Today. Down by 1. 5 . Well dig into that over the next two hours. We begin with the banks. Dan warner is a banking analyst at morning star. Great to have with you us. Dan . I dont understand why one would be invested in banks right now unless you simply wanted to preserve or lose capital. Give me the bull case. The bull case is that if you with the strong economy, with the low cost and positive thats we, have were still seeing strong loan growth. I think i mean there are headwinds. But for longer term, i think you still want to be in banks. The fed will raise rates at some point. It always seems like the last few meetings when he some excuse or some reason at the last minute why they havent raise the rates whether its geopolitical or a jobs report. They will raise rates. I dont i dont think its going to be quite maybe you may see one before the lection. I think that lection may have smim pact on the timing of the rate increases. I would look for it more december or thereafter. So i thi
This show just about to kick off. Remember apple has four different operating systems, right . Mobile, mac, watch and tv so there should be a lot to talk about today. Two really big pieces of news were anticipating, tyler, one has to do with siri, that voice activate ed Virtual Assistant a you could use siri to order an uber. There is this fierce war when it comes to Virtual Assistants. Apples siri, alexa, google assistant. These tech giants maybe could use Virtual Assistants to move hardware. For example, the team at forester think theyve sold 3 million amazon he can coast. Maybe you open it up and get a piece of that but first and foremost even before the Business Model all these tech giants and event, developers and consumers and investors that theyre all keeping pace with each other and whats thought about as the next great phase of personal computing, also today we think were going to get a makeover to apple music, remember, it was just a year ago apple music was the talk at this
And what do you think of the sign of derisking . You are have seen a lot of the trade assets out there, and you have n the treasuries rallying and gold rallying and the utilities ralin inlying, an is an indication of the investors being in a defensive position. Are you better served to get to the cusp of the new highs and then you find a lot of people are playing defense again, and josh, what is going on . Well, i guess that i reject the premise that this is some of kind of a failure, because price has memory, and we have approached the old highs and we have been here four. Four times since may of 2015, and the s p 500 bumped and failed four times. That is right. So when we approach the highs again, you should expect that people who felt like they got left holding the bag buying at the levels to maybe take some off which is a little bit of the resistance and you have sellers here, and we know it already empirically, and nobody should be surprised that we are not ripping through it like
Moments ago. I think you have sort of a false market, buoyed by zero Interest Rates and you have to be cognizant of it. Of course, covered a lot of ground. Talked valeant, apple, herbalife. But in general, nervous about very big, bad things happening in the global markets. Without a doubt. If you have a billion dollars and youre over a certain age, it seems like youre really focused on the risks. The environment doesnt feel comfortable to you. Negative Interest Rates are something you never thought youd have to contend with. And its not to say its correct or wrong, but its one of those things, everyone understands the unease. If youre somebody like carl icahn who has made his fortune putting money at risk when everybody else was panicking and it seemed like things were cheap, thats not really the environment you feel like were in right now. You had an interesting discussion about these gentlemen on twitter yesterday. In part, the conversation went, are they uncomfortable with a communi
That is not going to take place because of the slowdown in china and what that could mean for the economy. Also lets look at european equities at this early hour. You will see now things are in the green. Dax up about. 2 . The ftsi about. 3 . And opec ministers meeting. A live report in a bit. And todays squawk planet. Waiting to hear from the ecb. Decision due at 7 45. Followed by a draghi News Conference about 45 minutes later. The central bank expected to keep rates on hold but perhaps raise inflation forecasts. Two notes. Adp private payrolls due this morning. The private sector forecasts have added 170,000 jobs in maybe. Adp not always a reliable indicator for the jobs number but last month correctly fore shadowed. And a pair of central bankers to watch. Fed governor jay powell and rob caplan both speaking. In Corporate News uber in the biggest 3. 5 billion. That is just the total in saudi arabia. The total i think 5 billion. Ride sharing most recent funding gives uber a valuation