Weak in the session. Joining us is josh brown welcome back. Good to be here are you also in celebration mode after jay powell . Im also in celebration mode. We got all but a promise of a rate cut i think in july. Theyre going to do it. I said earlier, he foamed the runway for what ithink the market knew he was going to do the thing is, i dont think its necessary, but i also dont think its harmful a 25 basis point rate cut most likely, the best example of Something Like this, that i can think of from recent history is 1995 you had a new alltime high in the stock market the day they did the cut, but it was a single cut. And a lot of the reason for that, they had done a surprise rate hike in 1994, which kind of crushed the bond market, people were shocked i think what the 1995 single cut was about was taking some of the pressure off from that, maybe also like a mea culpa, we didnt need to do that that maybe thats what this is most like, and it would be likely we make a new stock market hi
A lot of people think when you and becky and andrew are here thats Stranger Things. Thats very true. How quickly can we show mack. Are we going to do this now at the top the guys that are here wear black and i asked him, magnum p. I. But you finally just rebelled you finally said f it, im sick of the black stuff and im coming in and i like it myself. I like the palms on it. I tried to picture myself in that and thats when i started getting uncomfortable for everyone for everyone involved but it is friday. It is friday. Can you tell . Is that what it is . Casual friday or something its a good look. Man, oh, man. I asked you if you noticed and you said i have eyes, dont i . Lets get to the markets because it was a record close pretty much across the board the dow rallied 227 points to close about 27,000 for the first time ever. Stocks got a boost from the signal that the rate cut could be becoming this month and a year and a half since the dow sit 23,000 the best performing dow stocks ha
Taking to twitter to slam the currency and Facebooks Libra in the process and the president is not alone. The billionaire investor mark cuban citing with trump calling Facebooks Libra a big mistake its friday july 12th and Worldwide Exchange begins right now. This is a live shot right here on your screen. Tropical storm barry hovering off the coast of new orleans the city has already seen record rainfall in recent weeks and the storm could make landfall as soon as saturday well have the latest coming up. This is a serious threat but first lets take a look at whats going on in the markets 27,000 and beyond. Get your rally caps a record rally underway on wall street. The dow closing above that milestone 27,000 for the First Time Ever. Taking a look at futures right now, dow jones is poised to open by 85 points higher and the nasdaq indicating a higher open by 23 points take a look at the bond market of course we watch this very closely also as a proxy for what the market is thinking abou
Data out this morning was up slightly joining us for the entire hour is from ariel investments, pushing back against the earnings theme youre feeling good . Id say im better than the market is feeling. I think the market is looking for soft earnings, maybe 3 decline in earnings. Were hoping that we might get a positive number, but not as bad as the markets think lets drill down on all of the big stories. Lets start with you, bob. All three major indices at new highs. And let me show you, a nice group of Retail Stocks hitting new highs. Walmart, home depot, dow tjx, autozone. A small group of Consumer Staples breaking out to new highs. Proctor and gamble, colgate, starbucks a 52 week high for them the Payment Systems, mastercard, visa, visa the biggest gainer of the year up 36 . They have been on fire recently. Finally one last point, the vix down to 12 and change. This is sitting right near the lows for the year. Obviously august is a slower part of the year, but even so, a pretty low
There is more room to run. He will explain what is about to spark a major rally and how you can cash in. And oop, there it is thats right, options action fans the dream team is back mike khouw and guy adami will tell you the one tech stock they think is about to break out. It is time to risk less and make more the action begins right now. What it is all about lets get to it because netflix is on deck for earnings next week, the streaming giant is up 40 this year although most of the gains came in january. The stock is still 10 from its alltime high and the option market is implying a 6 move in either direction dan here thinks new highs are in play dan. Yes, but not right now. I will tell you why. It is one that is not a trade stock, it is not one that has, you know, adverse effects of, you know, strong dollar. For the most part, that sort of thing. But it is a stock that has a lot of unusually positive sentiment into it, we know that. A lot of investors have valuation concerns with thi