Shares dropping as much as 6 . What made this company take a turn for the worse the traders are here to break down theout look for in name and a lot of others. Were starting with retailers. That was the story certainly this morning when we were on squawk on the street at the beginning of the trading day, the etf tomahawk tracking the space falling nearly 2 . The worst day in more than a month as retail earnings kick into high gear tonight we bring you good, bad and ugly today. Wow. Sound effects and everything. Retail wreck. Lets start with the gold. Tj maxx bucking the trend closing in the green after a beat on both on the bottom line. But then there was the bad thats home depot. It did get hammered this amp missing revenue expect rations cut the 2019 Sales Forecast but the ugly, that is reserved for kohls, the shares down 19 posting the worst day in more than two years we shall also note we just got results from urban outfitters. You can see it the stock down as much as 14 in the aft
Begin tonight. Retailer started the day at a new high after the Company Reported better tha expected earnings and said the future looks bright. But thats not where the stock ended t day. Shares drifted lower after the open this morning and down fractional by the close. But the lowcost retailer sales are on a fiveyear win streak. A good sign when it comes to the health of the consumer and the econom and the drivers of walmarts business. Here is courtney reagan. Walmart continues to grow sales in the u. S. Thanks largery to the grocery business. S. Omparable sales grew the 21st straight quarter with strong traffic intores and growth online. Digital sales increased 40 . Chief Financial Officer brettgs told me being capturings were strong, the food business and pannedingelivery and pickup optionss driving shoppers to spend. Pickup, all are building grocery Customer Loyalty that continues to drive the positive growth that we see at walmart. Ecommerce was only about 5 of walmar u. S. s total
And then in europe youre going to see equity futures there also to the upside this morning, gains across the board of better than 1 . Its up a third of a percent and stocks in italy up by 1. 5 breaking news happening moments ago, hong kong leader has now announced the official withdrawal of the extradition bill that sparked months of mass protests there its one of five demands including universal suffrage in the citys elections it sparked a late night rally in hong kong with stocks closing higher by nearly 4 youre looking at the stock chart right there. A loif report from hong kong in a couple of minutes. The other big global story is a political Crisis Brewing in the u. K. He joins us to explain the situation to app american audience that isnt necessarily familiar with the parliamentary procedure. This is not for me this is not for me this is for certain individuals that may not understand what is going on there but go slowly just in case i want to pick up a few of the nuisances and w
Heated tone from the u. S. And china. Financials, semis and industrials are all lower and full Team Coverage coming up dom chu is tracking it phil lebeau with details of on headache for boeing. Market down 333. The low of the session 425 down. The dow higher this session down 205 and red throughout the session as you can see sharp selling. Lets bring in Rebecca Patterson with us for the full first hour of the show. Good afternoon whats the spark again for the selling . Last week a nice end to what was obviously a negative month of august. I think what it boils down to is its not about the cost of capital. It is not about the level of Interest Rates, the stimulus it is the confidence to spend so we can make Interest Rates as low as you want but if you dont have companies and households to borrow and take that money and buy something with it, whats the point . Thats the conundrum we saw it in the trade rhetoric today. It is eroding confidence thats driving us right now. Can the fed or Ce
Some scratching their heads. It is thursday, august 1 au starts right now. Sno its a brand new day. Cheryl welcome to fbn a. M. And good morning. I am Cheryl Casone. Lauren good morning, im lauren simonetti. Are you feeling calmer this morning . Cheryl well, a lot of pepto bismol yesterday. Futures are actually moving weve seen this almost every day this week. Youve got a big selloff and the next morning in the futures market you get a boost or vice versa. Right now were seeing green arrows, the dow is up 113, s p up 15 and a quarter and nasdaq up 37 andahalf after that 800 point selloff yesterday. Lauren and what caused the 800 point selloff was when this happened. If you look at the yield on the two and 10 year treasury bonds, they inverted yesterday for the First Time Since 2007. It really spooked investors. Taking a look right now at both spreads, they are very, very narrow. Cheryl were going to take a look at oil. There was a big move in gold yesterday. Oil is still the story. The