London Stock Exchange. We get perspectivy from one of the rivals terry duffy joins us exclusively here on set. But first, its still on and we are talking about the great roe rotation so many of the desks have been skeptical of maybe even poopooing at times. Showing tahoe strength here in sectors russell, banks, retail to name a few. Whats making you a believer, guy . Its a fascinating question i mean the market has an uncanny way, not that i need help making me look silly. Within a of alltime high of the s p 500. Everything looking fantastic when do i become a believer . You know, i dont know the answer to that but what ill say is the head winds havent gone away that much yes rates backed up probably a healthiy move yes the gold market not exploding up maybe the situation with hong kong has abated but its still there. The market is looking past them. I dont know how to answer the question because the concerns i have i dont think it they dont get resolved in one day. I know how to answe
One obviously will be iphone revenue, it is 26 billion, basically in line with what the street was looking for it is down 12 , but it is an improvement from q2. Remember, it was down 17 . I had a chance to catch up with ceo tim cook i asked what kind of impact the Trading Program was having there. Remember, one big roll here for the iphone franchise, why it is facing challenges, the replacement cycle is getting longer i asked cook is the tradein program impacting that at all. He said it was, it was a key reason for the sequential improvement. Services will be in focus, 11. 5 billion. Though apple has the onetime litigation settlement. It is up 15 from the comparable figure a year ago. I did ask cook about some of the new services on the way like the new Video Streaming Service and i asked him, melissa, how he will judge the service cook telling me the most important thing is, one, the product, and, two, the number of subscribers, whether we are going to announce it i dont know we only
Charles we are trying to gas charity for future generations. Liz have a good weekend. March madness as we kick off the final hour of trade in the first day of a new month. We are not talking the s p and nasdaq at new record highs. Any gain at the close for either of the majors will seal the deal. The s p higher by 41 points, the nasdaq gaining 200, Dow Jones Industrials up 77. Where are we seeing madness . It is one of the biggest laggards as we pick up a final hour of trade. Major headlines swirling around boeing. Look at the intraday chart and cratering in the stock that happened at 10 509 am eastern time. Thats when a wall street journal report hit the tape that boeing is in talks to purchase spirit aerosystems, opposite chart here, shares immediately responded, spiking as high as, lets see, 200 . The high of the session, spirit aerosystems, significant gain, 33. 99. Spirits market, 3. 7 billion. It used to be part of boeing but was spun off in 2005. It is the company that is behind
With shares slipping in the premarket. And later in the show, why disney claims that rumors of espns demise may be greatly overexaggerated. It is thursday, october 19th, 2023. You are watching Worldwide Exchange here on cnbc. Good morning. Welcome to Worldwide Exchange. Im frank holland. Lets start the day off with the check on u. S. Stock futures. Take a look here. You can see red across the board. Dow would open up 125 points lower. S p and nasdaq are opening up lower as well. After the major averages in two weeks with the dow closing down nearly 1 . The s p and nasdaq losing more ground. Still worse for the douse w tra f ports closing down 3. 2 . This is seen as a recession leaning indicator. That sharp move lower is topping bond yields with the tenyear yield hitting the highest since 2007 and hoefveri below 5 . 4. 979 . The move in yields is moving borrowing costs. Look at the 30year fixed Mortgage Rate at 8 for the First Time Since 2000. Up 22 this year alone. You see it right the
I say to take it. The federal government decided to get a lot of money away. The dow gained 720 points. Nasdaq coming to a new alltime record. Today the market was consumed by smaller investors getting chairs of lousy stock like game stop and amc. They are betting that the short sellers will be able to take the house of pain and then they go buy stock create in the short sending them to ever dizzying heights. We dont know when that ends, but it does and eventually and it does not end well. It sure didnt the last time they did this in 2021. It leaves many People Holding a deflated bag. For now i want to talk about the big opportunity nobody seemed to care about. Washington is giving money away. In a fact sheet that hit my desk from the white house, President Biden takes action to protect American Workers and businesses from chinas unfair trade practices. The president believes the chinese are flooding Global Markets with artificially low priced exports so biden is using his power to sla