On well see how it goes. Its been a brutal stretch of selling. Apple under 170, meta plunging nvidia threatening to close below 400. Microsoft not even able to get much going more broadly, yes, we are watching the s p 500 it closed below that key 4200 level yesterday. You take a look here, its moving further away. Health care energy among the weakest sector whether were only lets ask dave greenhouse, and Big Technologies alex canterwitz both are with me on set. Gentlemen, good to see you dan, you first the trade has not been good. What do you think of the market . Listen, ill leave the techspecific to alex, but i think the meta report looked fine some of the other records, microsoft good, not bad at all, but its an important environment for a number of reasons. You have the two wars, the budget in congress, obviously Interest Rates doing what theyre doing, so im not surprised that good enough is not good enough. The reed today was pretty good but, you know, they looks like they may be
Tomorrow night and apple making a nice move today as well. So were going to get to all of that. I do want to begin with you, josh, because you have interesting new moves that you have made in this market, and the first one is you bought corning. Glw, trading right around a 52week high. I dont know, pennies away from that. On pace for its seventh straight day of gains. Amidst this momentum, why are you buying it now . So it might be a little bit short term overbought, but this is the type of tactical situation that viewers of the show know that im personally looking for. Im looking for really Good Companies that are at some sort of an Inflection Point where the buyers are overwhelming the sellers, and thats exactly whats happening here. This is one of the Oldest Companies in america, 170 years of innovation. Theyre in all sorts of verticals, life sciences, mobile phone and computer displays, specialty materials. But the real driver here, judge, is optical fiber. If people were around du
It was above five a little bit ago. Liz young, a huge week. Obviously mega caps will be front and center, but the moving yields will have maybe the most outsized impact on where stocks go because of what we are witnessing today, yields up and stocks down, and yields go on and stocks come off. Is it that simple . I dont think its simple at all. Is it sending a bullish or bearish signal. Its down to the narrowest level, down to 12 basis points today, and back to 26 now. Thats a small level. Its not the yield curve that causes a recession, right . The yield curb doesnt do anything, and its really what expectations are for the economy. At some point i think the twoyear will start to come down, which will then send a more decidedly negative signal of what might be more to come. We have had this big move in rates, and whether yields are topping out. Now, i dont know how closely you watched tick by tick of the market until show time today, and it appears to us and others that i spoke to, and
Fresh knew cycle high. Stocks were selling off until late morning when Hedge Fund Manager bill ackman, yields they quickly fell, stocks quickly recovered, the nasdaq today, the big outperformer, mega cap stocks took off. Take a look at the nasdaq up near 1 . That coming ahead of their earnings, which begin tomorrow with microsoft and alphabet, takes us to our talk of the tape. What if we really have seen the top in rates just as tech earnings are about to roll in. Could it be enough to get stocks back on track towards a year end rally . Lets ask jpmorgans Global Investment strategist with me here at post 9. Good to see you too scott. It is an interesting market move. What do you make of it. When we saw rates almost touch that 5 mark, they were basically at a buy at 4 , but 5 just becomes that point where you got to lean in now, and so, you know, hearing that Institutional Investors are starting to lean in at duration, it only makes sense in the rest of the market to start to make that
Angen soaring and comments on its version of an obesity drug, and apple hires and focuses on that record buyback. Is the Company Using 110 billion to wallpaper over some weakness or were the results not as bad as feared . Steve covac covering apple for us from sfans. Hey, steve. So look. Last quarter revenue was down 4 , iphone sales down 10 , but no one really seems to care because apple gave its shareholders the biggest stock buyback in corporate history. Thats 110 billion, increased the dividend, 4 to 0. 25 and went towards modest growth which was expected as some have been trimming their estimates. China sales were down 12 , and in an interview yesterday, i was told iphone sales in Mainland China grew. Thats countering the narrative we have been hearing over the last few months. I also asked cook about his recent visit to china just a few weeks ago. He told me, quote, i feel great that in an extraordinary, competitive environment, that we grew iphone sales in Mainland China last qu