All but four states start their tomorrow. D lawmakers in about 20 of those states have yet to finalize a budget. Maines governor is threatening a shutdown for the First Time Since 1991. Its the 11th hour negotiations for negotiatigauche for legislations and nowhere are the financial pressures greater than in illinois. Which has faced its own twoyear budget stalemate and is now on the verge of having its credit downgraded to junk, but there is some movement today. Today, the house gave initial approval to a spending plan. Leslie picker reports from chicago. If you want to better understand the economic prices in illinois, look no further thap the 16 stories government building known as the jean r. Thompson center in downtown chicago. Everyone agrees it could be sold. Its worth about 200 million, money that could be used to help the state, which is broke, but the democrat emanuel and Bruce Browner couldnt find a way. The governor announ thats okay. With all these bells and whistles. I sa
Welcome to power lunch. Im michelle carusocabrera. The major averages are lower kicking off the busiest week for earnings but the s p tracking for its best monthly gain since february the nasdaq was on track right here, yes. Best month since january oil pushing higher, crude prices up more than 1 . We keep show l well get to that. Financials carving out small gains, utilities and health care lagging, j j, home depot, the biggest losers in the dow right now. Some of the big movers pandora higher on news of state pajama makers, maybe not blue apron, we finally get it, soaring on positive comments but hasbro is tanking. A deeper dive on these stocks straight ahead here on power lunch. Thank you, michelle. Im tyler madison. Waiting for Jared Kushner to make a statement at the white house after his session with the Senate Intelligence Committee Earlier today. We are also waiting for the democrats to unveil what they are calling their better deal for the economy and for americans at an event
The adp employment report in july ahead of the jobs numbers on friday and at 8 30, the treasury refund announcement. They are refunding the treasury. They are going to be trying to limiting the effect of the fed reducing its Balance Sheet. Also what 8 30 this morning eastern time, alix steel will interview Goldman Sachs Ceo Lloyd Blankfein. Lesters speaks at a business conference, and John Williams speaks in las vegas on Monetary Policy. Late yesterday we got news of Apple Earnings for its Third Quarter and the tech giant Beat Estimates on earnings per share, robust growth and strong projections on revenue for the rest of the year. Here to take us through the numbers is angelo zino. He has a 170 target of the price and is joining us from adam sitslittle as area, bloombergs tech reporter. Give us the numbers that are most important to you. Adam the biggest thing is now about looking forward. There have been some concerns about the next iphone that adam apple will be producing will have
Power lunch starts right now good day, everybody the three averages bouncing back just a bit from yesterdays selloff and three days of declines the latest inflation data fueling some gains despite those gains, the dow is on track for the worst weekly decline since april. The s p 500 on track for its biggest weekly drop since march. Check out the transports, they are on pace for their best daily performance in a month youd say maybe its a little mixed picture. Fedex, rider systems, avis, budget leading the way. We begin with a stock not doing it right investors are losing 20 of their money again today and that continues a run of pain that put the stock at a 45year low Courtney Reagan is here with more on whats hurting the company. The stock reaction for j. C. Penney and other stores has been more severe for several reasons. They had run up 20 since the last reports we did get trends so some sell on the news here but sell because big industry head winds are still very much alive for this
Good morning. Happy friday and welcome to Worldwide Exchange. Im sara eisen. A quiet and reserved happy friday. Yeah. Happy friday happy friday tgif good morning to you from me as well. Im wilfred frost. I thought you were referring to the music, too. Maybe the music lulled you into it. Its new music friday. Were not sure what that song is called. Well find out. Well give you the name later. Lets get to the market action. The Global Market this morning after a mini rally on wall street yesterday, show you the futures board this morning and how its shaping up on this final day of the quarter. A great one for global stocks. The wordow futures are lower th morning on the final trading day, down about 48 points. S p down 5. 5, nasdaq down 14. The nasdaq outperformed everyone this month. The s p went flat yesterday to higher in the trade. The dow still down for the month of march. As for the tenyear treasury note yield, ticking higher yesterday. Bonds selling off. You saw that healthy finan