There moderate economic growt d and little to know in that environment, a company with good Growth Prospects that executes wealth, should produce a positive return. When we hear from the Federal Reserve, when were in exactly that sweet spot i just described, so that while the industrial and financial dow only gained two points, the nasdaq actually declined 2. 4 . The Federal Reserve needs to raise rates by a quarter of a percent as it continues to get out of its emergency footing because theres no longer an emergency. As someone who got in this business when rates were at 14 . Im not going to sweat the program at 1 and change only younger people do that. However, we have a gigantic Cottage Industry of second guessers who constantly critique the fed and find it wanting. Frankly i find the second guessing to be totally other worldly. Think about it we have a government thats incapable of getting anything done because of strife we have horrible partisan activity, the worst since the civil
Clock, the senate giving back two weeks of august vacation to work on pushing the again today forward, including repealing and replacing obamacare. Republican leadership blaming the delay of the recess on democrats obstruction. We have third highest ranking republican senator, john thune of south dakota. Chris van hollen, democrat of maryland both joining us this hour. There is donald trump, jr. , releasing his entire email exchange about a meeting with a russian lawyer. He did it to be quote, unquote, totally transparent. If he was aiming to make the story about russia go away. He failed there. It is blown up. We have white house reaction. Legal analysis later in the hour. Melissa back to the markets. The dow logging a 160 point swing on heels of big news out of washington. Straight to Nicole Petallides on floor of new york stock exchange. We have you concerns about selling about 11 30, down 130 points on the dow. Of the later in the day as Mitch Mcconnell said they would delay taking
Sprint sounding out of b about a story here on fs munz last night, reaching out directly to me, of all people. What got him so riled up first, we start off with the big story on shares of tesla revving up following its Earnings Report weve got full Team Coverage gene is back with us out in detroit today getting ready to listen to the Conference Call in just about 30 minutes. Well check in with him. Phil is in chicago dig iging through the earn x report that just crosseded and phil, you had to read the shareholder letter, investor letter and to me, they addressed the issue of cannib cannibalization and cash flow. Which i think were top of mind for investors. Right well talk about that cannibalization because theres been so much speculation that as the model 3 came out with some strong reviews that people would say, look ill get the model 3 for half the price of a model s. Thats been a concern for tesla for some time. When you look at how the company did in terms of the Second Quarter an
Of edged up yesterday. Jamie dimon am i too early in that promote . Yes, you are permeant yesterday, you got me all confused. Im all over it theyre producing a lot, but theyre not but they dont have the pipelines. Lets get to the road map this morning. Well get to oil but for now, were going to talk markets. The dows win streak is at 10. You saw their futures are looking, at least for a lower open plus, Michael Koors and ralph lauren delivering some upbeat news you got that right, upbeat for the Retail Sector. Both of those Companies Beat the estimates of the analysts. Follow them. Koors up a lot cbs coming in better than expected but they lowered guidance, so the stock is down. Basketball, ad sales. Oh, i thought you meant cvs no. Oh, you have to say channel 2. All the time on the trading desk, you never use the term cbs. You say ive got 50,000 channel 2 to buy too many people bought cvs and that stock is down never use cbs for cbv. Okay. And Charlie Victor was not. It was down it not
The main event was organized in washington. This is bloomberg. Caroline coming up, google steps up its cloud business. We have all of the highlight highlights from googles conference. The next wave of u. S. Tech one nano degree at a time. Interest as a Search Engine with a more personalized touch. Google sees reliability as a competitive advantage. Conference, dan ranked google ahead of those companies as the most reliable copywriter for 2016. Clients. O attracting it in the latest speech, he says he sees cloud becoming one of the Core Products such as search advertising. Google cloud is a natural extension. We are just doing it for businesses. Increasingit means availability and lowering costs. We also talked about i is going to open up new businesses, for example Financial Services and we can. Ave Better Services we can have new ways of delivering products to customers. Ai Machine Learning is huge. I deeply believe this is the driving force of a transformative time. Is this why you w