President s report that he said in a memo to comey to let flynn go. And the fbi director reportedly kept a paper trail that said the president asked him to end the probe into flynn. It hasnt happened so far, but will trumps troubles crack this market . The u. S. Markets are pointing to a large decline at the open. Shares of target jumping in the premarket. The retailer blowing past some earnings expectations. Our top story of the morning is trump versus comey. Now confirmed by nbc news a memo by fired fbi director comey claiming that the president urged him to drop the investigation into former National Security adviser michael flynn. Lets get to eamon javers who is outside the white house with the very latest. Hey, eamon. Good morning. Marine one has landed on the south lawn to take the president away. Hes leaving to go to the Coast Guard Academy where hell give the commencement address later today and that will give aides a respite of the intense news flow, starting at about 5 00 las
Tweet me jimcramer. I dont know about you, but it feels better, doesnt it . Is it actually better . Pretty good consolidation following yesterdays big run. Dow inched up, nasdaq climbed. Thats why we have our checklist, the one i created back in midjanuary when it was ugly to help determine if this market has what it needs to give us a sustainable rally. Not a tradable one but a sustainable one. We said the fed has to give us clarity about where it stands on rate hike and the last week weve had two, the new york fed downgraded their views of the economy will be cautious about the rushing to rate hike judgment. As long as we dont get a smoking hot employment number on friday. This is good enough for government work. You know what im doing . Im checking it off. Two, we need some resolution to the political uncertainty. List, we had no certainty in either party. After last night, barring some extreme, its hillary versus the donald. Now we can create portfolios for either eventuality. Mayb
We expect aggressive stimulus. Meanwhile, the decline in the shanghai stock market hasnt hurt our markets. Thats a big change. Ill call it a half check. Thats why we have half checks. Maybe it can be a full check on monday if the parliament does the right thing. Fourth, do we have a commodity bottom . Copper is breaking out. Im feeling more confident this group may be going down. Not necessarily from increased demand which is what we like but from reduced supply so what were going to do is give it a check mark. Box number five, oil needs to stop going down. The relentless slide must end. Hmm. We had a big inventory increase today and it didnt get hammered, it went higher. New pattern. It looks like oil stocks have stabilized. Im feeling good crude may have bottom. I dont expect a big rally the market but the down side seems to be quantified so i am saying check. Six, we need to see some improvement in the geopolitical scene. Here we have a definitive check. North korea started this, no
As long as we dont get a smoking hot employment number on friday. This is good enough for government work. You know what im doing . Im checking it off. Two, we need some resolution to the political uncertainty. The last time we went down the list, we had no certainty in either party. After last night, barring some extreme, its hillary versus the donald. Now we can create portfolios for either eventuality. Maybe ensuring our portfolio for some of them. I say check third, we need china to get better. Its gotten worse but the frame index has been creeping up slowly and theres be a big Chinese Parliament meeting where we expect aggressive stimulus. Meanwhile, the decline in the shanghai stock market hasnt hurt our markets. Thats a big change. Ill call it a half check. Thats why we have half checks. Maybe it can be a full check on monday if the parliament does the right thing. Bottom . Copper is breaking out. Im feeling more confident this group may be going down. Not necessarily from incre
Low, but biggest since 1999. Amazing what booms are doing. Modest jump in europe. Road map begins with macys missing by 6 cents, and the ceo is optimistic about the futures saying customers are not. The full year profits lower than last year, well tell you why. King digital shares down in the premarket and earnings match spoiled by some lower revenue and guidance. And amazon quietly taking on paypal and square with the credit card reader for instore purchases. All right. Signs consumers are tightening their belts. Sales come in below expectationexpectation, and macys has orders of 80 cents a share, a miss, and retearer reduced full year comp Sales Guidance because growth in q2 failed to make up for the short fall in q2. They see comps 2 to 3 versus 4 for this quarter, jim, and any customers still not comfortable about spending more in an uncertain economic environment. Before we are negative on macys, the Conference Call has been pied piper like. The ceo called people back. I want to t