I want to rock and roll all night. And party every day. I want to rock and roll all night. And party every day. Cheryl welcome to fbn a. M. Good morning, im cheryl casone. Lauren happy friday. Good morning. Im lauren simonetti. Cheryl lets take a look at how your money is moving on this friday. The banks so far surprising to the upside, a little bit of pressure on the futures market. The dow is down 18, nasdaq is down 10. Well be hearing from American Express before the bell. Lauren in asia, the shanghai come pocomposite in china, down. Beijing reporting the worst Economic Growth since the 1990s. Cheryl all eyes on europe, with Boris Johnsons deal with the eu. The cac 40 is under pressure. The dax is slightly higher. Lauren we have a lot of geo politics in different poll e pos in different parts of the world. The fighting continues in Northern Syria where shelling and smoke can still be seen. Cheryl Griff Jenkins has more from washington with all the latest. Griff, good morning. Report
The Investment Committee is ready to go. Halftime report starts right now. Welcome. Good to have you with us. Our Investment Committee at the table today. Ka were going to get to this big day in the stock market in just a minute. First, lets get down to washington, the latest from our kala. Reporter we saw the chinese vice premiere exiting. It was a departure that was casual and cordial. It seems as if they were continuing a conversation out on to the steps of the office here after about three hours of negotiations this morning. The question that we have right now before that Oval Office Meeting with the president later today is what signoff is required from president xi at this point. We believe after dinner the chinese delegation was in touch with officials in china, sort of briefing them on what had transpired throughout the course of today. What we dont know is whether today was just a fleshing out of already agreed upon principles or whether there were new material developments th
Bank. Micron issues a trade warning. Shares down this morning on a disappointing outlook and ceo san yjay mehrota joins us in a e minutes. Tell the story. Im sorry to interrupt. No problem. Eagles won last night i can do whatever i want. And half of the debuts trading below their offer price. Does that spell trouble for the ipo market wells is up in the premarket after naming bank of melon Ceo Charlie Scharf he held the top job at visa. Wells plagued by scandals struggled to find a replacement. Alan parker will stay interim until scharf joins the company the Conference Call is under way and well bring you developments on that. He had quite a run at visa and left for geographic reasons really. Yes, he did able to stay in new york, his family still going to be with him. One daughter right there, another one close by, folks nearby, very much dedicated to them i got to tell you, congratulations, or as people would say, as president ford would say, their Long National nightmare is over. I t
Decade, peloton tracking lower thats straight ahead. Stephanie is back. Some encouraging signs on the economy particularly in housing. We talk about this endlessly about the consumer being strong, manufacturing being weak really benefiting from low Interest Rates home sales at a 32 month high. Thats impressive. The other thing is nasdaq is up. This is where the momentum is in our economy. People are wondersing about the consumer i think its a very good sign. I own dr horton, home depot, stanley, black and decker. Im in this trade for sure dr horton is the home builder. We were talking about valuations youre talking about 12 times earnings, one and a half times book value i think theres a lot of pent up demand especially if rates stay low. You have the whole new generation, millennials starting to buy more. S p and dow down 0. 1 russell and nasdaq down more lets go to the ipos we went to peloton wild week for Companies Looking to go public and some names have already recently hit the ma
Showing outperformance for second day running. Totally different market. That is the key thing. These results, it has a different feel than basically the entire year until now. Up until that was all tack and all defense. Energy up, industrials up, materials up. Lets dive deeper into todays action. Scarlet im think about the reversal you were just talking about. Choppy Market Action on the week especially around momentum stocks. And this is around the 50 Day Moving Average. Earlier we came close to breaching that short term momentum indicator p take a look at this one and half year chart of the s p 500. Arranged all the uncertainty around the macro factors, stocks stuck in this giant rage and then the more narrow ranges between the 200 Day Moving Average in blue, the longer term buyers and in yellow the shortterm buyers. Last year the s p 500 stuck in between those moving averages, then making it about the 50 day, once below and then the 200 day average once that was sliced and ugly fou