We had better than estimated Economic Data this morning. Largely, inflation getting closer to the feds target of 2 . With saw Industrial Production overall falling, that manufacturing zynga first gain in three months. Overall, the Economic Data was a little bit better. We have the sectors on the move and this sort of push off and pull with utilities dragging things down. Health care and Consumer Discretionary helping to support gain spirit, not it is our of the story. The weight from energy and copper worth mentioning. Copper prices at a sixyear low. Gold is trading lower today. Crude oil falling by 1. 5 after gaining yesterday and ahead of tomorrows inventory report. That is the drag we are seeing on the markets. Betty but retailers are holding off, arent they . Julie yeah, and that is why Consumer Discretionary is one of the better performing groups. Walmart is a big part of that. Betty is going to talk with Shannon Pettypiece in a moment about those walmart numbers. Shares are risin
Rising. We are not getting the volume yet. I am looking at the volumes, 4 below the 10day average. A surge at thee close with the expectations of futures contracts. The s p of one half of 1 . The dow is leading in percentage terms, up 6 10 of 1 helped by nike and United Health, the biggest contributors to the game after nike announced a 2for1 stock split and a buyback. Theyre bouncing back after yesterdays decline that it may pull back from its Affordable Care act coverage exposure. It was ae analyst say buying opportunity. Susquehanna says they do not think this will be a material event for united house. The dow is turning positive for the year to date. Not by very much, just of a 100ths of ajust 8 percent. We have positive numbers from retailers. It seems like it is give and take. Somethingre might be said for people coming in because they are so battered. The outside gains may be because they have been down so much. Abercrombie is showing evidence that its turnaround is finally star
Yahoo is now reconsidering a sale of its main business, rather than a spinoff. Its main web business, that is. We will be getting more details im sure throughout the hour with this scoop again by our reporting team. You can see shares spiking by more than 3 . Broadening out to the major averages today, weve seen quite a bit of bouncing around right now. All three major averages are very little changed, even after that jobs report. Somethings counterbalancing include continued worries over whats going on in china and volatility in the markets there. If you look at the s p, speaking of volatility, over the course of the session theres been quite a lot of bouncing around. The s p get a little more decidedly negative in midmorning before recovering. Just been bumping along a little changed for the rest of the day. Some of the winners during the session include some of the natural gas related stocks, were seeing natural gas higher today. Consol energys, viacom also participating in buying i
Bloombergs julie hyman has the latest Bloombergs Julie Hyman has the latest. Selling off on the news. Julie it has not been as dramatic a reaction. Lets take a look at stocks. All three major averages are falling to their lows of the day, down pretty sharply here. If you look at the interpretations i have been seeing and hearing about on the past hour of bloomberg tv of the fed statement, there is nothing to warn of this kind of reaction. Didal he said the fed not do anything that differently in this statement, aside from acknowledge what has been going on out in the world, but not really raise any sharp alarm bells. If you take a look at the intraday chart of the s p 500, this move is even more stark. Some vacillation when the statement came out. After unusual as people read through thats not unusual as people read through it. Then, sharply lower. Again, now falling to the lows of the session. Interest rate expectation being priced into the fed funds futures, 21 chance of an increase
The only performing as in in the stocksector today is oil , what a move weve had in oil in the last hour, as speculation firstly arrives that there might he and opec, nonopec meeting, and of course it is denied by various opec delegates, showing the skittishness of the market. Yesterday we talked about europes secondbiggest drug maker. It derived more of its earnings from companies that high high that have countries with high levies. Europes secondbiggest clothing retailer, also down by 5 . Weve had unusually mild Winter Weather here in europe. That has prompted discounts as well. The company said it will get no wrists bite from the strong dollar in the first quarter. From the strong dollar in the first quarter. Johnnie walker whiskey, smirnoff, captain morgan rum, you know this Company Betty what are you talking about . Mark you cant kid a kidder. Basically earning speed, but they underwhelmed analysts. Its all happening, and earnings dictating the move of the stoxx 600 today. Betty a