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15month low. Australia cutting rates, auto sales on the way. Roadmap begins with tim cook. He joined jim on mad money last night covered everything from innovation to china to revenue to the companys value. Global data driving futures. Well tell you what to expect on wall street today. And shares of aig down in the premarket after earnings. Peter hancock will join us live. First up, tim cook defending app apples latest results and the stock mired in a slump. He was on with mad money last night. If you talk about macroheadwinds, difficult compares dominant. Yeah. Currency, no new iteration yet. If youre going to be opportunistic wouldnt you say let all the hedge funds blow it out and then well make a statement . Well, opportunistic to me means you buy it when you think the companys undervalued. We believe the companys undervalued. All right. I got to get your thoughts on what he said and whether it changed your view in any way, whether it should change other peoples views. I think if yo ....
Expected. I think the bulls managed to escape without too much damage. The dow climbing 80 points. Nasdaq even advancing at 0. 4 . Underneath we have some real erosion going on that was not even pinned to employment. Or the fact the dollar seems to want to get stronger and oil cant seem to get much lift which is bad for buyers. In fact as earnings season winds down were seeing some real bad earnings themes emerge. Themes that are pernicious to the earnings of Many Companies and bountiful to the profits of just a handful. Why dont we use next weeks game plan so we can both hail and eulogize the results. A wholesale shift to companies far more internet oriented than bricks and mortar. Way up at amazon. How about the Battle Ground stock that is wayfair. The Online Furniture company that reports monday morning. I cant wait ....
Stock exchange. We await for a fed meeting to begin tomorrow. China slips 3. 5 overnight. Japan leaves policy unchanged. Back here, retail sales okay. July revised up. Good auto sales offset by lower spending at the gas stations. Ahead of the rate decision, former central bankers are out today with more pronouncement force the fed. Asia continues to suffer. Shanghai down 3 as the bank of japan holds on a rate move. An upgrade forfe fitbit. More data for the fed to digest ahead of the twoday policy meeting set to get underway tomorrow. Retail sales up 0. 2 . Last month stripped out auto sales up 0. 1, that marks six consecuticon seco consecutive months without a decline. How does this get digested at the table tomorrow . The areas that are strong in the economy are rate sensitive. Autos, housing. I know a lot of people say bring on the rate increase. But you just mentioned where the strength is. That strength can be taken away. It can be taken away by a belief that unless the statement ....
Weakerthanexpected manufacturing data and the brutal 3. 6 decline in the chinese stock market last night. How can this clearly bad Economic News produce such a remarkable run . Dow climbing 229 points, s p jumping, nasdaq gaining 1. 14 . Is this opposite day . Perhaps the market lost its mind . No, its like weve entered bizarreo world with bad news is good news. Why . The uglier the backdrop, the more likely the Federal Reserve stands pat and refuses to raise rates when it concludes its deliberation this is thursday. This fed meeting, like it or not and you know i dont like it is the most important event of 2015 for two reasons i dont recall a more opaque fed. Its driving me crazy its about to render a momentous decision that will surprise people. Second, the consequences of a rate hike, listen, youre not going to get that plus and minus stuff for america its plain negative f ....
Dow up, s p 500 up and nasdaq soaring, it is remarkable to see the makeup. It is almost as if theres a recipe, a sure fire way to bake a bull cake, so to speak. And what exactly are the ingredients . First, the most important ingredient for turbo charged market is Growth Without inflation. This has always been the holy grail of every single rally ive ever seen since i started to invest in 1979. At yesterdays meeting, janet yell ensaid we have that combination. The fact it is not producing wayne gains or Housing Market means it may not be helping regular people but does it work wonders for the stock market, always does, always well. Stocks as an asset class perform best when this rare inflation without growth or success. What i call an exquisite moment. Two. We know you should never fight the fed. This is an old adage i heard on wall street week. He had done empirical work sho ....