Points, s p dipped 0. 35 , nasdaq climbed 0. 30 we have to wonder if amazon would be responsible for some of the real damage. Its come down 125 points from its high amazon stock off another 8. 95, led us lower today it is the general sell sell sell. To the sell side. This one keeps standing out. Standing out among the weakest i can see the bear case unfolding. A month ago, amazon seemed invincible, didnt it . The other day, the former ceo of home depot gave an interview with called amazon the dark star of retail. He said Everyone Needs a strategy to deal with alexa, because lexa may be driving business to amazon instead of the competition. Now we learned today that walmart has teamed up with google on its home assistant thats competing with alexa. You could probably ask her to book a vacation somewhere and she would know where you would want to stay from what she has in the past, she could do it better than you could and less time alexa knows everything about you. I wish i had her help
Concerns about potential Government Shutdown. Europe is green. Got a spike in shortterm rate which is were watching as well. The road map begins with president and the administration generating some more uncertainty. Well take a look at tim pact on the market ahead of major global bankers. Big game retailers on the move after earnings well look at whats hot today and amazon clearing two major hurdles. What it means for the industry in the past hour the president tweeted i requested that mitch m. And paul r. Tie the debt ceiling legislation into the va bill that just passed for easy approval they didnt do it so now we have dems holding them up as usual. Could have been so easy. Now a mess speaker ryan will be on cnbc this afternoon at 1 00 eastern the point there was to be on the air at boeing its not going to happen today. No, this is going to be to me a celebration of capitalism and boeing is our greatest fact r to and instead of celebrating business and therefore talking about tax re
And the nasdaq pole volting 9. 5 , it was the fang stocks that led the charge higher. Yeah, facebook Amazon Google and now alpha bet. Weve got a marvel there is still one more rotation going on. This time back into the nasdaq. What gives . How did these stocks suddenly get their groove back . First as we put out last week tech never really goes out of style. If its really good it just simmers and waits and then pounces. This is an ageold pattern yi urged to you buy these tech stocks while they were down rather than abandoning them. How is it that this doesnt always seem to work. For one thing these fang stocks truly have no flies in them. They have a good story to tell. When we have a major move into the industrials and they are stretched as they have been these uber tech stocks dont seem as expensive as the rest of the market. Take facebook. We know we need to analyze this stock based on what we call the out years. By some estimates facebook is trading at a slight premium to the avera
100,000 new fulltime, fullbenefit jobs in the next 18 months all over the country. While the averages were down with the dow sinking 63 points, s p 0. 21 , nasdaq backsliding 0. 29 . Its been ages since weve seen that down. Amazon stock screamed higher, closing up 14 points to 813. Thats just like how stocks used to react on news of hiring, on expansion, before the recent age of stagnation, derision, and gridlock. Let me explain. Ever since growth slowed, i mean really slowed and the u. S. Became episodic in its ability to expand the economy, we desired a particular set of traits, a set of rewards so to speak from our stocks before we bought them. First we would look and wed want a good dividend, one that gave us a nice return versus the competition, namely treasury bonds. Second, we wanted a large and meaningful Share Buyback to shrink the share cap, and thus artificially or not increase the earnings per share. We cared more about this than actual Revenue Growth because what Revenue G
To brexit, we are joined by anna edwards in london. Two significant pieces of news. One really against the government and scotland and Northern Ireland will not get a say on the process. A this is a 97 page judgment handed down by the Supreme Court here in the u. K. Around 2. 5 hours ago. 97 pages here. The government will be trying to put something short and sweet in front of the u. K. Parliament. The lost their appeal at Supreme Court which means they have to put a bid in front of parliament. They will try to make it short so there is as little to object. O as possible heard from various parties in the houses of parliament that they will be looking to introduce amendments. That will delay the process. I just caught up with hillary from the labor party opposition. The timetable is still possible. That is what this is all about now. The timing and the softness and hardness of exit. Brexit. How many of the amendments will be able to influence just kind of brexit we get . The parliament