Earnings. And your earnings read is. Some are cloudy, some are bright, some are messy. We will try to find a signal in all of the earnings noise. Im alix steel here with guy johnson in new york. So interesting to see the stock reaction to earnings. Finally, earnings seem to matter, but are we having the right takeaway if you are an investor . Guy difficult to draw a comprehensive conclusion. You need to take every stock on a casebycase basis. The answer to the question about the signal is really hard. Is there a signal in all of this, macro takeaway, something that we can deduce out of this that is useful beyond investing in the single stock story . What is happening in tech is so critical. Alix did you see the chart . Sell google, by microsoft. Guy now we wait for amazon to see what is the deciding vote. Will they provide the conclusion to this narrative . The existing market has broken because of you. Alix thank you. Guy the new homes market is not. That is a market that continues to
10 00 oclock eastern to the money a lot of red on the lefthand side of the screen the dow is down 70 points, look at the nasdaq 170point, shall be big tech, microsoft it is a big winner, up 13 bucks 4 that is a dow stock, the big game puts extra 100 points onto the dow. In other words without microsoft the dow would be negative, google having the worst day in a year, google on the list, down 8. 3 , take a look at the ten year treasury yield moving up significantly, 4. 89 thats where it is now, twoyear well above 5 you are at 510 as we speak, the latest read on new home sales, not existing, new ones. So much stronger than expected they sold at the seasonally adjusted annual rate of 759,000 in the month of september that is up from august which is revised to 676,000. As for the price, median price 418,800, that went down from the month of august. As you have rates that a 23 year high for a mortgage, is that starting to break the back of the price of homes. Stuart maybe. Im being overly o
Kudlow im larry kudlow. Israel, now in the third week of war against barbaric hamas ir, hezbollah iranian terror axis. 33 americans have been killed with more held host age, steve hai harrigan is with us in beirut, what can you tell us today. Reporter another warning, for hezbollah, ir not to open a second front along lebanon. And that warning came from israels president. I think hezbollah is playing with fire. I think that iranian empire of evil that is backing them and operates day and day out to destabilize the middle east and the region, is playing with fire. Reporter there has been fighting back and forth between the two sides, so far during that two week period. 31 hezbollah fighters have been killed and 5 Israeli Soldiers killed. Hezbollah has been contained using shorter range antitank missile, not the larger rockets supplied by iran, one side here, saudi arabia now evacuating the families of diplomats by military plane. Larry. I have a question on it you mentioned another warn
Elizabeth dont deter he, you cant appease he. Bring it, larry. Go, larry, go. [laughter] were right behind you. Now this story, House Republicans ready to rock and roll. Congressman mike johnson unanimously elected house speaker. We have got what theyre going to take on first. And President Biden claims hes not doing a slowwalk strategy on hamas. Critics say if hamas lays down its arms, no more violence, but if israel lays down its arms, no more israel. And new developments in former President Trumps new york civil fraud case, weve got it. And lawmakers hammered the irs to stop its hyperfocus on audits of regular americans that democrats support. And College Students slammed for calling resistance, hamas barbaric, unequivocal terror killing prix against israel, turning israel into a killing field. Plus, the push to probe mysterious secret donations to these Student Groups. Whos doing that . Plus, how did a pilot high on mushrooms almost crash an alaska air flight, killing potentially 8
Congress. We are getting fox business Edward Lawrence in front of the camera to give us the up to the second news on president bidens latest comments on israel and whats happening with the hostages. If you see this 87point loss on the dow, turn your attention to the nasdaq. The loss is much bigger, down 308 points, 32. 33 . Thats investors 2. 33 . Alphabet plummets 9 plus percent right now, the stock on pace to lose more than 162 billion in market cap which would mark its largest oneday loss in value ever. This is all about weak cloud results in the parent of googles Earnings Report which came out after the bell last night. The stock is really acting like a dark cloud over the nasdaq. If the composite does close down 217 points, 6 points or more and, of course, yeah, we are definitely below that here, down 314 points, that will mean the nasdaq has officially entered a correction. Correction, of course, defined as a decline of 10 from the recent high. We will be talking about that. Inte