600 gaining. A lot of the focus is on earnings and the economic backdrop. 1134. Ollar 1 it has fluctuated but is very arrangedbound. Rangebound. Coming up, the World Economic forum in davos. We bring you all the biggest names in banking. Lets get straight to first word news in new york city. We begin with the new york senate approving Donald Trumps new freetrade agreement with mexico and canada. It handles the president and a major win ahead of impeachment. The overhaul of the agreement was a priority for mr. Trump. Mitch mcconnell called vote a rare moment of bipartisan cooperation. The white house broke the law in withholding aid the ukraine. Accordingting to an independent watchdog, saying the president should not have delayed money. This is a key part of the impeachment case against President Trump. , quoteg with them obsessed with the u. S. Trade deficit. This is according to bill hogan, saying americafirst policies are bringing about a priceless moment for global trade. This came
Launching its ipo road show, a blockbuster deal which could value the company as much as 52 billion. Were watching media names, wbd warning of prolonged impact from the strike while disney fires its latest volley in its dispute with charter. Its great to have cramer back in the chair. We missed so much last week, between lulu and the china names and chewy and wolf. First of all, its great to be back. Thank you for the wellwishers. It was a triple hernia. I managed to come through it in a way that i feel very, very strong. I always love september in our business because everybody does come back to work except for the people that still work at home. They want to get back to work. There are a couple of points we have to talk about. One is the bonds are going the other way. Thats going to be septembers headwind. Again, the Interest Rates are up. I think were making much too little about the strike, the uaw strike. By the way, the writers strike, obviously for Warner Brothers is important.
Slightly higher. At the low, down more than 100 points. All on pace for the worst day of the year. That is only true for the tech heavy nasdaq. Really weighing on the nasdaq, the Philadelphia Semiconductor index down 2. 4 . Still on pace for his worst day since december 4 of last year. Lets dig into one stock weighing them all down. Apple down 1. 6 . Its worst day of the year. This appears to have to do it to death and analysts. Jpmorgan is cutting the estimate, Sales Estimates for 2018. That is based on deteriorating iphone demand. We also have bernstein saying the iphone estimates for the march quarter, the street is looking at it right now, and it may be too high. It is interesting to see when the Company Reports what does come up. Broadcom trading lower in 70. Lets look at some of the homebuilders. We have some weakness here. D. R. Horton, all lower after existing home sales for the month of december missed the survey a little bit. Daca have to do it tax reform. Investors not likin
Stocks are taking a hit again. However, were off the session lows the dow was down 166 points at one time now they are off by 91 points. The s p is on pace to close at about a threeweek low as for the nasdaq on pace for its lowest close in two weeks. The russell 2,000 is down for Third Straight day that index is down about 2. 5 for november thank you very much welcome, everybody the annual advisor out here well talk to some of the smartest minds about investing to the record rally, to the trump agenda to this low volatility market. Its high energy here. Were get the advisors take on the gop tax plan and some best ideas for the new year well hear from the ceo of schwab lots to get to from the windy city back to ireland bound bryan at hq thank you bow tie it is what most of you watch its less obvious but equally important. There are some potential warning signs flashing from one big part of fixed income. Its called the yield curve. Lets get straight to the trading action lets get to what
Future is going, and goldman taking down the numbers today, and all raises the new questions for the investors to consider, and steve weiss, you considered it and shorted apple this morning . Yes, the second time short this week, and there is a story ta broke from nike saying that it is going from the twoyear cycle refresh to threefyear, and that is news that they are running out of technology, and innovation, so, that is why i did that. I went back today, because the analysts typically seem to follow the herd, and not all of them, but some. Goldman is cutting the number, and mary meeker who used to be a real, real force in the business on the sell side that is, and she is in private equity or venture, and goldman, and so analysts will now look at their numbers and come out and do the same thing, and cut estimates, and so it is purely a momentum trade from the longer term holding standpoint and going out a year or two, it is a hold, but it is nothing that i am excited about right now.