Well see if the fed numbers have any effect. In our road map this morning. Tesla slapped with a downgrade on valuation. Well hear about the companys future from the ceo. Microsoft set to cut more jobs. And apple watch sales plunge 90 . Well run through some of those numbers. First, futures are up sharply. Steps by chinese officials to stabilize markets and restore Investor Confidence failing to start the slide. A lot of the trading, brokerages people are obviously upset. Companies are being asked to buy their own shares in the national interest. Its getting interesting. I think that its terrible. I think that i want to be really clear about this because panic is a bad, not a strategy. Someone was saying on twitter, is it a falling knife . This is 100 signwayteinways coming at you. And this market is a little bit bigger than we thought. Its only 40 of the gdp but there are some horrifying statistics and these numbers are all phony. 74 of the stocks arent even trading. You cant get out o
68 points and the s p declined 22. 4 and the nasdaq fell fell. 70 . When it comes to everything from aerospace and elevators consumer packaged goods, coal oil and now computers and cell phones if its getting sold in china its getting obliterated i think china became the marginal buyer of everything the place where all hopes and dreams have come from in that thesis true or false is now fall apart because of that chinese stock market crash earlier this month. That was the sign that growth has peaked in china. Money managers now think that its all down from here. No, no china, mighty china is now regarded as a paper tiger. Lets take apple, the subject of endless, after reporting one of the greatest quarters i have ever seen in all my life. China has become a larger and larger part of apples growth and the ceo makes no bones about how it will ultimately become the biggest market and totally private Conference Call and with the ubs analyst Steve Milunovich about a potential slowdown in chin
Half hour from now it looks likes the s p may be down ever so slightly. European markets were in the red last time i look thank you for spain and for italy, maybe one day well even get a look at the bond market. The tenyear note yield is important right now, particularly given that 2. 14. Wow. Wasnt it supposed to be a 3. 14 yes, i think they were talking around june, at least 3. Not the case a big story were going to talk a good deal more about is oil. Lets get to our road map and start you out with some stocks oracle, shares are up sharply on earnings well look at whats moving that stock. Later, by the way well have an sclouf on interview with mark hurd they want to take a major stake in American Airlines, what is that all about . Smoke em peace pipe . Well try to figure that out to the best we can by the way, what as to yim cramer and Homer Simpson have in common adobes ceo shows us. Hes game. Hes got a demo of its newest product. I want to see that. We have so much to talk about, i
Take a look at the stocks across the board where are were seeing steep gains. Chesapeake up. Marathon up 5. 5. Conco phillips, hess, all big winners on the day. Does this rally continue . I think in the last couple of weeks certainly the place not to be has been energy in this quarter. I think this deal this morning, and i read jeffs note, which is fantastic, and the news over the weekend regarding opec, i think it gets you more sneptiveized to add back into energy once again. I dont know if i go to the refiners necessarily. I actually got long that this morning. Eog, concho, those shale survivors, you want to begin to put them back on. You own some of the refiners. I do own some of the refiners. Marathon is up today. Elliott took a position in there. I think when you are looking at refiners, you had this is a consolidation play. There are not too many refiners out there. You have lack of capacity coming on, and over time youre going to get pushed by these to consolidate. Is there a fu
Open on the first trading day of the new month. President elect donald trump making the rounds in his first public event since the election including a victory lap in indianapolis where carrier will keep roughly 1,000 jobs in the u. S. Both wti and brent crossing the 50 line one day after that opec meeting. But first up, it was a november to remember from a president ial election to record highs for stocks, the dow leading the three major indices with a 5. 4 gain, the russell beat them all though up 11 for its best monthly performance in five years. Weve talked many times about why that was, jim, and whether that continues. Well, look, i think that people are just saying that one of the reasons why those companies havent done well is theres too much regulation. Theyve actually bought that. Whether you think its true or not, they have bought that notion that regulation is actually going to be stripped and these companies are going to make more. Now, i think that were a little ahead of o