Of the pandemic. Well talk to mayor of miami about what his city is doing to get back to business in these very tricky times. Power lunch begins right now bob has more on the markets today. Bob. Were grappling with that right now, four to one advancing to declining stocks. The market continuing to believe the primary thing affecting them is the rope ieopening the market believes its going well you heard about the president s tweet. Is that heetsing up. There are people questioning over the weekend any need for more fiscal stimulus saying we sit back and see what happens at this point thats an issue. Three of the four, an issue over the weekend. The russell 2000, small cap. Were seeing banks, retailers doing well were seeing transports doing well today those are airlines this is all the roping stoe ing and the market believing that is koptsing. Most markets are at the highest level since early the first or the second week of march were not seeing dramatic break outs its the same old nam
Im not hearing much by way of right now. Shedding nearly 900 points this week technology, the biggest laggard, their reinvolvement. Take a look at apple, microsoft, does that suggest its because a amazon and nvidia, all moving lot of these u. S. Economies still depend on that lower by roughly 2 or more in a thats kind of what were couple of cases. Well have more on that kelly talking about, right were talking about the fact 5g has civilian and military later. Tyler, thanks to the breaking news expected applications down the road so theres a great deal of concern this hour now. President trump is about to make how this is used in autonomous an announcement with trade on warfare should it come to that the eu there are always big eamon javers has more now. Conversations. I thought huawei was kind of the president s run ining a w taken out of the process to an minutes behind there in the roosevelt room at the white house. You can see cattle ranchers are extent, but not favorably so already
May 2018 when they lost their ability to judge because so many were being by crypto maniacs. When crypto sold off, that demand vanished. There have been other times when i have been asked whether it is still safe especially when the going to earnings. I typically said i dont want to play that game. I like nvidia but i dislike earnings rules which brings me to lesson one, i am not a hedge fund matcher anymore. I am not trying to teach you how to be a hedge fund matcher. Read the research, by speaking to the analyst, the company would go up or down in results. That is your trading, not investing. These days, i cannot even play that game. I just know i like the company. See, i have come to the conclusion that what matters is the longterm and not a quarter. The lake great and to growth telling the ceo that a quarter isnt a reasonable proxy, a good period to reach read a company. He lays all of this out and i used to believe he was right but there are too Many Companies that stocks break do
Welcome, steve speaking of inflation, julys cpi report showing an increase, less than expected dow up 455 points before just now turning negative s p now down 7 points. Nasdaq down 21 by the way, these losses come after that weak 30year bond option talked about top of last hour sent the tenyear yield back above 10 pressure from that direction and positive earning movers. Holding up the dow now, mixed result plagued by streaming woes restructuring costs and 7. 5 surscriber loss nearly shares up 4. 5 planning to crack down on password sharing like netflix. Alibaba up 4 . Chinese tech giant beating top and bottom line. And lululemon massive hike to guidance keeping up with the growing theme this week, another big deal Luxury Company tapestry announcing requiring versace and jimmy choo for about 3. 5 billion. More on that later in the show. Start with a key read on the economy and the health of the consumer todays cpi coming in just a touch below expectations with year over year rate climb
Reform plan will further spur growth forecast for the e commerce giant and shares of ge on the move jp morgan report seize a dividend cut as increasingly likely the Company Tells us it remains a top priority historic run in the markets includes the 47th record close of the year. Weve got black rocks larry fink talking about risks in the market earlier this morning on squawk. Lets be clear, the United States deserves a premium. Our companies are stronger they are better managed over across Many Industries so i actually believe the u. S. Deserves a premium to the other markets. Not just that, jim, says he wouldnt expect to see any major reversal in equities until sometime next year. I love the guy, what can i say . Every time i talk to him and see him, he has a sense of whats going on there are moments when hes pessimistic and not like hes permable, i like what he had to say and liked his quarter. I wrote a piece this morning for real money saying its events that i cant see and north kor