Alibaba sliding as growth slows to a three of year low. Macys volatile ahead of the estimates. Well have comments from the ceo who was on squawk box. Thats coming up with us. And getting ahead of cisco ease first report. First up, futures are down following tuesdays sell off off the lows of the morning. China devaluing the yuan. According to reports china intervened in the final minutes of trading. We got to some interesting levels. Fits in with what youve been saying for a long time, jim. These guys know what theyre doing and theyre doing it systematically. They have to. Theyre an export nation. When they came out its interesting what happened. When they came out, it was like it broke up the chatter even at the club. Thats how important this was. People werent necessarily all financial guys. Then monday is nobody is paying attention . They have to cut. I was waiting for germany to be able to fall. They sell bmw, mercedes. This is a big market. I was shocked. And the germans are still
Have been lost as a result of all of that. The biggest blizzard though turned out to be inside the New York Stock Exchange today. Well put. Take a look at whats happening in the market. We are geared up for a negative start then got a flurry of earnings. Caterpillar disappointing. Microsoft didnt help thing. Both stocks getting hit hard. Whats interesting, thats contributing to the dow being a weaker performer than the s p today. Its off 231 points. The s p mean while down less than 1 . So you could argue perhaps its an oversized reaction to a couple big companies, but by the way, theyre important companies, and by the way, the nasdaq also off 1. 3 . If we get a moment could we see crude oil settled higher. We did see a comeback in that sector and energy was one of the leaders to the upside in an otherwise down day. Crude oil was up 2 . It was up 3 in the settlement. Were in the electronic trading right now. In fact, i will just point out, the aaa Daily National average gasoline gauge
Bags than ever. If you think the bronx deserves its own beer maker . Meet the Master Builder of the bronx brewery. Nexthat and more over the half hour but first lets get headlines from carol massar. The big story at this hour alibaba seeking to raise 21. 1 billion dollars in what could be the largest ipo ever in the u. S. The plan to sell 320 american shares for 60 to 66 a piece. At the high end of that range, that means the offering would give the company a market value of 162 billion the company that supplies Image Processing chips for cameras shares rallied. They topped assessments. The californiabased company has grown sixfold since october of 2012. The u. S. Stocks report missed estimates. The economy added thousands of jobs which is the smallest gain of the year and comes after increase of 2012 jobs in the month of july. The Unemployment Rate falling because more people left of the workforce. Back to you. Thank you. We will stick to the theme because jack ma has some scratch. He
Meet the Master Builder of the bronx brewery. All that and more over the next half hour, but first lets get headlines from carol massar. The big story at this hour alibaba seeking to raise 21. 1 billion in what could be the largest ipo ever in the u. S. They plan to sell 320 million american shares for 60 to 66 a piece. At the high end of that range, that means the offering would give the company a market value of 162 billion. The company that supplies Image Processing chips for gopro cameras shares rallied more than 3 . The lastest stocks forecast topped analyst estimates. The stock of californiabased company has grown sixfold since it went public in october of 2012. The u. S. Jobs report for august missed estimates. The economy added 142,000 jobs which is the smallest gain of the year and comes after an increase of 212,000 jobs in the month of july. The Unemployment Rate falling to 6. 1 but economists say that is because more people left of the workforce. Back to you. Thank you. We w
After five weeks of gains, setting the average lower despite good news about Consumer Spending and a strengthening u. S. Dollar. Investors lightened up on stocks as treasuries moved higher and crude oil and prices on other commodities continued to slide. At the closing of the bell, blue chop stocks down 61, nasdaq skidded 64, the s p drifted by about four, nasdaq off a fraction and the s p down more than 1 , as for the dollar it strengthened more than other currencies for the ninth week in a row. A big factor for todays slide, a big cause of actition one, when to raise Interest Rates, two, scotlands vote, which could send markets around the world in a spin, and three, alibaba, the chinese ecommerce giant, expected to be the biggest ipo in history, steve liesman, we begin with steve and the Federal Reserve. Reporter it could be a september fed meeting to remember, the central bank is a month away from ending its bond purchases or quantitative easing, there is speculation it could take s