Yesterday carl was a discouraging day for a lot of people who have been chasing momentum because last week was maybe one of the best momentum weeks i can recall since 1999, which meant that if you bought it went higher and how much fun is that . Yesterday was the day that you bought it went higher and then you got crushed. So i think that usually takes a couple days of reset where maybe you can after stocks that arent as hot, say, as tesla. So you would focus, say, on Something Like the banks ive been through the banks and i know dave and i talk about this all the time, they are incredibly complex beasts, they are not like, oh, tesla, hot and when i first went over them i thought they looked pretty good but already theyre reversing. This is not an uncommon pattern as people find one line or two line that they dont like and then they sell these stocks. David, its happening once again. You know that these banks could have had littered with bad loans, its not, they have great trading, the
With tim cook. And one company is shrugging off concerns about an economic slowdown in china. Well tell you which one it is. A moment of truth for lyft as insiders get their first chance to sell shares at the open stocks are set to build on fridays rally, were heading into this mornings trading session, the dow is within 394 points of recouping all the losses from that wednesday selloff of 800 points is the economy at risk of recession . Take a listen to what the president and some of his top aides said yesterday i dont think were having a recession. Were doing tremendously well. Our consumers are rich i gave a tremendous tax cut. And theyre loaded up with money. And theyre buying i saw the walmart numbers, through the roof. I dont see a recession we had some blockbuster retail sales consumer numbers towards the back end of last week. We had the strongest economy in the world money is coming here for a stock market also coming here to chase yield and our bond market. Vice president tod
Of Beverly Hills to the conversation of the year. We are delighted to be partnering with the bucs to bring them to speak about his newest book god a human history. Before we bring him out, i want to give you a little context about what the conversation is here at the temple emmanuelle. We started the Program Last Year in response to help civic fabric has been tearing and the idea that it has been harder and harder to have conversations with people when we disagree, especially on issues that are important to us. So we were lucky to have the family come forward and to help us formulate the conversation. All of whom have been significant partners helping us shape this event. We are lucky to have them and events like this. You might be wondering what it is but a conversation about god has to do with Difficult Conversations and what i will say is i think that youre good at a lot of things but one of them isnt necessarily the ability to talk about god. We dont often talk about what we do bel
Points, s p dipped 0. 35 , nasdaq climbed 0. 30 we have to wonder if amazon would be responsible for some of the real damage. Its come down 125 points from its high amazon stock off another 8. 95, led us lower today it is the general sell sell sell. To the sell side. This one keeps standing out. Standing out among the weakest i can see the bear case unfolding. A month ago, amazon seemed invincible, didnt it . The other day, the former ceo of home depot gave an interview with called amazon the dark star of retail. He said Everyone Needs a strategy to deal with alexa, because lexa may be driving business to amazon instead of the competition. Now we learned today that walmart has teamed up with google on its home assistant thats competing with alexa. You could probably ask her to book a vacation somewhere and she would know where you would want to stay from what she has in the past, she could do it better than you could and less time alexa knows everything about you. I wish i had her help
Energy prices are likely to be a point discussed at todays fed meeting. The fomc is expected to turn off its massive Bond Buying Program while ensuring investors it will start ready to act should the economy be threatened. And we will have Steve Liesman joining us with the exclusives from the fe survey later this morning. The s p caseshiller index, consumer confidence, and Third Quarter housing data. As for earnings, among the names posting Quarterly Results before the bell, dupont just hitting the tape. Pfizer, auto nation, corning, when i will pool. Coming this up afternoon, facebook will be on Centers Stage after a market closes. We have the dow looking like it will open higher. Up about 11. 5 points. The nasdaq will open higher, as well, by approximately 24 points. Earnings per share, sales, 7. 5 billion. Revenue is 7. 87 billion. So its a different number. 7. 87 compared to 7. 95. So maybe just a little bit shy of expectations. But pretty close. And then for the year, the company