Skip to main content

tv   Squawk Alley  CNBC  May 19, 2016 11:00am-12:01pm EDT

11:00 am
are prepare foging for this hou involves terror concerns, fed speak, the retail earnings, and banks, and a lot going on. >> and oil is slipping by 3%, and a lot of moving markets here today, but we are starting with egypt today. >> yes. and looking at the retail earnings, walmart is having one of the best earn inings in a dee and looked like it would gap up, and the earn inings are ahead b time, and u.s. ahead, and the the u.s. comps up, and guiding u.s. comps up one, and e e -- e ecommerce up as well as this morning, our courtney reagan reported, it is not the kind of revenue they are happy with. >> and as the shares are surging the most since october of 2008, it is still on the lower bar for the company which they themselves lowered in october of
11:01 am
last year. interesting to contrast what is happening with walmart today with what is happening with amazon and the rest of big tech which is leading down the nasdaq 100. amazon, facebook, microsoft and the likes of those names are drag it down despite the big beats from cisco and sales cost. >> yes, crm was looking good. and now, the leading indicators are up 0.6, and we talked to bob mctier and he said when you look at the cci, and the ppi and the confidence starts and the industrial production and it is running warm, and in his words, it is time for the fed to pull the trigger, and this is maybe why you are seeing the weakness today. and henry blodget is joining now. taking a lookt alel l le -- tak look at walmart, and on track
11:02 am
for one of the best days. but there was a call out that said that the growth is too slow on e commerce, and also, jeff bezos is firing back to donald trump after he said that he was using the washington post to hide himself from taxes. >> my view is that it is not an appropriate way for to a presidential candidate to behave. i'm very, very comfortable with all of amazon's approaches and vendors and the way we pay taxes and the political positions that we take are very focused on the business and i think highly appropriate. >> we should note that bezos is an investor and business insider, and that said, henry, are we in for the whole summer of this tete-a-tete between the presidential candidates and the ceos? >> apparently so. and if trump is elected president, we may be in for a
11:03 am
lot more of that, and it is unprecedented if that is the case, and if the president is taking shots, specific companies, and amazon remarkably successful and admired, and you know, it is highly unusual. >> and mark cuban yesterday called these nerf balls and said that you can call a nerf ball at anybody and it won't hurt them, and the growing list of companies that trump has argued by name, but has it mattered? >> well, maybe they are nerf balls now, and if that is the way they view it, just entertain ment, and he is a guy that says anything, and if that is what it is, and he is a guy that says anything, and h does not have any intention of doing anything, and if the country gives him the power that we are going to give h him, okay. then they are nerf balls, but actually the country is going to be arming him with a nuclear arsenal and an incredible machinery to go after anybody that he does not like. so we better be pretty confident and mark cuban better be confident that he is just fooling around and saying that stuff. >> i will try to circle that
11:04 am
view with what you said about him in iowa in january, and that is that he was a reasonable candidate and credible candidate before he was taken seriously. >> look, he says many reasonable thing, and views, and one of the things that is so appealing about him is that he has views that democrats would espouse, big on the infrastructure spending, and eliminate the tax loopholes for the private equity funds and hedge funds, and wildly praisable, and he is charming and funny and charisma, and everybody likes that and practical, but he has also said some things that are outrageous, and scary, and hateful and infuriating. so the question is, that is the most important judgment with donald trump. does he mean what he says or just nerf balls. >> well, it is electrified the base, and that is what the base likes about him so much that he is willing to say things that other candidates won't say, but as he is moving towards the s
11:05 am
center, is the base so en gogag that they won't go anywhere or will he move to the center? >> well, he has not moved to the sen is teer ter, and he it came out of the surrogate that thing, it is a virtual wall, and it is suggested, and just suggestions and not policy, and maybe, so and maybe we should take hope that mark cuban nailed it, it is nerf balls, and that is all it is, and boy, we need to be k confident about that. >> and it is interesting that today, it is keithbriette looking at whether he is serious about rolling back dodd frank, and it is kbw's that we don't take it at face value or consider it a solid political threat yet. >> that is what trump would tell you in private. and having met with him, he is is much more pragmatic and reasonable, and he is still donald trump, but he is much more pragmatic, and you say, this is a guy who will get it
11:06 am
done, and cut the deals, and that is what everybody likes burk again, the president has a boat lode -- boatload of power and one of the things that is worrisome to the media is that he does not like people who criticize him, and tighten up the libel laws and sue them. and that is what he is going after bezos, and boy, a lot of people hope they are nerfballs is what i would say. >> and now, closer to the markets here, you are net bearish for the last year or two. >> for a long time. and long enough to be humiliated. >> and we have been warmer on that front in february, and now people are suggesting that maybe we are head ed that way again i the fed is going to be a mini tantrum of sorts. where is your head? sglon valuation basis, negative. the stocks are extraordinarily expensive on the cyclically adjusted measures and not this year's earnings, but the profit margins are elevated incredibly relative to the average of
11:07 am
history. an unareless you believe that things are profoundly different, stocks are very, very expep zi and likely to have a lousy return over to the next ten years. >> we will keep talking about the markets, because the stocks are moving to the session lows, but part of it is because of the comments of president bill dudley, and mary thompson back with the news. >> well, kayla, why this is important is that dudley is a voting member of the federal reserve, and the press briefing a kocouple of minutes ago he wa asked about the possibility of the rate hike in june or july, and this is what he had to say. >> looking back a few days ago, i think that there was a strong sense among the membership that you could see it in the commentary that market was not putting in a sufficient probability look of tightening in the june or july meeting, and aim quite pleased to see that probability as in fact moved up. >> dudley went on the say that it is data-dependent and to that
11:08 am
end, he said that the second quarter is tracking stronger than what we saw in the first quarter when growth was weak. also, he was asked about how a brexit vote might figure into the mix or the fed's decision, because keep in mind that the fed's meeting is a week before the vote, and he said a number of things would be considered, including the probability of the uk voting to leave the eu, and what impact that would have on the financial markets, and also how strong the u.s. economy was at that point. back to you. >> thank you, mary. henry, what do you tell people who were worried about a fed who thinks that the economy is getting strong enough to raise rates? >> this is the bind ta hat we m be in. if the inflation ticks up, then they have no choice. and if the fed is in a hiking cycle, it is not good news for stocks, but good news for the main street, and if we can get
11:09 am
the wage growth, that good for the economy in the long term. >> and remember when the fed hikes and then we got the terrible numbers out of china, and the volatility in in january and february, and they said that the fed made a mistake, and if the brexit vote is uncertain of the fed hikes in the june that people would look back and say the same thing? >> absolutely. and we only know from the data from there and many people will scream if they do that. >> and thank you for joining us, henry blodget from business insoo insider. >> when we come back, more on the missing airline r from pari to cairo. right now, the dow is down around 81. there's a place for vacationers who seek more
11:10 am
than just a little time off. the ones who choose to go big or stay home. ♪ come with me now... where every amazing, despicable, wizarding adventure reveals moments that are truly epic. this place is made for those who do more than just vacation. ♪ whoa go with me now
11:11 am
it's made for those who vacation like they mean it. universal orlando resort.
11:12 am
let's get the latest on the missing egypt flight. and we have hadley there at charles de gaulle airport. hadley? >> well, so many moving parts to the story, and apparently we will hear from the next several ho hours the egyptian authorities who are going to be addressing comments from the spokesman of the greek military who a few hours ago told greek tv that at least two objects had been found in the southern mediterranean about 210 piles from the coast of crete. they say that according to greek media at least one life jacket that appears to be from the airplane as well as a metallic object have been found. no comments yet on that from the egyptian authorities, and we are waiting to hear more from them, and you have to remember that throughout the the day, they have been refusing to say that
11:13 am
the plane was anything more than missing untul they have evidence of debris. so we are waiting to hear comments from them, and the french authorities saying that the plane did apparently did crash, and we have heard from the foreign ministry who said it is a multi national investigation as to what happen and our colleagues at nbc news confirming with two u.s. intelligence officials earlier today who said that will is no evidence as of yet that this is terror-related, so a lot of questions up in the air. we are standing outside of charles de gaulle which is the flight originated here at 11:00 p.m. last night en route to cairo and should have landed at 3:15 local time and went off of radar at2:30 a.m. local time, and the traffic to this airport has showed no signs of slowing down, and the regular traffic going through charles de gaulle, but the questions, and the passengers are asking more questions of the media than the media can give them answers, so hopefully hearing more from the egyptian authorities. guys? >> thank you, hadley gannon in
11:14 am
paris. and now, we go to jim hall from chattanooga, and it is so good to talk to you again this morning, jim. >> good morning. >> one thing that we are struck by is the speed with which the egyptians trying to push back on the terror speculation. it feels like they are not trying as hard this time. do you agree, and what does that mean? >> well, i hope that this government is a little bit more transparent than previous administrations in egypt. it is certainly not going to serve the purpose of the aviation, safety and security, and not to be forth coming with inf information as it becomes available. >> jim, the fact that this is and involved investigation, and officials from france, greece, and now the u.s. as well as egypt, and how complicated is that going to become, and what does it take for that many units
11:15 am
to work together. it requires a lot of coordination, but generally, it has been bad business and for decades we have had floatable black boxes in the military, and we haven't had those retrofitted and placed on the commercial aircraft, and particularly in the age of terrorism, and you know, all tof the focus on aviation and its impact on the e kconmy. >> jim, talk about what we think that we may know about this flight trajectory. i know that you worked on a lot of the crashes in the states where a plane was either on takeoff or making its approach, and what is different about a crash that happens when apparently you are at cruising altitude, and in this case, 37,000 feet? >>le well, of course, statistical statistically, this should be the safest part of the flight. and one if in which there is very little possibility of
11:16 am
things happening. so, you know, we are looking here right now at some sort of in-flight breakup that could have been as a result of a mechanical or the structural failure or terrorism. and until of course, we find the black box or find the aircraft, and the pieces of the aircraft, that will still be a open question. >> jim, what would you be looking for in the conversation that were had in the cockpit and any of the chatter of the u.s. officials are telling nbc news was nothing out of the ordinary before the plane went down, and what are you looking for? >> well sh, the chatter will te you a lot of things. the sounds on the cockpit voice recorder and the information on the flight data recorder will give you a very clear idea and a
11:17 am
very clear picture of what occur occurr occurred. unfortunately, because those are now 3,000 feet in the mediterranean sea, it makes it some time to recover that, and that is why again, i am for the floating black boxes as used in the military. >> and finally, jim, when you think about the travel in that part of the world, and by that i mean, europe, middle east in general, what are the most pr s pressing problems in your view right now? airport perimeter security? background checks of airport personnel? just endemic to the plight of t terror around the world? u mean, what is the first fix that you'd like to see? >> well, i mean, i think that we have to be on alt lert and particularly here in the united states and be supportive of the national transportation safety
11:18 am
administration that it sis properly staffed so that we don't see this event occur in the united states. clearly, there are people that worldwide that are going to try to use aviation as an opportunity to the ma-- to make statement. they did it earlier in e jept in a previous accident, and until we rule that out, it is high on the list. >> we complain about the tsa lines, and those lines are there because those people are trying to keep things like this from happening for sure? >> well, we have a short memory. the airlines had aviation safety, and we had 9/11, so i am very supportive of the tsa and i hope that all citizens will be. >> jim, it is good to see you again, and thank you for the help very much, and former ntsb
11:19 am
jim hall in chattanooga. >> and we are keeping one eye on the markets right now trading off of the session lows, and the stocks are generally repricing themselves as we accept the possibility that a june rate hike is on the table. and with are seeing the interest rates and the dollar is up, and sharply, and the s&p 500 and nasdaq are now negative for the year. and the cisco shares are rallying after they beat estimate, and it is particularly strong for the security products offsetting switching and routing, and that stock up 4%, and sales forts is having a good day with earnings and revenues beating expectations, and the company is raising the full year forecast thanks to growing demand in the cloud. up next, we will talk about mark zuckerberg's meeting with top conservatives on the reporter bias at the social network. a couple of folks in the meet ing will join us in a moment.
11:20 am
♪ [engine revving] the all-new audi a4 is here. here at the td ameritrade they work all the time. sup jj, working hard? working 24/7 on mobile trader, rated #1 trading app on the app store. it lets you trade stocks, options, futures... even advanced orders. and it offers more charts than a lot of other competitors do on desktop. you work so late. i guess you don't see your family very much? i see them all the time. did you finish your derivatives pricing model, honey? td ameritrade.
11:21 am
11:22 am
facebook ceo mark zuckerberg met with the media yesterday on
11:23 am
the heels of the news that newsfeed is excluding conservative news. now after attending the meeting are a couple of guys with red eyes, and they are the targeted digital drirector of the romney campaign, and i enjoy you both for join g ing us after a quick turnaround after the meeting. and now, alex, the they allotted an hour, and what were your expectations? >> everybody came in listen/learn mode, and everybody had a chance to speak and ask questions. they made the full executive team at facebook to answer questions, and the meeting was originally allotted for 60 minutes, and then mark zuckerberg, himself, at one point they had asked, you know, the times up, and the next meeting, and he allowed the meeting to go on to extend it to continue the conversation that was happening, and so it was
11:24 am
constructive, and it is a good start for further conversation. >> and zach, the comments that mark z mark zuckerberg posted on his own facebook page suggested there was potential unconscious bias, and so how do people recommend they don't have the unconscious bias? >> well, that is the challenge with silicon valley, is that there are structural biases in play, and the ceo to meet with a group of conservatives to acknowledge that and saying that they are going to to beic tag steps to address that is encouraging. i believe they can self-police, but the fact that they took the meeting is the testament to facebook taking the first step, because i don't see the meetings with google and twitter and others, and hopefully silicon valley sees it is a learning lesson for all of them and not just facebook. >> but the backlash came from
11:25 am
the public for facebook. >> yes, we got here for a specific reason, but it is a universal issue that will happen. >> and what concrete examples can they do? >> looking at the hiring practices, and that is components of it, and having the conversations of reaching out the you with the position of the dialogue and the proactive and not reactive and how do we get you in here more often, and have the conversations going forward, but sut not specific, because the problem occurred over a long period of time, and it is not going to be fixed overnight. >> yes, and to that point, zach, they wanted to listen and learn before they started to offer up the ideas on how the fix the problem, and they wanted to hear from the group collectively of what our ideas were, and then move from there. >> and alex, we have seen the journal and others taking a side by side look at what a liberal facebook user's newsfeed looks
11:26 am
like compared to a conservative newsfeed looks like. >> well, that is technical and they had people there to the answer the questions, but the scope of the meeting was on the larger conversation, and how can facebook with a platform to cultivate ideas for hundreds of millions of americans everyday, and it is the front page of the newspaper, and their goal is to make s make sure that when you visit the front page, you are seeing the content that is the most interesting and relevant to you. >> and alex, you want to make sure that the 429,000-odd fol w followers that the independent journal has on facebook are actually seeing the posts that you are putting up there, and not having it replaced by other news. are you assured that what you are investing as a company on the facebook platform is actually seeing the light of day?
11:27 am
>> i think it is true with the trend i trending topics and the sidebar is the focus, and the needfeed is 100 if not 1,000 times more important, and it is a separate conversation. but every single publisher, and media company is trying to figure out how best to see the content seen there, and they are doing the best job they can, and it is not a human prob will lem with the newsfeed as it is an alg rorithmic problem with the newsfeed. >> and as you mentioned, the meetings are not happening with google and twitter, and would u like to see them there? >> yes, i would like to, because you want to have a dialogue that is proactive and not reactive. youtube is a massive player, and the ability to contribute to the news, and some conservatives feel like they don't get a fair shake on other platforms, so i
11:28 am
would start the conversations now before they are in a crisis mode. >> you said it is a photo-op. and you didn't g tet photo taken? >> no, we didn't. >> and so, thank you for joining us today. >> thank you. >> thank you. and the stocks are struggling off of the lows on the deadly comments of the rate hike, and saying it is a possibility before the e e kcon can improve this summer, and we will check in with art cash in n a moment.
11:29 am
11:30 am
good morning, everybody.
11:31 am
this is sue herera, and this is the cnbc news update in this hour. and president obama received a briefingmissing egypt airplane. and the plane that was carrying 66 people on board disappeared from radar over to the mediterranean and en route from cairo to paris. >> france's lower house of parliament has extended a two-month state of emergency with which was declared after the november terrorist attacks in paris. it expands the police powers to put people under arrest. >> and now, the s.e.c. says that golfer phil mickelson raised profits by trading in dean food s after a stock trading tip from gambler mick walters. ta will discuss penalties for walters and dean foods at noon.
11:32 am
and sports authority is going out of business. once the nation's largest sporting retailer are will shut down all of the remaining 450 stores after failing to find a buyer for them. you are up to date, and that is the news update at this hour. back to you. >> thank you, sue. and now, back to the update for europe, and it is about as red as our own. >> yes. and the fed caught the down dravt from the fed news, and europe was not open, and it uniformly moved to the downside. and then you have extended the losses in the course of the session, and despite the fact that the egypt plane was traveling like this through europe, it is not the reason that the stock market is down, and i will show you that in a moment. the example, the oil majors, the hea heavyweights in the indices are lower, because oil is lower, and partly, because it is priced in dollars, and if the fed increases rates, then it will move down over a period otime, or at least that is the theory.
11:33 am
and what the banks are anticipating the fed to do you can see jpmorgan and others falling off of the highs earlier. travel stocks are down in negative territory in europe, and the most notable is the uk tour operator thomas cook. he came into the session to today explicitly warning and giving a profit warning because of what has already happened in europe, and the fact that notably, the holidays to turkey for example are being affected by the brussels attacks. and so he sepss a historical move, and yes, the other travel operators are small in europe, but not many of them clogginging up the bottom of the markets today. and of course, a couple of deals going through, and the big movers buyer for example on the mon sanb toe bid, and the buyers are down $40 billion and mon n monsanto is higher in this country, and also, the tie-up with the oil services, and tech
11:34 am
nip is a french oil services, and the valuation is $13 billion and those two have moved, but it is all about the fed, guys. back to you. >> thank you, simon. i will wait for the next move on those, and also, we will look at what the market is doing after what the fed got off of president bill dudley. and looking at the the ubs floor operations director art cashin, and we thought that june might have be on the table, but was the market caught off guard by this? >> yes, it is. but i am puzzled about the fed, and if they were concerned as they appear to be that the market was much too passive regarding where things were, why didn't they put that single sentence into the statement? it had a nice conditional in it if things continued to improve, and then a rate hike in june might be appropriate, and if they had put it in the the statement, why did they want
11:35 am
everybody to dig down into the minutes to find it lt? >> well, the time line if they said it would be too explicit a comment in june, and that is why people thought they would not? >> no, no. i thought that, i don't think that they are thinking, quite frankly, and i don't think that we have learned anything terribly new with the new york fed index town in negative terrte territo territory, and the fed ex down, and the unemployment claims lower level, and the da ta is i not that good, but one thing that is disturbing the market is that you are getting the impact of the emerges markets overnight, and the fear is that if that is really going to take hold, you could get a domino effect in the emerging markets and spill throughout the markets of the globe. we will hear from yellin at the end of next week, but hopefully we can figure it out beforehand >> and we had mctier on, and his views are well known, and he
11:36 am
points that inflation, and wages and confidence starts, ip, and what is wrong with the move here given all of the things running warm? >> well, i think that the markets aren't quite strong enough. i mean, you take a look at what is going on in europe, and this is going to be impacting other areas. so, i know that you think that i'm the most stubborn man on the planet, but i will tell you that i don't believe they will hike in june. >> or this year at all? >> i think that they will fight like hell to do it in july, but the economic conditions will not benefit it. >> and what happens to oil? because the quiet move upward in oil has largely underpinning the quiet move higher in equities throughout the year, and because we have not been seeing the incredibly sharp slides, that is giving people some confidence, but if we are seeing the moves to today, it is down 2.5%, but we are at $47 a barrel, and where does the oil go if the fed moves forward with the hike and
11:37 am
what does it do to the market? >> well, is it is a tremendous counterweight as you noted. if oil continues to weaken a little bit and goes below $45, it is going to be a heavier weight on the market here. >> and finally, a lot of chatter about head and shoulders and the broken necklines and how important is 2040-ish? >> well, it is important. the fact of making lower lows is not helpful. the low so far today is 2027. i think that the viewers want to watch that, and if you break 2025, you might be looking at a run to 2000 and that is going to be a bigger problem. >> art, it is good to see you. >> my pleasure. >> look out for cover on the markets today. >> and getting the latest on the egypt airplane that went missing overnight, and kelly cobiella
11:38 am
with the update. >> since the reports of the finding of the debris in the mediterranean, we have not heard anything, and this is is three hours ago now, and egyptair is not confirming the wreckage has been found despite the report on greek television, and k confirmation from greek officials that something that appears to be consistent with plane debris was found by e egyptian aircraft, and two objects southeast of crete, and one metallic, and the other orange in some appearing to be possibly a life jacket from the airplane, but none of that is obviously confirmed as of yet. it is 5:45, 5:38 in cairo right now, and the sunset hour quick ly approaching, and about another hour of daylight there for the search. this plane took off just after 5:00 p.m. eastern time last night, and 11:00 last night at paris time, and by all accounts
11:39 am
a routine flight for the first three hours, and the greek civil auth authority agent in touch with the pilot saying that he sounded in good spirits and thanked the controller in greek as they were about to pass into the egyptian air space, and then after that conversation, no response are from the plane at all, and the plane disappears from the radar, and the search launched almost immediately after that. 56 passengers on board, and ten crew members, and we are starting to learn more about the passengers including one french employee of procter & gamble, and they were saying that he was the drirector of manufacturing t one of the plants in france. this is an airbus a-320 and new plane rolled out in 2003 and the engines from aie, part of pratt and whitney, and because of that, the ntsb could be
11:40 am
involved, but at this point they have not reached out because the wreckage has not been found, and the big question is if they will continue to search in the evening hours, and sunset about an hour away. k kayla, and carl. >> thank you, and since you have been speaking, we got a statement from egyptair and this is not translated but in english, with reference to the information aired by several tv channels about finding the wreckage, egypt air has contacted the confirmed authorities and they did not confirm the details. so as we have more details, we will get them to you. as googlele lunveiled thei earnings yesterday, we will talk to them when we come back.
11:41 am
11:42 am
11:43 am
p coming up on the halftime report, breaking news at the toch to hour, and we will hear from dean foods trading insider information with phil mickelson, the golfer. and now we will be having a guest to explain uncomfortable trading. and will the greenback kill expectations of stocks? we will have more in about 17 minutes, carl. and the google conference starts in a few moments. and there were some big announcements for a google assistant. >> do you want the users to have a ongoing two-way dialogue with
11:44 am
google. we wanted tole help you the to get things done in the realle world, and we want to do it for you understanding your context, and giving you control of it. we think of this as building each user their own individual google. >> it is all part of the play to extend the google search platform while fending off the competition. walt mossberg is joining us from the verge today. hey, walt. >> hey, carl. >> we had folks on yesterday saying the google guys look smart, but when it come ts to t actual human interaction look at the cardboard or the google glass or the google plus, and was this an improvement on those past inventions? >> well, what they would is certainly what they laid out was an improvement. i think it is more than just an improvement, and it was a big pivot for google. it will take ten years or so to
11:45 am
play out, but sindar laid down the gauntlet with everybody they compete with, we are smarter, and have the data and dope all of the work on the algorithms, and we believe that artificial intelligence is the way that we are going to win. i think it is a pivot to move away from mobile centricity and away from the smartphone. obviously, it is not abrupt, and they won't stop caring about the smartphones, but think they believe that artificial intelligence is their business. >> and every one of the googlele competitors believe they are doing to the same thing, and we have the data and the technology and the resources the do it, and why isn't googlele's announcement just, us, too. >> well, kayla, because they are not all as well equipped, and every one of them is a little bit different, and facebook
11:46 am
knows a lot about you, but facebook may not have all of the backend engineering of things like voice recognition that google has, although they did just steal one of google's top hardware researchers. apple obviously brought out siri in 2011 before any of the people had any kind of assistant, but as we know, siri is remained surprisingly limited, and because of apple's huge commitment to privacy to the point of taking on the government, they are not able to draw on the enormous collection of information ta google has. amazon is doing real well in the field, but again, amazon knows much less about you than google do does. so i am not saying that google is going to win this, but i am saying that if you are looking at google and the business plan and looking at the kind of the whole agenda of the competition
11:47 am
between these giants, yesterday was declaration of war day on artificial intelligence. >> okay. interesting. and now, you are obviously already saying that bezos is not about to stand still, so what do you expect to be the natural return service on that from him or anyone else for that matter? >> well, i think that they are all going to be having a return service. apple for instance says that, hey, we can do all of this stuff, and just with what is localing on the phone without risking your privacy in the cloud. and bezos, amazon has separated from the start really the echo device which is selling very well from the alexa a/i platform underneath it, and they are licensing it to other people, and hooking up all kinds of the third-party services to it as fast as they can. i mean, literally a press
11:48 am
release at least once a week from amazon about new futures and new things that are going to be hooked into. and so they are in it in a big way. it is not like google has the play playing field open to itself, but i was quite struck that they talked about a messaging service, and android wear, and home device, but what ran through all of it is the google assistant which is not even a product. it is sort of the new, the new foundation of googlele. >> and walt, before i will let you go. if i told you that you could have one voice in your home, alexa, siri or cortana, what would it be? >> in my home? sort of stationary in my home, it would have to be alexa, because the -- >> wow. >> the other two are on your mobile phone or on the device.
11:49 am
there is a report today that apple is going to be putting siri into the mac, and that is great, but apple has not put it into the, and they could because they have the capability, but they have not put it into a piece of hardware nor microsoft, a device just devoted to that, and so right now, you have to pick alexa, but i are will be asking both bezos, and pachai about that at a conference. >> thank you, walt. we can't wait for that the. and joining us live. and now we go to the santelli exchange. good morning, rick. >> good morning, carl. there is a real market fed-feud go g going on, and we had fed dudley talking and some of the headlines and the context is sent to me, they have been clear on the hike outlook, and he said
11:50 am
that he was surprised that the markets didn't pay attention to the fed speakers. you remember that game, the feud game, well, to that and those comments i go, urg, urg, urg, because it is not the reason. come on. things could not be more fon kuzing. the fed speakers, do we listen to them or not listen to them? it seems when they believe that things are getting a little too complacent, they send out an army to create the faux controversy, but yet how many big dissenters do you see, and yeah, once in a while, you are will see the dissension, but it is not like the revolt and the picket line out sooside of a coy on strike, and that is the way it would be if i were descenting, and these are monumental, and my take, there is not a mixed message, and the mixed message the strategy, and extend and pretend and call it anything that you want, and plus, how can you communicate something that you are make up as you go, and i don't mean it in a derogatory fashion. it has never been done before,
11:51 am
and the bank of japan is agonizing over to the notion that they have been able to on strong fishing line to try to prop it up with the massive amounts of experimentation, but yet, the fishing
11:52 am
11:53 am
11:54 am
11:55 am
11:56 am
11:57 am
11:58 am
stretching and exit? exit is not talked about, because in my opinion a, it is next to impossible, and b, if we do it, it is going to be taking a long time to get rid of the accumulated assets that have artificially given us a market that looks good. besides if all of the word today is confusion in the markets is horrible, i am not sure that i'd buy it. the markets are about money. and this has to be about more than money, and ob brexit, and you nknow, uncertainty is why te fed is considering not normalizing, and if the vote was 58% in the polls that they were goin they were goipf olay regenerist renews from within...
11:59 am
plumping surface cells for a dramatic transformation without the need for fillers. your concert tee might show your age... your skin never will. olay regenerist, olay. ageless. and try the micro-sculpting cream you love now with lightweight spf 30. test. test. test. test. test. test. test. test. test. test. test. test. test. test. test. test. test.
12:00 pm
test. test. test. welcome to halftime report, i'm melissa lee in for scott wapner. ferrara is set to speak charging dean foods and thomas davis for insider trading. with e will bring that to you when it is under way. joining us is pete and jon and steven and pete. >> we have a statement from

379 Views

info Stream Only

Uploaded by TV Archive on