Your mad money couriers from the swift completions of our pointed rounds. Especially now that the dow gained. What can i say . It really is pretty much how i feel about tonights election. Oh, it is manageable. Like Everything Else thats been thrown at us as a country. Hey, were going to help you manage it tonight when our special coverage begins at 7 00 p. M. Eastern. Why do i say manageable . First, allow me to give you a couple of reasons intrinsic to the stock and bond markets during this 61yearolds lifetime of love for finance. And then we will talk about politics. And the standard republic to explain the u. S. Postal services hallowed motto. Lets start with 1979 when i bought my first stock at a time when the federal fund race was at 15 . Yeah, the one thats currently at half percent. Interest rates were high back then because we had ruinous inflation. We had nothing like that now. In 1979 it was easy to throw your hands up and say, nothing can work. Nothing remember, that was the
Its got to give at some point. It does give. That is running out of steam. The dollar rise and the basically the bond selloff. You think thats going to run its course . I do. I think were still going to be anchored to europe, scott, and i think theyre going to be providing an awful lot of stimulus over there. Pushing on rates still. This is what draghi said. Im telling you what he said. He has put that trillion dollars where his mouth is. He will continue to put the additional 700 billion that he has potentially there. I think those are catalysts for lower rates over there. Weiss, im talking about over here, doc. You know, were anchored to that. How are we going to run from 240 up to 300 on the tenyear. We already are on their way up there. Tenyear yields up 65 basis points in a month. Are we going to continue that rise . Thats your question. Isnt it . Yeah. If its going to cause the stock market to wilt. Do you we agree or disagree . Partly. Im trying to be nice before the holiday. Go
First we start off with what seems to be trumps indestructible rally. The dow hitting alltime high out of the gate this morning. The s p and nasdaq having their best day in two weeks and all of this on the face of huge events over the weekend. That would have normally shaken the markets. Trump tweeting, almost taunting china and italy with a historic no vote on a constitutional referendum that could shake up the country. And an you will but certain rate hike next week and investors buying anyway. Can anything take down this trump rally. Should we call it the teflon trump rally . Something is going to take it down. Kudos to team, karen. Dan bullish on the financials. Even dan. Pete has been steadfast, as well. Can anything take it down . What i think is going on, and by no means have i been some raging bear. I think people are saying, all right, lets look at the financials. Where were they trading in 07, 08 before everything hit the fan. Goldman sachs was probably trading twoandahalf ti
Im michelle carusocabrera, heres whats happening right now. Stocks are trading near their session lows with the dow currently sitting down 99 points. Were going to have full market coverage coming your way. In the meantime, evacuations are under way in california as a Massive Wildfire tears through parts of los angeles county. We are live on the scene ahead. And, take a look live at the floor of the Wells Fargo Center in philadelphia, thats where the Democratic National Convention Kicks off today. Full coverage coming up in just a few minutes. Brian. Well, as you can tell, folks, from michelle and tyler theres a lot going on today including more on this incredible heat wave smacking much of the country. But we begin with apple. And a big call on that stock that is pushing apple shares to session lows, lets get right now to cnbcs josh lipton with more. Josh. Well, brian, thats right. Those apple bulls are getting tougher to find. The reason for the worry, the health of that iphone franc
Later, its a secret sign that energy may have found a floor and had one trader placing a very big bet. Well tell what you that is and well start off with the big moves in tech. Cisco surging and tesla misses but the stock is soaring on an upbeat outlook and amazon announcing a 5 billion buyback. Do these then to buy back the standout performance we saw in todays session in technology . Is it time more importantly to put the tech trade back on . Guy. When you talk about the tech trade, thats a pretty wide swath but in terms of cisco specifically it might be time to take a serious look at cisco. You dont have the Revenue Growth you need to v. Probably up 2. 5 , 3 and youre talking about a company thats traded seven times forward earnings, great Balance Sheet as shown by an acquisition added to a buyback. Started to make a transition are, and pete can speak to the transition microsoft did. At least they are attempting to move away from legacy businesses into businesses to make more sense