Can these stocks keep surging. With us for the hour, Pete Najarian, steve weis, also with us on set is tony dwyer. Weis, ill begin with you. You like this group . You own netflix. I do. You say you may buy facebook today . I would love to buy facebook. Ive been talking about it for a number of days, a couple of weeks. I agree that Mark Zuckerberg is one of those unique individuals, like a steve jobs, who is creating an entire new asset class, as we look at it, and technology, of course. Look, the nasdaq is not expensive. And if you its like 18 times earnings as you go forward, youre still going to have this low inflation. I mean, we looked at durable goods orders today it was a disappointing number. The revision was disappointing if you have that low inflation, youll want to go for growth youre not going to get the tenyear moving much above where it is. So growth is personified by the f. A. N. G. Stocks. So they will keep going. Theres no doubt in my mind in this environment youve been
World. Power lunch starts right now welcome to power lunch and welcome back to Tyler Mathisen im michelle carusocabrera. The dow is aiming for the first up day in five it was up triple digits and now higher by only five points and avis is soaring. The company is partnering with googles selfdriving car division and arconic, much more on this hour for power lunch. A report by the cftn says the merger with walgreens will probably get approval. Brian . Thank you very much new data showing in the first quarter, u. S. Property insurers had their biggest catastrophic losses since 1994s north ridge california earthquake. Losses totalling 7. 5 billion. And Warren Buffett investing 377 million and the Martin Shkreli jury trial selection some of the Major Technology names are taking a hit on the President Trump travel ban news. Well go to Hampton Pearson at the Supreme Court where the president is now weighing in as well hampton . Reporter how you doing, brian . We have the Supreme Court giving a
Good Tuesday Morning welcome to squawk alley. Were at the New York Stock Exchange joining us this morning from palo alto, cofounder roger m k mackname is google hit by this fine by unfavoring the search results over rivals . We talked to the eus commissioner for competition earlier this morning heres what she said well, the fine is a reflection of the abuse and how long the abuse has taken place and, of course, the importance of the Different Actors in this market and we find this abuse has been taking place since 2008. But also that it has taken place in every european country where google shopping has been ruled out. And that, of course, is a very serious matter and that is reflected in the level of the fine. Our google, roger, would argue it is also serious although they say they respectful respectfully disagree and are considering option onz appeal. What did z. This mean . I think, carl, there is an interesting sest tests coming in front of us. First of all, google, facebook, amazo
The s p 500 will do in the next six months of these 23 folks 63 say it jumps more than 5 . 21 say moves up, but less than 5 so 85 say stocks are going higher yeah. And you know how i love to play a contrarian, judge, but unfortunately, im not a contrarian with this one i agree with it. I think the second half of the year, we pick up momentum again, that we had in the First Quarter, that we basically traded sideways, except for tech and a couple of the health care names, in the Second Quarter, but i think second half, a lot stronger than weve just experienced. All right pete, so youve got the dow up 8. 5 s ps up 9 nasdaqs up 16 history guests that docs right. If you look since 1988, when youve had firsthalf gains of at least 6 , im going to read you some of these numbers. 2013, we were up 12. 5 first half we finished 29 . 2014, we were up 6, we finished up 11. 2012, we were up 8, we finished 13 2003, we were up 10, finished 26 and i can go on and on and on. The gains are pretty magnific
We have world coverage here on daybreak asia, we will be live in seoul for an update on the north korea missile test fallout. Betty and we go to detroit for is announcement that volvo going electric in 2019. This is daybreak asia, live york andmbergs new asia headquarters. I am in new york, it is after 7 00 p. M. Yvonne and it is just after 7 00 a. M. Here in hong kong. Lots to talk about. Much from president xi and chancellor merkel. But we are focusing on the fmoc minutes. A divided fmoc when it comes to the Balance Sheet timing. Betty absolutely, the timing is key. A lot was propelled by confusion or what is confounding fed officials, and economists everywhere, which is, where is inflation in the u. S. , despite seeing lower Unemployment Rate numbers . We are almost nearer full unemployment in the u. S. , yet no inflation. That is complicating the feds direct timing. Coming back from a long weekend, we saw the markets at first it dipped then they rallied with tech shares. We will go