I see london, i see france, i see you in your underpants i always hated that diddy when i was a kid but you know what . It perfectly describes todays actions. Sellers caught with their pants down tipping just. 15 . Yep, this morning investors saw london and they saw france, not to mention milan and madrid. Specifically the europeans getting hammered as covid back on the continent they figured wed import those losses from europe so they furiously sold their stocks to get out ahead of the weakness. Many of these jokers probably trading in their pajamas the feet with the dr. Dentons. Panic pretenders here dumped shares at a 10 1 ratio, meaning there were 10 shares for sale or down for every 1 share someone was trying to buy. Now the late, great mark haines, one of cnbcs finest, always used that 10 1 ratio to call bottoms, including the generational bottom that he nailed in march of 2009. When the ratio sellers to buyers is 10 1 hed say you have to hold your nose and buy because that kind
Picture. Goldmansachs expects the fed to begin easing in q2 of next year. Also ahead, were going to talk about what is next for the tech sector. This is in the midst of whats been a rough august at least so far. Were down 7 month to date. And letter x Surging Company rejects an unsolicited takeover offer from its rival, cleveland cliff. Lets get some other news, though, as well, as we start the show paypal has a new ceo whoa. Yeah. Alex, who currently runs the Small Business and selfemployed group for intuit, is going to take over from paypals longtime ceo dan shulman on september 27th according to members of the board a little earlier than expected they conducted the search for paypals new ceo shulman will remain a paypal director until next may. Chriss being hired was a result of the process where the board interviewed nine ceos. They reduced that pool to four candidates and then they chose mr. Chriss members of the Board Selection Committee tell me he impressed them with leading a d
The facetoface meeting of the minister of health with the people. We have a law called the Supreme Health Insurance Council the Supreme Council of Health Insurance is made up of all insurances, that is, Social Security insurance, baggage from the armed forces, baggage of supplementary insurances, baggage there is in the form of a council, and the decision they make becomes a law, that is, at the disposal of the ministry of the council, according to the resources they have , according to the facilities that they have. The Insurance Council may accept it or not. One of the retired teachers had a complaint that one of the insurances does not cover the treatment costs. Go to the National Pension organization, i went there, i said we we are taking action, i didnt do anything, the insurances generally say that when a patient comes, we cant pay immediately. Why does it have to be a document . Unfortunately, some of these documents are not formed properly, sometimes we see that our Social Secu
After that vote it does go to the senate. That could be very, very late tonight before the senate ultimately does get to vote on it but we hear from mitch mcconnell, the senate leader, he expects that to happen. Could be in the wee hours of the morning, might not be. So much hinges on this, once signed, sealed and done right to the president s desk we are told maybe by the end of the week he writes off on this hard to say. This much is not, were watching it very closely as the dow kind of sort of pauses and takes assessment of all this stuff. Charlie gasparino with us, market watcher paul deet trick, gop fund raider extraordinaire knoll nikpour. A lot of your did is buddies are hoping this is done deal. Jeff flake is not running again. The will not want to go on as only person to pull a john mccain with thumbs down. Not good for fundraising, not good for morale. At end of the day he is republican. Neil he voted yes last time. Corker voted no last time is yes this time. Do you think it
A month. We begin with stocks largely shutting off dc uncertainty. Wall street on its positive week plus, count down to a shutdown the senator appears on track to reject the spending bill shares of ibm. Its first gain of the 20 quarters stocks are showing some resilience despite of a shutdown of the government. Yesterday the dow hit the all time high before soliciting blik to the territory i got to tell you of the little take up which some people want to magnify on a percentages bases. I dont know how to reverse it caterpillar and boeing, great industrials. You can perhaps come up with a thesis at a certain point and you want the dividend. There is so much money this is too good. Lets touch on the shutdown the house passes the funding bill last night, 231197 republicans have 51. We talk about markets not really behaving dramatically in a shutdown unless a debt limit is a factor which is it is further off. You perfectly summed it up. It is not about the s p, it is about guys trying to f