You are going to extend the deadline and the individual mandate is dead. Quietly, without any fanfare, people question whether the white house willhe abandon the mandate with obamacare at the heart of it. Good i evening, everyone. Im larry kudlow. This is the kudlow report. Were live here at 7 00 p. M. Eastern and 4 00 p. M. In the west. The stock market suffered pretty big losses, especially from the Russian Military on the Ukraine Border and unexpectedly low numbers from china. Lets bring in dominic chu to explain all of that. The lastn time we saw a mart selloff to this degree was back on february 3rd when stocks drop because weaker china numbers came out and u. S. Manufacturing data wasng weaker than expected. All told, the dow drops 231 points, nearly a percent and a half. The s p is down over a percet and the nasdaq is down 1. 5 as well. If you take a look at the sectors, where the action was, it was pretty much right across the board. You canar see the cyclical sects like techno
Really make it happen. But quarter after quarter the company has been able to deliver with a surprise when it came to sales for pcs which we know are in decline but perhaps not quite as much decline as wed anticipated particularly on the commercial side on notebooks where they choed real strength. That did help the quarter and on the revenue side, printing went fairly well. They did come ahead on revenues and on profit. One of my favorite notes Morgan Stanley saying they are achieving the impossible keeping expectations low while increasing revenue and cutting costs and investing and so forth and cash as well. Well talk a lot about that with meg in a minute. The futures are up a touch which means the s p could post its first threeweek win streak in three months. Meantime, were keeping our eye on the tenyear yield and overnight in asia the nikkei was almost up 3 as the markets liked the manufacturing data out of the u. S. Yesterday. First up, though, ukraines government said a tentative
Listen up. If you are someone who has one of these cars, you can get these benefits. You do have to ask. Gm recalled 1. 6 million cars for faulty ignitions. 12 deaths have been linked to the defect. The company is facing investigations from the Justice Department and two congressional committees. If you take a look at the stock, the reaction came earlier this week when the news first started getting out and the news about the investigations really ramped up. You can see that stock at this point is at 35. 05. Well have more on this story throughout the show, including updates from phil lebeau. What has been interesting is some of the stories that have risen on usa today and some of the people that profiled these accidents. Who bought a saturn ion . It was a long time ago, but there were a lot of them sold. 1. 6 million ions . 1. 6 million cars being recalled. I dont know how you can say dont put a heavy key ring on your ring with a straight face. Seriously, thats your answer to this . N
Expiration. Bill, the question which well get to in one second is why. So here is where we stand in markets right now. The dow is up 161 points. The s p 500 adding about 18 to 1854. If we hold, there will be a new record closing high. The nasdaq up 40 points above the 4,300 level at this hour, bill. Lets ask that why question you posed. Get to our closing bell exchange. Our round table includes Patti Edwards from u. S. Bank, Quincy Crosby from prudential financial, anthony chen from chase and our own Rick Santelli in the windy city as well. So, patti, why is the market up as much as the dow was up 190 points at the its peak today. Why is the s p near alltime high territory . Were getting through earning season and 75 of the reports have been better than expected. You add to that it looks like weve got a little bit of resolution in the ukraine and the fact that people had been taking money off the table and its time to get back in. I think people are just going where the best deals are
Lay out his turnaround plan for the business. And wpp weak margins. The ceo says he should have done more in emerging markets. They are our most profitable markets now. I think over the coming years well be more aggressive and if theres one thing i regret about the last ten years, its that we didnt go faster. And a split picture for two of the worlds biggest asset managers, pimco owner allianz suffers. Okay, welcome to the thursday edition of Worldwide Exchange, plenty to get through today. Im looking at the Russian Military exercises down at the ukrainian border, 100,000 troops. Posturing, 150,000. Exactly. Well talk about that. Also on todays show qantas lays out plans to cut jobs and grounds some of its fleet after a disappointing set of numbers. Well get the latest from sydney. As weve been saying the russian flag is raised over the crimea Regional Parliament building. Well be in moscow for the latest. And some positive news from retailers stateside, jcpenney swings to a profit in