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Plus, there are fewer than 50 days until christmas and wall street is concerned about a retail apocalypse. We have the details about that, and later, its been choppy waters for Royal Caribbean the stock is cruising higher the ce will be here for an exclusive interview. Power lunch starts right now welcome toll power lunch. Im melissa lee. The major averages are recovering somewhat after falling in the red on reports of a delayed trade deal we have the dow and the s p 500 marginally higher right now. The nasdaq is down by a third of a the russell taking it the hardest. Lets get over to bob pisani for more theres been reports theres no clear deal yet over the terms of a phase one deal with china, or even whether president xi is going to come to the table on the deal industrials, theres your classic one, caterpillar, 3m, united technologies, theyre all down a bit today some of the semiconductors like micron also a little weaker as y ....
Made an offer to buy the company. Josh brown, Wealth Management. Josh, great to see you today. Whats going on s p and dow basically hugging the flat line right now, taking a breather, i guess you could say, from the record run we saw earlier this week. I think you nailed it thats exactly what i see going on indices are stalling out given the runup, i dont think, should be a huge surprise. Rates are higher, which is interesting. Lot of the big winners of the year, like iyr, xlu. Anything rate sensitive also taking a breather. Xlf is falling out, the financials indexing etf got above a 70 rsi for the first time in i cant remember how long thats an overbought index when was the last time we were talking about the banks being overbought you have this confluence of things its perfectly natural keep in mind the big picture caterpillar, the whole industrials xli, etf, all hit new 52week highs yesterday. Honeywell, new highs these are ....
The stage at the deal book conference lets listen in sfl back to our stage youve been with us before we thank you now. I have. One of the reason we wanted to see you was because we are right in the midst of the streaming wars. We are. Which have just begun with apple plus last week and with disney plus coming next week and i want to use this opportunity for you to help us understand how youre looking at all of these different components parts and whats about to happen to our media ecosystem. Here is where i want to start the conversation. Okay. I know you have historically said you dont have think you have any competition or if you do it is with sleep. Do you remember that line . A great line only got a couple of laughs here but you got more laughs before. When i do it its better. Thank you and so my question is now that you see whats happening in this ecosystem, an ecosystem which you effectively created or at least inspired what you think is going to happen. Look at hbo max, disney p ....
Certain tariffs. Not just a trade deal, but actually removing some of the economi existing tariffs earnings continue to lead us higher just a bit. We have names like kroger and tapestry, the old coach beating expectations joining us for the entire hour is a man you know well, steven weiss from Short Hills Capital partners steven, good to see you down here at the New York Stock Exchange good to see you brian good to see us both heres the thing, earnings, trade, maybe just general positive market sentiment. One of those three or maybe something else, that has been the primary driver for what has been a nice little run we are up nine of the past eleven sessions on the s p 500 i think there are multiple drivers to the market. Trade being the most important and the most dominant. You can see the correlation. For those who say that trade is all in the market, thats cl ....