Well party like its 1999 because prince is coming to oakland. This sunday hes bringing his piano and a microphone tour to oakland for two shows on sunday. He pulled all his music from streaming services about a year ago. You cant even find it on youtube. You have to buy it. Imagine that. Imagine paying money for music online. Thank you for joining us this morning on the 9. Well have more on prince in a minute. This morning former state senator leland yee will be sentenced in a high profile corruption case. He was arrested in 2014 and the judges decision should come in about an hour or so. Alex savage is live with different views on how much time yee should serve. Reporter two years after the former senator was arrested, today this long saga will come to a close here at the federal courthouse in San Francisco, where at 10 00 this morning ye,will be sentenced along with one of his former associates. Our analyst talked about how this will play off. We may hear impact statements from both
To raise rates it could increase in inflation. He doesnt conclude that would happen but we need to think about that. He repeats kind of the normal argue amount for raising rates and says f1 policy remains extreme and inflation is close to target. Not strictly endorsing but saying thats the normal argument for why rates should be normalized. Former Federal Reserve chairman ben bernanke out with a blog about negative Interest Rates and says the fed is not out of ammunition but there are signs Monetary Policy is reaching its limits. They include lowering rates but not much to do there. A quarter point. Forward guidance could be powerful. More quantityive easing and negative Interest Rates. What does he say sna that evidence from europe suggests they might be more powerful than had previously been thought and argues anxiety over negative rates could be overdone. Banks could still earn a profit by charging a higher rate than they pay. Bernanke also says negative rates have modest benefits a
Investors. Dow gained, nasdaq rocketedstra much alphabet and amazon. Not to mention microsoft. Thats four straight week in the black for the averages. I find that amazing. With the Global Economy obviously slowing, this market is taking up the big industrials and the tech stocks and throwing away the witnesstreasured healthcare names, at least until today, where they tried to rebound. Industrial and tech have been weighed down by the short dollars. Tell that to the ceos of microsoft and alphabet, which is of course google, and amazon, who stopped the shorts last night. Down there giving them the business with magnificent earnings and fabulous Conference Calls. More on that later. That doesnt mean my thesis goes away. Today healthcare may have escaped from the bears den. But now retail is being mauled. Footwear star sketchers fell short of estimates, something well talk about later with the companys cfo. You dont want to miss that. We go to next weeks game plan. Come on, thats the drill
That doesnt mean we can ignore the macro data. What are the homebuilders waiting for . How about the new home sales data on monday . Weve also got one Earnings Report ill be following closely on monday. Thats broadcom, a Big Semiconductor company. This market used to adore the stocks of target. This morning another semiconductor company, freescale, being acquired by msp semi, is reporting a low number, in part because of china. In broadcom notes any similar weakness, it does a lot of telco equipment, semis, i bet the whole high gross Semiconductor Group which is finally trying to claw back today will get hurt again. It will see rotation into the more plodding basic semis like intel and basic instruments. Please dont forget about cyprus semi. Tuesday is the day that everyone seems to worry about most because apple reports. Apple is cheaper than any of these techs that exploded hard today. But that doesnt mean the stock cant be hurt, now that the tech bar has been set so high by amazon a
Industrial and tech have been weighed down by the short dollars. Tell that to the ceos of microsoft and alphabet, which is of course google, and amazon, who stopped the shorts last night. Down there giving them the business with magnificent earnings and fabulous Conference Calls. More on that later. That doesnt mean my thesis goes away. Today healthcare may have escaped from the bears den. But now retail is being mauled. Footwear star sketchers fell short of estimates, something well talk about later with the companys cfo. You dont want to miss that. We go to next weeks game plan. Come on, thats the drill. Radical moves already, we have to be ready for the second big week, where the performance of companies matters more than gibberish about the federal reserve. That doesnt mean we can ignore the macro data. Waiting for . How about the new home sales data on monday . Weve also got one Earnings Report ill be following closely on monday. Thats broadcom, a Big Semiconductor company. This m