Alltime high. As you can see, it closed in the red. The dow squandering a 360 gain to close down more than 100 points tesla announcing a five for one stock split. Leading todays tech losses amd, apple, microsoft, amazon all falling more than 2 guy, what is your take on this big turnaround i would have thought Something Like this would have happened weeks ago i think the reversal is interesting. Well see if it holds up tomorrow to your earlier point, i mean you saw a pretty significant reversal right around an alltime high in the s p 500 if theres one thing i would attribute it to, dont discount the fact i think its actually pretty important, the news out of the big ten cancelling their football season. Thats pretty remarkable if you think about how meaningful it is to those schools and the local economies. I think that was part of it today and i think the other part of it is the stocks have been on such a ridiculous run, it was just a matter of time before we saw a move of this magnitu
Saying it was on hopes for a rate cut on friday we talked a lot on friday about just whether and i made a joke that the market shows pricing the quickest sell off. Maybe the one individual that said, i got it and felt sicker it just seemed to subside a bit. Thats right. Human bee haflor is weird. Going into a twoday weekend except the good ones where you could have gotten 1,000 new cases. Up another 1,300 showing a bit of change. I love this graphic friday doesnt really sum it up it came back that was the end of the month. Some of that extra pressure was in the systematictype trading and there is an upside air pocket i think that the fed statement on friday sent the message we are here and probably dont have a very high threshold. It wasnt needed same as december of 2018 it was words that did the job for months until we got a rate cut. The bond market was very interesting. Instead of the bond market leading the stock. Take a look at treasuries. The 10year yield hit an alltime low yeste
Movers this month. Jim cramers going to be on here to tell us what these par boir bolick moves mean and tillray announces a shake up well talk to the ceo, brendan kennedy, to ask him about his plans to make this hot stock hot again. Say that five times fast power lunch starts right now stocks are retreating today, it was above 29,000 before sinking just moments ago before the breaking news, reports of china tariffs staying in place until after the 2020 election. Kayla has some new details on this developing story. Kayla, i thought they were supposed to sign this deal tomorrow i guess its still on, but youve got some details. Go ahead signing is sill on, but the principles have maintained ever since this was reached that any future tariff reduction would hinge on chinas compliance with this first phase of the deal an Administration Official telling me moments ago theres no agreement on a path forward with regard to tariff reduchotin to between mid december and today, there is still no d
Concerns over production of the 737 max jet. And positive news on the housing front, as home builder confidence jumps to its highest level in two decades coming up next hour, former treasury secretary jack lew will join us to discuss trade and the economy. You do not want to miss that and with us for the whole first hour of theshow, dan nathan from risk reversal advisers. Dan, good afternoon. Thanks for joining us. Great to be here. More optimism on trade or whatever you want to put it down to is a lot of this news not already out there . Are you surprised to see ongoing rallies to new highs yet again at the end of the day, you like to see followthroughs. So friday, we had a muted react. A lot of investors expected some kind of surge, similar to what we had at the end of 2017 after the big tax cut. A lot of this was priced in. I think the continuation of last weeks rally into this week is obviously pretty establibullish. Also fairly seasonal as we are looking down the barrel of a week
Component earnings joining us for the hour is stephanie link great to have you here i think thats exactly where we should start we had earnings from walmart and cisco. Cisco is the drag on the dow how would you characterize how it reflects back to the Broader Market last quarter the same thing happened where cisco disappointed and walmart posted a better than expected number. This is what this economy swhat this market is enterprise spend is weak on trade concerns and uncertainty and thats not Getting Better any time soon versus the consumer being very strong those numbers are very impressive 6. 6 stack comp for walmart. It actually kratd. Ecommerce sales 41 . Estimates are going up for walmart and going down for cisco and i dont think theres a lot of visibility at cisco even if you listen to that Conference Call they were disappointing across the board. You got to pick your spots of where you want to be well dive deeper into each of those Companies Reports ahead. Stephanie will be wit