10 in its debut, valued at 1. 9 trillion the largest listed company in the world. Plus, the fed and a trade waiting game stocks poised for a muted open as investors seek further tea leaves on trade and the fate of monopolies arent bad if they are not abused tim cook coming to the defense of business but said apple isnt one. Saudi aramco strong public debut. Shares jumpedon the open, the maximum 10 on the Stock Exchange in riyadh limit up. The state owned oil giant is the worlds most valuable company list at 1. 9 trillion, thats about 6 exxons and above apple which has a market cap of almost 1. 2 trillion. Well placed deal. A lot of people in saudi arabia decided to buy this stock. And that boosted it. I think sometimes you get deals and they pretty much determine where it is going to be. So now the question is, yield. And whether the yield exceeds what mike worth is offering on chevron. I think it will. I dont think it makes people suddenly all excited about the oil stocks, but it does
Company. So that got us thinking. Will any of this years ipos be around in a century from now if so, which one should you buy . All that and more ahead. First, we begin with the countdown, the one that matters most to you and your money, december 15th. Less than a week away. That is when the next rounding round of tariffs go into effect markets seem a bit skittish on the news will the race to new records resu resume, deal or no deal, which is a different show. You sound a little hoarse, are you okay im fine. Spent some time on the airplane lately. A little hoarse i worry about you why are you glaring at me . Im not glaring this is how i smile. You look great. I really mean that. Im in the further downside camp i think that President Trump will pull the trigger on saturday night at midnight and hes going to go forth i think in his mind obviously i dont know anything, but in his mind hes got a lot of room in the equity market he sees the data out of china which has been miserable hes the
Points at the s p. The dow up 72 points the nasdaq looking to be higher by 32 points in asia we saw a pull back from yesterdays gains off the china u. S. Trade truce hang seng is off just a fraction over in europe, european equities are mostly higher the dax is up by 0. 8 . Perhaps europe is still digesting the news that Christine Lagarde will head the ecb. The first woman to do so treasury yields fell back below 2 yesterday and remains there right now. 1. 895 the global story here, the benchmark german bund yield has fallen to a new record low, negative 0. 385 right now. It was negative 0. 4 earlier. The italian tenyear has gone from 2. 8 to 1. 7 in the space of about three weeks. Lagardes appointment seen not just in the german bund yield as not potential hawk, she will be more dovish, but someone who can operate politically and avoid a clash on the italian budget. Both appointments being European Commission president and ecb president being german and french shows the power brokers,
Nasdaq declined. Everyone acts like this a totally by narcoticry si bianar. The fed tightened nine times and weve had a phenomenal bull run here im not saying the fed doesnt matter Jerome Powell almost drove the economy off the cliff when he was determined to raise Interest Rates. Ill be watching him like a hawk or maybe a dovish hawk when he speaks to congress however, i think far too many people are misreading the fed and more important, they are misreading the moment first, let me set the stage. Lets talk about the economy after gaining strength for the better part of a decade, the economy started losing steam last fall. The Business Cycle is a tricky thing. It can speed up or slow down for any number of reasons. We dont need to know the cost we just need to notice that a slowdown is happening. The problem late last year is that they didnt notice. They didnt notice in 2007, either something they get wrong now and then if you look back at the period since the fed started tightening,
peaking. it may be over by april. the scientists has street cred, 83-year-old epidemiologist who helped fight sars 17 years ago next thing you know the market s making a stand although that move didn t last the dow only sinking less than half a point s&p gaining 1.7% at one point the market was flying on all of this. suddenly you see what s happened is, there s a bull case developing a china bull case. we re getting our first data that shows a much higher percentage of people are recovering from the disease while fewer die, which suggests maybe we re through the most lethal stage more importantly, at least as far as the stock market s concerned, a legendary hedge fund manager, ray dallio, says concern about the outbreak is exaggerated. according to him hardly anybody s going to be talking about this virus in a year or two. that s academic what we needed, a good old-fashioned hedge fund manager tells us fears are 84 done come on in weather s fine. i know he didn t say that, bu