is anybody concerned about the fact, josh brown, i come to you on that, that apple is down from the 52-week high alphabet's on track to snap an eight-month winning strong, the strongest since '09, the s in, h is poised for the worst semiconductor etf since march 2020 are we in the midst of the big no-no happening and people like mike wilson who is coming on in a second will be right we're going to get that correction >> well, listen, i hope we do. i have stock to buy. if we're saying that if the strategists at all-time highs two weeks ago were saying that there was 5% to 7% left of the market this year wouldn't tobaccit be great to buy the market 10% lower and say they're right and instead of 5 to 7 it would be 15 to 17? we talked about the idea that the market had been vulnerable for a while and you just had the ongoing deterioration in breadth in advance versus decline an the stocks above the 2 hun-day et cetera, et cetera and there were strong stocks still accounting for most of the gains this summer and now they're hitting those stocks historically, that hasn't been the start of th

josh brown back to you for a second jp morgan out with a note. you said nobody cares about equities but jp morgan out with a note that investors are piling into small dap stocks last week the trades of small caps up more than 16%. how are you taking that? >> i should clarify it's not that nobody cares about stocks it's that the market has been doing nothing all summer what i'm saying is that people's attention is focused on where the fireworks are. and for the most part what they're looking to do is fund private companies. small caps are not -- small caps today are not the same as small caps of the past they're mostly not growth companies. small cap value up 22 % this year small cap growth only up 5%. i do think that that segment of the markets has been benefitted from a little bit of that rotation into value, into cyclicals. we know there are a lot of industrials and financials in the russell 2000 and most of those would be value stocks and then there is some peculiar stuff happening there where like amc is in the small cap value bucket, believe

josh brown, jon najarian, nice to see everybody today we begin with a look at stocks, trying to break that three-day losing streak. dow still holding on to a modest gain of about 35 points. s&p a fractional winner. russell 2000 hanging on. many are cutting their forecast, united, southwest, american, jetblue, okay, these opening plays are in trouble but you look at the screen now and those stocksare up, nicely so i wonder if that's the biggest tell of the day, what the message of the market is to you as to how to view these stocks okay, so they cut their forecasts, we'll get past delta, maybe that's the worst of it, and now we can buy these stocks. >> yes and no, scott as far as business travelers versus recreational travelers or regular joes and janes, business travelers are the lifeblood of all of those big three airlines and a host of others but a lot of those business travelers have curtailed their travel dramatically. and so as far as the reopening plays, scott, if we're talking about things like theme parks, again, recreational travel, or experiential like vegas, all of those th

stock, so again a lot of josh brown love today.one i talked about for final trade last week. it's up 39 x on the calls from just last week went from 15 cents to $2.60 in mttr. >> all right good stuff, doc. thank you up next we reveal jenny's latest move in her portfolio. we'll be back in two minutes bundling for example. you've got car insurance here. and home insurance here. why not... schuuuuzp.. put them together. save even more. some things are just better together, aren't they? like tea and crumpets. but you wouldn't bundle just anything. like, say... a porcupine in a balloon factory. no. that'd be a mess. i mean for starters, porcupines are famously no good in a team setting. geico. save even more when bundle home and car insurance. geico. save even more ♪ ♪ ♪ hey google. ♪ ♪ ♪ ♪ ♪ ♪ ♪♪ energy is everywhere... even in a little seedling. which, when turned into fuel, can help power a plane. at chevron's el segundo refinery, we're looking to turn plant-based oil into renewable gasoline, jet and diesel fuels. our planet offers c

the pre-covid piece in terms of multiple for growth stocks that's a healthy thing >> all right josh brown that's brad gerstner you agree with his assessment that if you think the selling in tech is over and in the nasdaq you'll be sorely mistaken. >> yeah. i don't -- i don't think that anybody could, like, definitively plant the flag in the sand and say right here is where it's over. in fact, the s&p 500 is still only 4% off its all-time record highs and the rsp which we talk about is the equal weight s&p and we talk about it because it gives you a sense of what the typical stock is doing and not just the ten larger stocks that drive the s&p. that's only 3.5% off the highs and it's actually hanging in there better so how do you look at that and say yeah, that's it. we're done with the selling. the nasdaq's a little bit worse and more interesting to me so the nasdaq is 5.5% off its highs which shows you how they are in the stocks and i thin the statistic is 50% of nasdaq names are in a 20% or worse draw down that's a pretty big deal that's why when people are walking around saying bubble,

ritholtz wealth management's josh brown major averages kind of mixed and losing steam the nasdaq is onthe buying is on this first day of september, it's pretty defensive. real estate, utilities, mega cap technology, but then the small caps which is an odd pairing. it's not like we're seeing bond yields moving lower. it's hard to make too much of why, especially three days before labor day weekend, but any sense of what's driving it >> small caps seem like obviously a little bit of a catch-up trade new month flows and what it does to various parts of the market pretty tough to necessarily infer where they're headed from here, but i do think it's on the quiet side the market is holding the highs but not really like there was a new reason to change much once we got into a new month. mentioned earlier, six new highs in the last eight trading days up all of 2% we're missing economic data on balance lately but the market held together because yields are steady and we have that big defensive slug also the emerging growth stuff is working, too, if you look at spicier stuff. it's starting to ac

. >> josh brown, had you started your career yet?s, i was working at a broker/dealer in the helmsley building on 45th street. my wife was working at newmark commercial real estate on 4 #42nd street in between us was the met life building and grand central our assumption was after the second plane any one of these landmarks could be a target and we wanted to be as far from grand central as possible. the problem was in those days like cell phones were primitive. the system was in its infancy. it took a while to finally get her on the phone and i said let's walk east. we'll meet on 2nd avenue and walk uptown to our apartment we lived on the upper eastside and my most searing memory from that time living and working in manhattan we had southern exposure on the 33rd floor of our building facing south. every day that black and gray cloud that steve described as white, to us it was black a couple days later, would inch a little bit closer uptown it seemed to be like almost heading toward us. and while we're looking out the window at that ev

and we also have a weather management ceo josh brown. der market dow and s&p bouncing back after selling off yesterday. but the nasdaq just slipped into negative territory, mike, after we saw yields go the other way and start to rise again. so really only a partial recovery what stands out? >> yeah. the playbook is still in place i would say today is a little bit inconclusive it's a push. we're down 2% in the s&p yesterday. regained a third of a percent of it doesn't really tell you much either way there was some pretty intense action yesterday if you looked at the volumes in the big etfs, it was kind of thorough i still think, broadly speaking, it feels like a month-long shakeout in the context of a pivoting in the market back towards some cyclical themes but it's tough to pick it out of the noise of the headlines and of the just kind of the seasonal static that we've been dealing with for a few weeks >> josh, i'm reminded that last week you mentioned that you'd used the ten days ago monday selloff as a buying opportunity. did you use ye

josh brown was not paying attention.e his car under the back end of a semitrailer and shaved off the top of his car and the top of his head. but there have been four of these that we know of, one in china, josh brown i mentioned, walter wong in california. jeremy banner. also elaine hertzberg. she was called by an uber. it was a self-driving test car, and the safety driver was paying no attention. these things don't work yet, and they're certainly not safe. so that's what i have to show you. this is the end of my road trip. that's my saab, my beloved saab. i really thank you. you have been very patient. i think i went on very long. i could go on forever. i love this stuff. but you know, more than loving talking is listening. i would love to hear what you have to comment on, say, questions you have. you want to know how to change your oil, change a tire, i will help you. car buying advice, anything. stock picks? no. thank you. [applause] thank you. every time i do a talk, i have a hard time getting questions. yes, sir? >>

her team just met with a whistleblower on that story. >>> first up, josh brown still with us.me. mike, we'll first turn to you on what drove us lower for the week and what stood out amid the damage is this a cyclical correction with materials leading the charge lower >> i would say that's the backdrop, really, the last two weeks has been real consciousness of this late summer slowdown. we're revising down gdp. it seems like earnings estimate forecasts maybe have peaked and are rolling a little bit that's the backdrop. but cyclical stocks have been weak since july. it's not the start of that process. today, it's a noisier market to try to interpret right now just because of the expiration effects and the technical effects. the s&p 500 closed just a few points below its 50-day average. the megacap stocks really led the way down, they're already big in the index we've seen this rebalance. the average stock did better and financial and consumer stocks did better than the index. we're at a moment, is this another one of those that we just space higher from or is it because of septe

the first death that completed the report was the death of a man named josh brown driving the tesla, and using it on autopilot, and we can talk about the operational domain and all of that, but, the ntsb studied it, and they found that calling this thing auto pilot was a problem. adding to the problem is the moniker autopilot and joe and susie public may not be paying attention to the driving task, because the auto pilot is doing everything, and so he paid no attention and drove the car right underneath the back end of the semi trailer and shaved off of the back of the car and his head. but four of them. one in china, and josh brown, and walter wong and also elaine wurzberg who was killed by an uber a self-driving test car, and the safety driver was not paying attention, and these things do not work yet. they are certainly not safe. so that is what i have to show you. this is the end of my road trip. that is my beloved saab. and i really thank you, because i could go on forever. and you have been patient. but more than talking is listening, so i would love to know what you have to co

and today we've got cnbc contributor josh brown from ritholtz wealth management here as well. ges lower nasdaq on track to snap its four-day win streak and the dow and s&p lower for the third straight day though well off the session lows still a 1% decline for the russell and 0.5% decline for the nasdaq slight decline anything under the surface that gives you more cause for concern? >> i think people came into the week prepared to be a little bit clenched up ahead of potential volatility and weakness. the tone feels as if everyone is looking for a breakdown of some sort in the overall market or at least a temporary turbulence it doesn't really seem to be following that yes, moststocks are down all the cyclical stuff giving back some gains except for industrials. yes, verydefensive and finally the nasdaq 100 stocks like apple are giving up some of the recent outperformance they have but in general, i don't really know what we're arguing about. the rotations are still operational. it's keeping the overall market well supported less than 1% from an all-time high and even though i

are the opportunities for your money we debate that with the investment committee today brenda, josh brownl and mark najarian co-founder of market rebellion.com. >>> the s&p off the best day since august the dow trying to avoid a two-week losing streak yields on the rise the 10-year at 1.33% a lot to talk about today, guys. includin

television to play netflix on. [ laughter ] >> all right, best buy down about 3% today all right, trb, josh brown, what do you got >> simon property under 130. i think it's a buy here, 4.5% distribution yield, own it in a nontaxable account for a maximum upside >> good stuff, everybody "the exchange" is now. >>> and thank you very much, scott. hi, everybody, i'm kelly evans and ahead on "the exchange," it's crunch time down in washington hours before the deadline there's movement to reach a deal to avoid a government shutdown, but it ain't over yet. we'll have the latest on the countdown for raising the debt ceiling. the headlines have been coming in fast and furious all morning long >>> plus, the everything shortage there's a shortage of workers, of shipping capacity and even of paper. the ceo of shutterfly and how they're grappling with all of that as we enter the most crucial time of year remember, holiday cards, better order them now >>> and at any cost, china orders state suppliers to secure energy at any cost at winter approaches we'll look at those shortages, the surge in prices and the in

i know josh brown and jim cramer both will get mad at me. this was a trade back on june 7th i bought crowdstrike at 214.25. i specifically bought it because at the time long duration assets were correcting significantly. i took advantage of that >> okay. >> now i'm beginning to suspect that longer duration assets are going to roll over the other way and that's what crowdstrike is so i'm ringing the register. i still believe in cyber security fort net is my longer position >> i love the disclarm you know you'll catch some heat for selling a much loved stock like this. >> absolutely. absolutely but, within the portfolio, i amman-- i am smanage my portfolios that got me in the trade for the same reason to get out of a trade i suspect we're going to the other way and i get out of crowdstrike. >> i also wanted you to give some picks remember i said going into q4 what are your favorite sectors, what are your lease favorite sectors and what are you best stocks you gave american express and lulu >> financials, consumer discretionary. these are secto

calls i love the upside between now and january, scott second one, take a look at live nation, a josh brownone they're not buying short term, they're way out in april. they're buying the april 100s with the stock at about 92.50. so they're saying it plays out over a longer period of time i liked it i like it still. i will be in that one probably for the next several months. >> all right i think, josh, we'll probably do thsa j, thank you very much we will take a quick break and come back and do final trades next i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com ♪ ♪ it's a wishlist on wheels. a choice that requires no explanation. it's where safe and daring seamlessly intersect. it's understated, yet over-delivers. it is truly the mercedes-benz of sports sedans. lease the 2021 c 300 sedan for just $4

josh brown, jon najarian, nice to see everybody today we begin with a look at stocks, trying to breakhat three-day losing streak. dow still holding on to a modest gain of about 35 points. s&p a fractional winner. russel00

farmer jim >> kinder morgan will benefit from natural gas demand >> all right the reform broken, josh brown? >> staying long, uber. >> what a huge day for uber, up 12.5%. that does it for us. thanks for watching. "the exchange" is now. ♪ ♪ >>> thank you very much, scott hi, everybody. i'm kelly evans. ahead this hour, the day after the big sell-off stocks are trying to hold on to gains we briefly went negative early on bitcoin is trying to avoid more losses which asset class is better positioned to ride out the volatility gold on a two-day up streak, by the way. >>> plus, europe's energy crisis, could it happen here and what does it mean for energy stocks that's been the best sector over the past month, second best year to day >>> will china be able to control the damage from an eventual evergrande collapse if they can, should you guy those stocks right now >>> dom chu is here with the numbers. what a day >> what a day because we've seen either side of the flat line, right? positive, negative overall though i guess if you are bullish this market you have the take it as a victory because we

one thing about the halftime show is i notice they make you print out a lot, the stay at home, so josh browns stuck in the past like my paper >> look, i think the future is bright for all of these software platforms and tools. and we use tons of them in our business again, i said this about a lot of stocks. i think the hard part is going to be the comps. it's really really tough to match the amount of enthusiasm for these services and new client additions from 2020 and we're seeing that from all of the companies but the comps will not be that tough forever. and so if some of the stocks get hit hard, because people are short-sighted and you want to buy them, maybe that's the opportunities. i don't have a lot of the names right now. i've been in and out of a bunch like zoom and teladoc. but tell moment i'm not there. >> more under the real estate these days as well pete, any take on a docusign or name like that we called them stay at home stock because it was easy and convenient. >> right. >> but now the -- nobody wants to go to the office not because of covid but just because nobody wants to

we also have with us josh brown and "washington post" economics correspondent heather long.onomy, but this is definitely a bad start to the week. what do you make this have drop? >> a bad start to the week but just a week ago the s&p 500 was at all time highs, steph, up about 20% on the year and, you know, listen, i think you make a great differentiation between the market and the economy. here is the thing, the economy has been slowing, obviously we have that huge v reversal off of the pandemic lows in both the market and the economy, but it was helped by obviously a great deal of just -- you know, helped by the treasury, by congress and by trillions of dollars thrown at the pandemic. here we are, we're cooling off a little bit. i guess the real concern would be this, if the stock market were to continue to go lower, what is the effect on consumer confidence? august consumer confidence was a six-month low. we had already seen the economy slowing a little bit, the stock market probably has a little more to come in to kind of line up with expectations for growth going forward

josh harrison. he stayed with the pitching fights it off into right field. seth browncore it's 8 to 4 a's creating some separation. then in the 7th starling marte a liner into center. elvis andrus scores. the royals can't field it cleanly and that allowed another run to come in to score. it's 11 5 right now oakland is trying to hang on is 12 to 9 in the top of the 9th ending. we'll have those final highlights soon as that game goes final. the niners are settled in and bunkered down in west virginia prepping for their week. 2 opponent, the philadelphia eagles. they flew straight from detroit to west virginia because they wanted to avoid an unnecessary cross country trip sparked move because the niners will have their hands full with philly. this is eagles team that is coming off of a season opening thumping of the atlanta falcons and they will be playing in front of their full home crowd for the first time since 2019. >> starts and effectiveness. you still see fletcher students and staff granting the same stephanie, what is new is right up to their level. so i'm watchin

chair brown: thank you, ranking member toomey, for your comments. i'll introduce the witnesses. mr. josh stein is attorney general of north carolina, as attorney general he works to protect north carolina families from crime and consumer fraud. he previously served as a state senator, as a deputy attorney general in the north carolina department of justice. ms. lisa -- the director of state policy at the center for responsible lending. she works with global organizations and lawmakers to eliminate abusive lending and debt collection practices in her state. she also advocates on the national level on abusive debt collection and debt settlement practices as well as predatory auto and student lending. dr. frederick hanes is a senior pastor, activist and educator in dallas. -- with the friendship west baptist church in dallas. dr. hanes currently serves as chairman of the board of the samuel dewitt proctor conference, board member of the conference of national black churches and the national action member, and a member of the board of trustees for pall quinn college. mr. brian books is the f

brian: absolutely and josh allen having another great start , but so is everyone except the jets in that conference . meanwhile the bears and brownsis knee isn't ready to go yesterday, is this the start of the justin fields era, we'll find out and see how he does, that's also a road start so many folks have been very excited to see how this young man does, they watch him through college yet obviously a fantastic impressive college career and bear nation is really hopeful he will be the key to their future and getting back on a winning track. he'll have a pretty decent test up in cleveland, cleveland's run game especially, led by nick van pat patrick so far this season. brian: absolutely the good news is the browns don't have much of a pass rush, so he might have some time to see things develop. so jen, i know you're doing the washington buffalo game. best of luck there. i appreciate it, and always great to see you. >> thanks for having me appreciate it. brian: best of luck. meanwhile fox bet will enter i want you right now to enter for a chance to win on fox super bet $1 million of terry bradshaw 's money, even younger terry is st