Korea. He sat down with Gold Medalist chloe kim. That conversation is am coulding up in just a few minutes so stay tuned. Thats going to be super fun. All right. Now to the extreme market volatility less funneled which has been a global phenomenon as well for more on whats happening here and abroad, were joined by stephen roach, former morgue an stanley asia chairman, Yale University senior fellow he warned in december that global economies may not be as resill yen resill yent as once thought. We didnt plenmention that you also an economistist what do you think of the Interest Rates spa spooked the markets. Are they going to go higher or what is your prediction . Well, i think the Federal Reserve is clearly got its antenna up, michelle, given not just one data point on inflation but the fact that the economy has a fair amount of momentum at full employment and lo and behold were doing a lot of deficit spending at the same time which is not exactly the recipe for stable inflation going
Wall street darling. Which is off 37 . From its 52week high. The second worst performer in the entire s p 500. Joe, you used to love it. I used to love it. Whats going on . I used to own it. Whats the problem . Listen, its about competition and allowing others into your business model. And you not understanding that you need to be more dynamic, more diversify and organically grow. Obviously in years past we knew that other was step into the space. That has happened. I think whats discouraging if you think about it, is its domestically oriented. A higher u. S. Dollar. Weve got lower energy costs. You would think that this would translate into a recovery for this company. The Company Needs something. Maybe its a new management team, needs some form of a shakeup. I dont know where the shakeup comes from. Maybe it comes from the activist community. Steve can speak to that better thanky. Something has to happen. Not a name, ive owned in the past. I dont want to own it here. Is this investib
Good morning. Welcome to squawk alley. With me at post 9, sarah eisen, mike santoli north korea firing an unidentified Ballistic Missile over japan last night. The first such projectile to bypass the island nation since back in 2009 our very own reporter is in japan now with the latest response well, like so many japanese here, we were woken up around 6 00 a. M. Local time with that latest launch coming from north korea triggering a nationwide alert. Broadcasters breaking into programming, warning of a missile passing through. Some residents in the areas in northern japan reported getting Text Messages on their phone urging them to take cover and others said sirens went off in the Community Calling on residents to look for a safe place. This is a missile that traveled well over 1600 miles passed over the Northern Island of hoe kkkao before landing in the Pacific Ocean. The Prime Minister abe con deping this saying he would make every possible effort to protect the lives of the japanese
It felt kind of bad and here we are and weve actually gone into positive territory for some of the indices. Were seeing north korea acting up again but nothing has really happened. Until you see hopefully nothing really happens, the markets are going to go up and down and then hopefully we just get passed this again and we look at earnings earnings are going to drive this market nothing is happening meaning the bomb didnt land on land and so, therefore, the markets are saying, you know what, every dip you buy . I think thats what youre seeing so far unless you see a real attack. Yeah, i think its really hard to trade into an event like this we are in an environment where there are irrational actors but in terms of what the Economic Impact would be if war broke out, it would be highly localized to the asian region and specifically to the korean peninsula. So i do think that when youre thinking about it from a u. S. Investor perspective, u. S. Investors are probably insulated in their po
The classic sell on the news and its not selling all that much on the news. No, and i dont think any of us were calling for a big selloff. I just thought that going into the event, judge, if you could sell at the money calls which i did at 160, at 162 and 164 you would have a cushion do we get into the 150s, could, maybe even the low 150s but im not calling for a 5 , 10 selloff. Im saying its going to be a flat period while we wait for the first phones to make it to market last two days of the quarter really even as, you know, gene munster was calling for a bigger pullback and even some of the things that linked out aday ahead werent even factual so we should have put a caveat out in the first place. Every time they have launched a product theres been an overreaction of what the stock has done in the aftermath of the launch is wall street saying they dont think its a good phone or they are not innovating anymore, et cetera, and i actually got so sick of listening to that as somebody wh