Good friday morning. Welcome to squawk alley with Morgan Brennan and jon fortt at post 9 of the New York Stock Exchange obviously watching these markets here dow is down 331 after yesterday, deep in the red. The dow, the s p, and the nasdaq are all on pace for their worst week of 2019 tech names getting hit pretty hard, apple, alphabet, facebook, intel all down around 2 , guys this is a period in which trade concerns might result in selling thats a little more indiscriminate than weve seen in recent months and among the tech names, a look at cisco thats down closer to 4 . Some other cloud names not doing so well. You see, dell is down more than that you know, Network Appliance well, that one has its own issues but certainly, hp down 5. 5 a lot of these trade issues rippling through not just the names that have higher valuations or have high flyers, but some of these core enterprise tech names, vm is another onedown almost 8 in this trade if you look at all the major averages, were now
Leaderboard. No bubba watson. Its right behind you there it is there it is. Caterpillar, apple moving up, boeing, intel, verizon, theyre all there. Mandy is still down under. Kayla tausche down on the floor of the New York Stock Exchange. Great to be with you here on this monday afternoon. We are watching the dow snapping that sevenday losing streak. Also seeing its first 200pluspoint gain since the middle of july. Bob pisani is here with me on the floor to look a little bit deeper into what exactly is pushing the markets higher. Is it all industrials today . No, it is pretty broad rally. 41 advancing to deshriclining stocks. Seven days down in the dow industrials. That doesnt happen very often. Were due for a bounce. Theres hopes for stimulus in china for all the wrong reasons. Look what happened to china today, both shenzhen and shanghai up 4 to 5 . Economic data was very disappointing overall here. Ppi and trade numbers were terrible. But shenzhen and hang shy both rallied, hong kon
Welcome back. Time for the last word. Jim chanos is our guest today. We started out talking about china. Why dont we end up there, too . Avoid anything with the chinese property markets, steel, cement, iron ore. Can you short australia too, jim . Certain parts of australia are going to feel this, not the whole country. This is the bubble is just being blown bigger and bigger and bigger and it is hard to avoid. Three years ago this was somewhat controversial but when a property bubble is visual, you cant miss it. Emerging markets somewhat dependent on china, too . Asia . Depends. Some are. Some less so than others. To be on your radar screen. Should just be careful, anything dependent upon the chinese economic miracle, i would be careful of. Bigger shorts on, stuff we have been talking about for years . Broadening out from china to construction equipment, things like that. Jim, thank you very much for being here in studio. Always a pleasure. Andrew, jeremy siegel, thank you guys so much
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