Revolution. Equities totally ignored a spike in fed fund rates. Bonds look vulnerable, meme stocks wont go away. Jim rikards is here. Im in las vegas with the money show. Will this be the tune has another huge event. Im talking about zuck versus musk. A cage match for the ages. Tweet me cvpayne. Who have you got in . I tell you who i have later. War against fossil fuels. They were talking about it on the big money show. May be a point of no return. That would be economic suicide. I cant wait to share my take on that. That and so much more on making money. Charles all right, so on friday the market was finally showing some signs of exhaustion, right . We saw what they called a outsized session. What that means for the day the market actually went to a higher high than the previous session but then turned around, came down hard and took out the low from the previous session. That is what gets you on outside day. A chart with two arrows. The second outside session weve had in as many week
Numbers and, of course, the payroll report tomorrow, which leads us to our talk of the tape we ask how results from apple and amazon right after the close of trading might drive the tape from here. Here to discuss all that is stephanie link, and malcolm etheridge, both are cnbc contributors both are here at post nine as well welcome. Hi. Steph, obviously, look, apple and amazon together more than 10 of the s p they matter for the index how the market reacts to the numbers. In general, in the context of an earnings season that has been strong relative to expectations, the mark kind of shrugged on some level, where do you think that leaves us as we figure out if this has just been a little bit of an air pocket in august i think it is a little bit of an air pocket, digesting the doubledigit gains we have seen across almost every indices. And i think august can be volatile maybe trade around, maybe to september, mike. But i think the economy underlying is pretty good. The Economic Data has
Highest level since july 10th. A new month for stocks take a look at how the dow historically does in august. On average the best performing month of the year, after 86 all that changes and august is now the worst month of the dow an underperformer for almost the last 30 years. That sets us up for the first trading day of august, stephanie. What do you think . Are we in for a decline in the markets based on historicals or Something Else that could keep the rally going . Weve come a long way in year to date in all the averages. It wouldnt surprise me. Im encouraged by the Economic Data were seeing and how that is translating into earnings being a little bit better than expected if you look at the Economic Data, we have the gdp numbers, 2. 4 versus 2 in the first quarter. An acceleration led by the consumer weve talk about the consumer endlessly all year supported by jobs, supported by wages, and even the j. O. L. T. S. Number today, i know people are encouraged because it came down, you
Tom, great to have you as always thanks for the time today. Great to see you, carl. I know youve been leery of the month of august in general did this mornings early tone do anything to change that . Yes and no. I think there are some constructive things that happened today that make myself and mark, head of technical strategy, think were actually in a bottoming, possibly for the month of august. The dollar reverse,ed sharply, and yields turned down, and as you know, both would be pretty big headwinds for stocks as we got into august, its been a rough four days so far, but i think the jobs number was pretty decent and then i am kind of optimistic that were going to get a good cpi report next week. So, thats kind of a road map to seeing stocks do better next week yeah. We have had a lot of chatter today about what cpi is going to bring us i think you could maybe argue the tone is relatively optimistic given what we think used cars and rent is going to do in the coming weeks yes, thats r
Make no mistake, no summer doldrums. Make no mistake tina crushing it. You heard we have powerhouse earnings this week as well as a jobs report. The question, are they tapped out . Have as aspirational shoppers run out of cash. Subway sandwich want their cut of Consumer Spending. You will not believe the outlandish offer theyre making to customers. While sandwich shops, small banks are bending over backwards, americans are saying thank you may have another with piddling offerings from big banks. My take on all of that and so much more on making money. E. Charles all right. Another day and stocks for the most part weve been higher today. You know again for the most part its been growth sectors, computers, communications services, technology, so the script really is the same but heres something interesting, folks, last week we saw something that we really hadnt seen. Really, outside of its remarkable performance between tech and communication, the styles. Large cap growth killed it, righ