Historically a tricky month. How much, though, does it have to do with the turn were starting to see and the data . The calendar itself, sure. The data are what they are in terms of performance but its want been bad when you have the market up, 10 or more. To me thats one of the things you keep in the back of your mind. The seasonal weakness was mostly felt in august. Either the turn in the data or just the fact that were not being able to escape the late cycle back drop. At least psychologically. When you have employment down to 3. 5 . The fed has been tightening for a year and a half,ist time to wonder, how much longer can the cycle last . Theres not much to observe in the numbers, aha, its here, the soft landing is a fantasy, its not going to happen. As many have said in the jobs number is consistent with a soft landing. Who knows. Consistent with descending into Something Else . I think the biggest risk in the near term is that longer term yields keep going up, and not just because
S p500 is 10 points away from a new closing high. We will ask your experts over the final stretch including that man right there, tom lee. He will join us in just a few. Lets look at the scorecard with 60 minutes to go in regulation, a brood day, way more up volume than down. Nasdaq, too, 16,508. That would be a new closing high. There is the s p, we are 9 points away. How about the meme stocks, they are off to the races. Gamestop, amc and blackberry. And tech it is outperforming on a day yields are lower. Now go up 1 as yields fall and stocks continue to rise. It takes us to the talk of the tape. Is it still a bull market about to take its next leg higher . Lets ask your panel. Now thank you for both of you here. Become back, everybody. All right, liz here we are, nine or 10 points away. I read here that you say if you take out alltime highs a new pull back begins. I thought it would confirm the fact that we have been able to rally back sharply and set us up for what is ahead. Let me
Story here for stocks. We could look at a record close for the market the dow is up 63 but coming off its highs. Courtney reagan with stay closer look. The stocks falling a bit here as the dollar strengthens, like you mentioned, those comments from President Trump to joe kernen in davos. We have found some footing lets see what happens going into the final hour here not a repeat of what we saw yesterday when we saw this pretty fast fade around the european close time. Its the big m word thats being discussed as the main driver for this rally. Momentum thats taking equities higher there are commentaries coming out of the blue chip dow earnings, like caterpillar, and bellwether indicator like 3m we do have that phenomenon happening today. Caterpillar, 3m and Goldman Sachs helping to lift the Dow Jones Industrial average health care, materials, among the strongest sectors. And biotechs etfs, the hxb and bxi. The aerospace and Defense Group is hitting a new intraday alltime high today led
For the first time in ten years. It begins with tax day on capitol hill after an unexpected delay yesterday, House Republicans set to officially roll out their tax reform plan this morning plus, dead serious about russia facebooks ceo, Mark Zuckerberg, promising increased efforts to police content on the social media platform and trouble for tesla, the automaker missing a model 3 production goal, reporting its largest ever quarterly loss. Right now, House Republicans and ways and Means Committee chairman kevin brady meeting on capitol hill as they get ready to reveal their tax plan. It calls for a corporate rate cut to 20. The repatriation would be 5 cash, 12 other assets, 30 of passthrough income subject to a lower rate there would be four tax brackets for individuals, the top rate remaining at 39. 6 and a phaseout of the estate tax. The journal saying that corporate will be permanent, with no phaseout although this has literally changed four or five times in the past day or two. I th
Four days. The story here, Home Builders and housing. Home builder stocks getting it hard on the proposal to slash the mortgage cap in half were going to give you more on that coming up with somebody angry about it as well three big stocks were watching this hour. Apple, Company Getting set to release its earnings tonight a lot of questions about the iphone 8 and x facebook shares down after Mark Zuckerberg said he is serious about facebooks russia response and he will boost spending to police content thats raising concern about future profit and margins. Time warner taking a hit much more on these three stocks ahead. Lets get straight to this big tax plan we have our oreporters covering every angle for you. Theres going to be four tax wrack ets. For households that earn over a Million Dollars of income. The next tax rate will be 35 . That will apply to income between 260,000 and a Million Dollars. The 25 tax rate will apply for income between 90,000 and 260,000. The 12 rate, the lowes