Ive taken this quarantine times to update a couple of bathrooms. Not. Light bulbs i have always wanted to be handy. These numbers are expected to be insane i did change a couple of light bulbs. They are all different so finding the right one for all the Different Things my wife has, it is not easy. I have changed a couple of them but thats about it. Rising to the challenge, im sure before we get those numbers from home depot, lets start with the overall markets. The s p 500 finished the session just shy of the high just shy, we are talking 4. 15 points away from the record it is sitting at at this point. 3,386. 15 is where it closed. The record from february is 3,393. 52 the record close of 2020 up another 1 to 11,129. Looking at record futures. Two dow components reporting home depot and walmart big numbers expected from both of those dow futures up by 64, nasdaq up by 40 and s p up by 7. Dow component reported 4. 02 a share. Consensus was 3. 71. I noted revenue gain was over 23 . Com
Weigh s wider restrictions on huawei road map begins with apples coronavirus warning cautioning it does not expect to meet quarterly revenue forecasts. Shares are sinking and dragging the dow down with it plus big tech needs more regulation. Why Mark Zuckerberg is calling for more scrutiny of facebook. And walmart earnings look to fall short as the whole day season takes a hit well hear exclusively from Doug Mcmillon in a few moments. Apple warns it will not meet prior revenue projection due to the coronavirus outbreak the virus limited iphone production and resulted in weaker demand in china jim was talking about getting hit on the supply and the demand side although that original range was above estimates. So how much are we really losing i think that people dont want to hear this. Everyone that i spoke to the chatter is come on, jim, its really bad i disagree in terms of the rest of the world its gotten better part of what i hear, the work i do dont forget, a lot of Service Revenue
Better its very difficult to have an opinion on the market. Tremendous market confusion. I called people the last few days and they said, bob, give me an opinion are we going to have troops in hong kong or not going to have troops in hong kong . Is there going to be progress on the trade talks or not going to be progress on the trade talks just by the end of the year, is the fed going to aggressively cut rates or is the fed not going to aggressively cut rates . And most importantly, bob, can you tell us if the Global Economy will stabilize by the end of the year or not stabilize . This is a lot to model for aflt lot of these growth ml that people have, bond yields are one of the most important components its a difficult situation the one thing that makes me a little optimistic is the bull argument, bob, separate the manufacturing economy from the consumer economy and today we had reports from two of the Big Consumer Companies in the world walmart and alibaba. The big u. S. Consumer com
S p is now down 2. 25 the nasdaq is off by 40 points that happened after news that we heard from beijing that well tell you about in a moment Interest Rates are a huge part of the market story. Yesterday we saw the inversion of the twoyear and the tenyear yield. So shortterm bonds are paying more than longterm bonds. Historically this is considered a recession warning sign check this out the 30year bond this morning is now yielding below 2 . This is the first time in history weve seen the 30year below 2 1. 99 . Tenyear is yielding 1. 557 . The twoyear is yielding 1. 54 lets look at what happened in markets overnight in asia. Things got a slower start there. The nikkei was down out of the gate it ended down by 1. 2 . In china, stocks are stronger. Shanghai is up by a quarter percent. The hang seng up by three quarters of a percent. In europe, there is active trading taking place, you are seeing some red arrows across the board. The biggest decliner of the three major averages would be t
Lets see how things did overnight in asia. Asia was leading the declines yesterday. This time a little different story. Nikkei closed up by 1. 5 hang seng was up by 0. 6 shanghai was flat. In europe, at least at this early trading hour, there are green arrows across the board. Barely hanging on for the ftse the dax and cac each up by better than 0. 6 looking at crude oil prices, at least right now, crude oil looks like its down 7 cents 55. 26. Couple big stories were watching, mattel has rejected a takeover approach from rival hasbro reuters reporting that mattel believes the offer undervalues the company and doesnt take into account the potential for regulators to rejected the deal on antitrust grounds reports saying mattels new ceo who took over in february may be trying to drive a harder bargain in talks with hasbro the company cut its fullyear revenue outlook. You are looking at both of those stocks now time inc is reportedly restarting talks to sell itself to publisher and broadca