Perspective to know whether we should use the tool at all, and what magnitude of the tool we should apply. And in another exclusive, paul singer sees a Market Correction of 30 to 40 whenever the downturn comes. I have been expecting it is but theys epiphany, possibility of a significant market downturn. Nejra good morning from london. Lets get a check on the markets. Big day ahead of the g20. We look ahead to the meeting between trump and xi. We dont know what to expect at the moment. We saw gains in u. S. Equities. S p dead flat, but we are heading for the first weekly drop in Global Equities in four weeks, so that is something to note. In june, we have seen Global Equities rise 6 . The bloomberg dollar index is treading water, but it is headed for its biggest monthly decline in more than a year. Switched up the board and take a look at the pulse of risk in some of the other asset classes. Dollaryen, we are seeing the yen bid is a safe haven in, along with gold. While a little weaker.
Welcome to the Halftime Report. Im melissa lee in today for scott wapner top trade this hour, nike just did it the Worlds Largest Footwear Company posting strong earnings. The street buying the stock hand over phys today. With us for the hour, josh brown, Jim Leventhal, jon najari najarian, head of Global Investments at ubs shares of nike are rallying. Jim, you own it. Are you buying more . I bought a little bit more. I was hoping to load up the boat today, but i just cant, for two reasons. And i would love to get jays opinion on this, but its up 9 today. Im not going to go chasing it i think it will go higher from here, but the question is, i thought the Earnings Quality was really kind of low you had Gross Margins that went do down you had revenues that were okay, but a tax rate beat. So whyd you buy a little when the stock was up so much when youre throwing shade on the quality of earnings . Ive got a lot of dry powder left to go in this name. Im not going to buy it all today. Look,
Homeland security chief warned mall of america shoppers to be, quote, particularly careful, and yet yesterday it was still hard to find a parking spot at that mall. Why arent American Consumers worried if the government is . Some surprising answers on this one just ahead. Important story there. Another one as well, the president just wrapping up comments about these new rules theyre talking about for 401 k rollovers making sure the Investment Advice you get is good for you and not just for the Financial Planner or broker who is advising you. There are some concerns that people are being steered into investments that have higher fees. Theyre suitable for you, but theyre expensive at the same time, and there are cheaper alternatives. So brokers may be making more on these higher fee investments, and so the president wants to do something about that but the industry is fighting back. So we have both sides of that issue coming up a little later here on the closing bell. Yeah divisive one.
Silicon valley. We have it covered today. Sue is at the new york stock exchange. Hi, sue. Hi, ty. And while there is fear out there, we also have a lot of optimism as well. Take a look at the russell 2,000 hitting a new record high today. Right now its up about a tenth of a percent and the transports also hitting a new alltime high today and for those of you who follow the dow theory, that is an important indicator, up a third of a percent today. The nasdaq well above 4,000, its about to have its third monthly jump of 12 in the last three months. Craig columbus is president of first allied Asset Management in phoenix. He thinks theres more upside to this market but hes also cautious. He sees some warning signs out there, reducing exposures where evaluations is most stretched. Whats making you cautious and nervous about this market . I think we can expect more upside but also prepare for more volatility. We havent had a 5 correction since late 2012, so i think 2014 looks like 2011 where
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