Future is going, and goldman taking down the numbers today, and all raises the new questions for the investors to consider, and steve weiss, you considered it and shorted apple this morning . Yes, the second time short this week, and there is a story ta broke from nike saying that it is going from the twoyear cycle refresh to threefyear, and that is news that they are running out of technology, and innovation, so, that is why i did that. I went back today, because the analysts typically seem to follow the herd, and not all of them, but some. Goldman is cutting the number, and mary meeker who used to be a real, real force in the business on the sell side that is, and she is in private equity or venture, and goldman, and so analysts will now look at their numbers and come out and do the same thing, and cut estimates, and so it is purely a momentum trade from the longer term holding standpoint and going out a year or two, it is a hold, but it is nothing that i am excited about right now.
Words. Thats called lying, folks. When he said he was robbed at gun point in rio after doubling down yesterday on the tall tale, today he apologized. Were getting this all covered the way you need it to be. Congressman garrett graves represents baton rouge. Lifelong louisiana resident here on whether Donald Trumps rival brought welcomed light for the community struggling with disaster. Our Political Panel breaks down the Paul Manafort resignation. Whats really at work there . And the expert on sports and Sports Marketing on the ryan lochte mess. Did the swimmer just blow the biggest paycheck of his life . On wall street, weve got markets moving in a very mediocre range right now. Lighter volume but guess what . This numbers with the dow down 41 have another billionaire entering the bear cave. Why are the big money guys cashing out . Less than an hour away from the closing bell on friday. Lets start the countdown. Liz okay. Yes, so the markets arent as exciting as bolt running down the
Suggested a merger however yahoo says the terms were not sufficiently compelling. Let us know what you think. Follow me on twitter at rishaadtvand use trendingbusinessas well. A number of markets closed. Singapore and malaysia out of action. Elsewhere pretty negative. We are getting a complete headwind out of new york this morning. Not the best headwind you want. Those losses we saw coming through from wall street on friday. Also, volatility back, the vix back above 15. I won the only market coming online now. Taiwan hi juan the only market coming online now. Seeing anl very much impact, down 1. 4 , the won weaker against the dollar. We will get to samsung in a moment. The nikkei off by over 1 . Strengthen,ting to up. 2 at the moment against the dollar. There were positive signs coming through from the factory floor in terms of machine orders, still very much deflationary pressures. To 2 . 200 off by close friday and base metals, iron or, gold, oil, not helping things there. New zealan
Pashakokis, both cnbc contributors. I start with jared bernstein. Good to see you. Hello, michelle. Yesterday, president obama touts this change by treasuries as a great thing, citing understandably one of the great things about america is its rule of law, but apparently missing the irony that by changing the rules in the middle of the game he has undermined the rule of law. How on earth can this be justified . Laws change all the time when there is a problem. I think the government this is not a law. This is just a regulatory change that has gone around congress. These are new rules on the books that have to be followed. If people dont follow it, they will be in violation and there will be actions. I think the important point here is that there are two very significant problems afoot. One is tax avoidance by industries who just moved their tax mailbox, not the operations, over to foreign markets in order to avoid the tax bill, and the other is a group of a small group of advisers who
The nasdaq is off by 18. This comes after both the s p and dow closed at their highest levels of the year after yesterdays fed meeting. That fed meeting along with the News Conference with fed chair janet yellen, were going to be talking more about her message. In the meantime, take a look at wti. It is up by just over 2 to 39. 28 a barrel. Getting closer to the 40 level. Also, if you take a look at the currencies, the dollar is down against the euro, which is all the way up at 1. 1308. The yen is trading at 111. 36. Dovish Federal Reserve keeping Interest Rates unchanged, suggesting it will be very cautious about future rate hikes. A pretty upbeat assessment of the economy. Yellen had this to say at the News Conference. You have seen a shift this time in most participants assessments of the appropriate path for policy. As i tried to indicate, i think that largely reflects a somewhat slower projected path for Global Growth, for growth in the Global Economy outside the United States and