It all about the guidance as well will we get a big ozark on netflix. Their numbers are coming out big banks as well. Everybody, a big week for earnings welcome. A big day for the markets as well let us begin with the rally on wall street. The nasdaq hitting record highs. A bunch of big Tech Technology names. Continue to make new highs when you look at this market could you ever predicted four, six, eight weeks ago that we would have gained 20 and 30 in matter of weeks even as the country continues to talk about reshut downs for 30 of our economy of course i saw this coming. Didnt we all see it coming. What i hold here are fundamentals this is an income statement. This is a Balance Sheet statement. Take it and rip it up because right now fundamentals are not fundamentals technicals are the fundamentals. It is driving the nasdaq continually higher i want to emphasize for a second, tesla. Think about this on friday, tesla will expire the 2500 call that is 750 higher than where we are tra
The last halfhour or so. The morning started out on a grim note with initial jobless claims very close to 3 million once again. Of smallerixth week jobless claims, but nevertheless , at those rates, it is still pretty dire. The dollar index is stronger today. Weaker euro and weaker sterling, too. We continue to see gains in the oil patch. 37, and brent crude trading above 30 a barrel. Governor Andrew Bailey also seeing the bank of england is not currently considering lowering Interest Rates below zero. His comments coming a day after fed chair Jerome Powell pushed back against the idea. Lets get to our guest, patrick chiefong, Plurimi Wealth investment officer. Expected. Ire as we maybe u. K. Data wasnt quite as bad as we were looking for, but still a contraction of nearly 1. 6 . Of 5. 6 . Do the Central Banks need to start considering negative rates . Patrick i think it is a bit of a mixed bag. I dont think the benefits of negative rates are that compelling at this point. If we see it
The reported secondquarter number for a net change in streaming subscription mist of the ball, but revenue is up. 4. 9 3ne up about 26 , billion was the estimate. Net income of 271 million. . 60, that is a beat as well. What people want to see is the growth in terms of subscribers. Romaine it is a fairly decent report. We have seen the ebbs and flows on a quarterly basis, but as laws they go upwards he will see investors willing to continue to take a shot on this. Scarlet it is all about the outlook, the Second Quarter has the release of Stranger Things, which is their number one show. People knew that the Second Quarter would be soft. It depends on how they step things up and what they focus on during the Conference Call as well. Caroline back to you, saying utilities are overbought, what you think of the faang names . Some of them are overbought as well. They do not bother me quite as much, if they have the growth opportunity. What bothers me on the opposite side is that money flow h
Everyone, thank you for joining us this morning. I am Maria Bartiromo thursday may 16, your top stories, 6 00 a. M. On the east coast, debate season coming early President Trump and President Biden agreed to debate before the election went to debate set up for june and september while biden has a strict rule to adhere to, trumps says he wants both standing for two hours, everything you need to note new fox news polls putting trump had a biden as biden sees eroding support from demographics. Will tell you about it. Markets indicating a higher opening futures indicated again at the start of trading it is up about 28 on the dow industrials extending yesterdays gains after a major retailer walmart reporting earnings in the next hour we have the numbers here live and we will bring you the preview. Housing starts and Building Permits out at 8 30 a. M. Eas eastern. Commodities come up take a look at oil, copper up once again continued record highs in the price of copper were talking about tha
Into october . Lets bring in joe terranova, of course a cnbc contributor. And thanks for joining us. I wonder whether you think that given the intra day action today, is yesterdays bounce called into question or not . Well, it is end of the quarter. Just look at oil. Oil 95 early. Today settles 2 lower, significant reversal because oil was technically overbought. So there is a lot of dynamics that are playing out in the market. Small caps are back, small caps have been brutal over the last quarter. So a lot of positioning going on. I think that you have to now look forward into q4 and say to yourself is there a a catalyst ahead of us and i think that it would be earnings. I think that is the catalyst that can restore the prevailing bull trend for the equity market. We need technology, which has seen a lot of earnings revisions higher here as you march toward the end of the quarter, and that is somewhat inconsistent to prior seasons. It is going to be technology that is going to have to