Parts here today. Some are literal. The princess cruise ship is one. Theyre watching throughout the day as it makes its way to the port of oakland. It is supposed to dock around 3 00 this afternoon. Well talk about that, oil off the bat with our buddy phil flynn out in chicago, price futures group, senior strategist at cme. We talked about it last week, phil. You and i were going back and forth about russia and saudi arabia. Now we have the true price war breaking out that has consequences in places like texas and north dakota. Take us through what youre thinking about today . What im thinking about is were learning today, not always is a low price for oil good for everything. There is concerns for banks, oil producers, the general overall market. Having said that, there is some hope, you know, right now with the talks of stimulus. Maybe we can pull off the lows right now. There are old saying in the business low prices cure low prices but this breakup of opec and russia, this opec plu
Cut wall streets Immediate Reaction was pure suspicion. Oh, he doesnt have the heart in the rate cut hes not as worried as he should be hes being dragged kicking and screaming to this rate cut because things are weaker overseas, not here thats why the averages initially got hammered before the market peoplely came to its senses later in the afternoon. Dow only closing up 36 s p advancing 0. 03 and nasdaq declining 0. 11 . The u. S. Economy does have a lot of strength. It does. The rest of the world does have a lot of weakness so we got what pundits were calling a hawkish cut. Theyre so clever, meaning its the last rate cut or maybe the penultimate rate cut apparently that wasnt enough for some money managers. What do they want they were so disappointed they wanted to be surprised and wanted powell to tell us hes enthusiastic about easing and it will find a way to strongarm the others the bulls wanted Bill Belichick fed chief, okay. Lets get this done. Do your job chairman who wont let
Just plain out mandate change. All of these things play a role including on days like today when the dow slid 10 points and the s p climbed 1. 3 and the nasdaq gained. 67 . [ applause ] some change is glacial and therefore uninvestable, but other types of change are swift. And those are the ones you need to find so you can buy their stocks on. Buy, buy, buy with abandon. I love behavior change investing. It could be incredibly lucrative and when you have a behavior change theme you can use selloffs to buy stocks at discount prices that are based on those changes as long as you dont think theyre really fads. Lets start with the obvious one for today, entertainment. How and what people consume and where and when they do it. Today the stocks of traditional Entertainment Companies like disney, time warner 21st century fox, via com, cbs and discovery got annihilated. [ shots fired ] i dont have much more to say about disney later, but suffice it to say now that disney raised questions in th
Peter out, crash, i dont know, it has to run out eventually. On the other hand, no one could seem to agree on what might cause the rally to end. And despite todays down action, dow slipping 54 points, s p backsliding 0. 53, nasdaq declining 0. 56, i dont think its over. Its just morphing into other areas not yet picked over, which is what happens when much of the s p 500 is higher and the russell 2,000 index and small capitalization stocks goes up for an astounding two weeks in a row. I cant tell you how rare that is. Hallelujah. Sure, you heard people say maybe trumps appointments will bring things down, or maybe his trade policy could cause a backlash that could hurt our exporters. Or the media wont let up on him and the recount story might make waves, or the dollar has been too strong since the election. Or even that his reaction to the death of fidel castro with a couple of hard line tweets is to flaky to gain. But honestly, i heard nothing that stuck. Nothing is going to repeal th
Nasdaq declining 0. 56 i dont think its over. Its just morphing into other areas not yet picked over, which is what happens when much of the s p 500 is higher and the russell 2000 index of small capitalization stocks goes up for an astounding two weeks in a row. I cant tell you how rare that is. Sure, you heard people say maybe trumps appointments will bring things down, or maybe his trade policy could cause a backlash or the media wont let up on him and the recount story might make waves, or the dollar has been too strong since the election, and trumps meddling in the affairs of the United Technologies indiana carrier air conditioning plant is just the begging of how hell interfere with business. Or even that his reaction to the death of fidel castro with a couple of hardline tweets is just to flaky to gain. But honestly, i heard nothing that stuck. Nothing is going to repeal this changes in tax policy or the potential defeats he might suffer in congress or the problems with the debt