Today. Its the pull back in small caps that got our attention earlier they, too, now, josh, have moved off of their low so should we be focusing today on this comeback for stocks intraday or the fact that for the fourth day in five both the dow and the s p are negative well, so its a really its a really outlying year just overall. We havent really even challenged the rising 200 day. The entire day in the s p. Not even the 50 day for most of the year so i think if we are to have a 5 or a 10 pullback from the highs, i just dont feel like anyone should think that thats out of ordinary or that it signals some kind of a shift in the broader trend which is higher just to reiterate. Were in a secular bull market that began in the spring of 2013 the move from the lows off of 01 is not relevant to this discussion and the secular bull markets can go on for yeefrms the Biggest Issue have you is the valuation issue, but youve had it now for most of the last three years, and the stocks that are the
Biggest number was online sales, addly, up 22 . Im seeing what youre doing here. Interesting there. Gaining after the bell moved higher as a result. Energy, big laggard, ironically, after the oil prices dropped, oil stocks went with it after opec extended Production Cuts another nine months, look where there may be opportunities in this particular market. Could this be opposite . Getting worse throughout the session, it feels like, with energy today. Yep. The stock that wont quit, amazon closing in at 1,000 mark per share, its at 996. A fund manager, why hes trimming positions. Fun fact, jeff bezos will be the richest in the world when amazon hits 1,000. Exceeding bill gatings at that point. Wow. Diesel pickups rigged to pass emissions tests, but shares hit, down roughly 2 on that story. We have the full story coming up in a little here. Tax reform seems to take a backseat to health care for the moment. House ways and means chair kevin brady joining us and whether he and the white hous
Im Brian Sullivan and power lunch begins right now. And welcome to power lunch. S p and nasdaq in danger of posting their first declines in eight sessions. Its not just amazon hitting new highs. Carnival trading at alltime high levels back to its ipo in 1987. Netflix and 3m also at record levels. Im becky quick. We begin with breaking news from the Federal Reserve and steve liesman, we meet again. Reporter brain ard with some very interesting comments saying the rate hike is likely appropriate to happen soon and reduction happening soon as well. It should be on autopilot. Its her comments on the issue of full employment and slowing inflation saying they are at odds. Slowing inflation could prompt her to rethink her view and her forecast for additional rate hikes. She said recent data has been lower than expected and theres little sign of page inflation heating up. Inflation numbers are moving away from her forecast. The trump tax cuts could equal 2 in the first few years but most of th
Well take you through live for her comments. She will be asked about some of the biggest issues facing business and tech and i imagine some politics, too. You would imagine so, yes. This is the final hour of trading for the month of may, so your last chance to sell in may if you were so inclined. The nasdaq, of course, has been the big out performer. Discuss whether it is time to sell some of the high flying tech names. Well see where the market on close number is. As we head into a traditional i dont like to talk about the traditional. Hasnt work that great. Well talk more about them, dont worry. Begin with netflix ceo making headlines at the conference a few hours ago. Our Julia Boorstin is on the scene with more. Julia. Reporter hey, kelly. Thats right. Netflix ceo reed hatings tells me he is scared of amazon, really scared as amazon ramps up its investment in original content. But he says he is going to broaden the library and grow the subscriber base. If we try to out amazon amazo
Beautiful sunny day in new york, and we have another record day for stocks, despite a not so stellar jobs report this morning. Were going to look at whether this is still an opportunity to buy in this market coming up in a little bit here. Its kind of a peppy song. We can just play it the whole time. Sure. Walmart shareholder day is underway right now. We have fresh remarks from the ceo in a few minutes. Google is out with details of its new ad blocker. We cant wait to talk about this, one option could be paying to see content without any ads. Wonder how thats going to play with certain millennials. Theres a lot to unpackage in that story. Life after professional sports, Franco Harris and Charles Smith from the nfl and nba respectively will join us from the exchange talk about transitioning into the Business World. We always ask our celebrity guests what their biggest money mistake was. Charles smith has made it his mission to help professional athletes transition into life after athle