It will have erased the gains of the year. Courtney reagan has more on whats exactly happening. One trader i talked to said there is no one sudden catalyst. Just a lot of things were seeing thats making this a be generally riskoff trade. If weve broken through sew key Technical Levels. Specifically on the s p 500. The next level we are looking for is 2,067. Well see if we break through or hold above it. Consumer discretionary, health care, telecom are the biggest drags. Energy is actually higher and crude oil which continues to fall. Despite all the retail news and movers in the Consumer Discretionary names weve been uk talking about it all today, 7 of the 15 performing stocks in the s p 500 are media stocks. It is kind of due to this reinvigorateing talk about cord cutting. If you look at the s p media industry, a subsector group here, having its week since october of 2008 when it lost almost 22 . You can see by that chart was level, then the steep falloff. One consumer discretion yae
Tweet me cramer sometimes your goal is to simply not be shane out of a great stock. You dont want to get so disturbed or dismayed that you turn into those unlucky people who buy high and sell low. They know nothing a time under way to lose money. We saw the launch of the iphone ten and it caught the entire session. Averages rose to the alltime high nasdaq inching up. 09 but apple was down apple stock is all about the difference between trading and investing. I was both a trader and investor for 21 years principal ofessiony taking longterm and shortterm positions. I can only invest and im severely restricted in what i can do but not what i say. Invest requesting trading require two different mind sets. When you invest youre going in for long hall. As club members will hear once again, you need to be disciplined. You dont want to buy all at once you buy gradually in stages on the way down when you neinvest when youve done your home work and believe in the store the stock goes cheaper tha
And pays out 60 of it earnings through difficult depds and has bought back stock on what people think are attractive prices. This does not sound like a company that need your help. Its a Great Company and a great business and the stock has done great for a long period of time the issue for shareholders is not how well the company has done over the past and how well it will do in the future bottom line is adp has underperformed relative to potential. Youre judged relative to your potential, not relative to fat issus quo and this is a company with huge opportunities to improve its profitability. Its not an efficient business, and in fact many things you mentioned explain the reap why are the company has underperformed when you have no debt and have a really profitable business and dominant market share. Those are companies over time that get less efficient because they dont have to be as efficient, and that lack of efficiency becomes an issue for the business Going Forward and becomes a
Everyone. This is bloomberg surveillance and im Francine Lacqua in london. We will be speaking to jack straw, one of the three people serving in the candidate from 1997 to 2010. We talk brexit and trade. Youre meantime, this is market. Equities seem to be on a tear. Stocks in europe are a little bit mixed, but the euro holding onto gains. We saw catalonias president stepping down from the immediate declaration of independence in spain. The dollar, drifting down a little bit. Oil rising above 51 a barrel, as opec pretty good. The nikkei 225 rising to the highest in almost 21 years, following the Dow Jones Industrial average, that touched a fresh record high yesterday. Lets get straight to the bloomberg first word news. Plans to donald trump make changes to his tax plan within the next few weeks without giving any details. At the same time, he dismissed concerns that his public spat would dismiss an overhaul. Independent analysts suggest it would raise taxes for 30 of people, making betw
In north korea . General jack keane will join me live and the dnc, Donna Brazile blasting critics after her book revealed a big divide in the Democratic Party Mike Huckabee will be here as we look ahead right now on sunday morning futures. And tomorrow, the senate is beginning its markup of its tax plan which we heard about last week. Meanwhile the house is hoping to vote on its own version of the plan by the end of the week. Many questions still remain one of the biggest is will the plan actually raise taxes on some americans . Im joined by right now by the president s chief Economic Advisor gary cohen. Gary good to see you. Great to be here. Maria thank you so much for joining us so give us a status check the senate is going to start its markup this upcoming week. What does that mean in terms of your timing tell us how you visualize this moving forward . Gary as you pointed out thats exactly right but we had a really good week last week. The house got the bill through the ways and Me