It is time for final trade time. Pete, kick us off. Bank of america ready to break out and get towards 13. Mtw, construction trade, i ththe going to continue to move. Steve weiss. Qualcomm, running a sale, time to get it if you dont own it. That does it for us live goldman tech conference in san francisco. Power lunch starts now. Hello. Welcome to power lunch. Michelle carusocabrera. In for sue and tyler. Apple ceo tim cook making big headlines. The fight with Hedge Fund Manager David Einhorn and cannibalization of the companys product. More on that fallout. Also mead china factor, las vegas rolling out red carpet for Chinese New Year tourist, which casino stock stands to win big. Sports illustrated swimsuit edition hits news stands today. I bet you already knew that. Supermodel kate upton on the cover for the second year running. Shes going to join us live here on power lunch. We dont want to miss that. In the meantime, lets check the markets. We have dow 14,000 and climbing as things
Of course those stocks have been fading, continuing to sell off today. Is now the time to rotate into more defensive plays . Is it time to nibble back into some of those big momentum stocks as that trend slows a big . Weve got a Shopping List of alternative storages just ahead. Meantime lets go down to sioux. Welcome back, sue. Thank you, ty. Were going to start with netflix. Its one of knolls momentum stocks you talked about. It moves basically because it moves. It doesnt need news, but today it will make news. It reports of Quarterly Results after the bell and traders will be buying and selling based on the results. Shares of netflix up more than 100 in a year, but were going to zero in on just the last two months or so, if you look at that chart its a dramatically different story, which puts it into correction territory. Morgan brennan is live in los angeles with some of the details on what we might expect. Hi, morgan. Netflix earnings are going to be important today. Heres what you
Fivestar rated money managers. That is a total obviously of ten stars worth of advice, and as the rates rise. Its kind of like a cnbc soap opera. If that tenyear bond hits 3 , what is it going to mean for stocks . What is it going to mean for housing . Maybe even for the auto sector as borrowing costs move up. Were going to explore that in a dramatic way today on power lunch. First though to sue at the nyse. Hi, ty. Lets get right to the markets after yesterdays big selloff. Were down today, but only right now about 21 points on the Dow Jones Industrial average. The s p just fractionally lower by about 3 points on the trading session. The nasdaq in the green, up almost 6. 5 and the russell is marginally positive. The tenyear will impact your investments, your house, your car, stocks, your spending, your life really, and right now we have the tenyear at 2. 839 . So were getting ten stars worth of advice. Greg fisher, manager of the five star rated Gerstein Fisher growth us as does matt
Short applied materials. Amat. That does it for us. Have a great weekend. Power starts now. Halftime is over. Power lunch and the second half of the trading day starts right now. Alarm bells and it is not the scott wapner phone app, believe me, they are sounding at one of the best known investment firms in the world. See why a wall street journal report says sac capital is suddenly so nervous. Payday problems. If you havent looked yet at your direct deposit, get ready for a bit aftof a disappointmen. We will show you why. Plus, info into stock funds. Hitting highs not seen in years. Is it time for america to get back in the game or not . Sue at the nyse. High, ty. Can you love him or hate him. Sac capital led by steven cohen has been major force for years. Investigating involving Insider Trading may take a bite out of their business. The hedge fund is bracing for an exodus with client withdraws that might go as high as a Million Dollars this year. Dana joins us now from london. Dana, h
Behind. Lets check in now first with sue at the nyse. Hi, ty. Stocks beginning the week on a down note. That follows last weeks big selloff. Still some fears about corporate profits persisting out there but we are seeing a bit of a rebound in technology which of course was key in last weeks selloff. Well see whether or not it can maintain its leadership. Bob pisani joins me on the floor of the nyse. Not unexpected that we would continue to see a little bit of selling but it certainly doesnt have the pressure buildup. Are we at a bottom in earnings at all. Its still out. Whats encouraging, tech stocks, a horrible week last week, a lot of companies disappointed, microsoft and ibm. A little bit of stabilization here. Thats good to find some kind of bottom. Ibm has stabilized, but General Electric hasnt. Were down again today after some disappoint yesterday. One of the biggest volume days ive ever seen in General Electric on friday. Heavy volume again today. Down almost 7. 5 . Ge in two da