Our road map begins with the earnings deluge. The busiest day yet with 3m, comcast, dow crossing the tape plus, tesla shares tanking this morning despite record deliveries of its electric cars. The automaker did report a larger than expected loss. And max pressures southwest shares falling sharply ahead of the bell. Loves gary kelly will join us exclusively this hour. Stocks set to make new record highs with two big movers today. Tesla, a larger than expected loss for q2 margins down despite record deliveries of course, facebook beating on both the top and the bottom lines, but with that warning that growth will slow. Results include a 2 billion charge as part of the 5 billion settlement with the ftc as facebook resolves one probe, disclosing yet another, saying the ftc began an antitrust review in june, which is separate from the antitrust review of Big Tech Companies Just Launched by the doj theres plenty to choose from this morning, jim. Whats on your mind . I love the facebook call
Will be in trouble. Im talking about the housing goose and frankly on days like today where the dow dropped and the nasdaq sink 6. 4 . Its one of the few sectors working, in fact, it saved the day from being a fullfree fire zone. Fir, understand that once again, we are back in international purgatory, the house of pain. That is when happens when the Chinese Markets are down and others are weak, and commodities are soft and the dollar is upper freaking strong. When you have this combination its almost impossible for the market to rally. Theres too Many Companies that do poorly. Think about it, for starters this is china. And we have to talk about it. Have read how china has not impacted our market so why does it matter now . That is a stupid question. Sure the stocks themselves are not that important. A lot of the individual companies are important. Because they tend to be financials, when i try to pick among the rubble in china, its the Financial Companies that are unhealthy to me. Not
Both up this morning crude oil, it is still hanging in there right below that 50 mark, of course and theres brent crude as well. Lets get to the road map. It does start with that market coming off a record breaking rally. The question of course, will it continue and big changes at ge the new ceo making his mark on the company as a new investor joins the board. A nail in the could have infor tax reform a top gop senator warns that President Trump threatens world war iii. The markets looking to continue its record run with the dow and s p in the midst of a fourweek winning streak but Technology Closing on friday at the new record high. Bar beingiring a large selloffe trump dow rally ochb track to surpass the 23. 3 gain posted in the year following the election of George Herbert walker bush. One would imagine we will hear tweets or get tweets about that the minute it happens. It is a major accomplishment and were coming off another week where all three major averages closed up a percent a
Why . Consider it overvalued. They may have the overvalued stocks that people cant live without. And, third, there are the stocks that actually represent living, breathing companies, not companies hostage to the overall gloom. They all combine. On todays like today, the bulls went out. Nasdaq climbing 1 . Lets start with the living breathing companies because thats all people were talking about today, namely the merger between at t and time warner. I right now i want to raise a larger point. The terrific ceo of time warner has been arguing with wall street for years claiming his company is worth substantially more than what its stock was selling for. While the stocks been a good one, i thought time warner traded at discount to what it was worth. The antinetwork bias has to do with time shifted programming and the endless talk about cord cutting. The Younger Generation just doesnt watch tv the way the older one does, and with a bunch of programming that wall street deems less relevant,
Breathing companies, not companies hostage to the overall gloom or the feds onagain, offagain pronouncements. They all combine, and on days like today, the bulls went out. Dow gaining 77 points. S p advancing 0. 47 . Nasdaq climbing 1 . Lets start with the living, breathing companies because thats all people were talking about today, namely the merger between at t and time warner. Ive talked about this deal in more detail, and ill do it again later in the show. But right now, i want to raise a larger point. Jeff bewkes, the terrific, some would say Great American ceo of with wall street for years, claiming his company is worth substantially more than what its stock was selling for. While the stocks been a good one, candidly i thought time warner traded at discount to what it was worth because wall street has such a bias against networks, tv networks, and, yes, movies. The antinetwork bias has to do with timeshifted programming and the endless talk about cord cutting. The Younger Genera