Of billions of dollars from Health Care Stocks to techs and industrials and then bolted from the market altogether when news came out that the fbi is probing some newly found Hillary Clinton emails. Then after further review, the money flowed right back, but only dau closing down just eight points. Nasdaq dipping 0. 50 . What the heck is going on here . I dont know what will happen with fbi director james comeys reviewing of new emails related to Hillary Clintons personal server. But i do know this. I do know that this market seems to want some certainty or it wouldnt have plunged so hard midday when the news came out. Beyond that im leaving the politics to the pundits. Heres what i do know. The overall performance of the average today obscured one of the most vicious rotations i have ever seen in my career. Health care stocks, which had been under pressure throughout the Campaign Season bled from the eyeballs today thanks to a couple of monster shortfalls in the Health Care Cost conta
And thats whats driving the stocks of so many Big Industrial Companies Higher even as others sell off in a bizarre confluence of good and bad news thats mirrored in todays action with the dow struggling to stay positive, up just two points. S p dipping 0. 26 and the nasdaq getting crushed, down 1. 05 . In the last 24 hours, president elect trump has announced a bunch of probusiness cabinet picks while to spare jobs that would otherwise be lost to mexico. The result is that the markets anointing a whole new group of stocks, rotating into them while slaughtering others. So i want to explain why thats happening and how you can profit from it. So lets trace the narrative. First the picks trump announced today, Steve Mnuchin as treasury secretary, wilbur ross as commerce secretary, sent a huge message. People who are probusiness and thats who this administration is going to be listening to. Progrowth, projobs. Now, close viewers of this network know that wilbur ross is a pragmatic, crafty b
Share, all crash. The deal is expected to close this calendar year. Jim, you just talked to andrew, becky and joe about this. Yeah. You know when you go back over the arc of linkedin, obviously going into the february quarter there was a belief that things were continuing to accelerate. You had 30 growth. You really felt like there was very, very little economic sensitivity. Then you got that incredible shortfall, going from 192 basically down to 9,800, and it was entirely because of the lighter guidance. The guidance, they use the term seasonality. Well, were not used to hearing seasonality with linkedin, 30 going down to 20 . There really wasnt any line item that was good. You saw deceleration in core hiring, you saw challenges in marketing solutions, you saw macro fx headwinds. We dont want to hear that. The last quarter reported at the end of april was quite good. And every one of those items went back up, and thats why the stock was able to recover. But they are getting microsoft
In the equity markets on this side of the ocean, you can see the european markets as well have steadied to say the least but thats about it. After again a nice twoday rally there, although that ftse, a lot of people saying thats not the one to look at. Yeah, its back to where it was before brexit but thats because most of it is international exposure, not necessarily exposure to domestic uk. Lets get to our road map this morning. It does start with a big day on wall street. Its the end of the first half of the year. Weve got a look at the winners and losers and whos poised for perhaps a pop in the second half of the year. Lions gate buys starz, 4. 4 billion in cash and stock. I will give you the detailtss on how the deal came down and what it means for the companies and industry overall. The results are in, we will have a look at the Bank Stress Tests and what it tells us about the strength of the sector. We are heading into the final trading day of the Second Quarter and the first hal
Noi noirs. First, the only store that matters to wall street and main street right now. That is shares of apple. Surging for the Third Straight day, since a rally began, it has added a staggering 46 billion in market cap for those of you keeping score at home. Thats more than a netflix, about the same size as the gm. The question is simple tonight. After being dead money for a long time, is apple now a mustown stock once again . Pete, what do you say . I dont know that there is anything thats a mustown stock. But i think when you look at apple and you understand whats going on right now and the process and absolutely look at the competition with samsung, and the latest issues theyre facing while this new launch is about to go happen for apple, and you look at this 8. 10 fusion chip that speeds everything up or gives extended battery, all the wonderful things going into this and everybody said there is not enough going on with the phone. I believe whats inside the phone is making it tha