In fact it closed down 30 bips. Big deal. And in fact, to try to preach a lot of fear mongering right now is a dangerous thing to do. Having said that, theres a lot of damage underneath the surface. Theres a lot of stocks today. We talked about how weve been printing many new 52week lows across the board. And Commodity Prices are telling you something. And clearly is this deflationary . Absolutely. Is this good for the consumer . I think absolutely. Does this mean that Global Growth is plummeting . I dont think so. So on some level there is a supply issue. On some level theres an asset issue. And i think thats how you have to look at it. But to say the stock market is very healthy right now because its only a couple err percent off the highs is not something i would say. The tlt outsize move up more than a . Xle on the s p 500. Thats not good. 2 1 4 in terms of tenyear yields. Thats been a pivot point for a while. Were somewhat significantly below that. I still think yields go lower. I
Night. And exxon breaking below the twoday average but taylor swift in have been aty fair prizing the company. At least its still above the ipo price. Earnings coach with a pretty good beat. Cvs plagued by disappointing guidance. In china, investors must wait one day to cover positions and pay back loans to buy shares. This comes one day after the u. S. Shares fell. Shanghai managed 3 . Come firms saying were out, for short selling. This lasts for what i feel that the Chinese Government honestly, i dont think theyre idiots. They watch our show and understand things and they recognize the market has gone lower. Lets make it go lower at a slower pace. I think people are presuming the government is trying to prop it up. I think the government is saying listen, this is your chance to get out. We screwed up. Were trying to be in correction course. Its a totalitarian government. Theres not an election. If there was an election theyd throw them out. Thats not it. They have a fiveyear con fab,
Concerns about growth in china weighing on investors after one report that apple had been replaced by xiaomi as the smartphone maker. It points to a lingering concern is that market share in china one of the most important markets is gn to the down side, not the up side. If you want to look at apples reaction to china, theres a couple of conflicting data points you have to consider. In the Conference Call tim cook said equity markets have recently been volatile this could create speed bumps in the near term. Then he said about the stock market, this worry is probably overstated. So were not changing anything, we have the pedal to the metal. Lpe penetration in china is only 20 . People are getting phones that can handle faster internet speeds, the middle class is growing. But at the same time hes saying in the short term maybe it does show up somehow in the numbers. Were still growing fast. Are we in a period where we dont know what the holiday is going to look like for these guys . We
Its up another half a percent. Well get disneys earnings after the bell today. Apple is thought of as sort of the lead dog. Its the Largest Company out there. I think disney is the company to watch these days. What a performance it has turned in. Meanwhile, aetna out with earnings this morning. Its getting a big boost from medicare and medicaid these days. We have a first on cnbc interview with ceo mark bert bertolini. Breathtaking consolidation in that industry. Really looking forward to that. Also rock star and actor Rick Springfield is joining us at the New York Stock Exchange. Well talk about his latest film with meryl streep and what he thinks about taylor swifts harsh words for spotify. Ring springfield has sold 25 million albums in his career. Thats a lot of potatoes. Im sure he has some comments about streaming these days and whether or not that is a way for a musician to want to get paid whether the compensation is enough. Taylor swift says its not. As soon as you said he had
Again. Bob iger joins us in a few moments. Apple looks set to continue. But Merrill Lynch adding insult to injury. And tonight tesla and fitbit coming out. But first up disney reported better than expected earnings. But they were hurt by slowed growth at the International Theme parks but still up more than 20 so far this year. And well have an exclusive interview with bob iger in just a few moments from now. Jim, you were up very early reading through the quarter, reading transcripts, i assume. You said today is the bears day. Well, i think a lot of it is selfinflicted pi disney. They gave a prediction which was a high single digit projection for cable. Its about 42 of their business and they missed the projection. When you set a benchmark and you underperform, even if its not as important as other things, you have to take the pain. And theyre getting punished for that. But lets find out. I mean, he certainly knows more. And for joining us is bob iger, lets go to it. You gave us three