The ceo of boyd gaming will discuss where he sees growth. Today we have henry tao, steve grasso. Should we be as concerned over whats taking place in china . I dont think the u. S. Market should be concerned at all. In china only 15 of household assets are in the Chinese Market. People are not spending according to what they make in the chinese equity market. I dont think there will be any substantial impact on the u. S. Earnings at all. Do you buy that rick . Not even a little. I dont disagree with his information. I do think there are many aspects to china unique to china. Many have no problem when commodities were racing and copper was racing saying this represented global demand. Maybe it was chinas demand. I think that this reversal may not be exactly correlating. Lets speak or let the market speak for themselves. The dollar index, bund and dax all hit the same levels in july. When i see the dow, its not everyones favorite gauge of value, but the lowest levels since february this
Ugly off 8 1 2 . Is the selling fully chinarelated here in the u. S. Or ocould there be something else, something bigger and deeper perhaps, guy . Lets start with you. Tim talking about china, i think it has a lot to do with china. When the markets down 8 on top of the moves weve seen over the last couple of months it has to have something to do with that but i also think its somewhat technical in nature. I think earnings have a lot to do with it. I think earnings have been okay but i think the chasm between eps and revenue continues to grow. I think technically the markets done everything right until last week when we traded back up, tested you willtime highs, seemingly failed, had an outside week in the s p without getting too wonky, now were going to test again those lows we saw last week or so, 2042. If it holds there, off to the races. If it fails we have to have another conversation quickly. The russell, the iwm, 121 has been the level, closed lower today for the first time in a
The fresh rears, two the year yield now is at. 8 , just below that we are at a level we havent seen since april of 2011. What is that screaming for right now . The most interesting thing is this is happening, these yields moving higher even as we are getting this nice rally with the dow up 250 points and counting. Coming up Richard Fisher will join us at the Stock Exchange to give us his odds for an Interest Rate hike in a couple of days. He is the perfect guy to have on today. Tesla getting some high end competition. Could porsches electric concept car really give tesla a run for its money . Weve got the video, the super cool looking car and both sides of that story coming up. And Mark Zuckerberg fielding questions right now at a facebook town ham. We will bring you the late fres that event throughout the hour and you can choose to like or dislike. Yes, you may do that now. You will have a choice. Isnt that interesting . Lets get right to bob pisani who has been tracking this action a
We will hear from one asset manage who are says now is the time to buy into this beaten down industry. Where is the Broader Market heading as we wind down here. Were winding down the year . Its only october. Christmas is around the corner. Morgan stanleys adam parker and David Rosenberg will weigh in with their view of what happens as we make our way through the Fourth Quarter. Uber seek to go raise another billion dollars and you wont believe how much that could put the company in terms of valuation. Details coming up. Lets get to our Closing Bell Exchange with the dow down 30 points and we have had some Economic Data out this morning, a lot of cross winds in the earnings arena as well. Anthony chan from chase is with us here at post 9, so is Kenny Polcari and our own Rick Santelli joins us. Here we are again not a lot going on for the major averages. There are certain individual stock stories certainly but overall the market just me and rings here. Its meandering today but it wasnt l
So were 15 points away from that or thereabouts. Sure. Getting close. Apple also hitting new highs. Its like a market of its own. We have the analyst who just hiked his price target on the stock to 150 and satisfiesys this company is on the way to a 1 trillion market company. In case you hadnt heard, the buzz is theyre working on a car now. That would be one of the new projects. Well look into that a little later. Lets show you how the markets are trading today. Hasnt been the most volatile session. A lot of eyes on the negotiations between the eu and greece on the debt negotiations. Something else we will talk about, but right now the dow is up 12 points. 22 points away from an alltime high. Do i have that right . Yes. The sn is p is up 1. 45 in record territory. Look at the nasdaq 5,000plus is the old alltime high set back in march of 2000 and, boy, are we getting cleser. These are the round level that is will get people talking, talking about the tech cycle this time whats different