Down about 118 points, nasdaq opening down about 117 points. S p 500 off by 16 points right now. Take a look at treasury yields. The 10year at. 93. The 2year at 2. 863. And crypto prices. Weve been talking about crypto quite a bit these days. Up about 4 this morning. Its crazy. And take a look at ether etf. Thats surging too meantime apple is canceling its electric vehicle product. That thats accordinging to those that know. Many employees will be shifted to the Artificial Intelligence division. Apples ceo apple and ceo tim cook have never acknowledged the electric car publicly but referred to working on e autonomous systems. Theyve never been open about this but are now scrapping it. People are looking at it as a major failure. I dont look at it that way. I think what was happening is there was an internal battle inside apple whether to even go this route and i think tim cook was always on the fence. You mean a failure for evs, not just apple. I think the failure of evs right now has
Good morning warm welcome to Worldwide Exchange on cnbc. Im wilfred frost. Lets check in on the Global Markets. Futures pointing slightly lower as we look at things down a couple points 0. 6 points for the dow the nasdaq down 5 points it comes off a day of big gains. Up 1. 25 for the dow yesterday the nasdaq was up over a percent as well. The s p up just less than 1 lets look at in terms of where were going next coming up is the bond market nope bond market next tenyear treasury note coming up a yield of 2. 55 this morning. 2. 6 , we have crossed over that important milestone on the tenyear treasury note amazing to see the fiveyear is around 2. 4 that level we took so long to get past on the tenyear we got data out of china Fourth Quarter gdp at 6. 8 slightly above the 6. 7 consensus. That leads the full 2017 growth rite at 6. 9 retail sales were softer japan is lower the other markets are higher european trade, down about a half percent for the week as a whole. Coming in to a mixed se
The dow now down 4 . Nasdaq giving up 181 points. We have full team coverage. Bob pisani clocking the action at the stock exchange. Bertha coombs at the nasdaq and Jackie Deangelis at the nymex. Lets start with bob. Apple helping to turn things around. Emwas typical. The big plunge and recovery we saw all within 15 minutes. Apple opening down from thursdays lows. Recovering and testing it around 9 45. Let me show you intraday full screen of what the day looked like for apple. It doesnt do justice looking at the chart. Close was 105. 76 friday. Within less than a minute we went to 92. Down 13. At 9 45, the whole thing turned around. Ten minutes later, apple up at 102. By noon after the 11 30 close in europe, it was up 108. These are large moves. Its hard to describe how weird today is. We have two new highs at the new york stock exchange. 1239 new lows. Those are very weird numbers. We have 160 stocks advancing. We have roughly 3,000 declining. You get an idea. You dont see these number
114. 8 versus the expectations of 113. 9 so slightly higher. Looking also at expectations in 102. 2 for the month of august. Thats in line for expectations and sil to what we saw in month of july. The greek crisis and political impact in germany at this point doesnt seem to have had a big impact on german business sentiment. Expectations for july at 102. 3. Lets get more on this. Joining us on the phone. A pleasure to have you on the show today. Will german business have to look elsewhere if china continues to weaken . That seems to be one of the Big Questions when i speak to economists. At the moment theyre still in a relatively good state. This month particularly in the improvement Retail Sector has improved, construction sector but all the manufacturing is relatively strong. The German Economy remains a rock in turbulent waters. How strong can it be with weakness out of china but also the strengthening euro which can hurt many of the exporters in germany. Well, the expectations decl
A massive loss and that stork is do sto down almost a percent. Phil lebeau is gearing up for the tesla call which starts in 30 minutes and well check in with him a little bit later and we have David Garrity manning the red phone for the Conference Call. Well hear his instant reaction later. First, we cake it off with Julia Boorstin who just spoke with Sheryl Sandberg moments ago. I just got off the phone with Sheryl Sandberg and we spoke after the earnings crossed and she wanted to talk about what drove the costs to better than expected revenue and earnings. The brands are moving to facebook and mobile. Advertisers are moving dollars over to reach them. Heres what she said about growth outside of facebooks core app. Instagram is a growing part of our business. We have now 8 million business profiles on instagram that are Small Businesses and were seeing a lot of usage and we are casting ads and stories. Messenger is really in a much earlier stage and something that we are really focuse