Wrong, given there are several members of the board of governors. On airplanes today. Michael mckee is on an airplane today. Jackson hole they will argue about all of that there. It looks like not a lot will change out of jackson hole, but everybody is talking about the future of Monetary Policy. We get the Weekly Mortgage numbers. Up down, up down, up down. The fed releases minutes from the june meeting. Several. Some. [laughter] words, syllables. We will try to glean what they are going to do. We suggest it. We suggest. [laughter] it will be an intellectual exercise for all of us. Fed watchers. Of any come out . Have any come out . 5. 2 billion for the second girders quarter. The other one that has just come out is lowes. The secondbiggest homeimprovement retailer. Profit beat analyst estimates. Forecast isr sales up 4. 5 versus the consensus of 5 . Do they just underperform home depot every quarter . This is the 30th consecutive quarter that home depot sales have exceeded lowes sale
Quarter declined because people assumed health care was going to create a delay. Without further delay, lets go to scarlet on home depot. The earnings just came out, a beat, secondquarter earnings per share of 1. 52. Expectedthan bottomline number. Sales topping estimates as well. Depot confirms its fullyear sales forecast. Adding to its buyback program, overbillion Share Buyback the remainder of this year. He moved to engineer a higher earnings per share number continues. With adam parker joining us in the next hour from Morgan Stanley, use of cash. The pressure to deploy cash. You see that in the bhp billiton restructuring. What are we going to do to distribute cash to shareholders. 838 on the the 16 dow. A distinction between home depot and lowes, the Bloomberg Industries team pointed out sales will likely come in stronger. An estimateds 4. 4 . Home depot doing it more effectively than lows. Medtronic and t tj maxx report earnings as well today. Hasuple items of note it been 10 year
One company will focus on hardware and services and the other are personal it is and printers. The wild weekend. The Virtual Currency plunges to its lowest level in a year. What is behind the fall. A professor who says an elite education is not worth the cost and those goals are creating a generation of religion career zombies. There is one sitting next to me this morning, olivia sterns, and erin wegraduate have a great love show graduate. We have a great show tonight. Bitcoin is follow falling on its own. Time for the newsfeed. The top is stories from around the world. Hotel, andelling a the buyer is a Chinese Insurance Company paying almost 2 billion. Hilton says it will use the money to buy other assets. Agoon bought it 42 years and will continue to manage it and the hotel will undergo a major renovation. A new report underscores the risk of a slowdown in the worlds is largest economy. On especially fell the most since 2009. German Economy Ministry blames the geopolitical risk and a
Speculation chinas government will add stemless after inflation reports. Of estimates below 2 . The price of oil has resumed its slump. It may go lower. West texas intermediate fell below 63 a barrel. Brent crude also down. In official in irans oil minister critics the price could fall as low as 40 a barrel. That is if there is a price war or of divisions emerge among the members of opec. The new Federal Reserve relation may be expensive for jpmorgan. They may need to come up with more than 20 billion in capital to meet the new standard. Jpmorgan is a ready facing the highest capital surcharge under International Rules. The bank might have to delay Dividend Increases and stock buybacks. Jpmorgan says it intends to meet the requirements. And the weather watch, we go out west, Northern Telephone in bracing for one of the biggest storms in years. People putting out sandbags. Up to five inches of rain expected starting today and winds up to 60 most per hour. Another danger, but flyers muds
Before the bell, well be hearing from retailers walmart and kohls. And the bulls are hoping todays earnings and Economic News can give stocks another boost. The dow snapped its threeday winning streak. Out to the futures this morning, youll see at this point there are some strong moves in a positive direct. Dow futures are up about 60 points above fair value. The s p 500 up by eight points, the nasdaq up by almost 20 points. While we were sleeping, asia closed mixed. Take a look at what happened with the nikkei. It was up another 1 . A lot of speculation out there that the Prime Minister shinzo abe may have decided to call an early election. Also thoughts that they would be putting off the planned hike in sales tax. If they put that off, that would be another positive for the economy. Industrial production rose therein than expected last month. Shanghai was down 0. 3 . Retail sales falling slightly below estimates. If you take an early look at whats been happening in europe, some stron