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Made an offer to buy the company. Josh brown, Wealth Management. Josh, great to see you today. Whats going on s p and dow basically hugging the flat line right now, taking a breather, i guess you could say, from the record run we saw earlier this week. I think you nailed it thats exactly what i see going on indices are stalling out given the runup, i dont think, should be a huge surprise. Rates are higher, which is interesting. Lot of the big winners of the year, like iyr, xlu. Anything rate sensitive also taking a breather. Xlf is falling out, the financials indexing etf got above a 70 rsi for the first time in i cant remember how long thats an overbought index when was the last time we were talking about the banks being overbought you have this confluence of things its perfectly natural keep in mind the big picture caterpillar, the whole industrials xli, etf, all hit new 52week highs yesterday. Honeywell, new highs these are ....
The stage at the deal book conference lets listen in sfl back to our stage youve been with us before we thank you now. I have. One of the reason we wanted to see you was because we are right in the midst of the streaming wars. We are. Which have just begun with apple plus last week and with disney plus coming next week and i want to use this opportunity for you to help us understand how youre looking at all of these different components parts and whats about to happen to our media ecosystem. Here is where i want to start the conversation. Okay. I know you have historically said you dont have think you have any competition or if you do it is with sleep. Do you remember that line . A great line only got a couple of laughs here but you got more laughs before. When i do it its better. Thank you and so my question is now that you see whats happening in this ecosystem, an ecosystem which you effectively created or at least inspired what you think is going to happen. Look at hbo max, disney p ....
Manufacturing data this morning. Weve got full Team Coverage of todays selloff bob pisani is covering the markets reaction to that weak manufacturing data Bertha Coombs is watching the movers at the nasdaq Rick Santelli is looking at todays action in the bond market lets check in, though, where we stand. We are down 281, the low of the session on the dow was down 347. A slight improvement in the last 30 or 40 minutes or so but a significant fall from where we opened up 129 points or so lets check in with steve grasso from Stuart Frankel whos joining for the full hour. Steve, what is this . Recession fears again or is it justified to see this slippage you know, its funny, you know, im tempted to just jump onboard and say its all recession fears. And then you have the fi ....
Deep in the read as a key read on the health of the economy slips to the lowest level since the great recession. That got us thinking, is history about to repeat in firing up the time machine for back to a year when this played out on air you hear the musicon see the raging bull. You know what that means the dwou hitting a record high for the First Time Since january 26th joining the s p 500 and nasdaq both at alltime highs as well. So that was the setup heading into q 4 of last year. Fast forward a few days and this happened fast money starts right now we breaking news stocks getting shattered today. The dow having the worst day since february tanking more than 800 points, the selling accelerates into the close. And we close the dead lows of the day. Snpd fiefd now the lose worst losing strategic in two years. The question i pose to you all tonight. Dramatic. Are we setting up for repeat of last year tim well, think about year ....