Assistant is spying on you. Now they may be setting you up for scams and robocall as well. It is tuesday, august 20th. Fbn a. M. Starts right now. Meet me at marys place. Were going to have a party. Meet me at maries place. Were going to have a party. Lauren welcome to fbn a. M. Good morning, im lauren simonetti. Cheryl good morning, im cheryl casone. Lauren u. S. Stock futures looking to continue mondays rally. Might be a struggle today. Dow futures up 25, s p up 3, nasdaq up 11. Cheryl weve seen an evening out for the 10 year treasury. Were up 1 basis point. Lauren oil, big rally yesterday, prices giving back, actually gaining again this morning, up another 19cents, 56. 40 a barrel. Lets check gold prices for you this morning. They are trading at 15. 12 an ounce. Cheryl china setting the new prime rate, 4. 25 , that could be really good for chinese real estate investors, plus another 90 day reprieve for huawei. As you can see, shanghai and hang seng a little bit of pressure. We saw g
Press secretary America First sean spicer, payroll tax cut exploration and the mayor of el paso, texas demargo to talk immigration. Preview of trust open which begins tonight with the opening the opening party, you dont want to miss a moment of it so do join us. Breaking news, home depot is out, Ashley Webster with the numbers, ashley. Ashley good morning to you, match, earnings per share coming at 3. 17, that beats the estimate of 3. 08, revenue touch short, coming in at 30. 84 billion, estimate 30. 9 billion, samestore sales up 3 , u. S. Same store sales up 3. 1 , lumbar prices are affected declined significantly compared to last year for home depot, impacted the sales growth, approximately 3. 1 from fiscal 2018, Sales Guidance for the lumber price, so the cheaper lumbar is helping the numbers for you, those are the headlines for you, they have said before, maria that the tariffs, if they continue in the current form could cost them, home depot about a billion dollars each year, that
Year not beating estimates. David it looks like their stock is down in the premarket about 2. 5 . Home depot before you so rudely interrupted me alix david is funny today. David not very funny. Per depot beat earnings share, a little light on revenue. They basically blamed a lot on lumber disinflation, basically. They are warning a lot about china. One is how they want to eat up the lumber costs, a 21 drop in the cost of lumber. At the same time, you have continued slowing homebuilding, but theres a lag for that. Home depot not necessarily feeling the full effect of that could weakness. Because of the price of lumber, overall sales are down. They took it down for the year. There estimates went down. Ls, theykoh reaffirmed their adjusted Earnings Guidance on that comp sales mess. We will dig into retail more over the next couple of hours. The equity markets looking a little bit soggy here, with s p Futures Party much flat. Dow jones off by about five. It doesnt feel like theres a lot of
Resident negotiators with no deal odds rising. There timing is a hint may be a willingness to talk. Another round of earnings reports sends signals about the Global Economy. Xiao me is facing headwinds on a number of Macro Economic fronts. We are seeing weakening. Rosalind Federal Reserve chairman jay powell speaks at jackson hole. We are at a sort of equilibrium right now and i would be happy to leave rates here. We have to be careful not to ease too much when we do not have significant problems. Lower rates will stimulate our economy somewhat. I dont see this as the end of a rate cutting cycle. I think we are where we need to be. Rosalind it is all straight best. N Bloomberg Rosalind hello and welcome. I am rosalind chin. This is bloomberg best. Your weekly review of the most news and Business Analysis around the world. Lets start with a day by day ns look at the top headlines. On monday, markets responded positively to news that seems to imply an easing of u. S. China trade tensions
For nvidia long my favorite stock one i always say to own, dont trade. Yet i keep hearing about how to trade nvidia should you go long or short . The greatest avl intelligence play of our time one thats already changing the world with its borderline miraculous semiconductors. Should we declare victory, sell the darn thingup here . Maybe buy some more. And then it hit me why dont i just tell a dad joke so here goes [ rimshot yeah that is why my sisters names rose because your mother loves roses. Thanks, dad. No problem nvidia hallelujah plunging 606 points. Nasdaq tumbling. Nasdaq losing. 39 prs. We have to recognize there was one stock of one truly Great Company that frankly has nothing to do with the dow or the nasdaq or the fed for that matter that stock is nvidia it is quite simply much bigger than a Semiconductor Company much bigger than a can p, much bigger than the platform i owned my late rescue dog after because i didnt think enough people owned the stock. Who is nvidia, what i