Continue to drive Growth Stocks are poised to rally ahead of what could be the feds first rate cut since the crisis. And gaming headwinds, amd delivering a revenue warning first up, apple rising on the better than expected results iphone down from a year ago and now represent less than half of quarterly revenue for the first time in about seven years. Yeah, headlines today in the papers are staggering. New york times, apple reports declining profits and stagnant growth again wall street journal quotes richard cramer, no relation. Were these people on the same call maybe they were on the rotten apple call, i was on the straight apple call. I heard a situation where you are going to if you actually think out in the out years, it is a Service Company with the best Customer Satisfaction there is and when you get an appliance of which there are about 1. 5 billion, you are beginning to take either apple cloud or the app store, the ads, i think that you will be looking at the credit card star
Chip stocks soaring as President Trump eases the ban on huaweis purchase of u. S. Products. Weak manufacturing and Construction Data keeping the gains in check today joining us for the hour to break down the Market Action is lindsey bell from cfra good to see you again. Good to be here. Feels like a market that had a lot of good news baked into it already. Yes it did. I was surprised we held on to the gains for as long as we did. I thought we would get a sell the news type of thing sooner. I think the weak Economic Data not only here in the u. S. , but also in europe and china, really gave the market what they wanted in the terms of the potential for a fed rate cut next month. One day phenomenon or does this selling have some staying power . You know, i got to say, i think it is going to be a little choppy through the month of july, especially as we get into earnings season. We see how tariffs are impacting companies on the ground. Yeah. It is interesting, youre going to get earnings s
and professor hubbard takes us through really what globalizations done in ripping apart american policy and politics and how to bring it back together and he points to really these wall things that have come up. i don t think he quite meant trump s border wall, but rather protectionism things to try to block ourselves off to try to restrict trade to restrict people s choice and on the other hand having to recognize that it s very disruptive when technology moves fast globalization moves fast and his his metaphor the bridge is we need to find ways to get people from one place to another we are not going to stop the world from changing. something that s you know, all too painfully a parent and the geopolitics today. i ve known plan for a very long time is a leading scholar in public finance and a number of other fields. he served with distinction and the council as head of the council of economic advisors in the in the early 2000s under president bush and has since been dean of
really lucky, my name is kyle connor and i am a former speechwriter. we are really happy to have a former another person who worked for president clinton was supposed to be here, had a conflict come up in d. c. we will tell you many stories as we can remember from him. we have heard a few. my hope is to use about half of this time to talk about the questions that i have for these two. we will spend other half taking any questions that you have. if there is one thing i hope you take away from this whole session it is that being a presidential speechwriter is exactly what you would think it would be like on the west wing. that is it. i am kidding, it is much more like veep. since this is the presidential ideas festival, i will start off with a question for these two on the relationship about ideas and speeches. sometimes what starts off as an idea ends up in a speech, sometimes the speech writing process starts before they have the idea. just curious, what do you think? what
Turn it off, please. Lets see what happened here this weekend. This is the first time this meeting took place without Charlie Munger being here. Before Warren Buffett took to the stage, this was a stage where there was a lot of emotion that came into this here with a standing ovation for charlie at the top. Roll that back down, please. A standing ovation for charlie right at the top of the meeting after a movie that played a halfhour movie, that played his highlights over the years and funny skits they had done and a standing ovation from 40,000 people who were here at the Convention Center. Pretty emotional day. Warren buffett made news. It came out when the companys 10 q hit. People were looking to see it and it trimmed stake in apple by 13 in the quarter. It sold about 116 million shares. A lot of questions as to why and what it means. Apple is still, by far, the largest stock in its portfolio. It makes up 40 of the overall portfolio. Buffett said he was selling because he wanted to