Brown, pete nigerian on the phone, erin browne. First, lets check out the markets to see where we stand this hour as the busiest week of earnings season starts to ramp up the dow up just 28 points. Nearly 400 point gains the s p just marginally to the downside the nasdaq up nearly one full percent at this point. 8657 there a key focus for many traders up about 1. 25 at this stage its great to see you i guess i would start by saying the s p 500 is now down 11 year to date. The recovery has not been anywhere near as robust for the median stock as it has been for the gigantic stock in week is what i call the playoffs of earning season the most important stocks to the overall direction of the s p or reporting. You know the names microsoft, facebook, google, et cetera those are really the stocks that i think matter most directionally. This could be a very interesting week its not all bad yesterday was a massive day. Thats what youd want to see. It happened. The iwm had a 4 3rs day. Not much
Record highs were only ten days ago. I continue the watch bond yields as yields sink so do stocks. As yields come off their lows stocks follow. What are you watching. When you look at internals, technicals, he is with aed on every measure of being shortterm oversold we had already checked those boxing going into today then today thing got worse it was a lesson for investors and traders that oversold doesnt mean the coast is clear. You can always get more oversold what is interesting right now, the s p at its low today down more than 10 . In five days thats only happened four times in history, 2011, 2015, and during the. Com bubble and burst and during the great financial crisis this is very extreme activity. On that point, to your point, bespoke today points out, to understand the magnitude of the drop and the swiftness in which we have seen it if the s p 500 today closes below 3,547. 53 today, tomorrow, or monday, it will be the fastest 10 decline from the alltime high from the s p 50
Facebook, is there still too much risk in the stock and differ devidend darling. Ten stocks making big gains. The Halftime Report starts right now. Welcome, good to have you with us on this thursday our vichlt committee, joe turn know, Jim Leventhal and pimco portfolio manager. Nice to have you back. Lets start with the selloff of stocks, it was the worst day for the s p. Chicago pmi number going cold water on things may be bottoming. Josh, about to come in today, apple good, facebook good, earnings pretty good wow that pm movement, 43. 3 versus an estimate of 48. 5, the worst since 15. Are we reassessing now once again . No, because we had a rate cut yesterday. Well it may pause now the s p 500 hit an alltime high yesterday its down marginally today if the stock market went a point a day, no matter what, wed number a bubble. So we backfill perfectly natural. I think there are those that hit prior levels one could be the kre, regional banks down today double sfs on the session. They ju
Month. Is a major rebound ahead the Investment Committee is ready to go. Halftime report starts right now. Its great to have you with us on our monday. Our Investment Committee today. Stocks with nice gains capping off a nice quarter. The dow and s p on track for a Third Straight quarter of gains. Nasdaq facing backtoback of losses. Do you use the Third Quarter play book going into the Fourth Quarter . The Third Quarter was clearly uneven. Its much different than the first and second quarter. A lot of people im talking to are unfortunately reflecting back to the Third Quarter of 2018 saying the Third Quarter of 2018 i had a nice strong lead in the s p and i lost it all in the Fourth Quarter. I think the market is concerned about having the same type of kaevt in the Fourth Quarter of 2019. You can suggest that that lends itself from a sentiment standpoint favorably for the Fourth Quarter and it very well might be. I still think the right approach is the approach where youre fully divers
Going down. Look, i have the i have a list in my hands, like senator mccarthy of 54 known stocks in the s p and how they would do inverted the top 20 ive been working on. Three are hurt 17 that win. If everybody decides that theyre going to pay less for every stock because of this, all lose the algorithms are set to make sure all these use our economy is not as uniquely sensitive. These are not exporters that need to have a dollar weaker dollar is just getting stronger. Extraordinary rally in the dollar dont want to see it i struggle to reach a conclusion that this is all bad given the fact that germany had rates for some time and the market is not doing that badly, even though they have an export economy and their dax, real terms, is up even though theyre exporting right to china in and those sales are weak as we see the numbers from china it is not the end of the world or the German Market would be down. No one is asking if it is the end of the world if it is the end of the cycle, ri