Plus. Theres a lot of potential here. Tony zhang points out why now could be a good time to dig into c caterpillar. And Professor Mike khouw is running through dueling options exercises on how to play nike going into next weeks earnings. If you already own the stock or not, you can just do it. Its time to risk less and make more options action starts right now. Welcome. I love doing this show, but ive got to take an issue with that deepvoiced guy. He says barrel of cheeseballs like its a bad thing. Really come on. Well, it has been a maybe not bad but tougher year for the consumer space the xlp Consumer Staples is up but just over 1 so its underperforming the Broader Market carter worth, a man who maybe has seen a barrel of cheese balls in his day, says there could be an even Bigger Consumer crackdown ahead. Carter, what are the charts telling you . A bunch of things going on. One thing to consider is that the dollar, which has been very, very weak, has started to stabilize. Second onl
Ginsburg made the political picture in washington significantly more complicated with some analysts saying the odds of another round of stimulus before the election falling sharply. Bank stocks are getting crushed today as well amid new report about major firms dealing in suspicious funds well have more on that in just a bit. We have 59 munz left left to goy volatile session still make for the worst day in a while. Percentage terms, were down 2. 2 as we stand ahead will be all over the selloff in the final hour of trade. Billionaire investor Mike Novogratz will join us with his take on todays plunge and whether he is buying any of the dips after three straight lease losing weeks and well speak with john kerry in an exclusive interview. Well get his take on the Supreme Court, on stimulus, on the election and that final month run in of campaigning which, of course, he knows so much about lets focus in on the big stories were watching on a very busy day of news mike san toll toli is track
Forward is likely at an end. A few charts the first of several. The first, here is the xlp youll see they have a small head and shoulders top formed in this particular chart. If you look at the next chart, ive kept the head and shoulders top and also included the trend line in effect since the march low. We have two circumstances. We have a reversal formation, a head and shoulders top and we have a break of the trend thats been in effect since the march low. Third chart, another way to consider the facts, this is now a line across the top connecting the january and february peak prepandemic what we know is the xlp did break out, but now its fallen back below the level from which it broke out take a look at one more chart. This is the head and shoulders top in relation to the line drawn along the pandemic peak before the selloff anyway you slice it and dice it, we have distribution and it looks like theres more to go. Two more things. Take a look at this table. One thing we know about t
Now. New data points to a sluggish economic recovery as payroll, points in the beige book shows a modest increase in activity. 59 minutes until the close were set to have another record highs for s p and nasdaq up 1. 2 on s p 500, sara its utilities leading the way higher for a change. Coming up on todays show, Galaxy Digital back to weigh in on the rally as it carries over into september were going to ask where hes putting money to work right now. Weve got an interesting mix of earnings coming your way after the bell, including work from home like cloud strike, those are hot, hot Cloud Companies Apparel Company pvh and well talk to manny tirico, calvin klein and Tommy Hilfiger mike santoli tracking Market Action as always Steve Liesman with new highlights from the feds beige book joining us to talk tesla and pullback were seeing is craig irwin from roth capital. Mike, start us off with the market every group is higher except for energy you do have utilities and real estate and health
Anthropologists erin fox. Fox writes, Country Music is widely disparaged in racialized terms and assertions of its essential ban is are frequently framed and specifically racial terms. For many cosmopolitan americans, especially, country is bad music precisely because it is widely understood to signify an explicit claim to whiteness. Not as an unmarked neutral condition of lacking or trying to shed race, but as a mark for a grounded claim of cultural identity, bad whiteness, and redeemed by ethnicity. Folklore ache authenticity, a league musical culture. I want us to think about that. Country music as articulating and conveying this type of very marked white particularly. All right, so that is the first quote. The second is from the writer and historian roxanne dumb bar ortiz in her book red dirt. It is a great memoir of growing up in oklahoma. She writes, Country Music, evangelism, romanticism, patriotism and White Supremacy have been able to coalesce my people, the descendants of the