All right. Im tired of hearing about the koolaid as in cramers drinking the koolaid again. On a day like today where the dow gained 107 points, nasdaq cliemded 0. 64 , i got to tell you, i know what the koolaid looks like and what it takes like and this aint it. I actually covered the horrific event where the phrase drank the koolaid came from. Back in 1978 i was a reporter covering everyone who died violently in california for the late lamented harold examiner. I was assigned the actual jim joans case, the man who lured 900 of his followers to his death because they did drink the koolaid. That concoction was laced with cyani cyanide. This market i think its laced with some tried and true principles. But to get upended by the rhetoric is next in line for the peoples temple potion. What are some of the oldfashioned concrete methods that can call this poisonous tonic into question. Lets start with the transports. It its one of the old evidence theories when it comes to stock before you c
And welcome to power lunch. Stocks are holding into the green. We have the dow up 122 points. S p is up by about 11 right now. But take a look at the tenyear note, because the yield is 1. 72 , a rising dollar, rising yield continue to be themes in todays mark. Were seeing nice gains in financials. And Energy Stocks among the biggest winners on that index at this hour. Take a look at chesapeake, trance ocean, marathon oil, free port mcmoran in the green right now. Im michelle carusocabrera. Americas trade deficit widening in august as we imported more goods than we exported. Mortgage applications climbing 3 last week and that was driven mainly by refis. Justice Department Says they have arrested an nsa contractor accused of stealing classified materials. Well have much more on that story in just minutes during our live interview with the assistant attorney general john carlin coming up here on power lunch. In the meantime, were counting you down to the big september jobs report on frida
Conversation with a foreign head since the election last week. Top of the agenda, as you mentioned, its going to be trade, its going to be business, its also about security at this point. Japan is the Third Largest economy in the world. Americas fourth largest trading partner. And very central to the transpacific partnership, the tpp, which a lot of people think the tpp is pretty much dead. Abe isnt convinced just yet. This is an attempt by him to maybe make one last push to convince donald trump of the merits of more global trade. Security is very important to japan given that they are in a region with a rising military power in the form of china. Donald trump has threatened to pull u. S. Troops out of the country. He has also encouraged japan to maybe seek a Nuclear Arsenal of its own to counter the weight of a rising Chinese Military power. But were going to try to get to an official photo later today. No video is allowed at this meeting because its seen as a less formal meeting. Th
One of the most admired and successful investors remains optimistic over americas future. This countrys productivity and magic remains alive and well. He talked about business at berkshire and his time at ibm and defended his relationship with private equity firm 3g. This morning in an interview with cnbc he made his optimism on the stock market clear. Theres never been a time in my life, i know what market will do over a long period of time. They will go up. In terms of whats going to happen in day or a week or month or year even, i never felt i knew and i never felt it was important. I will say that in 10 or 20 or 30 years, i think stocks will be a lot higher than now. If you own a piece of it, if you dont beat yourself, the only person that can cause you to get a bad result in stocks is yourself. Susie, special correspondent at fortune follows mr. Buffet closely and joins us now High Pressure his optimism not only for the economy but for the stock market is always very strong, unwav
One of the most admired and successful investors remains optimistic over americas future. This countrys productivity and magic remains alive and well. He talked about business at berkshire and his time at ibm and defended his relationship with private equity firm 3g. This morning in an interview with cnbc he made his optimism on the stock market clear. Theres never been a time in my life, i know what market will do over a long period of time. They will go up. In terms of whats going to happen in day or a week or month or year even, i never felt i knew and i never felt it was important. I will say that in 10 or 20 or 30 years, i think stocks will be a lot higher than now. If you own a piece of it, if you dont beat yourself, the only person that can cause you to get a bad result in stocks is yourself. Susie, special correspondent at fortune follows mr. Buffet closely and joins us now High Pressure his optimism not only for the economy but for the stock market is always very strong, unwav