Road map begins with this trade stumble for stocks some lingering china trade concerns plus, ecommerce boom alibabas 24 hour shopping extravaganza breaks its single days record of more than 30 billion in sales and still climbing. And goldman facing an investigation over allegations of sexist credit decisions at app apple card stocks are set to open lower this morning on some dampened expectations surrounding u. S. China trade talks as well now as this escalating violence in hong kong meantime, the s p is in the midst of a five week win streak for the First Time Since march 6 if you look at the nasdaq. It has been a nice ride over the past month. It is so amazing because the some of the bigger runs are companies you would expect no trade deal, we would unravel a lot of the companies that do a lot of business in china it continues to happen one thing i would say is that people seem to care more about the fact that Interest Rates are going up than they care about what is going on in china
Facebook, is there still too much risk in the stock and differ devidend darling. Ten stocks making big gains. The Halftime Report starts right now. Welcome, good to have you with us on this thursday our vichlt committee, joe turn know, Jim Leventhal and pimco portfolio manager. Nice to have you back. Lets start with the selloff of stocks, it was the worst day for the s p. Chicago pmi number going cold water on things may be bottoming. Josh, about to come in today, apple good, facebook good, earnings pretty good wow that pm movement, 43. 3 versus an estimate of 48. 5, the worst since 15. Are we reassessing now once again . No, because we had a rate cut yesterday. Well it may pause now the s p 500 hit an alltime high yesterday its down marginally today if the stock market went a point a day, no matter what, wed number a bubble. So we backfill perfectly natural. I think there are those that hit prior levels one could be the kre, regional banks down today double sfs on the session. They ju
Charles schwab is expected to buy ameritrade jim as you noted on twitter, the unprecedented influence of robinhood. Yeah, look, when youre out here, you realize there are players. David talks about them a lot, including softbank, theyre fun organizations with no real growth path for earnings a fabulous growth path for revenues this robinhood has been an incredibly well funded sensation particularly among the younger demographic. Its very hard to fight a company that will you play for free and thats exactly what disrupted this industry was Venture Capital money. Think about it, its been a stable oligothic for a while. Why not surrender to schwab . This makes so much sense now schwab will be the largest asset gatherer, incredible machine. I this i schwabs store, we dont know the ratio, this deal done makes schwab go up a lot more than its up right now. David, lets talk about this deem we got some paypal news as well. Mna is getting a bit spicier as we get to year end yes this would be a
The Investment Committee is ready to go. Halftime report starts right now. Good to have you with us on this monday. Our Investment Committee, joe, josh, steve, jon, shannon is here, the chief Investment Officer at Boston Private Wealth begin with the markets stocks modestly lower. Now some key questions about whether there is enough momentum to carry stocks higher between now and the end of the year. Weiss, optimism is rising and has been and you can see it in a number of different ways, interest rate, 10year pushing 2 there are socalled unloved assets that have joined the rally according to some which is another bullish sign justified . Enough momentum to carry us higher i think there is. The seasonal trade is difficult to bet against, however i took off a little exposure and sold some of the smh. I kept adding to it and added through earnings, because i thought the semis would have good quarters and they did now that that fundamental part is over, im more in the Market Movement trade
Down by about six basis points. Time now for global exchange, where we bring you todays market moving news from all around the world, from hong kong to taipei, from london to new york and washington. Our bloomberg voices are on the ground with todays top stories. In hong kong, a Third Straight day of protests this rep to traffic across the city and shut down Public Schools for the first time. Chinese state media warned of consequences if the violence continues. Going to me on the phone from hong kong is karen leigh. Give us a sense of what is happening there. Karen i feel like i say this every time i talk to you now, but there is a bit of a new dimension here today. Schools were suspended for the first time during these protests. They will not be in session tomorrow. Some universities canceling classes for the month or even the semester. People start to realize that maybe this violence is going to go on longer than just these few days. We saw carrie lam say yesterday she wasnt going to