Drama in the Health Care Sector today. That group was the worst performing sector in the s p 500 on growing uncertainty over the republicanled health care bill, as senate gop leaders were looking to nail down final votes on their effort to repeal the Affordable Care act. Unitedhealth was a big drag on the blue chip dow index as a result today. But then just after midday came that statement from senator john mccain that he would vote no on the measure. That followed reports that fellow republican senator Susan Collins is leaning against the bill. And with the chance of passage declining, stocks moved. Health insurers including unitedhealth pared some of their losses and finished mixed. Hospital stocks got a lift by the end of the day. And the Dow Jones Industrial average lost just nine points, well off lows of the session, closing at 22,349. Nasdaq added four. The s p was up one today. And then theres apple. It had a rough day, capping off a rough week, its worst in the last year. The l
Announcer this is nightly Business Report with Tyler Mathisen and sue herera. Retail rout. Macys sales plunge deepens as americans abandon malls. The Company Warns the troubles could get even worse. Leaders meet. Why the u. S. Will not discuss a very thorny economic topic with its biggest trading partners. Doctors and data. Do mammograms contain clues detectable only by computers to help find cancer earlier . Meg terrell reports. Those stories and more tonight on nightly Business Report for thursday, may 11th. Good evening, everybody, and welcome. It looks like the magic is gone at macys. The countrys Largest Department store saw sales fall sharply in the First Quarter and its profits fall even more. As we told you yesterday, the retailer has been struggling for quite some time with declining mall traffic, increased online competition, and a race to the bottom discounts. Investors did not like what they saw, sending shares tumbling to a nearly sixyear low. This was the first Earnings R
How much healthier the Financial System has become, the Federal Reserve gave the biggest u. S. Banks the green light to use their extra capital for stock buy backs and more dividends. Good news for investors looking for extra income. Kayla has more on the final results of the Central Banks socalled stress test. For the First Time Since the financial crisis, the Federal Reserve has not rejected any of the capital plaps submitted by the 34 banks getting stress testing, b finding the companies to be sufficiently capitalized while weathering a recession. Capital one is required to resubmit its plan within six months or risk shareholder payouts getting frozen. It exceeded the threshold, but didnt want adjusted returns before the results were out last thursday. American express did the same as one of its capital levels was below the fed threshold. Senior officials said the rapid growth in credit card balances and uptick in delen quincies that included more severe losses played a role. Am ex
Is in new york. We have an interesting week ahead of us. A lot of talk about governor kuroda and looking at the bank. Tom i look at the green book that comes out from the imf. The Financial Stability issues of the week will be interesting, starting with Deutsche Bank. I was taken aback by Prime Minister mays speech over the weekend. Francine i dont think we learned that much new in terms of brexit. It seems Party Politics will take a bigger role in when you invoke brexit. She doesnt like it being hard or soft. I think it is all or all the same. Lets get to the bloomberg first word news with taylor riggs. Taylor supporters of that peace plan that ended five decades of fighting in columbia. The agreement it would pass easily. The plan called for rebels to give up their weapons and return penalties for any crimes they committed. The president said the ceasefire will stay in effect. Donald trump is resisting pressure to release a information following revelations about his finances. The Ne
Waiting for janet yellen. Its a quiet day on the markets, but watch out for commodities and watch out for dollar. Tom exactly. I was watching commodities today; citigroup was really talking up saudi arabia, having trouble moving oil. Really, the backstory, while you were off on your threeweek vacation, is the idea that the atlanta said lowered their gdp for this quarter under 1 . That is the backdrop, yelling those before the economic public. Francine rate. Right. It seems confusing to understand what the feds next move is. Lets get to the first word news. Vonnie good morning. A jetliner has been hijacked and forced to fly in cyprus. It was on a flight from alexandria to cairo. The Egyptian Government set a hijacker claimed to be wearing an explosives belt. 56 passengers have been allowed off the plane. Several for for flight crew are still on board. Last weeks bombing severely damaged the airports departure holes in. Brussel in brussels. It will only be able to handle 20 of the normal