Somehow we didnt get with some tit title wave of selling including me i thought it would be bad the sure of congress or trumps tweets, that often seem out of step with folks like washington, jefferson, lincoln today three of our more president ial president s. Here we are after one more whole hum day after we hit multi entry level highs. Nasdaq tacking on, its worth noting we did make it out of here unscaved. Why . Why was i so concerned because historically septembers the worst year for the market. Since 1928 the s p had climbed to 1. 14 since september this year up 1. 1 . Septembers different, its a month i feared every since i got in the business, thats because of the not because of the big picture in history but from my personal history when you run a Hedge Fund Like i do, discipline says you should sell everything, lock in your performance, lock in the term and only day trade for the rest of the year. I did it many times in my hedge fund that always breeds automatic selling. If yo
Really should be getting a lot of focus i know were talking a lot about small caps and all the talk about the f. A. N. G. S building, visa, apple, mcdonalds all great years and now the transports have joined along as well. The transports were just waiting there, waiting to move higher they were down 25 , 30 boss so as the market looked like it was fine, everything was great they were getting pummeled so over the last week they started moving up. Delta yesterday came out and said, you know what. The hurricane is not that big of an issue they still gave better guidance so i think, you know, as pete has been saying and trying to get me to put more money into the market. You should. Ive been doing it on dips it i like to buy on dips rather than highs but nothing wrong with that, pete. Not when the highs go higher. When you get a new record every day. The highs keep going higher so then what do you do in the highs keep going higher. You always look for opportunity. Thats what we talk about
Welcome to power lunch. Green arrows across the board. Enough to push both indices to record highs. Tesla is rallying a new call on the street and its the most bullish one out there right now. The analysts who made that call joins us later to make his case for 500 a share. Meantime netflix is also rallying its price rates at 225. Heres what else is happening at this hour. The Senate Commerce committee unanimously approving a bill to get selfdriving cars quickly to the market. Secretary of state, Rex Tillerson knocking down reports that he may quit, saying those reports are irronus and he has never considered leaving. Job growth beating estimates for september but the number down from the prior month. Hurricanes irma and harvey to blame for that. Thanks very much. Im Tyler Mathisen and what a timely day to be here in boston live at the Cambridge Cyber summit, a joint effort of the institute of cnbc. There are tech leaders and ceos and government officials from Law Enforcement, the Intel
Everybody on the desk likes visa. Yeah. And with good reason. And you cant fault jim for saying what he did considering what the stocks continue to do. Oh, certainly. I mean, these are two bellwethers really in terms of getting financial exposure you know, we had long talked about, well, how do you get the financial exposure do you look at the Big Five Banks . There were moments when we questioned and were skeptical about that but never did that with visa and mastercard and now youre witnessing specific with visa as it relates to europe, thats really gaining momentum right now. Its an environment where you think about it, scott, just with retail sales kind of suffering, visa and mastercard are still doing well im long visa. A lot of us on the desk are well im staying with it. Carrie, you own visa, up 38 year to date and mastercard up 42 over a year they tracked the same mastercard has outdone visa and in that roughly the same pe. Anything not to the like here . We still like visa . We
Its market cap now almost 900 billion. Josh, stocks trading at be a alltime high, all the way back to the ipo in 1980. Yeah, well, and deservedly so look at the size of this business look at breadth of everything that they do and how it all works together look at the Services Revenue look at the fact that the jesus phone is upon us, and people are waiting on line in every cosmopolitan city in america and soon to be the world you know, i think you have to give these guys their due, and i think big picture what we did on the show with ale is very important two weeks ago. You had those rumors start to surface from the quote, unquote asian suppliers. Every time they were about to release a new nope, we hear word that orders are not what people thought they were or there was some kind of technical glinchings sometimes both. We rightly dismiss that talk and rightly point it out that we did it with the 4, the 5, the 5 s and 6 and hopefully people didnt overreact to the headlines because right