Stocks bouncing around all session along on conflicting headlines about that december 15th deadline for china tariffs. Will it sfwebe extended. And House Democrats officially announcing articles of impeachment, two of them, against President Trump. Plus, coming up only today on the closing bell, wilfred frost is live from the Goldman Sachs Financial Services conference and hes got exclusive interview with Howard Marcus ks in just aw minutes. Joining us now for the hour is steve grasso from stuart frankel. Weve got to stop meeting like this i know, i know. We talked about this last night on fast money 5. Whats going to happen if theres no trade deal . Whats going to happen if the deal is extended and whats going to happen if a deal gets done there are three scenarios. Quickly walk us through each one. If the deal gets done, the market shoots higher but its only phase i of a deal. So i think it has a lot more ammo in its ability to move the market progressively higher from there. Nobody
Time for Global Exchange and bring you todays market moving news from around the world from hong kong to frankfurt to london to new york and washington. Our bloomberg voices are on the ground with this mornings top stories. Were going to start with the latest in asia. Trade uncertainty appeared to take its toll on china. The countrys economy losing more steam in october, factory input and fixed asset sales missing estimates and joining me from hong kong is bloombergs chief asian economics correspondent. Give me the rundown of the data weve got. It was a mix across the board with a slump in investment and industrial output miss expectations and on the retail spending part of things we saw the weakness go from auto and turnt and cuggetting the consumer is starting to book now none the pressure of trade war and slowing economy. There were two big takeaways from economists and onen one hand the numbers suggest were probably looking at 6 growth in this Current Quarter and probably shows the
Place. You can see the dow closed unchanged. Up marginally. The s p 500 gaining a little bit in the nasdaq lower. Certainly a little tension in the tech stock. Scarlet lets dig deeper with our markets reporters. Abigail, what are you watching . A look at the russell 2000 you were looking at. The worst day in a month. At the close, the worst day of the month. Heres a chart we have been looking at for quite some time that initially came from oppenheimer. At that time, they were making the case that if the russell 2000 appears above 1600, that would be a bullish sign. For all of this year, we have been below that 1600 level, although yesterday we did go right above it on a slightly rising moving average. The rsi is now going back into the range from oversold. It will be interesting to see whether they can pick it up and ring the russell 2000 closer to alltime high. About 10 relative to the s p 500. We may continue to see a offer small caps. Off for small caps. Intop and bottom line coming
Service surpassed 10 million sign ups in one day. That news adding more than 18 billion in market cap to the entertainment giant today alone. And get this since disney announced pricing for disney plus in april its gained 58 billion in value. Do the magical math, 58 billion in market cap. 10 million subscribers makes each disney plus user worth about 6,000 is the magic too good to be true . Guy, thats one way to do the math i think the market is saying is going to be its far more than 10 million at a point. I guess the moep is at some point i want 60 if you do the math thats the ultimate hope with that said here is the stock that traded about six times normal volume, made an alltime high, up 50 ish since announcing legalized me andreaering to me that was the first life lines in the sec can you wrap your head around the valuation . Karen and i spoke about it last night. Spending money to make money i get it how long does it take and moug are you willing to wait . And how long should you
The idea of testifying into the impeachment hearings . Will the president give firsthand account of the call to ukraine to congress . The democratic divide is deepening as president obama throws shade on the far left candidates and they respond. What the moderate surge could mean for the election and your wallet. That and much more on making money. Charles after a monster run stocks naturally moving slightly sideways today. Theyre higher. Make no mistake. Feels like there will be a another huge move very soon. The bias is to the upside. Well take our cue from big week of earnings data. All tied into the american consumer. Well have Earnings Releases that will wrap up the entire earnings season which is not only better than expected. This is the most important point, folks, they move stocks higher in a big way. They caught wall street flatfooted. I want to bring in erin gibbs, First Trust Advisor chief economist brian wesbury. Erin, let me start with you. Last week all im reading about