Let's Kick it Off With Trade
Another day, another trade headline.
Or...three or four.
Yesterday, Wall Street got a couple of different headlines from President Trump -- including a 15-day delay on tariffs that were expected to go into effect Oct. 1, and then Trump said that he could be interested in an interim trade deal with China, which was followed by China saying that it would exclude U.S. soybeans and pork from additional tariffs.
In his Real Money column Friday morning, Cramer wrote about the impact of the U.S.-China trade war on stocks and broke down what stocks were being held "hostage" by the trade war.
"Let's play a game: hostage versus non-hostage. It's a game that aims to tell the truth, not to follow conventional wisdom about which companies are really hostage to China," he wrote.
So, are these latest headlines actually a confidence boost for investors or should investors take these headlines with a grain of salt?
Let's get into Real Money Stock of the Day Broadcom.
The company reported fiscal third-quarter earnings of $5.16 a share, beating analysts' estimates but the chipmaker cautioned that a recovery in global semiconductor markets could take longer than anticipated.
Revenue in the third quarter rose to $5.52 billion from $5.06 billion in the year-earlier quarter and matched analysts' forecasts.
Broadcom said it expects fiscal-year revenue of about $22.5 billion, unchanged from its prior forecast but below analysts' forecasts of $22.61 billion. Broadcom said it expects an adjusted operating margin of 52.5% for the fiscal year, also unchanged from previous guidance.
Should CEO Hock Tan be calling a bottom for semiconductor demand?
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