Our Investment Committee today will debate it we are in the red for the s p and the dow. Were off the session lows like carl pointed out, it may have had something to do with the headlines coming out of the new york Governors Press conference where he mentioned a phased out idea starting this friday the dow industrials only down 140 points the s p down the nasdaq is tech stocks up half a percent 9165 the level there our Investment Committee are making some moves today. Steve, youre seeing a couple of things happening in your portfolio. What have the recent moves done whan and what are you trading in and out of im not trading out of much i did sell some peleton. It worked out tremendously well. Not quite a double but fairly close. I still have some left what ive done is and i did this on friday afternoon is i added to baba in expectation of disney opening in china because i thought that would lift the market ill reduce that position back to a core position i bought some out of the money
But after a session with the dow dropping 160 points sell, sell, sell. The super bowl backslid 0. 49 . And the nasdaq lost 0. 80 . Really that was a day. You need to understand the economy doesnt work like that it is not like were teethinger between good and bad well have one set of good numbers from the Domestic Companies doing just fine. As long as the trade war continues well have another et self bad numbers from companies that are hostage to the Global Economy and doing terribly the chinese trade delegation went home early, instead of hanging out with farmers in montana, suddenly the market rolled over. A lot of investors believe until the big sky country darkened we might be close to a deal but there is knock on the horizon. If china would do something as low stakes as this farm visit, hence todays selloff as i told you it will be harder to reach an accommodation with the peoples republic than many people seem to think that is a good place to start our game plan. I think there cou
The Halftime Report starts right now. It is great to be with you on this thursday our Investment Committee today, joe terranova, steve weiss, jon najarian so the question here is what do you do with netflix. Is it a preview of what is to come in the coming year when netflix faces more competition doc . Well, it is interesting, mel, that their Pricing Power we all at least many of us, i was one of them, thought that he had that Pricing Power, that disney offering even though it is not, of course, fully rolled out at all, that disney offering is i think perhaps causing some folks that, and the lack of programming which they cited on the call last night. They didnt say lack of programming. They didnt say it that way. A weak slate of programming. A weak slate, thats very thats the best possible way to say it but, you know, now theyre getting back Stranger Things and a bump of the popular as well as, of course, the crown, the second versions of that are coming on to netflix those are all dr
All right, folk, it aint all pretty, but liz is. Liz oh, charles, thank you so much is. [laughter] and the markets arent bad looking either. Okay, enough. We are watching the markets always very closely as we kick off the final hour of trade. Right now green on the screen. Folks, the s p 500 at a record, it needs to close up 32 points. Right now it is up 47. The nasdaq needs to be up 243 points for a record. It was but right now its up 227. So slightly below that. But at 3 p. M. Eastern, right now, we are also keeping our eye out on the credit card issuers and some of the big banks behind them as we wait headlines from the feds Monthly Consumer credit report. May have the power to move the markets. Its released on the fifth business day of the month. Its almost a temperature gauge of Consumer Health because it covers most credit extended to individuals including auto and student lobes, but it ex loans, but it excludes loans secured by reality. Last month the Federal Reserve bank of new
Dealt a blow this past month the nasdaq up 5 the russell up 5. 5 . The dow up 1. 5 . So goes the start of the year. So goes the rest i mean, historically, you come out of a great january and most of the time you do get followthrough. Of course nothing is perfect if it were that easy, you would set a formula and there would be no need to think i dont know if its as simple as extrapolating a good january, a good first quarter, what have you, but theres a reason why that kind of thing does tend to persist over the years and decades. The stocks change. The ceos change. The products and services that theyre selling change what doesnt change is human nature and when the indices get a good start, that generally leads to chasing and generally leads to people just feeling more upbeat and better about things and interpreting data points as bullish rather than bearish so they can stay in the game. I like the way the year started. Guarantees us nothing, but probably it does do well the rest of the