And were hanging out there now. Utilities, financials, they are among the standouts this week. Yields are up a bit too on some hawkish leaning fed speak, and were going to get to that in a minute as well it does take us to our talk of the tape the rally, how resilient this market can remain. Lets bring in kevin gordon, Charles Schwab good to see you. Its been a minute. Nice to see you this markets been incredible its been resilient in the face of so much theoretically its had this nice bounceback. What should we make from it . I think whats nice is through this mini pullback correction, whatever you want t call it, youve removed frothy sentiment as a pretty big risk that had been a risk from midnovember up until march where you had seen indicators on the behavioral and the attitudinal side that had gotten way into excessive optimism territory. As we know from history that can happen for a while until you get a negative catalyst to tip you over that negative catalyst probably ended up b
The iron dome and their ability to respond to attacks. The political attacks starting almost immediately based on that interview all over the country and the world. A lot of criticism on one side and praise on the other. Its getting complicated quickly. Some in israel and the israeli um far right elements saying hamas loves biden. Some people saying hamas loves biden or some saying michigan over israel a lot of credititique over ther. I dont want to weigh in on it i know whats going on i think its horrific. Its horrific. When you at the beginning know what is clear what israel had to do now one of our greatest allies and the most stable ally in that region of the world and important region of the world and were pulling the rug out from under them. I do. I agree. It goes to what we showed yesterday with that clip the great conundrum of war an to is you have to do it quickly and get in and out the politics of doing it he was making a moral argument he said all of this is questionable he
Engine trouble at ford, and a fast mover. A name we rarely mention on the show. The stories behind three stocks today. Were coming to you live from studio b at the nasdaq. On the desk tonight, we have tim seymour, dan nathan, guy adami and our special guest trader tonight, kristen bitterly. Welcome to everyone. Were going to start with the lateday selloff. The dow falling as much as 350 points at its lows. The nasdaq and the s p down as much as 1. 2 . The indices closing off their lows of the day, but all three still snapping a fourday win streak. The pullback colliding with that 30year treasury option that showed weaker demand. Jumping back to nearly 4. 9 . All of this as wall street was digesting the latest cpi data. Consumer prices rising 3. 7 in september from a year ago, slightly more than the street estimate. Energy, used car vehicles, prices falling, but it wasnt enough to offset the gains in things like food and shelter. So, how should the market be digesting all of these data
Its pretty weak overall. You look under the hood, theres the picture from the three sectors i mentioned. Financials, theyre lower too as they get ready to kick off earnings season. Citi, jpmorgan, wells fargo, all of that before the bell. Tech, well, it was one of the only decent spots today. Even it has rolled over. We show you the tech xlk etf. The nasdaq performing better lately and still on track for a relatively strong week, can tech alone carry the market higher into the end of the year as it did for the First Six Months of 2023. Lets ask someone who count thes several tech names of top holdings. With us today at post 9, joe terranova, joe a cnbc contributor. Its good to have you both with us. Amy first, were still worried about rates, obviously. Weak auction, cpi, ppi, both a little hotter than expected. How do you see it . Yeah, i think, you know, the market is obviously on its toes. Youve got higher for longer. Thats the bottom message. Youve also got a number of market dynami
Good the chart master will make his case for why these two health care losers are ready to make the move from doghouse to the p penthouse. Im melissa lee, coming to you live from studio b at the nasdaq on the desk tonight tim seymour, karen finerman, carter worth, and guy adami. Uber posting its biggest stock drop since october 2022, after reporting a surprise loss in its latest quarter, saying that ride bookings came in below expectations s shopify plunging 19 , making today its worst day on record. The Ecommerce Company forecasting sales growth for the Current Quarter that would be its slowest in the last two years. And they werent the only earnings reports that raised red flags. Just yesterday, disneys cfo saying they are seeing evidence of moderating demand for travel. Mcdonalds last week warning consumers arediscr discriminating in elevated prices and then, theres this the looming threat of socalled phantom debt created by the rise of buy now pay later Juniper Research estimating