Good wednesday morning welcome to squawk alley. Im Carl Quintanilla with sara eisen and john fort. Some record highs today. The nasdaq hit one today in the session, the dow has not done so the koptd mike santoli is at post nine to talk about the markets, and the run weve had and the seasonality were heading into last week he brought up the topic on whether the bears missed their good chance seems like that might be the case seasonality works for the whole market,me segments of the marke and momentum we talked about these rotations that happened over the course of the year from small caps to large, sometimes cyclicals worked tech has been consistent if you look at where within tech, maybe you would be encouraged by the fact that semiconductors within technology outperform the overall tech sector its the industrials of tech you only buy chips if you need them, if theres demand for them on the other hand you might be getting to a is this as good as it gets moemts for tment for th. We had
Likely be appropriate in the near term. The fed is also worried about asset price inflation. And remember, the fed always slow and loathed to call anything a bubble says quote several participants expressed concern about a potential buildup of financial imbalances. They worry that sharp reversal of asset prices could have damaging effects on the economy. And on tax reform quote it was noted that the expansion in businessfixed investment could be given additional impetuous if legislation involving tax reductions was enacted. A few participants judge that the prospects for significant tax cuts had risen recently. Back to you, trish. Trish all right. Thank you so much, adam. Joining me right now, bulls eye brief author adam johnson. All right. So the fed is still on track for its third rate hike in december. No surprise there. The markets taking it in stride. Were not seeing a huge reaction. I have a question, though. Yeah. Trish if were in the Interest Rate rising environment. Yep. Trish
Section of target over here. But youre right. If you look at the numbers from adobe. Today alone, 46 of the revenue happening on the smartphone. Its really unbelievable how the dynamics have changed. Were looking at online sales so far today this morning of 640 million. And were just getting started. We had sales yesterday 1. 5 billion. You have sales today. And, of course, through cyber monday. Let me show you some of the ways that retailers, brick and mortar like target are getting people to come into the store physically. Now, this is the series 3. Its full price 430 but the series 1, theres a 70 discount. And then, charles, if you come in and buy an iphone 8 or 8 plus, you get a 250 gift card to spend at target stores. If youre still not enticed, if you purchased 50 worth of stuff today, look at this. Theyre giving you 20 off your next purchase. So theyre trying to keep you and lure you so that you come into the stores. We have people today, i would say steady traffic. Its not, you
Percent. Shanghai stocks down by close to 1 a decline of more than nine tenths in europe there have been some green arrows the dax is up by. 2 the cac is up by a quarter percentage points. Stocks up in italy, spain and london crude oil prices which ended last week just shy of 59 a barrel, check this out right now, down by about 44 cents. Still, wti trading above 58 at 58. 51 a barrel. Now this morning the big news of the day. Publisher meredith buying time, inc. , for2. 8 billion thats the price meredith will pay 18. 50 for time, inc. It publishes wellknown magazines such as time, peopl people. Meredith received 650 million a lot of people raising questions about what this means. Raising 650 million in backing from the billionaire Koch Brothers, charles and david koch are widely known for supporting conservative causes. They say the magazine business is a good investment in the press release koch industry says it will not have any seat on merediths board and will have no influence or e
Just another day of Sexual Harassment allegations, this time on capitol hill with senator al franken pleading for forgiveness today but also resisting calls to step down. All comes the House Minority leader nancy pelosi to take the heat defending john conyers calling him an icon. And then just a crazy case of whos the boss in washington. Mcmulvaney speaks out. Well hear from him in just a moment. Hes the current budget director, and hes also been pointed the acting director of a giant Consumer Protection agency. But heres the thing. Theres a lawsuit challenging that. Essentially leaving two people fighting over one job. What a mess. Tonight, an allstar lineup to cover it all. Former Arkansas Governor Mike Huckabee kicks it off, katrina pearson, the Weekly Standards fred barns, and conservative millenial, theyre all here tonight. Im connell mcshane, this is risk and reward. And on wall street today, well, the dow hit an alltime high. At least intraday. It did not close at a record. Came