But a different story for amd. Both stocks on fire this year. How to trade them from here. The Halftime Report starts right now. Welcome to halftime good to have you with us on this wednesday. Our Investment Committee today, joe terranova, Jim Leventhal allianz Global Investment strategist we begin with the countdown to the fed today. Thats what everybody is talking about including Steve Liesman who is in d. C. Following the money for us i guess its pretty much a foregone conclusion on a cut i think thats right, scott i think there are some questions as to whether or not the Federal Reserve also were to end its Balance Sheet reduction. Supposed to do so in september a lot of talk on the street that maybe they do that today along with cutting rates doesnt really make sense to be tightening up financial conditions through reducing the Balance Sheet along with cutting Interest Rates and also, i see a big question about the guidance worth taking a look one last time at where the market pos
Trading on wall street. John . Reporter President Trump News Conference was wild and wide ranging. He railed against his press coverage. Said military action might boost his popularity and insisted the rollout of his travel ban was perfect until a bad Court Decision stopped it. Overall donald trump said his white house is running like a finetuned machine pointing to behind the scenes progress on cutting taxes and replacing obamacare. So we begun preparing to repeal and replace obamacare and are deep in the midst of negotiations on a very historic tax reform to bring our jobs back, to bring our jobs back to this country big league. But the president also acknowledged the heat hes feeling from a series of controversies most notably investigations into interactions with russia that are among other things resulted in his firing his National Security adviser Michael Flynn this week. The president said he wasnt aware of any contacts between his campaign and russian intelligence but conceded
Has been tougher for the markets to define that. We are back in the green again for the s p 500. The dow and the nasdaq remained lower. We are seeing a mixed picture. Look, defensive groups have taken over the top spots here. Health care, typically, that reflects some trepidation about Economic Growth when you see that kind of pattern. Doingre cyclical groups worse today, Consumer Discretionary on the list. There has been a little bouncing around even among the groups on the session. He does individual movers heavily weighted. Apple and disney. Apple, as we have been talking about, following a report from the nikkei. That the company was covering production of its iphone 6 over the next three months by as much as 30 . Are saying now that star wars is out and people do not have that to look forward to anymore, the focus returns to espn and some of the other weaknesses disney see has been experiencing. Low. oil is still trading julie an interesting trade yesterday. Tensions going higher
We await the word from the European Central bank tomorrow. Thats going to be very interesting. Yes, well get to more on that in a second. What all the Central Banks are up to. Oil rebounding but that didnt stop canada from cutting its key Interest Rate north of the border and they did that because of how the dramatic fall in oil prices is rippling through the nations economy. Well get into that a lot more with to do ameritrades ceo fred tomczyk is back with us. They had good looking earnings. They had record asset accumulation by their clients in the last quarter. What are they doing with that money, thats the question, what their clients are doing with that money. And this is not a technical glitch. Look at netflix, you talked about this last night. They had blowout earnings. It is up 17 , about a 60 gain after those earnings the explosive growth first reported on the closing bell yesterday. We will follow that stock into the close and at least one of our guests says you can still buy