Earnings season even as Goldman Sachs warns of a 35 g. D. P. Slump. And jpmorgan is the first u. S. Bank to report. Wells fargo comes next. Dont miss our interview with the c. F. O. Later on today. Those earnings come out before the u. S. Bell this morning. And global coronavirus cases approach the 2 million mark with 119,000 people dead. France extends its lockdown. The u. K. Is expected to follow suit this week. Were just under an hour away from the start of cash equity trading in europe. Lets take a look at futures this morning. We had the u. S. Trade down yesterday. India is doing quite well or did quite well overnight. European futures up more than 1 across the board. Ftse and euro stocks, dak futures this morning. Dax futures this morning. Here h your top stories this morning. President trump says he has total authority to order states to relax social distancing and reopening their economies. A number of u. S. State governors say they will form regional alliances to coordinate th
We begin with gift returns. Traditionally if a store cant resell it, returned items are tossed out or sold to liquatidors at a loss, but retailers are changing the way they are handling returns. Court any reagan has this weeks cover story, exchange rate. Reporter americans returned 260 billion in merchandise to retailers last year, or 8 of total purchases. Even higher around the holiday season. Accordin tgo gartner research, less than half is resold leaving retailers booking big losses, in some cases as much as 10 of total sales. Add in the surge of Online Shopping and the problem gets even bigger. Return rates from online sales can be 30 or more, and that has research from gartner warning retailers the old way of dealing with returns is a ticking time bomb. Retailers are not very good at managing returns right now, and so unless they invest in their ability to manage returns, the volume of returns coming back will cause problems in their overall supply chain. Reporter best buy is one
Traditionally if a store cant resell it, returned items are tossed out or sold to liquidators at a loss, but retailers are changing the way they are handling returns. Court any reagan has this weeks cover story, exchange rate. Reporter americans returned 260 billion in merchandise to retailers last year, or 8 of total purchases. Even higher around the holiday season. According to gartner research, less than half is resold leaving retailers booking big losses, in some cases as much as 10 of total sales. Add in the surge of Online Shopping and the problem gets even bigger. Return rates from online sales can be 30 or more, and that has research from gartner warning retailers the old way of dealing with returns is a ticking time bomb. Retailers are not very good at managing returns right now, and so unless they invest in their ability to manage returns, the volume back will cause problems in their overall supply chain. Reporter best buy is one retailer working on ways to recoup losses asso
I know we have a race some losses by it is impressive given the volatility we saw with those fed minutes. 5 im glad you bring those up. It is which that fared the worst this week. Telecoms andities, Consumer Staples declining by 2 or more. You can see utilities are the worst performers of the bunch. If the fed is going to start raising rates earlier, that makes them less appealing. Picturear the bigger , the record high was set last may 21. Onhave had the fed following february 11. Belowar later we are 3. 5 that alltime closing high. Looked many times it like we would break that record only to be denied again. That is the story, on those hawkish minutes. Here is the chart. You can see were at the higher in of that range as the market gets set for a continuation. You see that jump up in the last few days. That is the defining story of this week. We are still very much range bound. Looking at the dollar, the dollar consolidating its recent gains. It has advanced for three straight weeks.
Percent and the dow is up little higher and the nasdaq is up by 1 . Question was whether traders would see a selloff before the president s day to day weekend but we are Holding Onto Gains as we go into the holiday weekend. Lets look at sector performance. You can see for the most part its a broadbased rally. The s p 500 10 sectors are in the green but utilities are down a little. Financials are the biggest leader up by 3. 25 and they were the biggest laggard yesterday. 2. 4 ials are up by 25 and energy is up. Some of the financial stocks are in rally mode. Bank of america and citigroup yesterday fell 6. 5 . They are now up by 5 . Is up 7 off of that news as well as wells fargo. Lets take a look at energy. With energy, crude oil is up 10 at 6 . It had been up about 11 but we are now up near the 29 per barrel mark, near session highs. This is the biggest jump since january. Yesterday, it fell to the lowest hint of days. At equity struck a dive yesterday. Safe havens are going the other