Facebook, is there still too much risk in the stock and differ devidend darling. Ten stocks making big gains. The Halftime Report starts right now. Welcome, good to have you with us on this thursday our vichlt committee, joe turn know, Jim Leventhal and pimco portfolio manager. Nice to have you back. Lets start with the selloff of stocks, it was the worst day for the s p. Chicago pmi number going cold water on things may be bottoming. Josh, about to come in today, apple good, facebook good, earnings pretty good wow that pm movement, 43. 3 versus an estimate of 48. 5, the worst since 15. Are we reassessing now once again . No, because we had a rate cut yesterday. Well it may pause now the s p 500 hit an alltime high yesterday its down marginally today if the stock market went a point a day, no matter what, wed number a bubble. So we backfill perfectly natural. I think there are those that hit prior levels one could be the kre, regional banks down today double sfs on the session. They ju
October 18 futures indicated up about 50 points for the dow s p indicating to be up about six points all of this riding on the big number it is jobs friday expecting an increase of 75,000 none farm jobs and increase of Unemployment Rate of 3. 6 . The numbers are weighed down by the strike at General Motors those striking are treated as unemployed thats important to remember overnight in china, new data showed factory activity slank. Analysts expected it to pick up from last month. All of this raises the stakes for the trade war. Eunice yoon has more for us now. Thank you, becky. That official number was different from the private survey that came out showing factory activity expanded at the fastest pace in two years. It could be because the private survey tracks small and private companies as open toesed to large ones. China this morning proved to be a tech power house the goal here for 50,000 they keep on serving now with the 5g enabled phone apple is on 4g and the huawei phone is 10
Halftime report starts right now. Good to have you with us on this friday. Our Investment Committee today. The cio of santo Global Advisers and lindsay bell is back. Lets begin with the markets with stocks rebounding today basically flat for the week. Our focus today on what has been happening on the ipo market. Peloton down again. Endeavor pulls the ipo. Actually quite encouraging, because the Public Markets are being more rational in valuation than the private markets that are just awash with cash and you have the soft bank effect of putting so much money in the companies. Its selffulfilling prophecy. Public markets says this is crazy. Lyft, theyre not going to make money for we dont know when. Uber. Endeavor is well. Theyre saying we dont want to do that. Unfortunately, its impacting some of the higher valuation equities in the u. S. Market. We see you take a stock like roku. Take a look at whats happening to that stock and others. I dont think it means we have a sustainable move in
The list and flat screen televisions this will take pressure off retailers ahead of the Christmas Holiday season still other product that will get hit. Only a little pressure. Because in the breakdown that some conducted for the items hit with tariffs on september 1st versus december 15th there are still tens of billions of dollars of foot wear and apparel categories that will be included in september 1st you have Musical Instruments, sporting goods, and a lot of food items that will be hit on september 1st. Musical instruments, is that a big market in the United States chinese made Musical Instruments . I dont know im happy that today youre serious today. It is a big show it is a big show. It is a big show every day thats the part that bothers me sometimes it is not. You say it is. Other times he says i will be honest with you. Im like really . Thats nice. In this one vignette you will be honest youre not always maybe honest but you say its a big show every day. You have backish today
Were talking about other cloud plays on the horizon the Halftime Report starts right now. Great to be with you on this friday, your investment committee, joer er ijoe, john,y young, senior Portfolio Manager with young and associates at morgan still is larry fink right . Are investors not being aggressive enough right here, serrat with markets on the precipice of a fed rate cut . I think right now its fair to say we are properly valued. I dont think you want to be more aggressive going to the markets. Earnings are coming down we have a lot of uncertainty stocks have had a great run, plus 20 there are opportunities. I like a barbell approach on investing, where theres growth and value but going full force into the market is a little scary. Theoretically if rates come down, doesnt that make valuations more attractive, more acceptable to have higher valuations youre factually correct and discounted cash flows. I sense a but coming. But but b not a but, a distinguished perspective. From a f