The yield curve inverts again, the fifth time in the last week but stocks are shrugging it off. Weaker than expected manufacturing data and this season of retail volatility continues sharp moves in the stocks with more earnings movers coming in the next hour. Watching signals of the Federal Reserve. Philadelphia fed president harker throwing some cold water on any imminent rate cuts. In december i was not supportive of the increase i was supportive of the decrease somewhat reluctantly this time around to get us back to where policy should be were roughly where neutral is i think we are roughly where neutral is right now and i think we should stay here for a while and see how things play out. Well get another view from the Federal Reserve in the next few minutes here on closing bell. Coming up, an interview with dallas fed president Robert Kaplan with steve live from jackson hole joining us for the entire final hour, is mark leeman mark, it does feel like theres a little more optimism o
Josh, great to see you. Glad to be here a tight trading range for the major averages this week. Yeah. How would you sum it up so far. I think whats interesting is there seems to be this rotating cast of stocks that are working against the averaging, so today is transport i think three out of the worst stocks are railroads, some of the big ones being hit hard. Theyre not very important in terms of waiting, but very important in terms of people paying attention, either because theyre technically inclined and because they think thats a important technical indicator, or theyre people that think its an economic story that needs to be understood, and theres some skinned of bowling pin effect but i think the bigger story is that some very important stocks to the market cap weighting of the s p, netflix being a reasonable story as well theyve gotten smacked down where they could have broken out. And netflix having a tough week. And thats got an impact on psychology and on the construction of t
Stock . Steve grasso i dont think so. Bespoke, paul hickey was on. He said a great thing about seasonality, the Second Quarter is a bit tough it gets better going into yearend i think if you are a netflix bull, this really hits you in the gut, but longer term i think you can stay long. Thats looking at the glass half full, isnt it . 2. 7 i mean 2. 7 million. It is a terrible number. Versus 5 million, the first drop in u. S. Paid subscribers ever. Thats the key. You could you could argue, you could argue that, okay, fine, wall street got ahead of itself and was expecting 5 million, they came in at 2. 7 million international, but it is the loss in the u. S. When you are facing competition and you have raised prices, that really calls the whole story into question. I dont think it is international. What i was upset with was in april theyre the ones that came out and gave us the 5 million number. Right. It should have come from their guidance, was completely wrong in april how do they not
Google, amazon, intel, and many others after the bell. Coming up in just a few moments, well talk about todays pullback much more with Hayman Capital Management founder kyle bass will be good to get his thoughts especially on china. Joining us for the hour, cnbc contributor stephanie link is back from nubene are you taking a chance from this pullback to do anything today . Its an earnings bonanza. Im still way behind in the Conference Calls that started last night but yeah, during earnings season, you always get exaggerated moves. So i actually am looking at the fundamentals and trying to identify where there is opportunity. Zille yix this morning was indicated down 6 last night and only opened up down three, but i still think that is an opportunity because they derisked the numbers bristolmyers opened flat, but actually that quarter was really good, bought a little bit of that so im lacking for opportunities slowly, because the macro, obviously, weve got a lot of questions still. So,
Shaky auto market . Well hit the car lot as our special series rolls on. The long wait is over. The blues hoisting thestanley cup for the first time in franchise history. In case you missed the big game, we have all the highlights on this thursday, june 13th as Worldwide Exchange begins right now. Good morning welcome from wherever in the world you may be watching. Im Brian Sullivan thank you very much for joining us we begin with breaking news. The u. S. Navy fifth fleet assisting two tankers reportedly attacks in the gulf of oman south of iran. The u. S. Navy in the region received two separate distress calls. One at 6 12 a. M. Local time, the other at 7 00 a. M. Local time. No word yet on who may be responsible if these were attacks, this comes a few months after four other ships were struck or attacked in that region neither of these ships were carrying crude oil, but oilrelated products still because of it oil spiking on that news news started to break a couple hours ago. We got o