Year not beating estimates. David it looks like their stock is down in the premarket about 2. 5 . Home depot before you so rudely interrupted me alix david is funny today. David not very funny. Per depot beat earnings share, a little light on revenue. They basically blamed a lot on lumber disinflation, basically. They are warning a lot about china. One is how they want to eat up the lumber costs, a 21 drop in the cost of lumber. At the same time, you have continued slowing homebuilding, but theres a lag for that. Home depot not necessarily feeling the full effect of that could weakness. Because of the price of lumber, overall sales are down. They took it down for the year. There estimates went down. Ls, theykoh reaffirmed their adjusted Earnings Guidance on that comp sales mess. We will dig into retail more over the next couple of hours. The equity markets looking a little bit soggy here, with s p Futures Party much flat. Dow jones off by about five. It doesnt feel like theres a lot of
Control these assets. We will dig into the implications for netflix because they potentially stand to lose possibly the most if fox and disney pull together and emphasize hulu, their direct competitor to netflix. Alix Lisa Abramowicz is joining me, by the way. Fox. Y will be buying the deal looks to be about 52. 4 billion. Disney will assume 13. 7 a foxs debt. This also means that disney will by foxs 39 ownership of sky and bob iger will remain ceo through 2021. A look at whats happening to the stoxx premarket. Disney up 4 10 of 1 . The news was widely expected. Take a look at fox to see what shares are doing. By about a few percentage points. Fromt to get more reaction gita. What is your initial reaction to the deal . This has been in the works for about a month or so. All of these rumors and news reports. Disney instrumental for for its streaming strategy. Gives them a lot of heft in the marketplace. A lot of ammunition in terms of a deep library of content. Increases negotiating lev
It is a broadly weaker dollar story but it is by stocks, sell bonds. Yields move higher by two basis points. Crude up by 1 despite the fact that opec again upgrades its not opec supply forecast for 2018. Checking in your safety traits, you get a feel for the market is. Dollar lower. That is one of the changes. You wind up having a selloff over europe. The vix a little study. David it is time for the morning brief. At 8 00, the white house is going to be releasing an intersection plan. At 11 30, the administration will post its budget blueprint online. 240 billion for sixmonth bill. First of all, markets, are they stabilizing . The inflation fears. Are they justified . We are going to get a hint when we get the cpi numbers. Its a straight spike. Interest rate spike. A warning on the Interest Rates. Abramovitz, just a look at positioning in the market. Come inside the bloomberg. S p net positions. You are looking at the vix. You can see the stock reversal. We start with a record high and