Apple is above 467. 77 making it the first u. S. Company to have a market cap above 2 trillion, a discussion a few moments ago about tim cook and how he has led stewardship of the company through all kinds of cross currents josh lipton joins us to talk more about that. Josh, its funny to look at that change of market cap and think back to some of the more cautionary calls weve gotten in the past few weeks from the likes of b of a who worry about margin pressure on phones, margin pressure on services, less impact from the buyback and so forth yeah. Listen, you look at this recent run, carl, obviously they had those earnings in late july that blue past the streets expectation. You saw strong growth in sales of the new low cost iphone sc. You can chalk this recent run to a few big trends one, theyll say listen in Uncertain Times cash is king and obviously apple has a lot of it, net cash position of 81 billion and counting also, that work from home trend is clearly helping apple or at leas
Meet the new flu, same as the old flu, except it spreads faster and more easily the dow gaining 116 points,. 47 , and the nasdaq. 87 , record highs. But you know what, you know where the real action was, it was in the highest of flyers and the basis of speculative stocks. Thats what withe need to focusn partly because of the coronavirus and the old guys will say, this is the top i dont think that but im giving them their due what am i talking about, Virgin Galactic, plug power, and countless others that have become the darlings for younger investors. Look at my twitter feed. Read reddit, rather than reading the register for the news hour. Speculation, i think its good, even essential, essential to speculate on stocks, just part of your discretionary market youve got the retirement money, of which is completely wrong to speculate on, then you have a mad money portfolio, a group of stocks, within that group of stocks, you can have speculative stock. One or two i wont try to talk you out
High. Yes, down 20 otherwise. Now when oil goes lower, airlines tend to go higher in terms of the stocks as those stocks rallies today. Can you see that each of them most of them up over 2 . We have the number one analyst Airline Analyst on the street with us to day. Jamie baker. Hell give us his top airline picks. And president obama just announcing new Clean Power Plan which could have a major impact on the coal industry and basically industry at large. Weve got the ceo of American Electric power live. And the cit group is completing the purchase of one best banks parent company, cit ceo john than will be joining us to discuss that deal and the impact it could have on the lending environment. That will be a cnbc exclusive in a few minutes. In the meantime lets talk about todays Market Action joining our closing bell exchange, we have chase chief economist anthony chance us with. We have president of onpar executions and our own Rick Santelli joining us as well. Peter, the impact that
Charges for the police pan who put eric garner in a fatal choke hold. Garners offense, selling loose cigarettes. The entire incident from last july was caught on video, tonight attorney general eric holder a announced that the Justice Department is looking into whether garners civil rights were violated. Garners family has been pushing for federal involvement and his wife had this to say tonight. What my husbands death will not be in vein as long as i have a breath in my body, i will fight the fight to the end. President obama vowed to fortify the efforts to mend the racial tensions between Law Enforcement and minorities. In the meantime, here at home, demonstrations continued, tonight a protest that was planned against mike browns killing in ferguson and the lack of an indictment in that case grew into one that included garners case. That protest happened in the heart of philadelphia as you can see, just as the citys Tree Lighting ceremony took place. Action News Reporter Kenneth Moto
Expectations. When the expectations are not so great, stocks can really rally, as they did today in a glorious overall win for the bulls, with the dow roaring 188 points. And the nasdaq skyrocketing 1. 75 . Of course, dickens has it right in both directions. Those stocks, where there were, in fact, great expectations, a la the stephen king of the victorian era, and the company failed to deliver, or if the stock has run up but didnt beat the numbers handily, well, those got taken into the wood shed. Yes, during earnings season when stocks are flying all over the place and youre trying to figure out whats going on, you need to know what people are expecting, because the expectations themselves, not the numbers, often decide the direction of a companys stock. We need to drill down on this, in part because the stock market is not inherently rational on a momenttomoment basis. Yes, the market can be stupid on a given day. But it does tend to come to its senses. Let me give you examples star