Mim im melissa lee, this is fast money. Everyone here inhouse we start with the potential warning signs of the market. Major indices with solid gains the do w adding 400 . The nasdaq, not far behind but not everyone came along for the ride check out apple, pulling back more than a percent and a half today. The worlds Biggest Tech Company is now more than 9 off its alltime high hit in midjuly. Thats not all microsoft managed a gain today, but down 10 from its record high last month. So, is this cause for concern or a sign that the rally has actually broadened out, that we can move beyond just these two, you know, generals, dan . Yeah, so, when you think about the moves that the two of them have, okay, technically, they have broken the uptrend in place for most of this year. Thats important in a market where people dont really care much about valuation if you think about how far microsoft and apple have come, they make up 14 of the s p 500, two of the stocks together if you look at the r
The s p hitting another record high yesterday. The 16th of this year. The s p futures indicated up 12. Dow futures indicated up 27. Nasdaq futures are indicated up, too. This comes after gains for the s p and nasdaq of more than 1 . Pushing both indexes to record highs. Dow closing higher. It was up 130 points yesterday. A lot of this came after what we heard from jay powell. He was speaking again before congress and yesterday he said this is key. Yardeni pointed this out. Powell said we are waiting to become more confident that inflation is moving sustainably at 2 . It will be appropriate to dial back the level of restrictions. That is what the market heard. Not far from it. As a result, you saw treasury yields pull back. The tenyear yield at 4. 07 . The twoyear yield at 4. 49 . It is interesting because it is all based on inflation. We havent even any definitive proof that the economy is going to fall off a cliff. Maybe we can get that today. Maybe he knows something. When he said we
Nearly 2 billion eu fine, while two new notes say, hey, dont worry. They suggest an apple comeback likely. As for tesla, well, its china struggles continue. Shipments plunging to the lowest level in more than a year. Lets begin with the markets entering a new week with record highs, fueled once again, jim, by a. I. , which seems to be the topic of so many weekend notes the last couple days. Oh my, carl. A lot of people want to say that the whole things gotten out of control, but lets say you go back a year, and you look at what nvidia the estimate for 2024. The stock was selling at 12 times earnings a year ago, so we can sit here and moan how expensive it was, but its by far the cheapest of the mag seven or mag six if you want to drop musk. But i think the problem has always been that when you look back, this thing is so underestimated in terms of what it can make that you dont know how to value it. What are you going to do, take it to nine times earnings like its a bad bank . Jim, my
Emerging says one analyst and its not too late to get in on the action he is here with the trade and the upside of this industry. Now a check on the markets the major averages are rebounding, but the chart of the day right now once again goes to new York Community bank corps. Believe it or not. Down more than 40 so far on reports thousand that the bank is seeking a major Capital Infusion from outside. And thats where we are going to start with these green markets, a very deep red picture, and leslie picker has the details on nycb so it appears to be that this would be an Equity Capital raise, and that they reached out to a variety of investment firms. My understanding in talking with a couple of indirect sources over the last few minutes or so is that this is likely a lot of these conversations are more in the private realm opposed to public investors and that they have been going on for quite sometime, because one of my Big Questions was, why is this coming out on a wednesday typicall
Yesterdays drop as the yields rise, the s p and nasdaq are now on pace for their worst week since march. Interesting action in bonds as the ten gets back to 4. 2. Weird. Today we got decent productivity data, labor costs were okay, and then prices paid on the ism back to the highest levels since april. So the markets sussing out what is the inflation trend right now. Watching that inflation trend and that commentary we got from Warren Buffett and his confidence in treasuries and the fact hes going to keep buying is just a question of which treasury right and then, of course, a slew of corporate results. We talked media last hour with warner bros. Discovery all eyes are on apple and amazon and their commentary about the back drop. I think were going to be seeing the tea leaves of amazon and what well see in the next quarter. I think thats important. Very big night of results coming their way ahead of the jobs number. Despite our next guest pointing out warning signs in the market, hes n