Rally about to hit a wall in 2020 joining us, jeff richards, and paul meeks good morning, guys good to see you. Paul, let me begin with you, ask you why . Is it because things are expensive on a relative basis . Thats right. I have been around a long time i remember with lashes on my back what happened when the internet bubble popped not falling for that scenario. I expect the u. S. To grow at a decent rate, fundamentals of most Tech Companies, not all, to be reasonably good, but the bulk, particularly of marquise tech names are trading at valuations getting me a little scared because i think much too much is priced into some of these names as we roll out of 19 into 20. Jeff, we hear that. On the other hand, you might counter with the fact some of the names got a haircut second half of the year episodes like wework, some argue, are healthy in the long run for staestablishing discipl. What do you think . I remember folks being concerned about tech stocks end of last year, had quite a ru
By and by down by the sleigh well wander, sweethearts you and i wait til the sunshines, nelly, by and by terrific. Merry christmas, everybody and one of the traditions is to bring children and grandchildren down on the floor. Theres a number of them here today. Tell me your name. Shannon youre the daughter of a retired member, right . Yes. His name . Michael spidaro do you know why the New York Stock Exchange is important . It makes new companies and businesses thats the right answer thanks mike, one of the big traders for gts does all of the Retail Stocks your work through the year, keeping the markets moving and keeping liquidity in the market. Thank you, bob. Merry christmas. Art cashin, 55 years, started almost this day, 1964. Thats correct. In the same book as John D Rockefeller and jpmorgan they were just a touch older than i am. Lets hope youll outlive them all by a long way thanks very much Merry Christmas. Thank you all for coming down for a great tradition that goes back 150
The s p 500 by the way is having its best year since 2013 we do have a if you more trading days left in the year and you can still notch the best year since 97. Well see where things shake out but people are already apparently going for the egg nog. Trading was little light, as they say down here today certain lay different tone from last years Christmas Eve joining us to talk about the markets. The senior Portfolio Manager paul hickey, cofounder of the Investment Group and the Portfolio Manager. Great to see you all ill start with you. What do you make of todays Market Reaction . Yeah. Just light volume. I do think this year were in a complete market meltup. Kind of an interesting time where things can get a little bioverdone and i would be kind of cautious here and look to maybe take some profits and sell some of those names in the portfolio. It might be overvalued here. And i would understand if you think that you do get some selling once you turn the calendar over. People dont want
And lately its proving which. Were talking about technology ocks. Thesi nasdaq com dominated by tech closed at yet another record high today, now on track for the best year in a decade as a matter of fact. Theector as reflected by in etf is up more than 40 so fa this year. And its been helped by a 50 gain in sem conductor stocks and a doubledigit rise it in social media shares. As it happenings the nasdaq was the only of three major indexes to finish higher. Lthe dow f 102 points. Back below 28,000. The s p fell by 1 point. Bob pisani looks closer at techs big run. The markets clearly overbaulgt butot much worry not yet. The major averages chewing in which and eit highsry day. The s p up 10 off 3 trading day this is month. The marketic tecns dont seem crn the market is getting too far ahead of its. There is the fear offis ming out calling it f. Omo. He is that is forefactor the s Technology Store the big leaders in particular. The top ten having big gains above the s p 500. Look. The s
Morning. It is a condensed trading day. All the major averages are slightly lower, but we begin our busy day on amazon deidre bosa is in San Francisco with more on why this Holiday Season is primetime for the etailor and were seeing how amazon stacks up to other retarls ilers many up their own games. And i promised that i would get to your items and so now is a good time for your kids to turn off the tv morgan is in the market for a smart tv and the price is pretty of the same because retailers need to honor the manufacture ear suggested retail price so we looked at shipping how fast can you get it . It was pretty close here again, but amazon will get it to you by sunday the catch is that you have to have that 119 prime membership. Best buy increased its logistics spending by more than 90 last year so it will actually get you the tv just one day later on monday with no additional cost. Walmart by tuesday david, idsimilar idea with that camera on your list. We chose a good entry level o