, you've met charlie brady. >> love him. neil: he is, we call him the yoda finance, he knows it all and he was reminding me all those averages are up, nasdaq is up more than 4%. he wasn't making this but a lot of people were saying maybe this is the comeback year because typically we have a down year and come back the next year where are you on this? >> from the people i speak to, we don't have a comeback year until we get a pause from the federal reserve. right now, if you think about the fed hiking maybe 25, that's down from maybe 50 in february and march, you have to get a pause in that hike. maybe not a cut, but at least stop hiking or slowing the pace of those hikes in order for the market to really settle in. i don't want to get too wonky but we know that the equity markets will price based on the discount rate, which is just what the bond is. you really need that to stabilize to create a rally that is believable and consistent. neil: you were with bloomberg. >> yeah. neil: now, very serious, great organization. >> yea

losses, so they were a little more than a few minutes ago when i spoke to our local brainiac, charlie brady senior editor, all numbers editor. sort of like the zeus of data. the data at least from them, disappointing deemed to be a sign there are financial troubles down the road. really depends on your perspective because technology is doing comparatively very well. nasdaq was up when i looked. s&p barely moving on any of that. get a read from madison alworth following all the crosscurrents for us, has the latest. hey, madison. >> reporter: neil, let's start with the dow jones pulled down by goldman sachs. the bank reported earnings today. it reported the largest earnings miss in a decade. goldman said profits plunged 66% from a year earlier. operating expenses jumped 11% from a year earlier. this could mean more cost cutting, layoffs at goldman. this is the thing, not all bad news for banks this morning. morgan stanley saw profits decrease, the bank still beat expectations sending the stock higher. revenue fell 12.5 billion from 14.5 billion a year ago, thanks to a slowdown in deal-making

neil: charlie brady our genius of a stock editor, senior editor, s&p 500 is down more than 20% from thed closing high exactly year ago today. we're back to bear market stories here. we're back to bear market plus stories with some of these technology stocks. tesla from its highss down 70%. >> reporter: 70%. s overdone. >> reporter: three out of four years the stock market rallies after a down year. that ih the s&p 500. there is gaming out of which tech stock you should be buying this year. usually ones that lagged last year. outperform the year after. so i think there is almost consensus bet that meta, which has lost about 70% of its value last year. neil: that's right. >> reporter: could be outperformer this year especially with tiktok regulation instagram could benefit from that. neil: would technology have to be a group that leads us back or gives people a reason to dip their toes back into the water? >> reporter: i think it has to. value outperformed so much in the last 12 months. maybe you're capped out how many gains, how much gains in particular names like boeing and the like. ev

charlie brady our stocks editor was reminding me kind of echoed the new york fed regional report, showed manufacturing activity declined 33%. we'll soon get the philadelphia fed reading on all of that. that and factory out put no longer putting out as much, you have this sense that maybe recession should be the worry and all these tech companies that have are starting to lay off from microsoft to intel to amazon. in low percentage numbers i stress but thousands of individuals just the same. david nicholas follows this very, very closely of nicholas wealthment there. david, i'm curious what you think of the sudden shift in thinking away from the inflationary threat easing to the recession threat apparently in some peoples eyes growing? >> it is certainly real. neil, not all recessions are equal. we look at this data pretty closely. the reason why i'm not as concerned, employment is still at 50 year lows. you don't have the type of severe, deep recessions we saw in 2000, 2001. 08, 09 while employment at these levels. the economy is not growing to the degree any of us would like but the sil

draw your attention to the nasdaq itself, it has put in a pretty good year, talking to charlie brady, stocks editor, all things brilliant. not only major averages up year-to-date a clear reversal of the debacle last year, nasdaq itself up in excess of 4.3%. even with tesla dragging that a little bit. ray wang with us, constellation research, ceo, very good on all things technology. i never liked to make this leap, right, but i will try with you. does this have staying power? are you i impressed what you se? could go in new york minute if we get surprise on inflation front. higher interest rate front that goes beyond what we thought the fed would do. but what do you think? >> after last year the only place to go is up. even if interest rates hang up, still inflation what we're really looking at is really a much better year hopefully for the nasdaq because of where we are coming from year to year lows. there are some fundamentals that are good-looking out there. we've seen good stuff coming in what tesla is able to do. seen good stuff that happens from amazon. there has been an overall

our charlie brady, our stocks you would to have, genius overall senior editor, is saying that the punch that goldman sachs is getting over this is accounting for an 80-point hit in the dow. in other words, with us up about 110 points, we'd be up close to 200 points if not for goldman news. so keeping an eye on that and the significance of that. >>> in the meantime, the significance of the president's statement yesterday concerning all document fuss and that there's no "there" there, well, apparently there is. because part of the "there" was the there that he outlined for us in the very gunning, after this. >> we found a handful of documents that were filed in the wrong place. i think you're going to find there's nothing there. i have no regrets. say goodbye to daily insulin injections with omnipod 5... a tubeless system that automatically adjusts insulin to help protect against highs and lows. try it today. go to omnipod.com for risk information and instructions for use. consult your doctor before starting on omnipod. ♪ i got into debt in college and, no matter how much i paid, it follo

i was talking to charlie brady senior stocks editor what is going on here.oncern about a whole lot of things including hard landing, recession outright. inflation has been positive. basic economic news retail sales yesterday, factory data getting across the country in all the regions. now add to that slowdown in housing activity and the rest. you have got these guys worried we'll hit a brick wall here. that is not getting in the way of expectations of another rate hike. this time only a quarter of a percent when the fed gathers two-day meeting of this month, on the 1st. we'll likely see that. after that anyone's guess. more on that in a second this is a red-letter day following all the red ink on capitol hill. we run up against your debt limit, akin to running up against your limit on a visa credit line. the u.s. is a little bigger maybe than yours, at about $31.4 trillion. edward lawrence at the white house right now where they're talking about preparing for the unthinkable, at least, maybe the unwantable. where does that stand, edward? >> reporter: neil, c

. >> charlie, what did you make about brady's point that this is a new political weapon that's beingnleashed and forget the fact that trump did not release them and congress should not be the one making that call. >> well, certainly donald trump broke a lot of norms that's not a news flash exactly. i do think it is a dangerous precedent and we have seen in the past, mit romney, for example, released his tax returns, that did not stop senate majority leader, har harharry reed, at the time lying it on the floor and claiming romney did not paid any taxes which was a lie. he never apologized for it, destroyed romney's campaign. the big take away is two things. donald trump got poorer by serving in public office. people like joe biden and nancy pelosi made a fortune on government's salaries working in public office. that's a big difference. i think to me that's the most important takeaway. i don't really know why they are so upset about all this. >> richard, i am going to give you 15 seconds to put a button on it. >> this tax return shows that those folks have the ability to lobby congres

apology that was in reaction to the french political magazine. charlie had the who published a caricature of iran and the other for brady crosses. foreign minister has shrunk off the concern, saying the satire is protected by freedom of speech. meanwhile, to run some of the processes has demanded that the french embassy be closed until paris issues an apology and official apollo. this is not the 1st time we demand that officials closed this embassy. they can return when they learn to respect iranian laws. there is no need for them to be here while they insult islam, our profit, and our leader that is not acceptable for us. we demand the authorities and this and give them an ultimatum. the french government has insulted our leader and religious authority through that publication. it shows that they are angry with our leader. we come here to say that we are said ordinarily there. i am here because the shirley of dor magazine has insulted my country's leader and demand the closure of that magazine's office by the french government. i demand an official apology by the french president, healthcare workers ingles. i have driv

brady or aaron rodgers? we have to wait and see. that is why we have charlie and vern on th sewhat we do know now tthe 49e defensive conator demeco ryans is taking a head-coaching position for the houston texans. that is where he started his nfl career backin 2006. let's talk about another sports figure on a different playing field! steph curry making history once again. >>> last night he passed the great wilt chamberlain as the warriors' all-time leader in midfield goals. the warriors beat the oakland city thunder 128-120. listen to what steph had to say about his achievements. >> passing wilt chamberlain! what does that mean to you? >> means i'm getting old. >> the fact that steph was able to do that is special. >> congrats to steph and his family. >>> the grammy awards are this sunday. we are highlighting the bay area's nominees. oakland's award. sara donchey shows us he how that email inspired his grammy nomination. >> reporter: his name is xavier dphrepaulezz, better known as fantastic negrito. as a child, he lost a brother to gun violence in oakland, the