Care so far in the quarter. They are experiencing a modest pullback. If you are looking at the leadership so far, there it is, and the energy, and the financials, and the materials and health care, and the s p is largely flat, and they are pulling back on the stocks that have made the most money, and this is a garden variety pullback, and this is 2100, and that is what you have to keep in mind here, and at the end of april 2100, and 51 point, and this is a 2 pullback, and this is nothing terribly noticeable, and i would note that the weak dollar is not helping the commodities, and the weak china manufacturing numbers are putting the pressure on commodities, and that is the bigger story, and looking at brazil, and south africa down big, and exploration of the production down on the weak oil numbers that we have been seeing in the last couple of numbers and oil is on the downside. So it is the commodity play and the weaker china more of the big story here. And also, iron ore gyrating all
That yield. Yield does go thats yield. Yield goes higher. Crude oil is the key to this market. Geez. I say that before my friend to the right of me says it. Wow. Were above 50, jim. Thats a move. Its for real. And that seems to be having a broad impact as you might expect on so many markets which we will get to as we start the road map this morning. Glencore higher in the premarket. It plans to cut production, but alcoa lower on weaker than expected results. Tesla gets a downgrade while elon musk lobs a put down at apple. Oh, yeah. A bit of a smackdown. And gap shares are down almost 8 in the early trading. That on declining samestore sales. Well, oil prices as we said, extending gains. Crude on track to post the largest weekly increase percentage wise in six years. Shares of glencore also up. That after the Company Announced plans to cut annual zinc production by a third. And alcoas falling after it posted weaker than expected quarterly results, in part due to lower aluminum prices. L
Markets struggling a bit in large part because of apple. Shares are slumping after iphone sales posted their slowest year on Year Growth Rate in history. Josh lipton spoke to tim cook and joins us with more. Carl are the best days for iphone growth in the past . Thats what investors are asking this morning. Thats why so people think apple is breaking out the growth of the Services Business. That includes apple pay, app store and itunes. Apple revealing there are now 1 billion active apple devices which generated 5. 5 billion revenue in the First Quarter and that was a new record but rbc asked whether apple could be highlighting services because iphone unit verss have peaked. You take a look at unit sales. The iphone had been on the upward trend and now the worry is apple hit a growth ceiling. There was fractional growth in the Holiday Quarter and ubs estimates a drop of 15 in for q2. Tony on the call did question tim cook about whether theres now a saturated smartphone market. Cook dis