Higher after several days of declines and following the string of declines we have seen around the world. Also strong because of technology earnings. Take a look at whats going on. Walmart is up 7 . Comparable sales of 2. 7 . The strongest it has seen in eight years. Its having its best single session in a year and half and trading at a record high. Cisco shares are also rising expressedcompany optimism that its transition to more Software Services is going well. Its Current Quarter will have twofirst sales gain in years. Thats helping propel those shares higher. Weve got walmart again. Rockwell automation. Rockwell shares have been rising. Also taking a look at paypal and synchrony financial. It is buying a Loan Portfolio of 6. 8 billion dollars from paypal. Its also getting an exclusive contract for paypal Consumer Lending and paypal is also at a new high today. Mark getting some breaking news on siemens planning to cut jobs. It is closing at least two sites. Europes biggest Engineer
Not big gains are necessary to get to that record. Abigail the rally continues. Eight days are looking at gains averages. Jor a lot of optimism around tax reform. Results for the big banks, but the effect on the markets overall is a tailwind, especially with jamie dimon talking about how it will be a positive for the country Going Forward. Where there is not a lot of optimism is facebook. We have an intraday chart of facebook cover which i can pull up. It is right here. There we go. Facebook is down 4 . His worst day since the end of november after the company prioritizehanges to not brands. Family, Mark Zuckerberg says people might disband less time on the changes,ecause of the but the time will be more valuable. Investors are a little shocked by the declines. The s p 500, looking at some of the Department Storerelated rbc and jpraded morgan went overweight from neutral. Citing tax reform, brick and mortar stabilization, and other factors. This is giving a tailwind to the entire Depar
The decline for the month of july state in place, down 6. 8 , durable goods for the month of july. Not much of an influence on major averages. Small the clouds for the now, s p 500 and nasdaq. We are looking at declined. The s p 500 is on pace for its first down day in seven as there are increased tensions between north korea in particular. The last times we saw as tensions with north korea in the month of august stocks initially sold off and recovered. Not necessarily on the day, but shortly thereafter. Turning to one boost for major averages, energy. The s p 500 index, up about 6 10 of 1 , getting a tailwind from oil, up nearly 3 . This is taking some of the movers come a Companies Trading higher including baker hughes, je ge along with halliburton. The worst sector is financials. Yields,eing dragged by down six basis points. Bonds ares that rallying. In addition to having modest declines for stocks, we have investors going toward some of the Asset Classes including bonds along with
Nonmanufacturing ism. Ther yesterdays selloff, worst in three weeks, after investors contend with uncertainty, whether geopolitical tension, hurricanes, again, small gains as investors regroup after that day yesterday. We also have the Dow Jones Industrial average rebounding today. What was weighing on them earlier or the airlines. We will seek sharp declines on the airlines on the day, including american, delta, united and southwest. All the stocks are down about 1 or more. United down the most about 4 . Is weighing on these shares and some airlines are cutting flights in the caribbean but United Airlines did cut their revenue view within the Airline Industry and George Ferguson of bloomberg analysts say it is pretty sharply, so we see those sharply. Back to you. Julie thank you w. Thank you. We have overnight breaking news of the bank of canada raising and we see a drop in u. S. Dollar versus the canadian dollar. The bank of canada saying it is raising rates to remove some of the con
Our international correspondent, hopefully i have the title right and marty schenker. What is your title, i do not have it . Marty it is too long. The smartest guy. Julie are you surprised we are not seeing much of a Market Reaction . Marty i am not surprised because rates are so low and the markets had priced out a december rate hike at the moment. There is not a lot of plays for them to go. Stanley fischer is the vice chair, not of chair, he is very influential but also seen as a yellen and janet the fact she is there does not change the outlook for shortterm policy. It might change longterm about who gets appointed but between now and the end of january when she would believe in her position probably does not have a major impact. That stansay this fischer has vast relationships around the world with other Central Banks and he was, i am sure, the goto guy when central bankers from around the world needed feedback about the u. S. That is a communication mechanism and will be gone whic