In fact it closed down 30 bips. Big deal. And in fact, to try to preach a lot of fear mongering right now is a dangerous thing to do. Having said that, theres a lot of damage underneath the surface. Theres a lot of stocks today. We talked about how weve been printing many new 52week lows across the board. And Commodity Prices are telling you something. And clearly is this deflationary . Absolutely. Is this good for the consumer . I think absolutely. Does this mean that Global Growth is plummeting . I dont think so. So on some level there is a supply issue. On some level theres an asset issue. And i think thats how you have to look at it. But to say the stock market is very healthy right now because its only a couple err percent off the highs is not something i would say. The tlt outsize move up more than a . Xle on the s p 500. Thats not good. 2 1 4 in terms of tenyear yields. Thats been a pivot point for a while. Were somewhat significantly below that. I still think yields go lower. I
Billion in market cap. That is equivalent to three teslas, three yahoo s, two netflixes, or one mcdonalds. So does the stock have further to fall here . Could this be the best opportunity to buy apple the whole year . Guy adami, what do you say . Thats real cute with the sock puppet there, mel. If the puppet fits, man. Listen, tims been on this. Dan as well in terms of the price reaction over the last few months. Its definitely hit a soft patch. Is it the best time to buy . I dont think so. I think technically now it sets up to move toward levels we last saw in mid december and a couple times in january. Effectively 105. Doesnt mean the companys broken. Doesnt mean its not a great stock. It just means technically thats what it should do. What could it be a cause of . I think this china move has farreaching ramifications. Who knows if its margin calls manifesting themselves in the selling of apple . It could be a number of things. But think 105 is a level you look to on the down side. W
Fargo now that the hearing with ceo john stumpf is over. And the man behind the famous competitions will join us to discuss the race to space. Peter diamandis is here. We have john down here over at post nine and our own rick santelli. Jonathan, there is a couple of ways to look at this, right . It looks like everything is coming up roses but is this because there is this sense that the Federal Reserve is stepping back here to let it rip. It is the same sentiment felt. The concept of raising Interest Rates in 2016 is not completely off the table. They have dangled language in front of us. I think that kept people complacent and the market complacent for a very short time. We are looking forward to december as to what is going to happen. It seems the fed a year ago said lets raise rates now and address again in a year. We have december 16 on the calendar. The market is back into the range that we saw for six weeks during the summer time. 2,150. I think we will stay here for a little bit
What gelljanet yellen does. The banks fell nearly 1 . Deutsche bank leading the way lower and with the fed meeting next week and the government probe of wells fargo leading up, are financials a no touch heading into next week . Dan, what do you say . Its not just whats going on with wells fargo and Deutsche Bank. You have two fed meetings. If we get a string of bad data, maybe its jobs data, maybe its manufacturing data, they may not go 50 50 in december and these banks need higher ranks for them to continue to go up. Like you said, mel, theyre down on the year. Its one of the worst performing s p sectors. I dont see anything that compelling. I dont see Interest Rates ramping up between now and the end of the year at any time to make net interest margins that compelling and i think it will be a political hot potato. I think the question is at this point do the banks have priced in they dont have priced in a hike next week, right . Thats over. That was there was thats over. I think ther
Hortons. Well speak with two freshmen congressm congressmen, one democratic, one republican, about what washington is prepared to do about it, or if all this rhetoric is now just electionyear politics. Is bigger better . Apple seems to think so. A bigger iphone coming and maybe a bigger ipad as well. Could this be the tablet that finally allows you to throw out your laptop . I hope not, mines kind of new. As apple stock climbs above 100 bucks, well investigate what apple might have up its sleeve. Im rather attached to mine as well. Im with you. In the markets with an hour to go, the Dow Jones Industrial average off seven points, further away from its alltime closing high of 17,138, i think, if im not mistaken. The s p 500 yesterday closing above 2,000 for the first time, today giving up three points. The nasdaq giving up about five. There has been there have been headlines, we should say, about tensions between russia and the ukraine, scott. But frankly, markets here have been more or