jeremy siegel. steve, thank you as well >> pleasure. >> josh lipton with breaking news in san francisco for us scott? >> reporter: scott, it is official apple is indeed buying shazam. we are thrilled that shazam and its talented team will be joining apple. since the launch of the app store shazam has consistently ranked as one of the most popular apps for ios and is used by hundreds of millions around the world across multiple platforms. apple music and shazam are a natural fit sharing a passion for music discovery and using great music experiences to our users. we have exciting plans and we look forward to combining with shazam upon approval of today's agreement apple is not disclosing how much it paid but shazam raised $1 who million from investors including sony music and apple looking to build out and invest in that music service. apple music service has 30 million subscribers as it takes on rivals like spotify. >> likely a drop in the bucket whatever it is, considering how much cash apple is si

dow is down 118 points we'll welcome in jeremy siegel next for his thoughts on what's taking place in the markets over the last 24 hours. well, the national debt is $20 trillion. as we keep adding to it, guess who pays the bill? him. and her. and her. congress, we should grow the economy. not the debt. ♪ [phhello.ng] hi, it's anne from edward jones. i'm glad i caught you. well i'm just leaving the office so for once i've got plenty of time. what's going on? so those financial regulations being talked about? they could affect your accounts, so let's get together and talk, and make sure everything's clear. thanks. yeah. that would be great. we've grown to over $900 billion in assets under care... by being proactive, not reactive. it's how edward jones makes sense of investing. >> welcome back to the "half time report. we showed you what's happening with stocks today. the dow down 350 points, now it's down 0.4% s&p is down two-thirds, and the s&p is still down. carl icahn yesterday sounded cautious on the markets. here's what he said about the record rally >> i think it's run away it mig

our sue herera >>> jeremy siegel was one of the early believers in this massive market rally but he'sng cautious while david rosenberg thinks there is more upside xtey're going to debate what's ne for stocks when "closing bell" comes right back ike? a basketball costs $14. what's team spirit worth? (cheers) what's it worth to talk to your mom? what's the value of a walk in the woods? the value of capital is to create, not just wealth, but things that matter. morgan stanley [ mouse clicks, keyboard clacking ] [ mouse clicking ] [ keyboard clacking ] [ mouse clicking ] [ keyboard clacking ] ♪ good questions lead to good answers. our advisors can help you find both. talk to one today and see why we're bullish on the future. yours. >>> welcome back here's how we finished up on wall street. red across the board after a big session yesterday. dow dropped. nasdaq down 30 the rulssell 2000 the worst performer. >>> earnings after hours, we've had a bunch of them. fedex is up a little less than 2% still after its strong top and bottom line beat stitch fix down about 10% right now. micron up 3%

tells5,000,jeremy siegel us why he is nervous come 2018. the major media merger possibly in the offering, walt disney set to renew talks over requiring a major stake in 21st century fox. frome waiting on remarks president trump in salt lake city after a weekend twitter storm over the russian investigation. markets closing in two hours and julie hyman has another look at tech. julie: toy 5000 not far away at all. the higher we go, the easier it gets, each incremental move to another 1000. the dow is up performing today as we can see the renewed theme of rotation, rotation out of technology and into financials and industrials, for example, evidence in the dow. s&p 500 in the middle, up .5%, so benefiting by the surge we have seen in stocks related to the tax cuts passed over the weekend. another way to look at the weakness we have seen with technology in this chart, looking at the percentage of members of different industries with 14 day relative strength index above 70. in other words, are we seeing them overbought at these levels? look at t

tells5,000,jeremy siegel us why he is nervous come 2018.ia merger possibly in the offering, walt disney set to renew talks over requiring a major stake in 21st century fox. frome waiting on remarks president trump in salt lake city after a weekend twitter storm over the russian investigation. markets closing in two hours and julie hyman has another look at tech. julie: toy 5000 not far away at all. the higher we go, the easier it gets, each incremental move to another 1000. the dow is uprm

. >> next year's going to be more difficult to make money, jeremy siegel, he's bullish, but tougher 2018. >> i understand that's logic. >> yeah, but miner 10 to 15%, that's pretty big. >> i think it's reasonable -- i think it's reasonable to expect that the s&p 500 is going to be up next year now, that's nothing too insightful i think 15% is too much. and i think one of the things that you and i and you brought it up talked to lee cooperman yesterday about with john templeton phases of a bull market and you mentioned the euphoria phase you know, as i watch analysts now come out and try to top each other -- and they are, somebody comes out 3,000 today, next week somebody will come out 3,050 doesn't matter if it's the s&p 500 or an individual stock you know, amazon, we're watching people just continually set higher targets that is the early stages of euphoria now, i think that early stages -- early stages. >> steve, i think it continues into 2018. but, look, at this point how much more good news can you actually be surprised by i don't think anything, even an infrastructure spending bill w

jeremy siegel told bloomberg the corporate tax cut is a big deal. >> i think what we have now is a positiven to the tax cut. it is a big deal. the corporate tax cut is a very good thing, positive. i think the news is out. no one wanted to sell before the tax cut got through. betty: with us to discuss this is university of california berkeley professor, who has a book titled "how global currencies work." thank you for joining us this morning. do you agree the corporate tax cuts are a big deal? deal, but ia big think they are a bad deal. time, the worst possible time, to be cutting taxes and stimulating an economy that is already at full employment and growing at capacity. i think volatility will remain the same. the markets will get a sugar high in the short run and then realize we're blowing up the trade deficit. they will get back what they got. betty: how soon could that reckoning come? barry: we saw within the day the markets are of two minds. investors cannot figure out whether the positive implications for profits or negative implications for economy, that we won't be able to cut taxes

. >>> jeremy siegel predicted dow 24k, and he has a bolder call for the market catch our interview onre "squawk on the street" coming up. ♪ ♪ >>> let's get to the cme, check in with rick santelli and get the santelli exchange. rick >> good morning, carl. you know, correlations correlations are the big deal, and i think it's going to be an even bigger deal in 2018 why? i think we've learned a lot of lessons. first of all, if you look at a two-day chart, just to pick a random dpafrm, there were new stories on friday that were not true you see the markets recovered and moved. do you see any difference in the two-day boon of course, not, but it's bigger than the ross route story friday it's the notion that we see boon yields drifting and having a hard time getting above 40 and drifting back towards 30 the ten-year note yield, on the other hand, keeps making a beeline towards higher yields. we're now around 205 and, granted, it isn't a huge move, but it may be the beginning of something to pay attention to. you want to see another example? let's look at stocks let's look at a stock chart o

at post 9, thank you very much, and welcome earlier today on the "halftime report," professor jeremy siegeld trump rally as the market took the so-called nose dive. here's what the professor had to say. >> rallied because of president donald j. trump, rallied because of now we had a republican president that was going to sign tax reform, that was going to loosen regulations michael pence will do that any republican would do that you know, removing donald trump from office is not at all, in my opinion, a negative for the stock market >> and we're already discussing that, by the way, president pence. so that's how the sentiment was when we were down 350, mike, we closed down 40 points. where do we stand now? >> i mean,s it's a pretty remarkable comeback to gain a percent and a half from a midday selloff as we did today on the s&p 500. look, i think the market, this is perfectly in character can how this market has traded all year a big jarring headline very momentary kind of mini panic. it's -- altil the machines are w trained to actually treat this as a buying opportunity we you get one of t