With stocks and the march to dow 20k, as you know was less than a point away from making history on friday. Plus, coke and p g getting downgraded to sell this morning over at Goldman Sachs. And a busy week on capitol hill, confirmation hearings for the president elects cabinet picks are ready to get underway. First up, once again the dow will take a shot at hitting 20k. Theres a call out of goldman not helping a pair of blue chips the Firm Downgrades coke and p g to sell saying it sees headwinds from a stronger dollar as well as sluggish and market demand. Not often you get two sells on two dow components from one firm in one day. These are companies these are Great American companies. Its obvious that this is a call setting self up for much Stronger Economic growth. Now, it is the wrong time for the call because Interest Rates are down big today. So thats going to put pressure on the banks. So if were trying to get to dow 20,000, you may see on the tape in the bottom a lot of good thi
A little bit of our live addition of reliable sources this morning. A lot to talk about even in reaction to what Kellyanne Conway was saying. Let me start with the former covering obama presidency. And then devika patrick, the ceo and founder of taxonomy. Well talk about facebooks role in the future of news. They were covering the clinton campaign, and now doing abc six years ago, Kellyanne Conway just said the press is negative of the man we cover every day. Are you presumptively negative . Im cynical and thats my j job. Not skeptical cynical . I think we have to be a little bit of both given this administrations relationship with the truth. And how tough it is for us to get at that right now. Do we start our day, and i think i can speak with all of us to sit in the Briefing Room everyday, and a negative manner . Absolutely not. Thats not the tone from my perspective of our coverage. My sense is that this perception that there is an adversarial relationship much more comes from the wh
A little bit of our live addition of reliable sources this morning. A lot to talk about even in reaction to what Kellyanne Conway was saying. Let me start with the former covering obama presidency. And then devika patrick, the ceo and founder of taxonomy. Well talk about facebooks role in the future of news. They were covering the clinton campaign, and now doing abc six years ago, Kellyanne Conway just said the press is negative of the man we cover every day. Are you presumptively negative . Im cynical and thats my j job. Not skeptical cynical . I think we have to be a little bit of both given this administrations relationship with the truth. And how tough it is for us to get at that right now. Do we start our day, and i think i can speak with all of us to sit in the Briefing Room everyday, and a negative manner . Absolutely not. Thats not the tone from my perspective of our coverage. My sense is that this perception that there is an adversarial relationship much more comes from the wh
Hello. Is this the right reaction . Last thursday, cyclicals began to rally. We questioned whether it was the time to make that rotational call. So far, the bond proxies, consumer staples, utilities, theyre outperforming the cyclicly oriented type names. You come in this morning, you question whether you want to get back where you have the exposure to the cyclicals. Ive stayed with financials. I think thats the right play. Then the other question is what do you do with global cyclicals, which have far outperformed domestic. Is there more runway there . Do global cyclicals continue to outperform . Thats the question. What is your answer . The answer to that for me is dont leave the financials. The financials remain the biggest source of opportunity, both on a valuation basis on opportunity to drive earnings growth. To me, thats the one i stay with. There are others that i think are suspicious and questionable. I like joes calls on cyclicals. Theres a big question we just dont know the a
Good morning and welcome to World Wide Exchange. Im wilfred frost. Very good morning to you from me as well. Its throw back thursday. Were throwing it back to some summertime classic. Business morning ahead. This is old school. This is old school indeed. We have a busy morning. Lets start with the buzz out of cleveland. Ted cruz steel lg the show. He failed to endorse donald trump. The live report from cleveland in just a minute. All i will say is given he was a candidate, sounds a little bit like a sore loser. Different if it came from mr. Ryan or many continental. He had been a candidate. He certainly overshadowed. Be positive. He certainly overshadowed governor pence who is the running mate. After another record close for the dow and s p 500. U. S. Futures little change to slightly lower. So could change over the next hour or so. Well keep you apprised. Dow futures for the moment down 24. S p down less than 3 points and nasdaqless than three as well. Check out the japanese yen. On t