Nothing the last couple of weeks . I think the last ten days, weve been talking about the distinction between having a longerterm portfolio and wanting and needing the exposure to technology and really not touching the technology in the longerterm portfolio. This is a shortterm trading event. I think today we are bouncing. I dont think its over for a lot of the volatility that were seeing in the fang names we could see more, if you want to selectively buy in your longerterm portfolio, im fine with that, and as far as getting out of amazon, longer term, i dont think thats the right thing to do. Okay, difficult to get inside the head of somebody whos not sitting here to answer the questions himself or herself but weiss, what does it say when a guy who runs a tech fund at a big place like t. Rowe price, whos beaten 99 of his peers over the last decade has said enoughs enough on amazon and says the following when sentiment lifts, that is when we usually take money off the table. That is ha
Good Tuesday Morning welcome to squawk alley. Joining me at post flnine this morning, sarah eyeseyer eisen. Also joining us is roger mack in a my good morning to you. A lot to get to to dafrment first up, faang stocks several hedge funneled managers bearish on the stocks in the Second Quarter third point, aprpaloosa and soro are liquidating 18 stakes in those areas. They speak out on the companys streaming strategy versus fellow faang stock amazon you wrote an oped in investing in the stocks two days ago do you seenlt. Turning as were getting the filings to day i dont yet and, in fact, what i am really curious to know is where the money went that was taken out of the stocks if you look at by funneled, the sales werent in general huge. Most of them look more like trims than, you know, lots of dumping. And, in fact, the thing that i think everyone looks closely at tech recognizes is that the faang stocks are leadership stocks for a really good reason. Their market power has given them hu
Future key figures at the white house of where the stocks will go i think there are the concern is there any life to the trump agenda, and there was a feeling growing in the marketplace that the republicans and the administration couldnt get a vote on what time of day it was, that nothing was work g working. And then when the idea that mr. Cohn might be leaving yesterday, that frightened the Market Reports of mr. Bannon being let go helped in two different ways. Number one, they think hes mildly disruptive, second darely this will reinforce cohn because he was an adversary of cohns. Weve gone a minute and a half into power lunch. I want to bring in michelle cabre cabrera caruso i wonder what this will do to try to get the narrative back of the kind of agenda he wants to put forth. Theres the bigger question about general dysfunction in the white house and specific issues when it comes to it. Even the wall street journal editorial page says steve bannon was a source of dysfunction. If y
In asia, the nikkei closed up by 1 . Shanghai was down about 0. 4 . Hang seng was up by 0. 6 . In europe, some of the early trading right now, it looks like the dax is up by 0. 6 . The cac and the ftse are flat. If youve been watching the tenyear note. We fell below 2. 4 on the tenyear yield. This morning that yield is at 2. 38 4 off the lows of yesterday. If you look at crude oil prices, crude down 11 for the month. Its up 42 cents today, sitting just above 48 at 48. 16. President trump will be taking aim at former president Barack Obamas Climate Change policy by signing an executive order on Energy Independence today. The order will seek to curb the federal governments enforcement of climate regulations and focus on protecting american drives. The move expected to get legal and political pushback. The monthly s p 500 caseshiller home price index comes out at 9 00 a. M. At 10 00, march Consumer Confidence. Several fed officials speaking today, including janet yellen on Work Force Deve
Debate on deck tonight. Europe with minor losses and claims were slightly elevated. Well get ism services in about an hour. Of course, were just a day from jobs friday. Energy pioneer Robert Mcclendon dies in a horrific car crash. This is a day after he had been indicted. Were going to go live to oklahoma. What jay my dimon told cnbc about the lie of hitz bank. Mitt romney is expected today to deliver a harsh set of words on donald trump, describing the frontrunner as a phony and a fraud. First up, though, futures are a little changed as stocks hover and jobless claims rising. Thats a bit higher ahead of the number tomorrow. Jpmorgans jamie dimon joined squawk box earlier this morning and had a pretty upbeat take on the economy. Take a listen. The average economy, more people are working, wages are going up. Theyre spending money, their Balance Sheets in better shape since its been recorded, the consumer. Theyre buying cars at alltime records. Home sales are going up, home formations a