This means. Welcome to the show once again. Good to talk to you today. You with me . Can you hear me . I can hear you now. What are you making of this news. Im holding the suit in himy hands. Is a big deal. You have one of the largest mutual funds saying your business was a fraud for a period of time and that you cost us 70 billion as a group. So this is something weve warned about and this isnt playing around money. This isnt write a check and move on. This is big news. At the same time was any of this to be expected just given where the news flow around valiant and filla dor had been within the last 12 to 18 months. I think so. I think when you look at the news flow for the first half of this year, we knew there was a problem. We knew what they said and did may not have been matching up so the fact that there are already other lawsuits, this isnt the first lawsuit, but this is from a big named company thats not used to going after companies they invest in so im sure they didnt take i
The First Quarter of the next year but this time may be different and well talk about why coming up here. Plus retail reality check. Jcpenney, the latest Department Store stock for a pop this earnings season and the government retail numbers less than expected. Well dig deeper into what is going on with the u. S. Consumer right now. So herky jerky. First, there were major problems for delta as we know this week with thousands of Flights Canceled. Now, another airline experiencing turbulence. Literally this time. 24 passengers needed medical treatment because of it. We have details and the fallout for the Airline Industry coming up. That is a nightmare story. Hillary clinton releasing her 2015 tax returns today. Trying to pressure donald trump to release his tax documents, but will it make a difference . Thats coming up, as well. A lot to get to. Lets start with the market moves today. Stocks pulling back just a bit of yesterdays record close. Bob pisani behind us looking at the financi
Ratesensitive stocks. Should you dump your dividend stocks as they continue to rotate out of this months hot trade . Bk. Implicit in this question is, is safety no longer safe . Well, im not seen sure these were safety. These were yield plays, right . Now you have a change in whats going on with yield. Lets look at what happened today. We had a pmi number that was decent, at least decent enough to say that the fed may raise rates. We can discuss that later. But that they may do that. We had oil rising. The higher oil guoes, the more likely the fed is going to raise. And then the last thing we had, china is in the sdr. They have less of a reason to necessarily stockpile a ton of treasuries. So you have a lot of reasons not to be buying treasuries, for yields to go higher and thats what happened today. So i think you do get out of these names. I think the risk reward is not favorable here for these names. Isnt this exactly what we wanted to see . Isnt this i mean, im not sure i agree wit
Ugly at the moment, but you can also throw tech and Energy Stocks in there as well. All of them are leading these major indexes lower. This after europe sold off in a big way early this morning when many of you were asleep. The s p 500 at this moment is looking very weak, down 467 points 46 points, thats a 2. 5 loss, on track for the lowest close in nearly two years. The nasdaq is getting smashed any way you look at it, trading at its lowest levels since october of not 2015, but 2014. Todays selloff follows a hammering last week that culminated in paper losses of some 800 billion for a lot of you out there combined. Now, you cannot only blame oil on this, but we should tell you once again it is one of the catalysts for a lot of the negativity here, dipping below 30 a barrel in the aftermarket session. Were till there, six cents below 30 a barrel at the moment, but wait until you see the screaming signals were about to show you from bank stocks to treasury yields. Weve got it all covere
There. These are the hideout stocks. Hey, im always nervous. What do you say . Yeah. Three names. Look for names that have done pretty well over an interesting last month and the three that come to mind for me are cocacola, which is making alltime highs. No triple tops so coke is in the next range. A lot of analyst upgrades into their earnings in a couple of weeks. Home depot which seems to do everything right. Had a big selloff. Coming back now and i think facebook is going to knock the cover off the ball when they report in three weeks so names that have done well despite market volatility, thats where you like to be. Do you like those names, pete . I love growth. I love value, i like all three but im going to add a couple more. Really . Youre exactly right on cocacola. Ive been owning that stock for a couple of years. I think some of the investments outside of the koala world is part of the reason why i like them so much because they needed to do that. They have done that and i thin