lions gate falling on a report of comcast dropping starz. Comcast is parent of cnbc. Joining us for the entire hour, final hour of the final month of trading for final day of the month of august is mark tepper to these individual stock moves like an ulta, wilfred mentioned target up 25 , ulta down almost 30 . Why are these such severe reactions to earnings, these reratings of the stocks individual story or the Market Investors are concerned overall about just carrying r
Until the close, cnbc contributor stephanie link from tiaa a nuveen company. Welcome, stephanie thanks. Energy doesnt usually lead this market but is today on the oil bounce and questions about whether thats sustainable and given sort of the scale and increase in tensions whether the move is big enough to bring back the sector and commodity trade i dont know. I really dont because its been a tough industry for the whole year. For a whul of years now. So this is really more a supply issue concern. I think the Biggest Issue for oil are demand and the demand environment has been slowing and the revisions have been lower. So with that as a backdrop this might be just temporary. You would have thought oil would have been rallying much more than it did. I spoke as well about 20 minutes ago to one of the senior traders at one of the major investment banks and said was pleased to see the algos didnt disrupt the market when pompeo came out and clearly blamed iran on that. That could have been a
Yesterday. 4. 23 . If you check out the price of copper, copper ended at the highest settlement since october of last year. This morning, it is off 1 . Watching that copper closely because it is a signal of expectations for global manufacturing. Japan central bank raising rates for the First Time Since 2007 and ending the other easing measures. This is the longest easing from any central bank. They were the lfirst to go in ad the last to come out of the easing. It raised the rate to 0. 1 . That was up from negative to 0. 1 . The yen trading at the lowest level of the year compared to the dollar. The central bank abolishing the yield curve control policy for japanese sovereign bonds. The central bank said it planned to purchase government bonds worth broadly the same amount as before. It will scale back asset purchases and qt. It is not really aggressive if you are talking about zero to 0. 1 . Backing away from the eightyear experiment. Experiments are not eight years. The new normal. I
Fraternalility of the president not only what foreign enemies think divisiveness in the United States we need a strong leader to unite us how is that traditionalist someone weak ailing in leadership position. I think that is right were watching adversaries are watching as well not just age there are questions about Mental Health capacity how do you see it. The majority americans do have concerns about bidens age they dont seem to see trump the same way even though comparable in age. Maria younger trump is younger you go. Yes, he is. But really the issue democrats have stuck with this guy, he i mean who else do pef. Democratic party people he beat in 2020, Kamala Harris extremely unpopular probably cant win National Election gavin newsom led longest covid shutdowns kept schools closed a disaster if not biden the more age issues come out one more thing probably most watching dont understand infrastructure, packaging surrounding president s they have a lot of resources going into preventi