Say the least after a bit of a rebound the other day when i was on with you, yesterday i was not here for what was a decline overall in all the markets. I think we are in a new era of volatility. Every single time we get an up opening people say, okay, i guess that selloff is over and when we get the printed selloff people say this selloff is going to go on for ages. I urge people to step back and recognize we are in a period where theres a lot of vacuum, a lot of people trying to buy when its going up, a lot of people trying to sell when its going down and just interpret that as just being enthusiasm, greed and then fear and accept it that its here to stay because its really the undercurrent behind these moves. Okay. And what does that mean in terms of this socalled playbook that you often offer people who listen to what you have to say sure. It means that if you think that it is going to bounce today because it was down hard yesterday, dont make the first move wait to see whether the
Beyond meat. Ten year 1. 83. Caseshiller up 3. 2 year on year road map, record watch the s p at the all time high dow and nasdaq not far behind. Streaming wars, hbo max, details coming today david is live in los angeles ahead of the warner media investor day and some tough questions for boeing what to expect as Dennis Muilenburg testifies later today. Well start with the markets, a day after the s p hits the 12th all time high and the 14th record close of 2019 jim, halfway through earnings season here. What does it all mean . I think you go back and i was going back and looking at some of the big Billionaire Hedge Fund managers and what they have been saying and almost in unison said, look, you got to be very careful. It cant last. Numbers can go back to the negative the companies arent letting it happen the companies, for the most part of, the Biggest Companies reporting great numbers. The classic one is merck last week, merck got hit down to 79. 80. Bristolmyers, a cocktail, that was
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Hour to the republican senators policy luncheon. Senate Majority Leader Mitch Mcconnell saying tax reform is the top priority. Lets get it done for the American People so the country can get going again and growing again. Connell mcshane is on the hill with all the action. And were also going to take it outside the beltway to tackle this. Former republican governor of nebraska and former north dakota democratic senator byron dorgan are here in a fair and balanced debate on the substance of the upcoming tax bill and the chances of finishing the reform by december 31st. Its all happening as the Dow Jones Industrial average rockets to a new alltime high. Three stocks in the dow are the three legs of the rally stool powerful earnings specifically from companies that serve as indicators for the health of the economy. Caterpillar, mcdonalds and industrial conglomerate 3m, and the new iphone 8 about to outshine its tricked out cousin the iphone x . Less than an hour to the closing bell. Lets
Hard selloff is this advance meaningless as the recent decline look, i want to say it had more substance given its magnitude, the dow gaining 196 points nasdaq vaulting 1. 36 . But we are in a totally erratic moment in a totally erratic month where i believe one day never seems to beget the next. But that doesnt mean we cant ponder why we went up to measure the meaning of this rally. I came up with 12 reasons why it happened, and some of these reasons have enough staying power to keep the advance alive. Lets start with copper. Thats right copper is breaking out to a threeyear high. This means something because its used to build things. It means weve got a stronger Global Economic growth spurt than people are talking about. A necessary ingredient for any sustained advance. Thats why the stock of free port has been the Market Leader. Largest Copper Company we have caterpillar is right behind them you need cat machine it is youre going to have a mineral rally. This move is also including