Midwest. Will be b here to give us a consumer check as power lunch begins right now welcome to power lunch. Im contessa brewer. Check out where we stand after hitting record highs the dow mostly in the red thanks to boeings move lower the s p barely hanging on to the green. The nasdaq again, still in the green, but barely hanging on to the gains. Take a look at these tech heavy weights which have been b leading the rally. Facebook up half a percent dpo google up a half a percent the dow crossing 29,000 for the first time today though it is off that level right now. A handful of stocks responsible for this latest leg of the rally and bob pisani is taking a look at those names hard to believe it was only a couple of years ago we were at 20,000 so i want to show you whats responsible for moving the dow from 20 to 29,000. Concentrated, but not as much as you might think. Apple not surprisingly 15 of the gains is through the apple. Boeing, 13 . United health care, visa and microsoft. B abou
Road map begins with records, records and more records the dow within striking distance of 29k for the first time. Plus hiring did cool in december but unemployment is at a 50year low and job gains extended for a record ten straight years, so whats it going to mean for the growth in 2020 plus these damning documents newly revealed boeing messages reveal efforts to manipulate 737 max regulators todays december payrolls number means 2. 1 million jobs were added last year, a slowdown from about 2. 7 million in 2018, coming in at 2. 9 year on year threemonth average, jim, 184 now and we got some milder visions down to october and november one of the things thats missing that makes this difficult for me is boeing boeing is such a big part of the gdp and i dont know which part, manufacturing little changed in december, how much that is boeing because everything has to be asterisked i think thats how big boeing is for the economy. It doesnt reflect this. I mean, youve got the wrong areas gett
Which is red again too. A few moments ago it was green. This is the big story. Questions about whether its topped, an unwind is coming. We havent seen you in a few weeks. Youve been trimming this name like many others. Yes. We owned this name for a long time. When a stock doubles a relatively big position in three months its prudent to trim. We trimmed. Its okay we still own the stock. It has the perfect set up right now. Buyers with a lot of cash flow, concentrated positions. Too little capacity, too much demand. We think it theres nothing to stop it in the near term. But from a longterm perspective its prudent to take profits we think. Price target to 1200 from 900. As the stock has elevated the chase has continued on the street. You keep getting price targets going up up and away. Im wondering how you view the stock, if you view that as a moment that was 100 higher on friday, and then the reversal, whether we need to Pay Attention to this stock more than any other in the market. Unf
Indecisive positioning. According to bank of america fund manager survey as they wait on cpi tomorrow. Mike santoli is here with more. What are you watching in positioning . We worked off this excessive bearishness by longonly Fund Managers and a lot of other indicators. No longer we also dont have people positioned for the market to run away from us on the upside. We can call it indecisive, call it neutral, call it confused, datadependent. All those fit. Weve been fighting the same battles with oil prices nudging above the comfort zone, perhaps, and then yields, how are they going to absorb this inflation number tomorrow . So, i think the big picture story of this year remains in place, which is disinflation, you know, youve had the fed mostly done if not fully done. Earnings are tilting up slowly from a trough. All that is and then the argument what is priced in . Have we priced in benign soft landing scenario or do we have more to benefit. It will be fun to watch the doves who were
Unveil, of course, the iphone 15 hoping to give the company somewhat lagging sales a boost. And the ufc, wwe, tko holdings will begin trading and well speak with the groups ceo, ariel maemanuel. It does post a revenue miss and issued Sales Guidance slightly below consensus. They have twice the amount booked at the end of the previous quarter. Jim, set to be the biggest gap down on earnings in a couple of year. Yeah, look, i would be a buyer especially if it was 113. I have a small position. The real issue is not what people are talking about. Its the acquisition they made, 28 billion. They dont like it because they already guided down for it. The mentions were how we would have done better if it werent for serner. Revenue recognition to go another way that will be a lot less, lets say its going to a subscription much harder to understand. Thats what people were thrown off by last night. It is not about the slowing cloud even though people said it was. David, sometimes you get situation