On earth the trade war with china could cost a lot of money. Dow dipping 17 points. We focus on the rode hot ipo of chewy. Yes the digital pet supply store more on that one later what you need to know now is that were in a weird moment waiting, waiting, waiting, waiting for the fed to speak, wednesdays business then whether they believe we need a rate cut. Were waiting for the g20 meeting where maybe trump and shooe c sho xi on monday United Technologies gives you a briefing from the Paris Air Show and you have to wonder, tell us a little more about this merger makes sense. As shareholders, fleeing from the stock since the news broke i think the deal is dewsing. I believe theres real work to the stock into a carrier company, elevator company. It looks fantastic raytheon i get they tell a darn good story. Tuesday, another one that gets knocked around all the time. Its his turn to talk. You should be suspicious of g. E. Hyping its own gross strategy here i think the ceo has been staying
A little bit. You were negative on oil. Its gone up. Are you staying negative or has something so fund mentally changed youre saying i was wrong, its go up . I was obviously wrong. Im not sure if ill stay wrong, though and weve come such a long way its hard to advice folks to get in here especially with, you know, some of the signs that i continue to see that undermine this rally, brian. Particularly last night, the chinese trade data was bad and i keep saying that part of the oil rally here for it to sustain itself needs to be a strong asia and a strong china in particular and were just not getting that. You were spectacularly right before. You were one of the few people in the really negative camp and you were right. You were right before you were wrong, how about that . Im not running for office so i can be wrong thank you for that. I got some beach front property in arizona im going to sell you, as well. What would be the most if you had to pull out one bullish case and one bearish
And im brian sullivan. Just three hours left in your trading week. Stocks are moving off their session lows, still we are in the red today. Dow down 65 points. The nasdaq and s p 500 also making slight losses. The biggest dow winner this week, the swoosh, nike up more than 4 . The biggest decliner, mcdonalds down 3 . Mcds now down nearly 8 over just the past 90 days, melissa. Brian, im melissa lee, heres what else is happening at this hour. Amtrak naming new ceo, previously served as chairman and ceo of norfolk southern. Crude oil pulling back slightly but still sitting in a bull market. Its up about 85 from this years lows. And team usa continues to dominate at the rio games with 100 medals in total. 35 of them are in fact gold. Weve got lots to get to today, but we kick things off with a developing story in the pharma world. Shares of mylon labs as the Company Increases the price of epipen drug fivefold. Bring in david from wells fargo. Thank you for being with us. Thank you. Weve se
And nasdaq all higher. Were close to session highs. So with yesterdays big recovery and todays big rally, is a panic selling nearing an end . Joining us is paul hickey of bespoken investment group. Good to have you with us. What is your take on how this market feels at this point . Obviously an up day is welcome after several down days in a row. This market, the day to day moves are more fickle than a 4yearold. So we get big up moves, big down moves. So i wouldnt read too much into this right here at this point. It is just again, welcome, we have been getting killed all week. Still down for the week. Yes, still down for the week and still down considerably on the year, no matter how many no matter what measure you look at. What signs are you looking for that would mean we have hit bottom . Anything that rings the bell for you . I wouldnt say there is any necessarily bellringer, but, you know, some of the if you want to look for encouraging signs now, you have sentiment measures are ver
You, but educate, teach and coach, so call me or of course tweet me jimkramer. Yeah San Francisco opened its golden gate to us but as exciting as it is to be out here for a special week of shows, unfortunately the market didnt seem to care one whit that we were out here to celebrate the opening of cnbcs brandnew San Francisco bureau. Instead it decided to shoot some of our favorite leaders, especially domestically based companies, and lap up the down and dirty names that have been studiusly avoided for almost the entire year. Thats why the dow ultimately dipped, the s p declined and the nasdaq lost 0. 63 . The question is do we merely have a contrary day on our hands . Or is this some sort of new setup setup. Are we gripped with some sort of sea change . Or is this the same sucker rally in the beaten down commodity stocks that we have seen time and again after theyve been pushed down to the point where they can spring back regardless of the underlying fundamentals we scratch our heads