It wasnt done tightening. Then we had some banks collapse in march. Then we stopped worried about the fed because we figured the economy had it. That led to a wholesale shift into tech. A multimonth run into tech, especially the magnificent seven. So the consumer situation coming together now after weeks upon weeks of pain . That may be what we saw today. The nasdaq jumping 1. 35 . It was a total shakeoff of the endless selling. It didnt happen until later in the afternoon. It is hard to believe the system can repeat itself, i have to say the setup is very similar, even if the starting point is different. We had a replay from march where recession from demand destruction overwhelmed those by inflation or spiral growth that seemed impervious to all the fed rate hikes. Maybe it is the start of something bigger. Hey. Come on. After what we have been through, a few hours of larger prices looms larger than it should. To give you some connect here, lets rewind to spring. We had the collapse
Successful how kylie genre era jenner takir makeup to a new level. Tors carving out some gains. Cisco systems have the most positive the stock is on track for its fifth straight day of gains. Now down more than 20 from it all time high. Another day, another record high for bitcoin. Breaking 8,000 for the first time its now up almost 750,000 in 2017 michelle hey, there. Live in auburn hills, michigan the white house worries about u. S. Jobs being outsourced to india. Today an Indian Company is moving jobs to the United States the new Assembly Plant where they will assemble new off road utility vehicles they plan to hire 250 americans in the next few months and 400 more by 2020 ahead this hour by interview with the chairman and what he told me about Corporate Taxes and nafta. If he has any kmconcerns about. What Republican Congress wants from d. C. s big tax plan back do you. We look forward to all of that see you soon we begin with comments from the president. He spoke a short while ago
Opec meeting, psych cyber monday today. The benchmark yield around 2. 33. Our road map begins with the holiday return of the consumer black friday sales topped 5 billion. Cyber monday expected to set online records. Retailers are in the spotlight. Futures flat ahead of the first full trading day ahead of thanksgiving. And the Koch Brothers making a big bet on magazines, backing a meredith bid to buy time inc. Adob bee analysts expects consumers to spend 6. 6 billion this cyber monday. That would be up more than 16 from a year ago and bigger number than the 5 billion adobe says was spent online on friday. We talked about colder weather, and lean er inconvenienventorie reports that in store traffic was down maybe a percent, maybe a little more, but not dramatically. Thats a good test of exactly how low expectations had been for basically physical scores. They dont look like they will broadly give back the pop they had on friday. So many things working in the background in favor of having
Telling cnbc we may not need the type of tax cuts being proposed. We have those details coming up. And a major deal in the media space. Maybe youve heard about it. It brings together bbetter home gardens and people magazines, Meredith Buying Time Inc for nearly 2 billion. Will this pave the way for more deals especially in the media sector where theyve been trying to get them done we have that coming up in a little bit. First, our top story today, the cyber monday surge amazon shares hitting yet another alltime high today. Courtney reagan joins us from an Amazon Fulfillment Center in robbinsville, new jersey, with the very are you packaging anything and sending it off as well reporter no, no, im not allowed to touch anything, so i will not be touching anyones packages dont you worry about it amazons prime day, bill, actually still Reigns Supreme at least as far as we know for its biggest day on record. Last year on cyber monday, amazon shipped 64 million items worldwide. Thats what was
Power lunch starts right now good day, everybody. Welcome to power lunch. Im Tyler Mathisen as michelle just highlighted, the dow and s p 500 hitting records again. But we are well off those levels at this hour nasdaq basically getting slammed. Down more than 1 . Big selloff in tech. Check out what is leading that nasdaq 100 lower Lamb Research down so auto disk down 15 now applied materials, invidia also in the tank today. In fact, the whole Semi Conductor industry on pace for its worst day in almost a year more on this group coming up forget ten, folks. Lets move on to 11,000. Bitcoin breaking past 11,000 just hours after topping 10,000 for the first time ever. Everybody is talking about bitcoin. Crypto currency up more than 30 in the past week and now up well over 1,000 this year, brian. Its like an auction. Do i hear 12,000 im Brian Sullivan heres what else is happening at this hour. Tyler drilled down on bitcoins record run the nasdaq planning to launch Bitcoin Futures next year.