Welcome to countdown. There was a selloff. On both sides of the atlantic yesterday triggered by the i. M. F. Warning that the Global Growth would be less than originally forecasted. It was lower on the day and stocks fell by over 1 . What you see are the futures indicating a slightly different turnaround. Was at a low. We havent had a 10 correction in three years. Warren buffett that the markets are in a zone of reasonableness and what you are seeing this futures. U. S. Equity london has to play up a catchup game. Have a look at this. This is when you begin to understand about volatility. People are nervous. It jumped yesterday and no where near what it was in 2008. This is a shakedown in our market. One of our guests later will speak to that. 2008, a little bit of a shake here. 2008, 1987 and 1929. Where does money go in terms of distress . Treasury. Treasury yields hit the lowest level of 2014. The market reached panic levels of speculation that the Federal Reserve meeting would bols
Im Stephanie Ruhle. Erik schatzker is off today. Bill cullen is joining me today. Bill cullen is joining me today. I wanted to be similar to santa claus. We are breaking news on the housing market. Olivia sterns is in the newsroom with headlines. The numbers look like u. S. November home sales fell by economist we surveyed were looking for new home sales to rise by about 4. 4 . This is a big disappointment. Thirdquarter gdp showing 5 growth in the american economy. Add to that the disappointing herbal goods orders and durable goods orders. U. S. Consumer spending rose by 6 10 of 1 . Incomes rose by 4 10 of 1 . Those numbers were in line with estimates. The takeaway is that new home sales in a month over month basis for the month of november fell point fell to 1. 4 . I do not think we will see too much of a market hiccup. Thank you for giving us the latest. We have hit a new milestone on the dow, 18,000. It is up a little less than half of 1 after the gdp report earlier this morning tha
Have pulled out. 1015 years ago, it was much bigger than that. Ericsson, etc. We are the size of market cap and growth and people were read about us with juniper and others and yet will pulled away from them as well. It isnt that cisco i am talking about is how fast his industry is changing. Out of the big six ip players three of us will not be relevant to our customers. You can say that as the Silicon Valley stuff where you move fast. If you look in this role, only 1 3 of you will be relevant in 20 years. When you look at uber and what they did to the taxi industry and amazon with the challenges of walmart. You will see those types of transformation coming everywhere in the world. The nice thing about cisco, if we lead the transformation, we will be in the center of it. Connecting what would be 500 billion devices. People get excited and they feel threatened about it. By some equipment. Buy some equipment. Some businesses today, our technology businesses. The decisions about what the
If you get a chance, you can watch it all again. I do very much encourage dennis will be leading the interview but this is very much a participatory event. We will have plenty of time for westerns afterword so please be ready for questions after that so please be ready. Thank you all for being here. I will hand it over to dennis. It is a comparable time today in new york. Lets get right to it. You recently predicted that perhaps over the next 10 years some of the Biggest Technology companies will not be around. Tell us about who they are, when they are going to go down. [laughter] go right to it. Talk to us about that. It is a very real observation. If you look at hightech industry, if i were to take a step back my competitors from 15 years ago, not one of them exist s. Such as . Synoptics, cabletron, they have pulled out. 1015 years ago, it was much bigger than that. Ericsson, etc. They should have crushed us and yet we are the size of market cap and growth and people were read about
Credit with our palestinian partners, to do it. In jordan, we worked on their Education System. Weve done that 10 years ago. Currently were working on the refugee capability, health care and education. We know how to transform. So the business or government leader, if somebody can bring you huge benefits that you want, as a track record of being trusted this is an issue for merkel to solve with a bomb. Theyve got to have rules of the road in conduct. Theyve got to resolve it there. You cant put your businesses in between. Its a fitting note here on u. N. Week. Just a few last things. Speaking of heads of state hillary clinton, she came to address your sales meeting at tell us what happened. What was it like . Does she have it . Is she going to get it . Well, it was interesting. Ive had the honor to interview probably 20 heads of states. Ive interviewed her husband probably four times. She didnt want to know the questions ahead of time she gave a good opening comment for about 10 minute