About chinas economic challenges, calling the country a ticking time bomb. Lets begin with the markets on this final trading day of the week as investors digest todays ppi number interesting, sara. I mean, 0. 1 is not that dramatic we had a negative revision, but coming off the stellar reception to cpi yesterday, maybe it looks a little bit worse yeah, after a zero percent in june, you dont want to see it tick up to 0. 3 in july, which is what we got, and we know Producer Prices are wholesale prices that feed in, so maybe a little deemphasized because we already got the cpi read but you just dont want to traders, investors are on guard for inflation to hook back up. Right . Like, we hope people are hoping that the inflation data, which has shown moderated inflation, been celebrated as good news, will take us down to the 2 target and the feds work is done, but theres a chance that, look, it could be sticky we still see a really tight labor market where wages are rising we see Oil Prices
Plus, infamous short seller andrew has a new target. Why he thinks the bitcoin is one of the most dangerous trades in the market apple making it official sending out invites for the big iphone 8 unveiling with the stock up 10 just in the last month, will it be a news event we start off with drugs and money. Health care, the best forming record, now the second biggest sector of the s p 500. Big pharma, and big biotech, check out moves in the names like pfizer, bristolmyers, eli lily, plus gilead continue their run. So is health care where you want to be right now . Which is the better bet . Big pharma or big biotech . I got myself in trouble last time no, no, i permit you to answer the question open its a is it a plug . Yes i think we sell. Biotech over regular tech. Its proven to be right at least for 24 hours but weve got to whittle it down ill play the whittle it down game with you. At this point in the cycle, i would go big cap pharma. Not to suggest that biotech is done by any stre
5,000 jamie dimon may be changing his tune first, jpmorgan and citi reporting Solid Earnings but investors were pushing the sell button all day long, citi ending down 3. 5 . Given the quality of the earnings from citi and jpmorgan and the reaction we saw in their stocks, is earnings season going to shape up to be a sell the news event with stocks at record highs . Karen . I agree, both earnings were very impressive on a lot of fronts if you really wanted to you could find things to pick out, as, all right, maybe not the best the only thing wrong with those earnings is both stocks ran up 8 or so before earnings is this Market Pricing in too much you kind of need to be worried i have positions like an alphabet, like a facebook, that have come back a lot at new highs now. And so i gotta think that pretty good earnings are priced in, i gotta think about that how do we hedge against earnings, even if theyre good exactly, the earnings were good dominos pizza, the earnings were good, that sto
Cheese burger in paradise heaven on earth ho hum another month, another new high for your money. The slow meltup marching on. The nasdaq looking at that hitting a new high. The oil and Energy Stocks all the Big Eight Oil names, exxons, chef rons are higher. On the other side of the trade, yeah some of the real estate stocks are lagging, but overrule a good day. What individual names are making investors money today . The casino stocks. Look at that. Las vegas sands are up big on some big numbers from chinas ma cow. Bikky . Good afternoon im becky quick. Here is what else is happening at this hour. A government watchdog said that medicaid was overcharged for epipen from 2006 to 2016. That is far more than the amount mylan agreed to pay the settle overcharging allegations. Construction spending posting its biggest drop in a year in april. A sharp upward division pointing to underlying string. Illinois Credit Rating getting closer to junk. Its debt downgraded after lawmakers failed to app
Policies of President Trump because it seems so clearcut that the move falls on his shoulders given the timing of the advance. Dow rieszing 35 points. Tenth gain in a row. Best streak since 2013. S p climbing 0. 04 even as the nasdaq declined 0. 43 . Look, im not disputing the calendar here. It would be ridiculous to claim that trump has nothing to do with this rally, the one thats named offer him. In truth he deserves plenty of credit. But when i listen to treasury secretary Steve Mnuchin this morning and betsy quicks excellent interview on cnbc, i recognize perhaps were pinning way too much of the game on the president s coattails. Yes, mnuchin made it clear that the stock market can be a report card on the president s job, and right now its all as. But lets give some extra credit to others before awarding trump sue ma couple law day as the beginning of his term. I recognize this is probably the single most probusiness administration ive ever seen. Once again the president called in