Nordstrom, jcpenney and others. All time highs, Consumer Sentiment at 16year highs. So whats wrong . I would say it is a shift of something weve been watching for a long period of time. They talk about declining sales. Weve been watching amazon and how it has been performing. We know it is about online. Jan was talking last week about the idea of you better have an Online Presence. If you dont, youre in trouble. And it better be on its way and building right now. Those that dont, they are getting beat up pretty hard. I think thats what were seeing manifest itself as we hear about the declining in store, thats the main thing. If your revenues are coming, the majority, much more than the majority, the extreme amount is coming in store and youre not able to keep one that, online is killing you. That implies consumers are spending, just not in the stores. The dollars are being spent somewhere. I think the dollars are being spent somewhere. Where it seems to be the hardest hit is the Depart
London time it is 9 00 in the morning london time. This is as oil is rallying a little bit. Data that is meant to forecast that u. S. Crude stockpiles fell. Gold advancing as the foldout desk as the fallout from we will have plenty more on the markets. Lets get first to the bloomberg first word news with nejra cehic. Nejra the Federal Reserve is using confidence that it needs to tighten anytime soon. The meeting last month held before the britons referendum shows officials facing rising uncertainty. Policymakers want proof that job creation has resumed at a healthy pace, the underlying momentum is intact and inflation bill gross says sovereign bond yields at record lows are not worth the risk. He built the worlds Biggest Bond Fund spoke to bloomberg television. High durations which we have now at low Interest Rates. Even a small change in terms of yield can produce a significant loss. Your sovereign bonds are not up my alley. For more u. K. Property funds have frozen withdrawals as inv
Profitability. It all comes down to cost cuts. Hsbc heading annual cost of bout 5 billion. Jonathan he had a bit of a message for the bank of england. Alix and it come downs to the Retail Banking sector. Were going to have a big interview in the next three hours, talking commodities with the new man in charge over at oy tinto rio tinto. You look at overall at the arkets, it seems to be a risk. Jonathan s p 500 futures marginally negative. In europe, its the ftse 100 thats soft but no drama. Hsbc stands sure leading the gains. In the f. X. Market, this is the one to watch as the cable rate against the u. S. Dollar ahead of the bank of england decision. We are positive on the day but we trade at 39. 78. And ahead of pay rolls friday, ahead of the bank of england decision on thursday, yields coming in on 30year treasurys and off 30year gilds as well. Alix time warner increased its full year outlook and a 10 investment in hulu. You can glean it beat on earnings coming in at 1. 29 a share b
Welcome to power lunch. Im melissa lee. Less than three hours left in the trading day. Stocks are near session highs. What happened to the fry selloff . We have the nasdaq up a full percentage point. Strength in technology, and in particular in technology, take a look at shares of apple seeing the best day since july 27th, higher by 1. 6 now. Heres what else is happening at this hour. Hillary clintons doctor says shes being treated for pneumonia. This after she had to be held up and helped into a van while leaving that 9 11 Memorial Service early over the weekend. Donald trump responding right here on cnbc. Listen. I hope she gets well and i hope she gets well soon. But, you know, it was quite sad to be honest with you and i hope she gets well soon. No satisfaction, believe me, whatsoever. Also today, in business, a big agricultural deal, potash teaming up with agrium to create the Worlds Largest fertilizer company. Hp, hewlettpackard getting big near printers, buying samsungs printer
Volatile trade in the after hour sessions so far. Well bring you the head loins as they break. Well be checking in throughout the hour with bgcs colin gillis manning the red phone and meantime, guy, what do you make of the quarter . I think given where the price of the stock is, lets just call it 100. I think its something for everybody. Bears will point to the iphone shipments being somewhat disappointing. Bulls will point to increasing margin improvement and bears will point to the tax rate being a help to eps. Bulls report maybe will report to the fact that revenues were not as bad as some of the nay sayers on the street were going to say given what we heard from the supply side. Right here where its trading 99 is a coin flip. Given the choice between the two i think you buy it here. The Conference Call will really be key in terms of breaking the tie between the bulls and bears. What would be your number one question for tim cook . I guess it would be Forward Guidance which wasnt fa