More details coming this week on each of those offerings and content buys as a crowded space competes over hit shows like seinfeld and the Big Bang Theory not to mention their own original content joining us to discuss, lara ipho and laura martin good morning, guys, good to see you. This is getting crazy. The price tags for some of these shows that are decades old is this a reasonable chase of content right here its war, and war is on were seeing just the only skirmishes theres going to be war on content, billions of dollars will be spent. Distribution, the studios against the Tech Companies everyone will go and shoot against netflix with its 150 million subs, 190 countries, distribution, its a war of attrition. How are we going to know who the losers are i think we know who losers are because the marginal price of streaming services is free. Apple is going to give you a device and free content even though the posted price is 5. Anyone with a kid under 10 is signing up for disney for 3
And take a look at where we stand in the markets now we are at session highs. Dow and s p, nasdaq, all rallying the dow is up by 1. 4 . So is the s p 500 and nasdaq is up by 1. 7 major averages are on track for their best week since the beginning of june. Check out some retail that i means hitting record highs home depot and target lets get to bob pisani for more on whats driving stocks higher look whats going on here this week, the sectors most beaten up in august, theyve all rallied. Cyclical semiconductor, retail, industrial theyve all rally ied this week. The more defensive groups, the ones that have been stronger all throughout the month of august, the Consumer Staples and the ewe tillties and gold stock ises, theyre all underperform iing ts week so what is this were seeing here is this an oversold rally in these sicyclicals . Month end rebalancing . More optimism on trade talks maybe all of them. The problem is theres not a lot of confidence in the rally because of the uncertaint
Well, good thursday morning and welcome to squawk alley. Im Morgan Brennan with david faber and mike santoli, live from post 9 here on the floor of the new york stock exchange. Carl and jon are both off this morning. Stocks are staging a recovery today. S p coming off its largest comeback since december of last year on pace for its Third Straight day in the green, but is todays rally sustainable or is more volatility ahead . Key question for investors joining us now is Wells Fargo Asset Management multiasset strategist, brian jacobson, and invesco, vice chair of investments, krishna mumani. Krishna, ill start with you what do you think . More volatility ahead . I think volatility is to be expected in a stock market thats dealing with lots of issues but at the end of the day, the real question is, where do we go from here . And as the economy stabilizes in the second half and trade issues dont get exacerbated further, the markets are probably going higher rather than meaningfully lower.
Power lunch starts right now with two hours to go, here is where we stand with the markets. S p and nasdaq hitting record highs to close out the week. Nasdaq better than 1 . Alphabets power move behind that rally stock of double digits best day in years kelly. Thank you we are a week away from the decision of a rate cut the National White house economic adviser larry kudlow saying it is a miracle the economy is growing at all given years of monetary tightening mr. Liesman is here. Other parts of the economy reverse the strength of the First Quarter. Lets look at the details. We were looking for 1. 81 consumer is 4. 3. Best member since 2017 and powered by durable you see federal spending up 7. 9 Business Investment and exports were negative. In fact, i want to show you the reversal of everything strong went the other Way Investment positive in the first. Inventory. You see the consumer the contribution to gdp. Less than 1 to less than 3 that is a very big number. Here are the july prob
Post nine of the New York Stock Exchange Morgan Brennan has the morning off. Dow session low was about 150. Well start with this rally in tech leading the s p to record closes yesterday these regulatory headlines out of d. C. Not slowing down the momentum out of the valley evaluation partners, early facebook investor, Roger Mcnamee is with us to talk about facebooks print they cant lose. No. What would it take to slow these guys down . To be clear, i think from an investor point of view, theyre delivering exactly what investors want and as long as that goes on, the stock is going to be fine to me, the question is the policy one that all of us as citizens that our government has to ask, which is, should there be some limit on what businesses can do when the actions of that business affect public health, democracy, privacy, and competition. And, you know, were wrestling with that right now and the governments getting its gears moving, but it goes slowly and until i guess its going to nee