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Jul 31, 2009
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let's stop in with our market gurus, jerry bowyer and steve grasso, plus peter shipp author of the little book of bull moves and bear markets and peter from the university of maryland, professor. peter, i want to start with you. it says you're bullish, is that because we have gotten where it indicates the recession has ended. >> the recession hasn't ended. if anything, it's just under way sfwhi was talking to the other peter. >> it's coming to an end. the fourth quarter is a good quarter and we have a lot more room to grow in this market. >> the other peter. >> it's a not a new bull market, the same bear market going on since 2000. what's happening in the u.s. is a sideshow. the main event is overseas, the markets are on fire there, particularly in asia.. the u.s. market looks like it's standing still. >> why are you skeptical of this? >> i know the underlying fundamentals of our market have worse and, not improved. we have more debt now. >> the gdp has improved more than two previous quarters and continuing claims, none of that is good enough for knew at what cost. look how much debt we
let's stop in with our market gurus, jerry bowyer and steve grasso, plus peter shipp author of the little book of bull moves and bear markets and peter from the university of maryland, professor. peter, i want to start with you. it says you're bullish, is that because we have gotten where it indicates the recession has ended. >> the recession hasn't ended. if anything, it's just under way sfwhi was talking to the other peter. >> it's coming to an end. the fourth quarter is a good...
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Jul 23, 2009
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thanks steve grasso. now to rebecca jarvis with the full reports from earnings central. heck of a day. >> heck of a day, larry. we got to breeze through the day today to look ahead to tomorrow. we want to get to the after-the-bell earnings reports. these are the ones, if they come up, we will let you see them. but the stories of today, dow's top performers 3m blew past evenings peckations. earnings report was great. margins improving, health care, consumer, office, business. you see the stock was up $4.53 on the day, at&t meantime, also a big performer beating expectations, strong wireless growth there. continued cost-cutting. ford posted $2.3 billion profit. you see the stock was up on the day about 50 cents. mostly that profit was due to debt reduction. mcdonald's, that was the story that came out weaker than anticipation. less upbeat, stronger dollar. year ago stimulus check induced gains. that wait on profits, this time around sales not as strong as the market hoped. let's get to the stuff that happened after the closing bell. nation's biggest military contractors ca
thanks steve grasso. now to rebecca jarvis with the full reports from earnings central. heck of a day. >> heck of a day, larry. we got to breeze through the day today to look ahead to tomorrow. we want to get to the after-the-bell earnings reports. these are the ones, if they come up, we will let you see them. but the stories of today, dow's top performers 3m blew past evenings peckations. earnings report was great. margins improving, health care, consumer, office, business. you see the...
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Jul 25, 2009
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steve grasso, you're on the floor, the line is up on the board all the time. is this an argument that you actually put money behind? >> it has been an argument. >> uh-huh. >> i have never seen a market like we've seen this week. it is unbelievable. for the last two books, you watched these hedge funds lay them out, lay them out, lay them out. even from the beginning of the week, they tried to break the market. they couldn't. i was 5-1 sells to buys. i reversed that yesterday and today. >> so, what does that mean? >> it just means that it's different from any market that we've ever seen. it means at this point i don't think you'll see the pullback. the shorts that we've been talking about, the hedge funds, half said they believe the market is going to cave 70 points ago. >> and look at microsoft between the number last night, before we went to numbers at 3:00 yesterday and where it traded down to premarket, it was an 11% move. i jumped in premarket because the numbers weren't that ugly. they were second quarter numbers. we know all the good stuff happening with
steve grasso, you're on the floor, the line is up on the board all the time. is this an argument that you actually put money behind? >> it has been an argument. >> uh-huh. >> i have never seen a market like we've seen this week. it is unbelievable. for the last two books, you watched these hedge funds lay them out, lay them out, lay them out. even from the beginning of the week, they tried to break the market. they couldn't. i was 5-1 sells to buys. i reversed that yesterday...
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Jul 31, 2009
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steve grasso, is there a play here for investors out there, or is it already -- we're seeing a 7% rise> i think it's already in. ford is up 17% since last friday. 500% since the november lows. i think it's already -- and we heard the ceo make bullish comments. i would be a seller of ford. can it go higher? yes. >> we also can't ignore autonati autonation, second quarter drop in profits, 29%, but the results did beat expectations. interesting commentary from brian setland, expecting a boost from cash for clunkers, but seeing consumers trade in their domestic vehicles and buying imported vehicles at this point. are we going a little bit too full in on ford here, given that commentary we were seeing from the owner of thousands of dealerships across the country? >> i don't necessarily think that way. i'm still a little bit of a believer in ford. it's going to be a tough rebound for some of theseford. it will abe tough rebound, people have to recycle the cars that they own and it will be money back in the system and that will be a correct correlation and can they rebound going forward? i th
steve grasso, is there a play here for investors out there, or is it already -- we're seeing a 7% rise> i think it's already in. ford is up 17% since last friday. 500% since the november lows. i think it's already -- and we heard the ceo make bullish comments. i would be a seller of ford. can it go higher? yes. >> we also can't ignore autonati autonation, second quarter drop in profits, 29%, but the results did beat expectations. interesting commentary from brian setland, expecting a...
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Jul 23, 2009
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cnbc market analyst steve grasso at the nyc. 11% in just nine trading sessions. >> started off being. you had goldman kick it off. you and i spoke on the floor, this is the first time you had earnings explode from the very start. if we're at 870 in the s&p, when all this is taking place, goldman comes out and knocks the cover off the ball and tech followed up, a picture perfect rally.
cnbc market analyst steve grasso at the nyc. 11% in just nine trading sessions. >> started off being. you had goldman kick it off. you and i spoke on the floor, this is the first time you had earnings explode from the very start. if we're at 870 in the s&p, when all this is taking place, goldman comes out and knocks the cover off the ball and tech followed up, a picture perfect rally.
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Jul 28, 2009
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we've got dianne, art hogan, managing director, cnbc analyst steve grasso of stewart frankel and a former economic adviser. what a great lineup. you heard what mr. ross said. what did you learn from today's, what i'm calling a noncorrection correction. a sign of strength for the summer rally? >> i'm not opposed to pullbacks. what did you learn today? >> i think you made a great point. it that case shillor is a game changer. what is the most important thing? it has been housing and jobs. if we get one good data point, what have we got? >> dianne, what do you make of it? >> i'm not quite as optimistic. i do the we're in a recovery. i think it is rocky and housing will be a big part of it showing the first critical to groat this year in four years. in the second half of this year. the bad news is we've dug ourselves in such a big hole, it is a long way out. >> the manufacturing index, i'm really playing that up tonight. first i like the south. second of all, i like richmond. and third and most importantly, it shows that region is out of recession. >> well, i'm not sure. it is yes. out of rec
we've got dianne, art hogan, managing director, cnbc analyst steve grasso of stewart frankel and a former economic adviser. what a great lineup. you heard what mr. ross said. what did you learn from today's, what i'm calling a noncorrection correction. a sign of strength for the summer rally? >> i'm not opposed to pullbacks. what did you learn today? >> i think you made a great point. it that case shillor is a game changer. what is the most important thing? it has been housing and...
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Jul 23, 2009
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let's head back down to the floor of the new york stock exchange and talk about that with steve grassowhat do you think? we've heard from some people it's an issue. other people say, no, it's not. >> i think it's a small issue. i think that was probably a little bit leading into this whole market rally. if you look at levels we've been approaching and breaking through, 976 in the s&p, yesterday was 956, was the real level people were focusing in on. now that we're above that, we've heard nothing but time after time positive statements from ceo of ford, ceo of potash. we heard the bank of canada saying the recession is coming to and. i think it's nothing but good news out there in the past week, let's say. >> okay. >> if i'm not mistaken, michelle caruso-cabrera, i think she said a positive story on newspapers. if that's where we are right now, then maybe things are a little better than we thought. >> a positive story on newspapers. that is excellent, leading right up to amazon. i would think that newspapers are probably a dig breed, as we all know, right? and the amazon kendle, i hear
let's head back down to the floor of the new york stock exchange and talk about that with steve grassowhat do you think? we've heard from some people it's an issue. other people say, no, it's not. >> i think it's a small issue. i think that was probably a little bit leading into this whole market rally. if you look at levels we've been approaching and breaking through, 976 in the s&p, yesterday was 956, was the real level people were focusing in on. now that we're above that, we've...
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Jul 21, 2009
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our steve grasso had a unique window into where cash is headed before it moves into the market. steve, looks like you're saying that money is playing catch up. >> the money is playing catch up. if you look at what's been going on, one of the things we can't figure out in this marketplace, you can't figure out the financials. no one can figure out the materials. so what have people been doing? they look at the market and get surprised with the 7% move. they say there is exposure to this. they dump it into an etf. they do the homework on a micro level when the market settles in. that's what i've seen. i've seen the biggest -- look at the returns since last monday in the financials. >> right. that seems like the smart money may not than smart. >> it's smart. there it's smart. look at it this way, it's making sure that it's partaking in it. so if you have money with a mutual fund, you want to see them partake in it. unfortunately, you don't want that quick maneuver from a hedge fund all the time, right? the volatility kills a lot of people. so you don't want to be buying and selling
our steve grasso had a unique window into where cash is headed before it moves into the market. steve, looks like you're saying that money is playing catch up. >> the money is playing catch up. if you look at what's been going on, one of the things we can't figure out in this marketplace, you can't figure out the financials. no one can figure out the materials. so what have people been doing? they look at the market and get surprised with the 7% move. they say there is exposure to this....
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Jul 24, 2009
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steve grasso, look, i appreciate the great art cashen's cautious view. but steve, there is a study from jpmorgan that shows sequentially on quarter by quarter from q1 to q2, 70% of these reporting companies are actually improving their revenue sales. that's something we have not focused on. year to year, the sales are down. yeah, that's a function of the economic slump. but sequentially, there is a lot of improvement in revenues that is not being accurately reported. i don't know if you've seen or heard about this study, but i want to put it on the table. because these numbers may be better than we think. >> i think you're 100% right. and how many times did people say we're closer to the end than we are to the beginning. i'll touchback on what bob said. i've seen real money being put to work this week. yau say that a cup he weeks ago. so it was short covering now it's real money. so if you want to talk about earnings on a level of company by company basis, we're two years into this thing since august of '07, we're two years into this. eventually, things h
steve grasso, look, i appreciate the great art cashen's cautious view. but steve, there is a study from jpmorgan that shows sequentially on quarter by quarter from q1 to q2, 70% of these reporting companies are actually improving their revenue sales. that's something we have not focused on. year to year, the sales are down. yeah, that's a function of the economic slump. but sequentially, there is a lot of improvement in revenues that is not being accurately reported. i don't know if you've seen...
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Jul 16, 2009
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steve grasso e-mailing me. 946 is the highest close for the year for the s&p.and the s&p right now is sitting at 942. that's an interesting number to watch as we approach the close. >> we've got the trader's view of the market. we'll go downstairs on the floor of the exchange, tell you what's on the traders' radar, how they're setting up. look for after the bell numbers from google and ibm.se ts, i'm glad i turned to fidelity for an annuity with guaranteed income for life. that's right, guaranteed income for life. my annuity from fidelity means my retirement income is safe. it's guaranteed, no matter what happens. if guaranteed income for life sounds good to you, do what i did -- let fidelity be your guide. call fidelity at... for details about guaranteed income for life. >>> welcome back. we went right to the source. the guys watching the flow with the market up better than 100 points. arthur cash-in director of floor operations at ubs financial services.. peter costa president of empire executions and a cnbc market analyst. gentlemen, good to see you. what's
steve grasso e-mailing me. 946 is the highest close for the year for the s&p.and the s&p right now is sitting at 942. that's an interesting number to watch as we approach the close. >> we've got the trader's view of the market. we'll go downstairs on the floor of the exchange, tell you what's on the traders' radar, how they're setting up. look for after the bell numbers from google and ibm.se ts, i'm glad i turned to fidelity for an annuity with guaranteed income for life. that's...
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Jul 22, 2009
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you know steve grasso, director of institutional sales at stuart frankel. you know the basic bull story at this point. a little bit more safe -- let's call it moderation or top line visibility, which is sort of helping maybe bottom line visibility, which is making people a little more confident. are you buying into this game? >> i think the wordiness of your question -- >> yeah. >> -- is the point that everyone's watching here, is that if you have the earnings right now -- no one knows what to look at. all they like is the fact that earnings have been better than expected. people thought they were going to get hit with bad earnings right off the bat. they haven't. goldman sachs turned this market on its heels. and that's what people are waiting for. i've said it before. when we're at 870 everyone thought 850 was coming up and they didn't get it. >> let's talk about goldman because the financials were having a great day. wells fargo wasn't particularly great. keycorp wasn't particularly great. credit concerns over there. then 12:00 eastern time goldman sachs
you know steve grasso, director of institutional sales at stuart frankel. you know the basic bull story at this point. a little bit more safe -- let's call it moderation or top line visibility, which is sort of helping maybe bottom line visibility, which is making people a little more confident. are you buying into this game? >> i think the wordiness of your question -- >> yeah. >> -- is the point that everyone's watching here, is that if you have the earnings right now -- no...
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Jul 17, 2009
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dowd and steve grasso of stuart frankel, both cnbc market t analysts.od to see you. >> good to be here. >> what's the most compelling thing happening today? >> i will tell you, for the last two weeks my clients have been covering shorts and getting long.. i think your other guests have definitely said the same thing. so i think no one's really shocked. but we're seeing, you know, a lot of the rotation that we're seeing in the financials, we're starting to see spread to other sectors. >> you never know because it could have started as a real short squeeze, but it feeds on itself, doesn't it? >> absolutely. it certainly does. i think the shorts all got scared on a nice rally we had since the middle of march on. we haven't seen too much shorts coming in or even attempting to come in to dampen this little run we've had. and like you said, we started the short covering. i think it's rotating to going along a little bit. >> where do you see conviction on the buy side? are there areas you feel you're seeing consistent buyers day in and day out? >> tech has con
dowd and steve grasso of stuart frankel, both cnbc market t analysts.od to see you. >> good to be here. >> what's the most compelling thing happening today? >> i will tell you, for the last two weeks my clients have been covering shorts and getting long.. i think your other guests have definitely said the same thing. so i think no one's really shocked. but we're seeing, you know, a lot of the rotation that we're seeing in the financials, we're starting to see spread to other...
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Jul 22, 2009
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let's go to steve grasso.ood to see you, we want to focus this discussion on whether or not you should be focusing in on best of breed here. what do you think? is that the way to go as we move forward in the markets? >> always is. you can't go wrong with best of breed. goldman sachs has been best of breed, been bled out. goldman sachs, j.p. morgan. check with best of breed until the market has proved itself. >> a lot of people may feel these names are toppy, how do you approach it as an investor? >> if you take a longer look back to 2000, you'll see something very different. what we're focused on is not only best of breed but tech is clearly that. throw health care in that as well. reduce free cash flow that can support dividends and capital spending and all of those things can be found in sectors like technology. we own apple and ibm, those are companies we like. >> best of the breed idea, your idea suggests there's some inefficiency in the market. if i own the lesser company, that is a stock price is overval
let's go to steve grasso.ood to see you, we want to focus this discussion on whether or not you should be focusing in on best of breed here. what do you think? is that the way to go as we move forward in the markets? >> always is. you can't go wrong with best of breed. goldman sachs has been best of breed, been bled out. goldman sachs, j.p. morgan. check with best of breed until the market has proved itself. >> a lot of people may feel these names are toppy, how do you approach it...
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Jul 24, 2009
07/09
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our crew today, pete najarian and jim uri of tjm institutional services and the governor steve grasso. guys, you know, there was no surprise given all the earnings lows we had on the desk last night that the markets are pulling back just a touch. been i want to ask you this. amex came across and capital one came across and really seemed like the financials were in for some sort of a selloff. we saw axp tread into positive tearity and capital one is up sharply. what do you make of this move? >> sure seems like people were looking for an opportunity, looking for a selloff opportunity to jump into a stock like axp who made such a significant move up to $30 a share and gave them a chance today. the pullback, that's what we've seen across the board really and the stocks that people really want a piece of, that they missed on the way up, when they are showing any kind of signs in pullbacks we're seeing folks come in and start to buy and clearly american express is a great example of this. the delinquency rate far less bad than people first expected. the writeoffs weren't as bad. when you lo
our crew today, pete najarian and jim uri of tjm institutional services and the governor steve grasso. guys, you know, there was no surprise given all the earnings lows we had on the desk last night that the markets are pulling back just a touch. been i want to ask you this. amex came across and capital one came across and really seemed like the financials were in for some sort of a selloff. we saw axp tread into positive tearity and capital one is up sharply. what do you make of this move?...
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Jul 28, 2009
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fast money" crew today, the pi boss pete najarian, dennis gartman, and steve not related to dick unless he leaves him alo alone, grasso. >> hope he is getting the memo, michelle. >> we'll send him a note. pete najarian, what is problem today. >> well, you know, really not a major problem. i think what you're seeing is profit taking and the profit taking makes a lot of sense. >> wait, wait, wait, why does it make sense when case-shiller says the housing prices are up. we have the triif he can at that of data. >> well, it's following the predata that's already pushed us this far. we heard from the big financials last week and got great information from the technology space. then we started to get a big push from commodities led by caterpillar last week. i tell you what. we've had this big whoosh to the up side. you've got to expect some kind of a pull back to the down side and i think that's why you're seeing the volatility index up today, michelle. but don't be too concerned about the volatility index. what they are doing is buying puts that will protect themselves. and take a look at a couple of the big financials. ci
fast money" crew today, the pi boss pete najarian, dennis gartman, and steve not related to dick unless he leaves him alo alone, grasso. >> hope he is getting the memo, michelle. >> we'll send him a note. pete najarian, what is problem today. >> well, you know, really not a major problem. i think what you're seeing is profit taking and the profit taking makes a lot of sense. >> wait, wait, wait, why does it make sense when case-shiller says the housing prices are...