Im wilfred frost. A ton of news this morning. Earnings reports. Market movers. Political power plays and dont forget the fed decision this afternoon. Weve got it all covered for. If you went to bed early last night, donald trump declared himself the presumptive gop nominee. Listen. I use the analogy of the boxer, you know, when the boxer knocks out the other boxer you dont have to wait around for a decision. So that is what it is. That is what happened tonight. And that is what happened last week in new york and thats really what happened throughout. On the democratic side, Hillary Clinton beating Bernie Sanders in pennsylvania, maryland and connecticut. Sanders did win rhode island. He did give a speech yesterday and said he is sticking in and. Doing that to maintain the dialogue going forward. That coming up. The big market story, apple shares down sharply right now. Earnings and revenues falling short. The tech giant posting its first year over year Quarterly Sales drop in 13 years.
System cancelling classes after receiving what it called a credible threat to students safety. The threat was received in an email message. It was broadly targeted at many schools. Not just one or two locations. L. A. School police chief speaking at a News Conference today explained where the School District took this action. In an abundance of caution as superintendent cortinaz has indicated, we have chosen to close our schools today until we can be absolutely sure that our campuses are safe. Now, police and School Officials plan to search schools and continue to evaluate the threat. The school has more than 640,000 students. Were talking about 900 schools that cover some 720 square miles. It is the second largest School District in the nation. Parents have been asked to keep their children at home or to get them if theyve already left school, and this is an ongoing situation. Of course, were going to continue to follow this and bring you the latest. Hanks so much, sharon eperson, wit
Would have called them in the 70s, we would, one, the first thing we would do is simply let things go without addressing them, but we have also plenty of instruments to do that, to drain this liquidity. Mario, first of all, thank you for a terrific speech which really does clarify to an american audience some of the thoughts that went into your decisions of yesterday. Id like to ask you to elaborate on a theme you touched on and youve discussed in many speeches previously, and that is the structural reforms. It seems to me one of the difficulties that markets tend to have these days is an over reliance on what Central Banks do or what they expect them to do. With very little emphasis on what governments are not doing that they should be doing in order to deal with these structural problems, the unemployment problem obviously is one. Improving the competitive environment which is, of course, a big eu issue. I wonder if you could take a few moments and comment to a greater extent on some
Into the close here. The action really occurred overnight. 9 00 we got word about Nuclear Tests by the North Koreans, and we also got word that china said its currency fix lower. I think that was a major factor. Modest expansion and new lows. Almost 200 at the nyse. Havent seen that in a while. The autonation ceo talking about the dealership. Thats a new low for autonation. The carmakers are being affected by that announcement as well. Whats holding up . This is looking a like 2015. Those old consumer names that did so well, the rentals and the conagras and the tysons and dr. Pepper, theyre the ones, again, fractionally on the positive side. Gold subpoena, and i do want to point out that while the Spider Gold Trust is on a fiveyear decline, the volume is fairly heavy today. Much heavier than normal. Twice the normal volume. Even though it may not be moving that much, guys, the volume interest is very high. All right, bob. Thank you very much. Bob pasani on the floor. More on north kore
Earnings season. Alcoa the First Company out of the gate with mixed results. Specifics in just a minute. But the broader moment set up here perhaps more nerve racking to markets. Thompson reuters predicting the s p 500 profits will contract 4. 4 in the Fourth Quarter. That would mark the Second Straight Quarter of negative Earnings Growth and the fourth straight time Profit Growth declines from the prior period. Ill be watching for any sign of Revenue Growth which is also set to contract this season and of course the outlook is going to be key. What Corporate America has to say about guidance. Absolutely right although the big market story this morning, an Energy Collapse. Prices, lets have a look at them as were trading right now. Wti down a further percent. Brent down about. 3 and both hovering around the 31 level. Overnight a couple of opec members requested an emergency meeting due to the current market conditions. Meantime managed short positions in wti are at a record high. This