Right now. Well take more of yesterday today that is for sure. Welcome to fbn am and good morning im cheryl casone. Hey cheryl good morning everybody. Im lauren simonetti. Yeah well it is a great morning for your money investors gobbled up stocks yesterday. Also major indices were set to open at record high this is morning right now were a little bit to the downside. Back to change, though, the dow is down 12 s p up one and three quarters nasdaq down one and three quarters but the dow could if things turnaround hit a 100th record close today under President Trump. Thats unbelievable. Records indeed set yesterday, the s p 500 and nasdaq both hitting all time high as you can see on this screen. If youre keeping track, with the s p had its 24th record close of the year. The nasdaq had it 19th. All of these new highs are under President Trump. That tech heavy nasdaq led the way with 114th record close that was powered by technologying toes trade optimism there and s p is 10 4, dow hitting
Well bring all the names that you should have in your portfolio. All that and so much more on making money. Charles well, love him or hate him President Trump went to the new York Economic Club in 2016 and outlined his trade strategy. He did not minutes words. He promised quote, to use every tool under american and International Law to end trade abuses by foreign countries. He promised to stay out of the Transpacific Partnership and rip up and replace nafta. President trump has done all of those things. While experts speak in generalities about the harm of tariffs in theory, in practice the biggest hit to the u. S. Economy may be the large american corporations who are withholding investments ostensibly out of trade policy confusion but perhaps to trigger enough economic pressure to stop any additional assault on their bottom lines. To be fair a lot of businesses are doing what businesses do, they have adjusted. Now it is premature for President Trump to take a complete victory lap but
Of december and november was a very strong month for stocks, even though you did see some declines on black friday youre looking at the best returns we saw since june for all of the major averages. Last week again, you did see some big gains too right now the dow, s p and nasdaq are still less than 1 to 2 of the intraday highs with these gains, youll see them challenging that as tom mentioned. Although, i also remember last the first trading day of december last year. Not quite as much fun. I still have some night mares about that. Would not be the only one with scars leftover from that. I think the dow was down 15 at one point in december last year we were having a great year. Markets were up, not up like they are this year. Bottomed on christmas eve, december 24th and saw things take off from there. Its been a very strong year. Will a santa claus rally power the s p 500 and dow to their best year in a generation . Could happen. Were up a lot. What will that take to get there, 5 . Pro
The stage at the deal book conference lets listen in sfl back to our stage youve been with us before we thank you now. I have. One of the reason we wanted to see you was because we are right in the midst of the streaming wars. We are. Which have just begun with apple plus last week and with disney plus coming next week and i want to use this opportunity for you to help us understand how youre looking at all of these different components parts and whats about to happen to our media ecosystem. Here is where i want to start the conversation. Okay. I know you have historically said you dont have think you have any competition or if you do it is with sleep. Do you remember that line . A great line only got a couple of laughs here but you got more laughs before. When i do it its better. Thank you and so my question is now that you see whats happening in this ecosystem, an ecosystem which you effectively created or at least inspired what you think is going to happen. Look at hbo max, disney p
Charles schwab is expected to buy ameritrade jim as you noted on twitter, the unprecedented influence of robinhood. Yeah, look, when youre out here, you realize there are players. David talks about them a lot, including softbank, theyre fun organizations with no real growth path for earnings a fabulous growth path for revenues this robinhood has been an incredibly well funded sensation particularly among the younger demographic. Its very hard to fight a company that will you play for free and thats exactly what disrupted this industry was Venture Capital money. Think about it, its been a stable oligothic for a while. Why not surrender to schwab . This makes so much sense now schwab will be the largest asset gatherer, incredible machine. I this i schwabs store, we dont know the ratio, this deal done makes schwab go up a lot more than its up right now. David, lets talk about this deem we got some paypal news as well. Mna is getting a bit spicier as we get to year end yes this would be a