Im sara eisen look at whens driving the action higher. A thaw in the trade war again. U. S. And china resuming tariff negotiations in october. Strong Economic Data helping ease some recession fears and the s p moving back above the 50day moving average. Key technical level. Tech stocks are leading the rally. Two big interviews coming up on closing bell. Box Ceo Aaron Levie and with Consumer Staples near alltime highs kimberlyclark ceo michael hsu will join us see both interviews only right here on closing bell. Joining us for the entire final hour of trade is stephanie link. Welcome back, stephanie. Thank you. So are you a buyer on this trade rally . I bought a couple things today. I added to a few positions, nothing new, nothing big, but i think the debate will continue are we going into a recession or seeing Slower Growth i have been saying i think Slower Growth mode and a lot of that because the consumer has been quite strong. I know a lot of people talking about that i spent this w
2. 25. And oil, as you see, still below 50. A move made this week as we watched the commodity complex come down across the board. The road map starts with amazon overtaking walmart in market cap after reporting a surprise Second Quarter profit. The shares up 20 in the premarket. Star bucks shares also higher ahead of the open. The coo told jim last night. And anthem agrees to buy cigna. The price and the release is 188 a share. In reality, its a bit less than that. Well get to that deal. We begin with amazon reporting a Second Quarter profit of 0. 19 a share while wall street was expecting a 0. 14 a share loss. Sales up 20 . That was up by strength in web services. Shares of amazon surging in the premarket putting the market cap above that of walmart and making founder and the ceo about 7 billion richer. Thats right. 7 billion more just from the move up. Thats a side show. The main show is the numbers themselves. This Company Getting rewarded perhaps like no other for Revenue Growth. M
The companys outlook misses analysts views. Shares of the chinese internet nosediving after hours. Twitter, the temporary Ceo Jack Dorsey under pressure as user growth could fall short again. It was an ugly day on wall street yesterday with the dow, s p, and nasdaq ending lower, a lot of it having to cowith mixed earnings. Keep in mind of the companies who have reported earnings, 76 have reported its above the mean estimate. Taking a look at futures, were in for a potential rebound. The dow up about 17 points in premarket trade. If you take a look at the u. S. Close, yes, i as i just told you stocks ending lower on monday. The dow jones at 17,440. The s p 500 dipping below its twoday moving average. Not a great sign for technicals about 0. 6 and the dmakz which has been powered by four main stocks, some of those momentum and high Growth Stocks coming off their high os testify day including social media and twitter, losing 2. 3 . We saw the nasdaq moving lower by around 1 . Ale though s
Already. I have enough people begging me for negatives. Dow gaining 20 points, s p rising 1. 2 , nasdaq advances. 0 i feel like i got to lay out some worries and woas. Now told you how erin tweets dysfunction tax policy, the rocket man create a hideous back drop at any moment something yelling out of contractor like Interest Rates and rock step that will be a real blow to the bull cause. But those are all big think issues kind of thing that drives me a little crazy steams me because its total thumb sucker journalist since were casting it requires nothing thats out or even like homework, im letting the others naval gaze im covering my with a tie my daughter got me, and a tshirt underneath if there was one thing i learned at Goldman Sachs is you have to preserve your dress shirt with a tshirt. Now youve learned something from today little different than what you came for its always worth considering things from the bearish point of view i want to play definitelys advocate that hits the r
Stock performance and Revenue Growth. Vonnie markets close in two hours, so lets go straight to the market desk. Vonnie we are still in the red shery we are still in the red right now. We are plunging into the red. The dow jones down 0. 4 , s p down zero point 25 . The nasdaq, though, seeing gains come up 0. 1 . Lot to do with what is happening in oil. Function on the bloomberg and you can see the energy sector, one of those leading the declines, down 1. 2 . Crude right now trading at 45 a barrel. If you take a look at the s p 500 intraday, you can see that we started declining as soon as crude started falling in todays session, so we are now down 0. 2 . Take a look at what crude has been doing. We have Government Data now, showing u. S. Crude inventories dropped less than expected. Inde down 4. 5 , a big plunge trading, at around 45 a barrel. That report from the Energy Administration showing crude stockpiles declined by 2. 2 million barrels, not as much as expected. Vonnie so what ar