The dow and s p closing at new highs for 2016 and what stood out was an outperformance in tech and financials. Salesforce, action vision, metlife, bancorp, they lead us higher. What say you . I will say this. Earnings expectations have been beaten down so much in tech and i say to you if theres any shed of light whatsoever those that have, you know, that are beating have been rewarded by it as far as guidance is concerned. Look to guidance. If guidance is better. Companies are getting rewarded for that and youll see that in the performance of names and i look at the semis and they have been beaten down so much. Mike ron is a name trading up after hours, a stock thats washed out and i say its probably taking a look at on the buy side. Bar is low for financials. Terrible on financials, and i think at this point its worth at least taking notes so ive said a handful of times even in the last few weeks im not a buyer for financials because i think they are cheap and not because they are goi
We cant ignore international competition. The question for the committee is, if the United States isnt going to adopt some form of intellectual property bonds or patent box, what are we going to do . Are we going to just ignore what is going on in the rest of the world . It hardly seems like a good idea. But the downside and people have noticed this of the patent box or intellectual property boxes that unless theyre carefully crafted, you can have a serious problem of encouraging too much property being included in the patent box, and you get a lot of revenue erosion that way, and its pretty undesirable. The issue really is what are we trying to achieve with the intellectual property box and patent something to the answer should be we want to encourage activities we would otherwise lose, and if we find ourselves in that situation, then we should try to figure out a way to craft one of these things. The rest of the world is doing and it we ignore them at our peril. I think i have a diff
People working to get themselves out of poverty. Sam from the financial times. Thanks very much. You were talking earlier about the u. S. As a bright spot, among advanced economies. The story of the president ial campaign has not been that American Voters feel this has been a bright spot recovery. Is there a risk the administration is feeling out of touch with public mood about the u. S. Economy at the moment or are we overestimating just how negative people feel about the economy . First of all, i dont know, you know i look at evidence from the measures that economists look at about how people feel about the economy are the Consumer Sentiment index and the Consumer Confidence index from the Conference Board and the university of michigan. When you look at measures like that, you see that confidence has been consistently rising since the recession. And last year reached levels we hadnt seen in over a decade. So i see a number of ways in which people are positive both about their situat
Were presuming that everything is too high until proven innocent. At one point today precisely at 11 43 a. M. We saw sheer, raw, panic. The kind you get when investors just capitulate because they cant take the pain. The the house of pain any longer. It seemed like a crescendo selloff, thats what i like to call them as the averages rebounded in the afternoon and the dow slipping four points and the s p advancing. 1 and if we get the wrong employment number tomorrow, too strong or too weak, i think well see another 11 43 a. M. Like panic. What can you do . You know what i say . I say nobody ever made a dime panicking, but plenty of people have made a dime taking the other side of a panicked trade, a panic occurs when those with weak hands violently dump sell, sell, sell, sell, sell all their stocks at once, the good with the bad which allows you to pick among the rubble and maybe pull some babies out of the bathwater. So tonight im taking the other side of the panic trade and giving you
People familiar with discussions tell bloomberg that although some progress has it made, both sides are still far from an agreement. The greek government is still opposed to cutting pensions or raising the sales tax. Still, officials they greece should have enough cash to make a 223 million payment this week to the International Monetary fund. John glover joins me now on the phone from london. Thanks for your time. How we view described the atmosphere of the talks . John i was not present at the meeting, but it has been ascribed as tens although more constructive than it was with the finance minister but it has been described as tense. The finance minister is controlling things from afar. Mark is greece in a position to be drawing lines in the sand at this point . John well, that is the question everybody is asking themselves. The answer is not really, but the trouble is everybodys options are quite limited. Greece is going to run out of money. The eu will have a major issue if it forc