Talking with andrew about what exactly got washed out yesterday. Hard to say a lot when hertz is up 50 premarket. I mean, look, it is kind of a comedy of errors, no insult to the board. Really there is a Bankruptcy Code and maybe hertz management got permission in the old days when you went bankrupt there would be a little bit of a stump of stock so that you could go and sell it and show the irs that you had taken the full loss carl icahn sold a ton of the stock in the 70s, he sold 38 . I think if he had known that there would suddenly be a new stock he would have hit that bid. If i were him id sue. Id sue right now. I would just hire a lawyer and sue because he sold at what the company was advertising as a bankrupt price where the common stock was and he has i think a right to be able to claim 38 of this money and i urge him to do so, to hire a lawyer and get the money because this is just ludicrous. Well see what the court says i think theyve got to get to 4, right, to get to a billi
Upon first their trade war fears which have kind of gone down and now the coronavirus fears which we do think will eventually pass also do you buy the chip stocks . Theyve been buffeted around on supply chain disruptions yes we like the chip stocks. We think theyve been great investments and have had a turning point in their cycle we expect them to continue to do well and we have an exposure that we like thank you both for joining us obviously pharma is a big piece of the story lets check in for the latest on the virus with nearly half of the cases outside of china coming in just the past four days carl, concerning increases in case numbers coming from several countries over the weekend south korea, italy, and iran total numbers now topping 79,000 around the globe with more than 2600 deaths. The World Health Organization just now in a briefing detailing some of the findings from its teams visit to china. One is that the epidemic appears to have peaked and plateaued in china between jan
On tv and radio. Im Jonathan Ferro. Tk taking a break, equity market soft, down a 30 on the s p 500. The bowls on wall street getting more bullish. Now looking for 4900 on the 400, the price target set at the end of december. He was bullish and right to be. He raises his price target. City are looking for 5000 by the middle of next year. It is record high watch on the street. Lisa and the potential for a 28 gain this year, the biggest going back to one to 19. Can we get the start of a new bull market given some of the increasing credit contraction, the softening in Economic Indicators check out could this be the start of a new bull market as many are calling for . Jonathan i loved what scott cronin had to say. Clearly we were chasing the tape. Growing conviction in years earnings acceleration is a key point of differentiation. He is looking for earnings to accelerate into 2024. Lisa a key underpinning for a lot of these, more broadly, is that the softness will cause the fed to pivot. I
His exclusive details of his 100to raise an additional billion a year to balance the budget and offset those declining oil prices. Lets head straight to the market desk where julie hyman has some of the breaking economic numbers to start the day off. A little bit worse than expected. Julie i want to start with labor Market Conditions because they are we see a drop or a game with anticipated labor Market Conditions. That index is down 2. 1 . The estimate was a gain of 1. 5 . Thes are walkin watching labor market. Overallnumbers are down in line with the median estimate. If you exclude transportation, you get a drop of a tenths of 1 . That is larger than estimated and that is the seventh decline in the past eight months. Looking down, we have a decline of 3 in goods orders. Extra transportation, you have a 3 10 of a percent miss down. It looks like the numbers are slightly to the downside here. A slight downward bias is is what was estimated. This is coming on the heels of a comingk meas
After a poor first half due to poor weather and a weak yen. Fingers crossed, everybody, that today will be the end when we have to the end of time when we can stop talking about taper. Set taper gossip giving away to cold, hard facts when the feds twoday meeting concludes. The fass dak being up at a 15year peak on tuesday, u. S. Treasuries up for the fifth day in a row and the nikkei up on an eightweek high. Investors appeared calm by the prospects of a modest scale back of stimulus. But what if recent data turns paper light into paper zero . Get a look at some of the estimates for more. Cnbc. Com. Right now for more we have our own inhouse expert here in london. Karen has all the details. These are the estimates to how much the fed will taper. We have got first up let me run you through the numbers. Warptants expect 14. 5 billion to be taken off the table, up absolutely from the Previous Survey which averaged just over 12 billion. The poll of Top Economists said reduction, which is ex