Famine market ive ever seen either the world is ending or everything is going to be just fine. House of pleasure no middle ground. Problem is, thats a terrible way to invest. Have to try to keep a level head, not too negative, not too positive thats how you handle days like today where the average is up and down, big before covering, not only gaining 158 points. S p climbing. 83 . The nasdaq jumping 1. 43 down so horribly, wow, let me break it down for you. This morning at 4 00 a. M. This market looks horrendous. Down a thousand points why . Nobody really knows. We heard it was because of covid spikes and outbreak in china i was watching the tape and it was all about the same, the big declines in royal caribbean, norwegian cruise, carnival, apache, united, continental, southwest, kohls, everything got crushed last week, everything that always trades before the market opens. Why dont we call them unusual suspects thats the new playbook for all the novice investors who crowded into the m
From Raymond James to get his quick take on the street Google Properties revenue, thaep thats the properties the company owns and operates, 19 to 28. 7 billion that was above what kessler was looking for. Operating expenses were higherx. Ruth porat said there were some unusual items and pointed out 545 million expense related to a legal settlement in france also called out some unrealized losses tied to certain venture investments, although she declined to say which ones switching gears a bit, i asked her about competition. We just heard from amazon. Their ad business is growing very strongly. I asked her how much of a threat she thought amazon was she thought the online ad market continues to grow and her point is it doesnt have to be one winner, its not winner take all. I asked her about wamo as well the team at Morgan Stanley cut their valuation by 40 in part because they said the industry is moving toward commercialization slower than expected i asked ruth porat whether commerciali
Whether jay powell will cut Interest Rates further. And big earnings on deck, disney and wynn after the bell joining us courtney. Tell us how youve navigated the last 24 hours. You know, its been really, really interesting when you look at where the vix has been in august, were hitting 25 i think in july we ended around 12 that volatility is incredibly interesting. For someone like me thats looking to buy positions on the dip that i think are quality positions to buy and hold, it was a really good time in my opinion to do that interestingly enough on our desk at Loop Capital Markets we saw a tremendous amount of low, probably in the overnight markets, probably the most active weve seen all year. Buying or selling interestingly enough, buying. Some very balanced program bus we also saw a number of our fundamental clients buying in developed markets and a little bit of selling or less buying, well say, in some of the emerging markets so were starting to see some of that flight to quality
Foreign policy and efforts for diplomacy. As always, we will take your calls, and you can join the conversation on facebook and twitter as well. Washington journal is next. Host good morning. It is monday, july 29. In the house has begun the annual august recess. The Senate Begins is in today. We begin with the latest on the twitter feud President Trump sparked over the weekend with Elijah Cummings of baltimore. After opponents but cried becried the attack as racist, his ownt trump racist attack this afternoon. Ive us a call, 2027488000 republicans, it is 2027488001. Independents, 2027488002. A special line for baltimore residents, 2027488003. You can also catch up with us on social media. On twitter it is cspanwj. On facebook it is facebook. Com cspan. A very good monday morning. You can call in now. We showed you the front page of the washington times. President trump sets off racism debate. Referring to the tweets saturday afternoon in which he called baltimore rat and rodent infest
Track . And a double downgrade for one stock. The Halftime Report begins right now. Welcome, good to have you with us. We have our Investment Committee at the table we begin with the markets, stocks higher following two days of system by jay powell who laid the ground work for a rate cut later this month the attention now turning to earnings which begin on monday i feel like weve got this halo effect from the fed that will last a while you sure do and it is interesting the market is taking a bit of a cyclical shift if you look at what is leading the market so far, it is energy, communication services, technology, consumer discretionary. So the defensive bochbd approximabond approximate is city m proxy mentality has moved away if the expectation is so low, everyone including myself saying, well, okay, here comes earnings it will probably be better than we expect and all the other perceived head winds weve pushed out of the way. It would be remarkable if earnings were not good powells ti