End of the obamacare website still not fixed. By the way, moodys downgraded the Insurance Companies today because of this. This mistake could cost taxpayers a fortune. Speaking of taking a hit, check out all the red arrows on wall street today. We had a big selloff and i think the fed fears may be backing the market. Finally a very special guest this evening. Blues traveller front man john popper is going to join us live to talk about shockingly low payments song writers get now for all their work. All these stories and more coming up in the kudlow report right now. Lets start with the big selloff tr if the stocks. Dow down 176 points. What caused the big drop . Lets go to Cnbcs Bob Pisani on the floor of the new york stock exchange. Good evening, robert. It was not a good day for the markets. It started overnight when chinese manufacturing numbers came in below expectations. The chinese data was weaker than expected for a few weeks. Why cause china matter so much . Emerging marks are
Tim leach is with me. He says this was a much needed pause. He joins us along with bob from cabbot Money Management along with rick santelli. Tim, you believe theres an upside . I do. This has been the clearing correction weve been looking for in the marketplace. Granted, were going to be in kind of dead water here until after the election after the election, were going to get clarity regardless of which way the election goes. Were looking for a positive bias to the end of the year. What sectors lead us in that positive bias . Where do you want to be exposed . Were still believers in technology. We know its been soft here lately. Theres going to be a tremendous amount of demand. As we know, revenues are really hard to grow in this kind of marketplace. So companies are going to have to continue to squeeze efficiency out of their operations. That means technology. Were also believers in finance and financial companies. Okay. Rob, where are you on this question . How are you allocating ca
Squawk on the street begins right now. Good wednesday morning. Welcome to squawk on the street. The shows going well already. Im carl, with melissa lee, jim cramer and david faber. We have earnings season officially under way. Courtesy of alcoa, some pretty decent sentiment this morning. Well talk about that with cramer in a moment. Europe, numbers over there as well. Germany Industrial Production did miss. Green arrows across the board from london to paris to frankfurt. Our road map kicks off with earnings season. Europe is better than expected, but does this set the tone for the season with goldman predicting the s p will be in a Holding Pattern for the first quarter. Apple at the low end. The journal reporting a cheaper iphone may be in the works. Is apple simply going to where the growth is, and a sign that margins may face more pressure . Yet another setback for boeing and the 787. Canceling a domestic flight after a computer erroneously signaled a brake problem. Clearwire gets a
He doth protest too much. In every joke there is a whisper of truth. Kidding is that the expression . In spanish [ spanish ] i dont know whether andrew is delayed because of traffic or cant decide the proper look for a snow day. Could be a sweater sweater . A zipper sweater. A zweater . Yeah. You dont get up early enough do you live in the georgia . Yes. Youre here. Yes. Okay. I live 35 miles away. And you made it. And i have a sports car. And andrew lives in the city, he didnt make it. Dont live where theres a bridge or tunnel between you and where you work is good advice. That would mean i have to live in new jersey and i dont want to live in new jersey. You made it here. Too good for new jersey . Too good for new jersey, are you . Im single. I want to live in new york city. You married, you live in new jersey. How is it working . Great, actually. Youre still single. Notable other other notable market activity. The dow transports closed at an historic high. The index soared 15 during
Vowing Financial Relief to workers and businesses. He also announced though restrictions on european travel. We have seen dramaticallily fewer cases of the virus in the United States that are now present in europe after consulting with top Government Health professionals i have decided to take several strong but necessary actions to protect the health and well being of all americans. To keep new cases from entering our shores, we will be suspending all travel from europe to the United States for the next 30 days. Sandra team fox coverage for you this morning Kristin Fisher standing by at the white house. We begin with Jonathan Serrie who is live in atlanta for us this morning. Good morning. President trumps new travel restrictions caught them by surprise. Take a listen. The European Union disapproves of the fact of the u. S. Decision to impose a travel ban was taken unilaterally and without consultation. Chancellor Angela Merkel predicts 60 to 70 of her countrys population will become