Meaning facebook amazon, netflix and google now. Not that theres anything wrong with that. In fact, i cant tell you how many people say to me, thanks for f. A. N. G. , wherever i go actually. When you mention something for 50 straight shows others start picking up on it. And more important investors start buying the four horsemen and making money. But on a day that the market is down a tad, the s p is back sliding 0. 05 and then the nasdaq declining 0. 8 , we turn the page on another positive month, i have to tell you that im starting to question whether this whole rally is really built on f. A. N. G. Maybe just maybe its built on something bigger. I say this because im looking at the new high list for the s p 500 today and you know what i saw . I like what i saw. Which is a broad distribution among the 70 companies that hit this august list, 70 out of 500 making new highs. Remember you dont get on that new high list by popularity. There is no electoral college. You get there because y
Us oh wait. Covers the Banking Industry well was here. That works too. Well get to that in a little bit. We begin in washington with the rhetoric about a Government Shutdown how much time do we have at this point . Well Government Shutdown by the end of the september if they dont pass spending bills. We got a slightly different take between last night and today between the president of the United States and the speaker of the house. Listen to the president last night at a rally in phoenix talking about the possibility of a Government Shutdown if he doesnt get funding for a border wall build that wall now the obstructionist democrats would like us not to do it, but believe me, we have to close down our government, were building that wall little bit of a different take well see where the rest of the Republican Party falls on the issue of the Government Shutdown over boarding spending there are a lot of republicans on capitol hill who would like to see something done on the issue of the b
Things happening . And then i real off the positives even though the averages are spending most of the time in the red lately. Unlike today the dow dropped 100 points. S p declined 0. 63 . Nasdaq fell 0. 4 . Give it a try beginning with pet smart. Why on earth is someone paying 8. 3 billion to buy a pet store chain for 83 per share, the biggest leverage buyout of the year. 28 bucks above where the stock was seven months ago. Its not like its an amazing company. This chain is problematic. In nature frankly. It has been viewed as total amazon prey for several years as it missed quarter after quarter starting in 2012 and considered and also ran with slowing samestore sales, second rate omni channel falling by the wayside. It had been downgraded and downgraded and downgraded more. It became the butt of many jokes. Including that if amazon could ship pets, pet smart would have no more business. And in the meantime pet smart was starting to turn around but the brilliant web acquisition. An i
Aviation safety subcommittee. Thank you all for joining us today to hear testimony regarding Innovative Aviation Technology and new instruments to the National Airspace system. New entrance include innovations advanced air mobility, electric vertical takeoff and landing aircraft, unquote Aerial Survey systems commonly known as drones. These technologies have a wide range of applications. From inspecting Critical Infrastructure to delivering medicine in remote areas. To improving a mobility in urban areas. Along with advancements and electric propulsion, these innovative approaches offer opportunities to transport passengers and cargo or provide other Aviation Services while reducing Carbon Emissions. As we begin the process of reauthorizing the federal Aviation Administration next year, congress should incorporate provisions to advance these important developments in technology. Are you hearing today is an opportunity to consider the challenges ahead, and the approaches congress can ta