Google, amazon, intel, and many others after the bell. Coming up in just a few moments, well talk about todays pullback much more with Hayman Capital Management founder kyle bass will be good to get his thoughts especially on china. Joining us for the hour, cnbc contributor stephanie link is back from nubene are you taking a chance from this pullback to do anything today . Its an earnings bonanza. Im still way behind in the Conference Calls that started last night but yeah, during earnings season, you always get exaggerated moves. So i actually am looking at the fundamentals and trying to identify where there is opportunity. Zille yix this morning was indicated down 6 last night and only opened up down three, but i still think that is an opportunity because they derisked the numbers bristolmyers opened flat, but actually that quarter was really good, bought a little bit of that so im lacking for opportunities slowly, because the macro, obviously, weve got a lot of questions still. So,
Earnings amid an uncertain economy and we will break down the results and a look at why jd. Com is bucking the slowdown. Caroline crypto 6 Bitcoin Custodian bitgo the cl will join us later to discuss how and why they did it. Lets check in the markets and there is a slowdown on the border markets. The nasdaq is slowing down. When you look the best the nasdaq 100, we are seeing nervousness encapsulating the story in china, the macro implications of what that means for the u. S. And investor sentiment. The twoyear yield dipping down. We are seeing 4. 94 on the twoyear. The pound, this is the inflation anxiety gripping through the u. S. Inflation is hot in the u. K. 6. 9 . The pound is the outperformer when you look at the key core currencies. One key currency, bitcoin up 3 10 of a percent. The language at this level we languish at this level. Ed we will have a big emphasis on china on the shelf. Ed on this show. Jd. Com beat expectations. The stock, u. S. Listed shares down 3. 6 . We will
Big tech earnings. First, stocks struggling to stay above the flat line the s p 500 up 0. 2 . Weighed down by banks and other older economy areas. The nasdaq outperforming up 0. 9 right now. Relief rally in amazon after some relatively reassuring results from the company last night. Tech also finally getting a bid after its been down more than 2 for the nasdaq this week its a painful week if youre in tech, even though fundamentally the big tech earnings havent been bad. It was a little reveal of how crowded the stocks had gotten and, perhaps, how much faith had been placed in them that they were going to be able to blow away numbers meta getting a little bit of a bid today, too its a little bit of a rethink of the immediate selloff in stocks like alphabet and meta that didnt necessarily seem to match up with the numbers. Checking on rates the tenyear note yield a little higher but still below 4. 9 and below the 5 level we reached on monday its been a busy week for Economic Data that gd
Thanks, simon. We begin this hour with trading troubles in the market. The three big areas were focusing on macro, fundamental and technical, and dominic chu will lay out the bull and bear case for each. Dom . Theres strong and theres a lot of them on both sides of the equation. Sure. Lets talk about the macro Bigger Picture scale first. First of all, you have at least whats perceived to be some economic strength or resiliency. Maybe not robust growth. Still, in the eurozone and the u. S. , yes, i know the eurozone is stepied at best and may be slipping back to recession but its holding in there and the u. S. Holding it better than most economies out there. Thats kind of the bullish case if you want to see it that way. Take a look at china though. Slowing growth there. Growing faster than any of us out here, but, still, that slowing growth may be a huge case for the downside of chinas economic woes really deepen as the market it your miles condition. Lets take a look at whats happening
Billion in market cap. That is equivalent to three teslas, three yahoo s, two netflixes, or one mcdonalds. So does the stock have further to fall here . Could this be the best opportunity to buy apple the whole year . Guy adami, what do you say . Thats real cute with the sock puppet there, mel. If the puppet fits, man. Listen, tims been on this. Dan as well in terms of the price reaction over the last few months. Its definitely hit a soft patch. Is it the best time to buy . I dont think so. I think technically now it sets up to move toward levels we last saw in mid december and a couple times in january. Effectively 105. Doesnt mean the companys broken. Doesnt mean its not a great stock. It just means technically thats what it should do. What could it be a cause of . I think this china move has farreaching ramifications. Who knows if its margin calls manifesting themselves in the selling of apple . It could be a number of things. But think 105 is a level you look to on the down side. W