Again today. Right now it is a positive day for the dow. Up 400, following the biggest decline for stocks since the great crash of 1987. The russell has gone negative. Josh brown, its been one heck of a week. What are you thinking about today after weve given, you know we gave up almost all of the 1,000 point bump were still hanging on to a few hundred. So couple things. One of the points ive been trying to make on the show recently is that security selection is not going to be the answer to how much pain you are going take in a moment like this and that was proven this week. The xlu, which is the utility sector, which normally in any Market Correction is not going to be disastrous, was absolutely disastrous im not even giving you the draw down from the peek im just going tell you this week the xlu is down 19 there really has been nothing save and yesterday of course, historic day at 3 30 there was ant single green s p 500 stock. Security and selection has not mattered i come back to o
Sort of waiting for it. We got it today. Very interesting, and a lot of this comes from some of the overnight data we got overseas, like you mentioned from china, and then the u. K. And from germany, and of course now here in the u. S. Markets deteriorate in the last hour or so. David we come back to the same question again and again. Is this a projection of future growth, or or of a position where people need to put their money somewhere and drive down yields as a practical matter . Taylor lets get a quick data check. It is all about bonds today. We talked about futures here after what was a really good day yesterday, deteriorating this morning. Off about 1 or so. Ns is back in positive territory. German tenyear now at a 64 basis points. You wonder what the ecb does next. When we look across asset for the safe haven plays, for me it is all dollaryen. We have again continuing to strengthen. Handle is something that catches my eye. Gina we are joined by martin adams and vince cignarella
Roadmap begins with President Trump morking north koreas nukes and mega chinese deal block, and shares of intel are down reports the i. T. Industry is bracing for news of a major security flaw affecting intel chips. It did not take long for stocks to make history in 18, that is d nasdaq closed above 7,000 for first time best day since october 27th. Whats going on with tech . I think that the profit taking ended i believe that there was a huge amount of money that left tech and went over to industrials and a large part because the gains were so great, also because there was a feeling that you could select your lot because of the new tax code, it made sense and turn out it didnt matter. Whats really happening here, carl, it is just an unprecedented amount of research as possible. I sent i sent a list today, theres 35 upgrades and what happened is that nobody seemed to realize that nothing is built in every one of these notes is about how tax reform, tax reform or unbelievable Holiday Sea
60s are contributing at the contribution limits. Thank you mr. Chairman. Please go ahead. If i could ask a question. The behavioral economics have shown a couple of successes into some of us are concerned about it contains some who rather than providing the much to help people navigate different decisionmaking would provide a fullfledged private citizens. It seems that some operate on the notion that academic and government technocrats are infallible and they tell how they should leave their wives and allocated to the resources. The former oversoul in the Environment Administration along with a harvard the harvard professor who pretend about the behavior of informed Financial Services regulations. One of the proposed schemes is to nationalize on the credit cards to get card issues the government technocrats and use the funds for the Financial Education and other ways to help the private citizens. What do you feel about such a proposal and dvd that the government technocrats needed to e
Mind and leadership is not about being certain. Its about being willing to step back and rethink and ask the right questions, but a lot of leaders struggle with that. They think they got to know all the answers and i dont think they do. Absolute power corrupt, absolutely. I see it with ceos all the time and when we ask them hard questions, they look at you, like, what . Their employees never do. Well, the Great Companies, youll notice Great Companies have a culture where people are willing to speak up and great leaders cultivate those kinds of people. Robert, thank you so much for joining us this morning. Thank you. And thank you, everybody, for joining us this morning. Enjoy that long weekend. We will see you back here on tuesday. Right now, its time for squawk on the street. Welcome, live from the New York Stock Exchange. Jim cramer is off today. The u. S. Session here, we just had Empire State Manufacturing crossing, turning positive for the First Time Since july. We see futures hug