Thats what i keep thinking on a day like today stocks trashed a week ago, started rebounding like crazy. Dow gaining, s p advancing and nasdaq 0. 54 makes you wonder about the markets rationality youre wondering, thinking is it even sane . For the most part nothing wrong with the stocks that. Reporter zbls. That were hammered in the selloff. But market is not crazy or irrational in reality traders tend to make wild overgenralizations, act fast mistake to assume they know what theyre doing. In short the market is often wrong but we credit the action with being brilliant how wrong with the market be egregious examples tonight rotation out of technology that didnt make a lot of sense sales force. Com. Stood at 92 roared to 102 in earnings when the company reported, results superb, really stupendous, scrutinized them line by line and had such faith it was that good what happened to the stock got completely bushwhacked fell under 100 in a couple of days as part of the rotation out of fastgr
1 on the s p yesterday. Were looking at a bit of a pullback this morning. Investors waiting for key earnings in the banking sector. We will bring them to you. I had of its quarterly numbers. At the fractionally. Asia overnight stocks mostly higher. Exploit 9 and it marks for china in seven years. A shutdown showdown. Lawmakers battle in immigration with hours . Republicans pushing the shortterm spending bill fixes as it comes down to her nations capitol. Youtube looking to clean things out. Other websites as to to crack down on that dangerous type pod videos taken the internet by storm. Germany talk all about it cant investment strategist lindsay bell. Peoples corporation patented the io john peoples and the wall street journal Fox News Contributor mary kissell. Great to see you. Good morning, everybody. Thats on the agenda . The budget showdown. We cannot have a government shut down. Its incredible to me to see democrats turned down a deal that would find the picture turns Health Care
By 15 points lets look at overnight in asia. The nikkei going strong closing at the highest level since 1996. A gain of 132 points that puts the nikkei at 20,823 hang seng was up by 0. 6 pfr . The shanghai was up by a quarter percentage point in europe, you will see that at least in the early going things have been mixed. These are modest moves in spain, stocks are under pressure down by 0. 9 this is coming as some concerns arise in catalonia. Well talk more about that in a moment we have news just out from the National Federation of independent business, showing Small Business sentiment dropping in september. The nfibs monthly index dropped to 103 for the month, that compares to 105. 3 in august. The group saying the immediate temptation is to blame the hurricanes in tex and florida but adds this is not case with Small Business owners across the country becoming measurably less enthusiastic but also points out the index is high by historical standards. Also in energy news, opec secret
Stocks and a retreat from record highs in the premarket. Amex, nike, and apple are all leading the dow lower. Plus, a big change at the top of American Express. Ken shenalt is stepping down after 17 years at the helm and 30 years later, lessons for black monday for todays stock market as stocks continue to break new ground we are set to open lower after wednesdays rally, in which the dow closed above 23k for the first time in the meantime, two dow components out with Quarterly Results this morning verizon posted revenues above consensus, helped by some Strong Performance in smartphones travelers, better than expected results, although it did suffer 700 million in catastrophic losses related to the hurricanes, harvey and irma. This nike downgrade, guys, is going to take some wind out of the sails, too you know, its funny. I question the value add of the downgrade. Which is, by the way, goldman. And the reason i question the value added, theyve got a big Analyst Meeting come up. Its all
Of 491 million in total compensation dauman brought home from his past decade running viacom. Among the iest of all ceos in the country over the past five years, particularly shocking considering viacoms underperformance. Par underperformed s p 500 as well as redstones other media giant cbs, and look at compared to viacoms market cap over the past decade. Amazing this, this is not daumans first golden parachute. Reportedly paid 150 million back in 1999 when cbs merged. Now soo fe they combine yet again to bring in min medvez to both companies. And with us as well, ubs private Wealth Management and one of barrons top 100 financial advisers. Steve weiss what do you do . Highest paid ceo over the past five years. Viacom shares up 8 over that period, over the last three years down 43 . Look, this is so clearly a Corporate Governance issue, because the ties between philippedauman and ceo and personal ties with redstone, too integrated to be able to distinguish. Definitely isnt being rewarde