Those are the two worstperforming sectors over the past five days. Investors are watching apple and nvidia ahead of its critical Earnings Report next week. The many pressure points for stocks, rates, earnings, china. Of course the fed too. So whats an investor to do . Lets ask dan greenhouse. Chief strategist here with me at post nine. Its a growing list of pressure points, right . It is. Fixated on the apple selloff. The rates have backed up. At least today theyre backing off which is maybe why the market is kind of hanging in. How do you see things here . Listen, technically obviously weve sliced through the 50day moving average on a number of indices, if not all the indices. In terms of apple, apple and those types, they were up 60, 70 , meta and nvidia are up 300, 400 off their lows. In the context of whats happening from rates, when rates bottomed earlier this year, the tenyear is up 100 basis points and the nasdaq is up the whole time, the s p is up the whole time. I think ultima
That was higher than anticipated and that all but nullified the pop that some of the banks gave the market on a series of better than expected reports. Jpmorgan and citi have gone negative. Bright spots on an otherwise topsyturvy day. Boeing is one of the worst performers today. More issues with the 737 max emerging. That stock down more than 3 as for tech, the biggest loser. Every name losing some altitude today. Meta one of the worst performers along with nvidia. Our talk of the tape. Whether stocks can have a lateyear surge or not. Two market watchers on two sides of the argument, bmos brian belski says investors shouldnt fear rising rates and Eric Johnston argues stocks are going a lot lower. Both join me live, as you can see. Good to have you both with us. Brian belski, youre the bull. Ill go to you first. This week inflation sticky. Consumer confidence is waning. What allows to you remain bullish stocks . Thanks for having us. We appreciate the opportunity to clarify our stance.
Environment, as well. A good day for small caps. Yields are down. Tech is up. The big names getting a nice lift. Speaking of, the mega caps it take us to our talk in the tape. Assessing apple. Once the biggest and most important stock in the market. Now this tells a very different story. The share is the worst performing in the group this year. Will tonight get the stock back on track . Let us ask our panel. And requisite Capitol Management and joe terranova. And they are both cnbc contributors. Great to see everybody here. And you get the ball first. What do you think about tonight . I will take the ball and run with it. I think a lot is priced into the stock. First if you look at the chart technically over the last one year. As joe can attest to perhaps lower lows and higher high prices. But i think that is going to continue to grow. There is low expectations. Im going to stick with tim cook. The bad news is priced in and the stock is trying to make a balance from the longterm suppor
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