Charles the economy continues to be a lot stronger than the expert consensus. This morning gdup 2. 1 , beat consensus. Durable goods up. 6 a percent, beat consensus. Business investment crushed consensus. What does it mean for the markets . I would like to bring in fhn financial chief economist chris lowe and jack ablin of crescent wealth management. Let me start with you. Economic data continues for the most part coming in better than anticipated. It does the same experts. You are part of the expert pool. Say, of course it came in better. The gm strike is over. Of course it came in better but im just, i find it remarkable, it feels like it can continue . It does. And i think thats, if you take a step back, think about how the story has changed in the last three or fourmonth, the biggest thing is we were talking about recession, right . Will it come before the end of the year . Is it a 2020 story . Nobody is talking about recession anymore. The economy is fine. We are growing and i kno
Evidence that teens could get hooked on the product. What the white house is doing to stop the opioid epidemic. All that and more on making money. Charles when these markets make alltime highs, we get the same call, consolidation. The whats spin a little bit more. Investors start to stake out the next move. You add to the backdrop of china trade, were coming out of earnings season. In fact a report on china trade that trump and xi, they will meet to sign phase one. It might be delayed until december. But the question now is, should we be chasing the winners or should you look at losers for opportunity . I want to bring in crescent founding partner, chief Investment Officer jack ablin, kaltbaum Capital Management president and Fox News Contributor gary kaltbaum. Lets start with the idea here if you missed this rally, you want to be a part of it, what do you do . Do you chase winners or buy the losers . Again losers are losers for a reason. Charles, the market is breaking out of a 18 to
Potential progress on trade between the u. S. And china liftednvestor sentiment. Lets get to the closing numbers. Averagejones industrial was 30 points, to 27492. E nasdaq up 1 and the s p fell 3. As weve been reporting a handful of stocks are responsible for much of the market gains. But as bob pisani reports that could be about to change. The on the record highs weve been riding a broader breakout that may be near. Onlyth 10 o s p at new highs right now. Six of the seven biggest stocks s p outperforming, apple, amaze be with google parent alphabet but that could be changesing. A handle handful of names are just below new highs close enou to get mor move up in the markets we could have significant expansion of new highs. Big names on the list, pharmaceutical Companies Like glaks o and merck. Discounters lie walmart. Homempvement by home depot and home kprochlt names names. The rally Energy Stocks in the last few days process. Why energy . Partly because the rally has been broadening.
We are seeing a little bit of psychiatry and a lot of focus is a alive have and what that is on the fed and on a repo rates and the global reaction. This is the stocks europe 600, unchanged. Pretty much flat. U. S. 10 year yield will move does next. At the fed we are 42 days away from exit brexit. It is the second day of the Supreme Court hearings to see whether Boris Johnson programming parliament was illegal. Coming up, we speak to the chief executive a chief of a retail and Global Supply chains. But first, lets get news. Neither Prime Minister Benjamin Netanyahu or his rival look to have a clear path to form a clear government. Exit polls indicate the two blocks are neck and neck. Official results are not expected until next thursday. There will not be and cannot be a government that leans on arab, antizionist parties that negate the very existence of israel. Parties that exult and appraisal bloodthirsty terrorists murdering our soldiers, citizens, and children. Carney mayu. K. , ma
Why am i smiling, author of upcoming persuasion, lee carter is here, new mom as well. You look amazing. What a day for you to be back, too, i cant wait for calm, rational analysis of the war of words. [laughter] dagen former investment banker and nfl player. Record run, futures are pointing to, take a look, at hope this morning, 16point loss on dow futures, the earning season fully underway, jpmorgan, chase and Goldman Sachs reporting ahead of opening bell while fargo released quarterly number this hour, john, what are you watching for and what are you expecting . I think we will see fairly recent reports, you will probably see Companies Beat expectations, stilet not forget that the consensus view of Equity Analyst is in the Second Quarter we will see roughly 3 drop, we are seeing the first back to back decline by corporate earnings since early 2016, nevertheless, i dont think the current slow do you know will match the severity of global slowdown we had in 2015, 2016, so the market sh