What your technology does. It only matter who uses it, whos the customer thats what i keep thinking. Today another sedate session, s p inched up. Nasdaq. 04 need a microscope here we keep learning this same lesson about technology over and over and over again in this elongated earnings season, and its pretty jarring, because normally we care about what technologies actually does, if its helpful, if it increases speed or accuracy or power or productivity, well, it tends to be a suchls. Buy, buy, buy if its clunky and dead on arrival sell, sell, sell not these days, though. These days wall street only cares about who your customers are. Good, bad, as long as youve got the right end markets, your stock is going to be worded. Lets use roku, okay, and cisco. Roku sells to the consumer, sells to you their Technology Helps you stream videos directly to your tv cisco is a networking company, a colossus that sells to what is known as the enterprise, giant complex companies that need to connect
Soaring 60 this year. And it just got a huge upgrade. Its our call of the day. The Investment Committee is ready to go. Halftime report starts right now. Good monday. Happy columbus day. Your Investment Committee today is joe, john, jenny harington, mr. Ron, cnbc contributor. And also with us is keith banks, bank of americas vice chairman, head of the Investment Solutions group. Welcome. Safe to say that the friday euphoria over a partial trade deal, socalled phase one may be fading fast. Our sources saying that china wants another round of talks before signing any kind of a deal phase one or otherwise. Secretary mnuchin saying he expects tariffs to go up in december if there is no deal in place with china by then. So guys, thats the big story. The markets doing well. Today not giving it back, but were not doing much. I know the bond markets closed. Take us out where you see things headed im not sure. If the market is not noes honest answer ever. Im under whelmed about the trade deal.
Today then rebounded in the afternoon. House of pleasure. Closing down 80 points. The s p losing. 42 . Nasdaq falling. 85 . I think what were seeing here is nothing more than a wholesale repricing of stocks. As investors try to bake in all sorts of contradictory possibilities. The repricing ebbs and flows and you see intraday rallies as people realize the businesses are actually pretty good and the stock market remains the best place to put your money. Thats what happens when stocks fall if only because every other asset class is so unattractive does this occur. Its not because this one is that beautiful still, i think we have to have more pain like we experienced this morning, which is why you need to understand what striving when the pain happens, youre not paralyzed, because were going to see it again and again. First, there is a whole camp of people who believes that our economy is headed into a recession. Probably sooner rather than later. How do i know this because at the worst m
Within reach stocks set for a higher open bullard still sounding the alarm for the economy and manufacturing. Apples moment of truth, the iphone 11 hits stores globally will it move the needle for investors . And washington versus big tech, Mark Zuckerberg meeting face to face with some of his harshest critics on capitol hill, including a surprise trip to the white house s p is aiming for a fourth straight day of gains as we wrap up the week. Volatility could be in the mix, given it is quad witching friday you got two fed president s making the case, rosengren thinks the fed should have held steady, bullard pushed for 50 basis points well see what clarida tells sara eisen in an hour. When you look at what u. S. Steel said yesterday, i know u. S. Steel isnt a big market cap what it said about the economy and steel case, very good, versus Herman Miller very good, Big Industrial just not doing well i think that it depends upon who you look at, like, i think bullard looks at everything. I
Worldwide exchange begins right now. Good morning, good afternoon, good evening from wherever in the world you are watching i am Brian Sullivan. Thanks for watching. The dow has had a great run. Up 10 of the past 11 sessions. Up nearly 3 september historically the worst month of the year. Not this year. The bond market has come up. We are seeing benchmark yield deals 1. 78 . In japan, we saw another rise in the nikkei, hang seng down around 1 . We are seeing green across the screen in european markets the Federal Reserve, cutting Interest Rates again by 25 basis points that means a quarterpoint rate cut. The fed increasingly divided on what to do with rates. Some members want to stop cutting rates, another wants deeper cuts. President trump writing, jay powell and the Federal Reserve fail again no guts, no sense, no vision a terrible communicator. Jay powell says, quote, i dont. I dont im not going to change my practice here today of not responding to comments or addressing comments ma