Housing startswere pretty soli this morning roadmap begins with that record run for the markets. The dow has now closed at a record 70 times this year. Will the rally push through year end amid turmoil in d. C. Speaking of records, the nasdaq breaks through 7,000 for the first time were going to take a look at the names driving that index higher. And downgrade for apple has the stock down slightly and hot holiday item that is sold out. Weve got the latest first up, futures are on the rise after another historic day for stocks, including the dow posting the record close of the year the house is expected to vote on the tax reform bill later on today. Looks like pretty clear sailing and Senate Begins a mandatory debate but pretty much with colins and corker and lee, this thing will get done. I think that people are driven by estimates. And i had United Rentals last night. United rentals immediately gets more cash. What are they going to do . Put more people to work, buy back more stock. W
They are not valued relative to the Interest Rates. Whats happened in the markets has been very sensible nobody thought wed have these kinds of Interest Rates for a long time. Additionally you have the tax act which is a huge factor in valuation. All right so kevin oleary, theres buffet today on the Network Stocks arent too expensive, echos what tepper told me last week, what weve heard, from you know, gary cohn out of the white house and others are they right i think the most interesting aspect what have buffet said was youre getting 14 to 15 given back to you from the government to an American Company shareholders now, he was being specific to Domestic Companies that have all of the revenues here, by find that intriguing. The other thing he didnt speak to, which he never really speaks a lot of is if youre getting 3 trillion back domestically, what percentage that have is going to buy back stocks in the next two years that has me fascinated. When people ask why is there no vol and why
Question. Is that it . Done with the dips so buy the dip . Its going to be another very big day. It was certainly a big night. The president upbeat. Positive. Reaching out for bipartisan deals on immigration and infrastructure. Much of his state of the union speech outlined the economys success. And a cbs poll showed 75 of the tv audience approved of that speech. The democrats, angry and and silent throughout. Nancy pelosi and schumer sat on their hands and looked frankly resentful. How will the american policy look storming out of the chamber when the crowd chanted usa, usa . The president looked good. The democrats did not. By the way, moments from now on this program the treasury secretary Steven Mnuchin Varney Company is about to begin. Trump since we passed tax cuts, roughly 3 million workers have already gotten tax cut bonuses. Many of them thousands and thousands of dollars per worker. As tax cuts create new jobs, lets invest in Workforce Development and lets invest in job train
68 points and the s p declined 22. 4 and the nasdaq fell fell. 70 . When it comes to everything from aerospace and elevators consumer packaged goods, coal oil and now computers and cell phones if its getting sold in china its getting obliterated i think china became the marginal buyer of everything the place where all hopes and dreams have come from in that thesis true or false is now fall apart because of that chinese stock market crash earlier this month. That was the sign that growth has peaked in china. Money managers now think that its all down from here. No, no china, mighty china is now regarded as a paper tiger. Lets take apple, the subject of endless, after reporting one of the greatest quarters i have ever seen in all my life. China has become a larger and larger part of apples growth and the ceo makes no bones about how it will ultimately become the biggest market and totally private Conference Call and with the ubs analyst Steve Milunovich about a potential slowdown in chin
Were the two profit drivers in the Second Quarter for General Motors and more importantly for investors, margins were above 10 and for the remainder of this year General Motors expects business to be Even Stronger in part because of pickup trucks in north america. Our pickup share in the Second Quarter was up close to 3 Percentage Points on a year over year basis. So we continue to see a lot of Strong Demand for fullsize pickups, suvs and crossovers. To drive that point home think about this. Year to date General Motors pickup sales, both fullsize and midsize up 25 . Thats one reason why gm is doing so well in north america which we saw in the 2q numbers. Eli lilly beat the street. Meg tirrell, the Company Raised its forecast for the year. The beat on the adjusted earnings was 16 cents. Raise only by 10 cents though. Ceo on squawk box this morning address what went into that question. As we are launching products and bringing drugs through our late stage pipeline that drives certain am