Stocks on the rebound as you can see, still tracking for five straight weeks of gains on optimism over tax reform that optimism sending the man to my right, tony dwyer, to raise his target for stocks in the new year to 3,100. Now youre the top dog now was that the plan . No. Thats marketing bs. No, thats marketing bs. Its more the methodology of how i get there. For the last six months ive said my 2,800 target for the s p is too low because you had to implement the tax cuts but without a Corporate Tax rate, i have no idea what that is. So 21 , that adds 9 to the s p earnings im at 140 for this year, was at 140 so now im up to 155 the market is trading at a 20 multiple why should that change so im assuming a 20 multiple. Im too low for both, the multiple and the earnings. The 3,000 club is growing, seemingly by the day you get Credit Suisse bumping their target up. You had a couple of places yesterday doing the same thing and 3,000 is right around the highest number now that tony is a l
Welcome to squawk alley. Carl and jon both have this morning off. Joining us is rekicricos he ha itting manager and author of the fore nice to have everybody here. And lets do our top story this morning. It is shares of apple and a number of its suppliers are under pressure on reports of slowing demand josh lipton, what is the problem if there really is one reporter apple investors have been counting on a waiver of iphone fans all around the world upgrading to the new iphone x, but this morning new questions about the real popularity of that device. So there are reports citing taiwans Economic Daily that apple in the First Quarter is going to cut its Sales Forecast for the 10 to just 30 Million Units. Ch and that is down from the initial plan of 50 Million Units. Apple doesnt remember Quarterly Sales targets for the x which officially went on sale back in early november apple suppliers down this morning on the report. Finisar just awarded 390 million to analysts have baeen not so bulli
When i was laying out on that ballfield, the first thing i did was start to pray, and ill tell you it gave me and unbelievable sense of calm knowing that at that point it was in gods hands, but i prayed for very specific things, and ill tell you, pretty much every one of those prayers were answered, and it was pretty challenging prayers i was putting in gods hands, but he really did deliver for me and my family, and it gives you that renewed faith that the power of prayer is something you just cant underestimate. [ applse ] so im definitely a living example that miracles really do happen the first place i want to go to thank true angels along the way starts with the United States Capitol Police [ applause ] when i was elected majority whip, as you know, the elected leadership has a security detail, and if anybody ever wondered why were assigned security detail, i surely found out that day and let me tell you, i want to specifically mention crystal griner and david bailey. [ applause ]
Pete, its the least volatile september ever you guys are going to dive into that in a bit over at the telestrator to show us exactly how. But man, the stocks have been steady. Yeah. And i think part of the story, scott, is just the fact that you mentioned steady we talked about rotation those all feed into this i heard bob pisani talking about lack of volumes. But its not a lack of volumes in the derivatives world or options world where we are consistently trading close to just under 17 million contracts a day. This used to be a number in 2011 that was closer to 14 million a day. It started to grow we peaked out at 18 million and here we are trading just under 17 million a day so there is volume and there is volume in the derivatives markets and other parts of the market unfortunatelwere not seeing h of it at the new york buthink the healthiness of this rally oat least this sustained area of near these highs, establishing new highs almost daily has been because it has been a healthy ro
Good thursday morning. Welcome to squawk alley. Im Carl Quintanilla with jon fortt, sarah eisen at post nine of the New York Stock Exchange joining us this morning Business Insider ceo henry joining us. We are awaiting President Trump expected to make comments on his new apprenticeship and workforce of tomorrow initiative that is rescheduled from yesterday. Also set to sign an executive order. Eamon javers with us from the white house. Do we know, eamon, whats inside this executive order what the president is set to say . Reporter yeah, we do, sarah. We dont know what the president is going to say here but this will be the first time to see him on camera today since he issued those tweets this morning about the reporting from the Washington Post that says he is under investigation for potential obstruction of justice by the special Counsel Robert Mueller. So well wait to see whether or not he addresses that. He was sarcastic and angry in his tone in the tweets this morning. Well see if