Do you remember what the significance of that year was . I know you know but for those who dont, that was the introduction of the iphone which literally changed the way we use devices with those multimedia functions and enabled and opened up several doors of opportunity for us to have this conversation today but on a regulatory front which is more in line with your questions in the 1980s the sec launched its first cell phone spectrum van and through a series of those decisions, based on that, we are now seeing that launch this Global Mobile revolution. Of course, revolutions often happen in different phases and different stages so now in terms of mobile revolution or evolution we are talking about the fifth stage in some ways but not in all communities and that is another topic for another time but the fifth wave or evolution when it comes to mobile phones and what we saw around the third wave or so is these devices becoming smaller, more nimble, less expensive and more ubiquitous so y
The u. S. And china may Start Talking trade again. Beijing says the phase one progress review should happen soon. Alibaba offered more signs of chinas strengthening rebound. Shares jumped last quarter. The company says it is no threat to National Security. Lets take a look at our final friday session in asia. Sophie kamaruddin is half in hong kong. Green for are seeing asian futures on friday, this after the wobble we saw. We are keeping an eye on names like panasonic. We are keeping and i on a theme in japan, showing the dominance of quality stocks versus their value peers may have a bumpy road ahead. Torall, we could be looking end the week on a risk on note. Watching the terminal, we are looking to see if asia will track. Joint the slot punch joins the slump on softer chip prices. With that risk, the big jump in taiwans july export orders may be too backwards looking. Offer a more timely check. On the tech front, alibabas results showed improving Chinese Consumer sentiment. Shery he
Is two parts to that last night i focused on the major averages are not representative of the broader economy. Something held true today with the dow and s p losing 4. 4 and nasdaq sinking 5. 7 after the dollar skyrocketed something we warned about because the fed made it confusing how much they will keep helping the economy. The stronger dollar isnt great but the incredible v shape rally in the stock market doesnt jive with reality in a world where we still have double digit unemployment tonight, though, we need to talk about the other part of the sentence the stock market doesnt reflect Current Conditions emphasis on the word current why . The market is a forecast machine across the ball and supposed to be appearing six to nine months in the future. Maybe the economy is in rough shape. Let say they reflect next february so what are the odds the economy will be in much better condition by then because some people would say stocks are saying. Thats the key question. Tonight, i want to
A day. Yesterday that was a big head wind as the market did get up the s p just to the cusp of those old highs. We did it without the help of technology, of the big Growth Stocks everyone is talking about this rotation the nasdaq has had yet another of its fairly routine pullbacks so far it has bounced to maintain this up trend today yes, tesla helping it, but really it is the old favorites as well, just picking up the slack and the s p is right back to yesterdays afternoon highs before we had that shake out going into the close. Julia, david faber mentioning last hour the passing of Sumner Redstone, a legend in the content world. Coin that phrase content is king. Has a bit of feeling the end of an era, of course, he lived well into his 90s but what are your thoughts on what a figure like Sumner Redstone meant in his prime and who is defining this era right now. Well, certainly, jon. He was the ultimate media mobile of that raera. He was responsible for the consolidation of so much con
Bid. The dollar was a little stronger but now we are into that risk on field. You have a bid into gold, a bid into the 10 year yield. Old futures almost hitting a record high. Coming up, we are going to break all of this down with southwest ceo. He will be joining us later on in the hour as well as the founder of robin track. Looks atg he everything robinhood traders are doing. U. S. Initial jobless claims arising for the First Time Since march last week. Joining us now Narayana University of rochester professor of economics and former minneapolis fed president. He recently wrote a bloomberg piece that talked about what the fed can do in times like now, in particular when it comes to inequality. What should they be doing and what help should they be getting from washington . Narayana thanks for having me on. I think the fed should be doing all that it can to stimulate the economy in the current setting. That will further their current mandates in terms of trying to get inflation back u