New week, jim, with the focus once again on a resurgence of cases in certain parts of the country for the virus. Concerns about china, as well. And then the overall as we, of course, know, expectations regarding the economy and what the impact may or may not be as a result of what i just mentioned. Well, i think that its always surprising to me as someone who i think lived through it like you do that people in some of these states did realize the level of contagion. I mean, this is one when youre in the room with someone who has it, youre going to get it if you touch someone who has it, youre going to get it i dont know, did people feel they were immune i think there was a sense that maybe new york was isolated. I dont think this will be like new york because i think they learned how to treat people. So, i think the big scare of the hospitals being overloaded will only be perhaps some i mean, we had a war zone here in new york. I dont think that will happen there. The chinese situation
To go in february. Jim dow has been in another big ring 600 points today the worst week shaping up since 08. You told us yesterday stocks were going to go down another 3 right on the money what happens now let me be careful, scott. I dont want to pretend that i can tell you whats going to happen today or tomorrow but you asked a question and ill answer it i think this is going to be like a typical correction where we bounce along for a couple of weeks then people real the Profit Growth picture is still in tact. Economic expansion is still in tact and Interest Rates at the tenyear is at 3 . Yes, its higher, but thats not nosebleed territory. So youre correct. We talked yesterday that i had sold stocks last week. Im taking a stand today putting a stake in the ground and b ive nibbled at one of my favorite companies, gbx. Added 2 to the portfolio. Not saying this is the bottom. Not what im saying. Im saying i liked it a month ago and now, its 12 off. Over the next two week, ill be lagging
Well see if the fed numbers have any effect. In our road map this morning. Tesla slapped with a downgrade on valuation. Well hear about the companys future from the ceo. Microsoft set to cut more jobs. And apple watch sales plunge 90 . Well run through some of those numbers. First, futures are up sharply. Steps by chinese officials to stabilize markets and restore Investor Confidence failing to start the slide. A lot of the trading, brokerages people are obviously upset. Companies are being asked to buy their own shares in the national interest. Its getting interesting. I think that its terrible. I think that i want to be really clear about this because panic is a bad, not a strategy. Someone was saying on twitter, is it a falling knife . This is 100 signwayteinways coming at you. And this market is a little bit bigger than we thought. Its only 40 of the gdp but there are some horrifying statistics and these numbers are all phony. 74 of the stocks arent even trading. You cant get out o
The trump rally, stock futures pointing to a slightly lower open after the dow extended that win streak to 11, but are markets in bubble territory . Of course buffett ways in. And obamacare in the spotlight. President trump is set to discuss how to replace the law during a busy morning of meetings with the nations governors and Health Insurance executives. And former ebay ceo taking up a new job this time in the cloud. Hell join us live. Futures mostly flat though with the dow coming off an 11day win streak for the First Time Since 92. Speaking this morning with squawk box in that threehour special, Berkshire Hathaways buffett weighs in on the price of stocks and if in fact were in a bubble. Measured against Interest Rates stocks actually are on the cheap side compared to historic valuations. But the risk always is that Interest Rates go up a lot and that brings stocks down. But i would say this, if a tenyear stays at 2. 30 and would stay there for ten years, you wouldnt regret very mu
Thoughtful about, but i benefit massively from our benefit team. You cant do anything alone. That continues to prove out every single every single industry and every single role. I just have the best teams on the planet. Meantime, match group over at the nasdaq today going public. Shares in the green as well. About 13 gain after pricing at the low end of the range. With more on square, lets bring back swrak steinberg and a cnbc contributor. A net positive for the tech community, for the ipo community. Yeah, i think when you see the two ipos in concert, both 3 billion dpz companies, both trading at Single Digits of revenue, this is the new norm. Most companies will now adjust the private rounds. I think the given where these two were at, they both kind of thread the needle and made the best of the situation. Its interesting, though, to hear the anecdote from behind the scenes, how they not the book, what investors were saying, john. Sources were telling me that it was really the mutual