2 to an alltime high, and the nasdaq gaining 40. Its hard to tell if were going to have a fall or a run for the roses. Despite the seemingly placid root of the market, i think its very important for you to get your head afternoon this standoff. With 40 home game members and the newsletter i put out by my travel trust. While many didnt share my legal of optimism about the individual companies that i endorse, meaning that those companies were right here, right now. Several others were down right bearish. One person wanted to know what would happen to my trust when the federal government took away all the liquidity. Another argued it was time to go headlong into precious metals, his menu . Gold coins, gold stocks and gold bullion. When i said a portion of peoples assets should be in gold. He pressed me, he was speaking a lot more than just a portion, maybe a majority. Finally there was a curious discussion among several of oust over some real good mescal, that there would be some tax refo
Talking on scott wapners half technical foul report, that the stock had come down too far too fast i like nvidia the company very much, so does andrew by the way, and when i debated him about it, i thought he made a lot of sense, the stock had indeed gone from 102 to 168 in a little more than six weeks. Yet i felt that the analysis was a bit more than a speeding ticket for nvidia. The stock had accumulated for going up, up, up we agreed to that today when scott wapners Halftime Report and it got a lot of tourists i love that. And these tourists were easily panicked, they were fellow shareholders that had to be shaken out with nvidia down from 150, down from 168, is that enough of a correction to get him started with some buys certainly at 1. 68, i think the answer is yes. But i also have to tell you, that the first buy if you missed the bottom today, may not be your only buy. The second reason for the decline, kind of thoughtful, but i think mistaken downgrade of apple today. New name
Good morning happy friday welcome to Worldwide Exchange on cnbc. Im sara eisen im mike santoli in for wilfred frost. Its new music friday. This is what we do. Kicking off the weekend with drakes latest called signs. If that wasnt in the te teleprompt teleprompter, would know that . I would not i know this is drake. I might have guessed that. Another slide yesterday led by technology where the nasdaq closed lower by 1. 8 futures are pointing to a higher start. Futures were higher yesterday at this time. Then it all fell apart did have some pockets of strength in the session including financials dow futures up 40. S p up 4 nasdaq up 2. Lets check on the f. A. N. G. Stocks they led the selloff yesterday theyre still down fractionally in the premarket worth watching, they make up such a big portion of the market and a big important Leadership Group for the market tenyear treasury note yield, a lot of people are blaming the jump in yields for the sudden selloff in stocks. Its something weve
263,000 jobs, that caused the averages to roar higher for most of the day. But then the Federal Reserve threw cold water on the whole market. Yep, when the fed minutes from a month ago were released, we saw that they talked not about the economy being strong, but about stocks being too strong, it was almost as if the fed was saying that the stocks had gotten ahead of themselves so they had to take away the punch bowl with some stock bad mouthing. Paul ryan came out and said that tax reform will take longer than health care. Whats longer than never . Put it all together and the averages only went into a tail spin, erasing our earlier gain, causing the dow to close down 41 points while s p lost. 31 and the nasdaq sank. 58 . The fed signaled that maybe things arent as great as the bulls may think, which sent markets plummeting. Thats why i have to stress displadi discipline. At 1 59 at the top of the session, it went on for about five minutes, it looked pretty frosty. Since we have got th
Since after election day. Our road map begins with the big jobs number. The monthly job report come in under expectations. What now . And the u. S. Launches an air strike on syria. Trump and chinese president xi continue to meet at maralago. Well take you live there for the latest. Weighing in on the payroll number, retailers were a big part of this slashing 30,000 jobs last month in addition to the month before. Construction adding the fewest jobs in seven months. We did see an increase in average hourly earnings, jim, but its the worst two months for retail since december of 09. We can figure out why. Yeah. This is what you call a secular trend. This is not something thats going to come back. I think that what you had was that you had a weak you had a weak Holiday Season for bricks and mortar. It got weaker. Jpmorgan they do incredible analysis of the mall and its down double digit traffic. You cant sustain your stores in bad malls anymore. And all of the retailers in the malls are k