It means remains ever elusive. The options to have offshore drilling. This is as tensions remain high. The secretary secretary of state visits the united nations. Flexing muscles while having a major conflict. They can tell us what they can expect. They dont dampen the market. I am ashley webster. Lets begin the countdown. Breaking news for you. A very weak gdp. We are heading into the final hour. The month of gains we should say. They are up a little bit over one and half percent in april. As the fifth positive month in the past six. Rising 2. 3. Really has been about the big tech names. Check out alphabet up eight and a third . Here is where we are at the moment. They are down about 50 points. Also off just slightly. On the bright side more strong earnings reports this time from the energy sector. Both beating wall street expectations. They are also up about three quarters of a . Lets get back to the president. Another busy day for him. Wrapping up a speech before the National Rifle
Weakness this morning as we get set for the open tim cook wants to quote yell out and scream about ai. Well fill you in. And the king of snapchat just went platinum. Dj khaled is ringing the bell here first up, we mentioned the downgrade, how much of this is digestion of this new fed . Well, im the one to ask that thats a dj. Heres the deal. I think that the many people are ascribing way too much to the fed. I think the fed did business as usual. Theres a vicious rotation going on its a continuation of what we saw on friday. If you look at the last 20 minutes of trading yesterday you saw the repeat of what was friday which is a bang down of all the big hightech stocks and then money back in to retail and to finance i think why people were fooled it didnt go back into oil low tech health care, also higher valuation health care you watch celgene and biotech. Watch Illinois Tool Works which is a great tell for the industrial you can watch jpmorgan, you can watch the trading of wells fargo
Facebook, the amazon, the netflix and google, now alphabet i get that, too. Theyre whats called a crowded trade meaning anyone whos anyone seems to own them, right . On a day where the averages meander with the dow dipping 15 points, s p backsliding 1. 2 and the tech domain that is the nasdaq declining for 4. 7 , you know what, it might be worth remembering why we used to like tech in the first place and why despite what you see and hear maybe you shouldnt give up on it so easily as so many are doing right now. Let me give you some context despite the fact that so many people are worried about the valuations of Technology Stocks the house of pain you need to look at what else is out there to see why tech is maybe a little more special than you think. Why dont we start with nike i love the company thats nike i shot clock shoe dog, the autobiography of the person who founded nike is unbelievable its an unbelievable story how a Little Company from the great state of oregon took on all the
Points, nasdaq moll vaulted 1. 34. The eiffel tower we see from lower manhattan, not the sach you of liberty. Lets get serious about what it all means, the first is that the u. S. Has enough entanglements in europe. But the french its no wonder we felt some of that love across the atlantic. Its fair to ask, though, is there any real linkage . Absolutely. If both the candidates had made to the runoff including marine le pen. There would have been a flight out of treasuries and over to bonds. Lower rates automatically triggers selling in stocks. Further, the dollar would have gone way up on increased demand for a steadier currency, rather than a shaky euro, something that would have hurt our international companies, the ones who are based here but sell ther because a weak euro makes for a terrible transition back into dollars. Instead we have a centrist, emanuel her chron. Otherwise the principle positive for our stock market came from hedge funds betting against u. S. Stocks because the
Boyd, last week we saw hundred shin, mulvaney, cohn all on the same sheet. They said forget about the cb storks scoring and forget about debts and deficits. If we do this right well generate an extra 2 trillion in the economy and lets get the ball rolling. It will be a tough sell to a lot of consequences to say we have to make sure well pay for this thing and not just add to the deficit. I think the biggest part of i it is selling this this to the American People that this is not about Corporate Taxes but the benefits to hardworking americans that will benefit from lower prices on goods and services and they can get a better return for their retirement. They have to have a messaging strategy as robust as as the t strategy pgram they are trying to put forward. Charles it will be called trickle down economics and the rich getting richer at the expense of the little guy. The only way to kickstart this economy is tax reform. The democrats are not interested in tax reform and putting people