Today after forecasting a 6 to 12 drop in earnings in fiscal 2017. The question is how much of a warning sign is it for other retailers and what is it telling us about the economy . Thats not the only story today. Its not just about equities. Take a look at the tenyear yield. The beige book came out an hour ago and the markets really didnt like it in terms of the growth stories, so were back below 2 on the tenyear. The dollar index is now at a sevenweek low. The euro has moved to a sevenweek high against the dollar itself. Gold is now back above its 200day moving average for the First Time Since may with an almost 2 move higher today. One of the countrys largest mortgage lenders wells fargo reporting its results. Were going to get the cfos take on the housing market. John strewsberry coming up. Netflix will be reporting earnings after the bell tonight. Well tell you the number to watch for in that release, coming up later on closing bell. Courtney reagan, what more have we learned . Wa
Divide at the Federal Reserve. But we do begin with fears about the worlds biggest retailer. Shares of walmart tanking right now after cutting its threeyear outlook. Were currently down by 8. 3 at 61. 16 a share. Walmart executives meeting with analysts at this hour, as we mentioned, and Courtney Reagan has all the details of it. Hi there. Walmart investor meeting, the analyst q a wrapping up, the group asking for more clarify on the warning on longterm guidance but not much more clarity was given. Executives highlighting that the Major Investments they continue to make for the earnings per share impact. Fiscal year 2016. Walmart now expecting sales growth to be flat due to Foreign Exchange impact. Also for 2016, reiterating the earnings per share guidance of 440 to 470 but 2017, thats when the he have yet guidance comes in. Eps down between 6 and 12 from prior year, walmarts guidance given. The impact really lies in the fiscal year 2017. Walmart says its the second year of heavy inves
Specifically to its next meeting, the last one of 2015. Stocks pulled back initially only to take off, rising more than 1 by the close. The Dow Jones Industrial average gained 198 points to close at 17,779. The nasdaq rose 65. The s p 500 notched a 24point gain. And the yield on the tenyear treasury rose. Steve liesman has more on the feds assessment of the economy and what it might do next. Reporter some big changes in the feds october statement that suggest a possible rate hike in december. The fed left Interest Rates unchanged, but it downgraded its concerns over Global Economic and financial development. Its now monitoring those issues, rather than saying its worried about their effects on the u. S. Economy and inflation. Second, the fed downgraded the job market, saying it slowed, even while it upgraded the consumer and business spending, saying theyre growing at a solid rate. But heres the big one, the fed put a december rate hike back in play. The new statement says, in determin
Specifically to its next meeting, the last one of 2015. Stocks pulled back initially only to take off, rising more than 1 by the close. The Dow Jones Industrial average gained 198 points to close at 17,779. The nasdaq rose 65. The s p 500 notched a 24point gain. And the yield on the tenyear treasury rose. Steve liesman has more on the feds assessment of the economy and what it might do next. Reporter some big changes in the feds october statement that suggest a possible rate hike in december. The fed left Interest Rates unchanged, but it downgraded its concerns over Global Economic and financial development. Its now monitoring those issues, rather than saying its worried about their effects on the u. S. Economy and inflation. Second, the fed downgraded the job market, saying it slowed, even while it upgraded the consumer and business spending, saying theyre growing at a solid rate. But heres the big one, the fed put a december rate hike back in play. The new statement says, in determin
Specifically to its next meeting, the last one of 2015. Stocks pulled back initially only to take off, rising more than 1 by the close. The Dow Jones Industrial average gained 198 points to close at 17,779. The nasdaq rose 65. The s p 500 notched a 24point gain. And the yield on the tenyear treasury rose. Steve liesman has more on the feds assessment of the economy and what it might do next. Reporter some big changes in the feds october statement that suggest a possible rate hike in december. The fed left Interest Rates unchanged, but it downgraded its concerns over Global Economic and financial development. Its now monitoring those issues, rather than saying its worried about their effects on the u. S. Economy and inflation. Second, the fed downgraded the job market, saying it slowed, even while it upgraded the consumer and business spending, saying theyre growing at a solid rate. But heres the big one, the fed put a december rate hike back in play. The new statement says, in determin