Sure it helped but we were roaring long before that, thanks in large part to efforts of two brilliant chief executive officers stocks were high dow and nasdaq and much comes to the performance of two stocks, cisco and walmart. Which pleasantly surprised us with their numbers these are both turnaround stories people nothing proves worth of a ceo like executing a turnaround. Doug mcmillon, took over three careers ago and led remarkable revolution at retail giant where 100 Million People shop each week, monster company. First thing he did, drop a bomb. Told us would spend as much as possible to take on amazon, seemed fanciful at the time but said do with service and better paid work force. Understood the weakness was keeping good people. Training new people is dead weight raised price they paid people. At the time viewed as heresy now seen as brilliant. Walmart still run with input of the walton family. They want to win phenomenal 50 online growth this company runs like walmart of old, th
Opec meeting, psych cyber monday today. The benchmark yield around 2. 33. Our road map begins with the holiday return of the consumer black friday sales topped 5 billion. Cyber monday expected to set online records. Retailers are in the spotlight. Futures flat ahead of the first full trading day ahead of thanksgiving. And the Koch Brothers making a big bet on magazines, backing a meredith bid to buy time inc. Adob bee analysts expects consumers to spend 6. 6 billion this cyber monday. That would be up more than 16 from a year ago and bigger number than the 5 billion adobe says was spent online on friday. We talked about colder weather, and lean er inconvenienventorie reports that in store traffic was down maybe a percent, maybe a little more, but not dramatically. Thats a good test of exactly how low expectations had been for basically physical scores. They dont look like they will broadly give back the pop they had on friday. So many things working in the background in favor of having
And the nasdaq tumbled 1. 05 , you need to understand this is a redistribution its not a bet on the future, its a wager that some earnings estimates are going higher while others just stay the same and judging by the intraday reversal, investors are starting to realize that we may be a little too enthusiastic about stocks in general. Even if some do deserve to be higher because of changes that are going to be made to taxes in this country today truly brought a bifurcation in stocks. The action was 100 about tax reform Domestic Companies get a big cut while more internationallyoriented Companies Like most of tech see much less of a benefit sure they can repatriate capital from overseas at a better rate, but the real benefits here are for the purely domestic players. Its Like Congress has waved the magic and with and every cable company, railroad, retailer, restaurant as well as a smattering of industrials that have great u. S. Exposure and that has radically raised earnings for 2018. No
David . David for now whats making headlines, we have kayley here with the first word. Kayley President Trump has set aside longstanding differences with former republican president ial candidate mitch romney. The president endorsed his run for a u. S. Senate seat in utah. Romney has been critical of the president but lens are trying to hold on to their majority in the senate. Meanwhile, President Trump is open to tightening background checks for gun buyers. The white house said the president talked with republican senator john cornyn about his bill to improve compliance with the background checks. The republicans long proposed bills but is finding a way to curb gun violence after last weeks shooting. Teresa mays team has a plan to halt brexit payments in the European Union back slides on a trade deal. According to those familiar with the matter. They believe by holding billions of pounds from the e. U. Could be necessary. Global news 24 hours a day powered by more than 2,700 journalis
Ex Current Campaign chairman Paul Manafort ex trump Campaign Chairman Paul Manafort. Global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. Im alisa parenti. This is bloomberg. Bloomberg technology is next. Emily im emily chang, and this is bloomberg technology. Coming, russian bus take on u. S. Gun control. Rushers in during an expanding Twitter Campaign against america. Plus, walmarts margins hit record lows. The fight with amazon takes a toll. How investors are reacting. An essential goldman for advertisers looking to cash in on the new era of connected cars. First to our lead. Russian bots were caught targeting certain hashtags following last weeks School Shooting in florida. Widenjust one way to divide among the u. S. Electorate on how to handle guncontrol, making compromise even more difficult. This is impacting issues like the nfl in the debate and a 2016 u. S. President ial election and ultimately led to Robert Muellers indictm