What, what have we got here, 8. Revenue up, ad sales up, profits up, and there are now 2. 45 billion active monthly users. It was a spectacular report. Stocks up. These two stocks are helping the market but a statement from china has put a damper on things. Beijing says its doubtful that a longterm trade deal can be reached. China concerned about the impulsive nature of President Trump. Where did they get that from . The dow industrials down about 50 at the opening bell. S p down six, a fractional loss for the nasdaq. Then theres politics. Namely, the vote in the house this morning, starting the impeachment process. This has consumed the congress. It has not consumed the market. It seems to be ignoring d. C. Entirely. We will follow it and pay special attention to votes of moderate democrats from trum trumpleaning districts. Will they approve removing the president from office because of a phone call to ukraine . Cant wait to see. Stay right there. Varney company is about to begin. The
Amendment. Always. [applause] my administration has also curtailed harmful and intrusive use of federal consent decrease which wrongly give meddlesome officials in washington, d. C. , immense authority to tie down local Police Departments and make it very difficult to do their work. No longer will federal bureaucrats micromanage your local police. We will work with upon request local police to help them, not to hinder them. And were waiting for a call from chicago because there is is no place we would rather help than chicago. To reduce people going back to prisons and help nonviolent inmates successfully rejoin society. Last year we passed historic bipartisan criminal justice reform. It has been very successful. They have been trying to get it passed for a long time. We had conservatives. Connell President Trump addressing members of the police force in his first visit to chicago since he took office. The president as you heard on fox business taking aim at major issues facing the cit
That and so much more on making money. Charles earnings from cocacola, schlumberger, just to say a few. Tech stocks are falling out of the gate. The fed may end up being less accommodative. How should investors reconcile all the diverging trends . Phil blancato and jack ablin. All this anxiety is exacerbated near alltime highs a the love things going on. Start with the earnings picture so far . Happy with it . Better than anticipated . Yeah. Expectations were probably as low as a limbo stick. The fact is analysts have been calling for an earnings recession for the last three quarters. So we come into q3 with a negative 3 growth rate. What will likely happen is, that well adjust up close to zero. Analysts will lower their forecasts for next year. Charles here is the thing, phil. Big names have delivered. Also i think, i find it important to remind the office were comparing to the best year perhaps ever in earnings. Pullback is not the worst thing that can happen. Im not worried about fl
Process and were all in favor of that. [applause] by the way fake news will cut that last part of the sentence off. First part, man is he rough, too tough. I cant vote for him. A nation must put his own citizens first. My administration is standing up for american seniors. [applause] and well always protect the medicare benefit you earned and paid for. In the last administration democrats slashed medicare by 800 billion to pay for obamacare. Not too good, obamacare. Now one of their new proposals, backed by more than 130 Democrat Members of congress would cost, listen to this number, 32 trillion. That is on the low side, 32 trillion with a t. Were beyond the bs, the billions. Reduce American Household income by 17,000 a year. Is there anybody in this room that doesnt mind losing 17,000 a year . No. In order to get lousy health care. Though they use many labels all of the democrat plans would devastate our Health Care System. The fake moderates on the left are telling the same lies they
Dark about those allimportant trade talks with china. Top level negotiations start now. Where are they going, we dont know. But we can tell you that apple has removed an app which had been used to track the movement of Police Forces in hong kong. We can tell you that nba events in china have been disrupted because chinas bullying american basketball teams. And we can tell you that after being dropped in china for supporting hong kong protesters, south park has fired back with an obscenity. We can also tell you that todays market activity hinges almost entirely on any headline that emerges from the trade talks. In the absence of any hard news, its a virtual stalemate. The dow is going to be down maybe 30. Two down for the s p, maybe five points lower for the nasdaq. I will call that a standoff. Heres the stock of the day and its a big winner. Bed, bath beyond is up 19 free market. They have hired a top guy from target to turn around the ailing bed, bath beyond. Looks like that could be