down almost 9% but we will start with maga and the president touting the four stocks what we re now calling the trillion dollar club we have four trillion dollar companies. one is apple, one is microsoft, one is google, one is amazon you have amazon, google, apple and microsoft. you have an a, g, a, m, you have a maga heath is joining us from the global conference. congratulations as always on the conference good to talk to you. great, thanks, carl great to be here. you don t cover all of the names in that group but you cover a lot of them. i wonder is it any different covering them or is there more responsibility how much is the market relying on the fates of those four companies? we look, those are our tech leaders. that s what the market is looking to in a lot of ways when you talk to investors, those have become market stocks. they re reflective of the direction the market is going and reflective very much on investor sentiment on where they expect the market to
Erik. He is on assignment in athens. Stephanie i would love to say that our erik was at the oscars last night, at the vanity fair party, but no committee is working in athens. We have had to take you to the breaking news on the Housing Market. Scarlet fu is in the newsroom with the headlines. Scarlet disappointing read steph. Economists had ratcheted down their expectations over the last three days because the expectation is down 1. 6 as recently as friday. On an annualized basis the rate is 4. 80 2 million, dropped from the prior month. This is not a government report. It is from the Industry Group the National Association of realtors. What it measures is the purchases of previously owned homes. It makes up 90 of the Residential Housing market. Some might argue a more important indicator than new home sales. In terms of the effect on financial markets, u. S. Stocks were lower before the report. No real change there. The dollar takes a little bit of a leg lower even though it is firmer