Be as bad as it gets. That shouldnt change the overall picture that the rate of decline has dramatically accelerated for Traditional Television and it doesnt seem to be any question that were in a new normal with the rate of decline for the traditional system is probably 5 or so per year which is an extraordinarily rapid decline for something thats been around as long as traditional paytv distribution trend what youre talking about cable and satellite primarily, correct . Guest thats right. Traditional distribution the cable and satellite. Whats really interesting and maybe the most interesting part of the story is, if you went back a year ago you wouldve said that the virtual mvpd, so the you tube tv and hulu live and that sort of thing were really what was driving this migration away from traditional linear tv. Today it looks like that thesis was probably wrong and the uptake of those Virtual Services is not terribly strong actually and that what youre seeing is people just defecting
Power lunch starts right now lets get a check on the markets which are fluttering close to record highs. Slightly higher today well off the lows the dow was down about 100 points early this morning. The s p still just 1 away from record highs as it gains about 5 points take a look at a pair of housing stocks hitting new highs d. R. Horton is at its highest levels since january 2018. The doctor is in we begin this hour with new dovish comments from st. Louis fed president. We know he was the guy who dissented from the last meeting. Now he says a sharker than expected slow down is possible it will determine that on a meeting by meeting basis he does not expect trade uncertainty. Its not going to go away any time soon. In addition to trade, bullard highlights these downside risks, slower growth. That could feed into the u. S. Economy. Second, contraption and global and u. S. Manufacturing and third slowing u. S. Business investment hes worried about the inverted yield curve that suggests
Lately. Well, we have. But now you may soon be wearing them. Yeah. It is friday, it is september 20th. Fbn a. M. Starts right now. Rise up this morning. With the rising sun. Three little birds. Are by my doorstep. Singing sweet songs. Of melodies pure and true. Saying this is my message to you. Cheryl welcome to fbn a. M. Good morning. Im cheryl casone. Lauren one of my favorite songs. Good morning. Im lauren simonetti. Cheryl lets take a look at how your money is moving. Weve got green a arrows this morning, dow up 33, s p up 3 and a quarter, nasdaq up 15 andahalf. All eyes on lower level chough trade talks in washington. Lauren within striking distance of record highs for the dow and s p 500. Cheryl tensions with iran and catastrophic flooding in Southeast Texas, two things oil traders will be watching today. Were higher on the contract. Last read, 58, 50. Lauren in asia, the china trade talks continue. The shanghai composite higher by a quarter of 1 . Thats because the pboc cut borr
To accelerate. Interestingly we published a couple of weeks back a note that said we might see the acceleration in the short term and this might be as bad as it gets but that should not change the overall picture that the rate of decline has dramatically tolerated for Traditional Television and there does not seem to be any question that we are in a new normal for the rate of decline for the traditional system is 5 or so a year which is extraordinarily rapid decline for something thats been around as long as traditional att division. Host youre talking cable and satellite primarily, correct . Guest correct. Traditional distribution via cable or satellite. What is interesting and most interesting part of the story is if you went back a year ago you would have said the virtual and bpd so the youtube tv and the who live in that sort of thing were really what was driving this migration away from traditional linear tv. Today it looks like that thesis was wrong and the uptake of those Virtua
And a beige book road map begins with hong kong, brexit and slew of International Trade data stocks set for a sharp rebound at the open. Recession risks with Global Economic uncertainty rising, well get the latest tea leafs from the fed later today. And the nfl blockbuster, the Dallas Cowboys agreeing to a mon monster contract extension with ezek yell Ezekiel Elliott. Investor sentiment, a lift on news from across the pacific carrie lam making it official she has withdrawn the controversial extradition bill that sparked months of protests and impacted the economic climate. Some protest leaderes say demonstrations will continue, though, unless other demands are met, including calls for greater democracy, some of the protesters are asking for a complete review of police behavior, no indication shes going to give them that as well. I would say finally to this, right . They have been protesting now for 13 weeks this was one of the core issues that set it off. They have other demands, but a