David time for our daybreak first take. We discussed the top three stories of the morning. First up, equities on the rebound. Second, the outflows from the bond funds. Rd, dreamers did not third, dreamers. They did not get to an agreement in the senate. Michael mckee, we want to start with u. S. Stocks. We are back where we started the year, despite the turmoil. U. S. Stocks are where they started the year. Much. An stocks, not so they have lagged behind. Are we in the midst of a rate hike tantrum. We had seen a thin reaction. There are two points here. Performance in five years, that is silly. We went down, we went up. If you are looking at this, you the to see, not so much absolute level, but what kinds of things are being bought and what is being sold. Other assets are highly risky. Did come in and clean out the safelyso you can more move up. Make the case that equities can still rise. What happened the last couple of weeks, was it a tantrum or did weeks the constructive moves . Has
Been up one and 1 . But right now, the s p had been up 1. 4 . After last weeks volatility, the question is whether the tip action today will last considering that we also saw frenzied buying friday. We have major averages on pace for two updates in a row. We have into the bloomberg and take a look at the hash g btv 927. Much of january, there are updates. The best month since 2016. February hit and we were down. First twoace for the updates of the three major averages since january. Right now, the s p 500 on pace for its best to up days since the election in 2016. Leadership coming from names including apple, exxon mobil, and j. P. Morgan. These were down in a big way last week. Apple a trigger in some ways for the selloff we have seen. They had a disappointing quarter around the iphone sales and guided the stock. It is still 200 below the moving average. They are not out of the woods yet and perhaps not the selloff. Exxon rebounding nicely. The stock had been down about 17 during the
No. What does that say minus 7 degrees whoa. Andrew, did the lawyers have their hands in other peoples pockets in their own pockets. Lawyers target joe this time, he said it not me you gave me that one. It is that cold thats making davos look like miami. Youre not outside. No. No we got glass here. Can you see . Beautiful makes all the difference. We have a big show. Well tell you about it in a little bit you have some cool guests we have awesome guests. Unbelievable guests. You cant see them, but kenny d. Is there did kenny step up to the plate with russell and some that was him, right . Russell wilson will be joining us Larry Fitzgerald will be joining us bob kraft will sit in with us. Kneel ca Neel Kashkari will talk to us this morning also. Hes not a Football Player, right . Kashkari no. No he looks like a Football Player youre right. Kind of does a little like the rock. Well check back in with you in a bit. Im glad that you are in the warm its still cold a little bit are you weari
Hell tell you why, he debates whether hes rights. Heb it was amazon, it might have been apple too, netflix, apple is hitting an alltime high. 156 a share. Well have those details coming up. And then a rare interview, she was the first woman to head a Hollywood Studio back in the day, not too long ago. Sherry lansing will join us. There is a new buy biography about her i cant wait to talk with her on what shed do today. We have mothers day this weekend, may be a welltimed placism of the book, maybe a good gift. I see youre selling the book now okay. I just realized that would make sense. Yeah. Well ask her about that. We do start with retail which is struggling so much. Its jp penny getting hit hard after reporting disappointing numbers this morning. We also have the retail report from the government this week. Courtney reagan joins us with more. Its very hard in terms of the Department Stores. The numbers are down 20 this week. The numbers are bad. Exactly. I think one of the best perf
Verdes. Sarah eisen and mike san tolly holding down the fort at post 9. The nasdaq hitting a fresh record high. A number of big names taking the stage on day one. From his relationship with washington to Driverless Cars to an impact on society. It is recurring panic. People get all amped up that they are going to take the jobs. The jobs that were taken by the auto was 1,000 x, the number that the black smiths have. They call it the labor fallacy, which is technological change causes productivity growth and that lets us produce more of what we can already make with less resources and lets us create. Thats what frees up the spending power to create lots of new things and new demand. Thats what creates new industries and jobs. 100 years later, we look back and think, i cant believe anybody was ever a black smith. Joining us this morning, Karen Swisher is here with us and walt mossberg. Good morning. It is good to see you both. This illustrates the best the ability to take a moment to pond