Today. We start out of with the fed staying put. Jerome powell signaling the rates will stay near zero through 2023 stocks getting an initial pop, but reverse course as the fed share took questions from the press. Steve, what was it, do you think, that spooked the markets . You know, its always hard to know maybe one of those sell the news things there was a bit of history in the statement where the fed for the first time put in the statement that its new goal is to seek inflation above 2 that was in the longterm policy strategy but it had not yet been in the statement. This is the first statement following that change. It was a bit like there was nothing behind it in the sense that, the question that i asked, i said, well, how come your forecasts dont show you hitting the goal, not even in the fouryear horizon here the fed chair didnt really have a good answer for that you would think if you said, you know, im going to move this tanker faster, you know, youd be pushing the throttle do
Nobody wants a second wave. The market starts the week on the upside again. Investors like the get back to work trend and there are several forecasts of imminent recovery for the economy. Secretary mnuchin says there will be a rebound july, august and september. The dow is looking at a 200 point gain first thing this morning. Thats close to 1 . A nice gain for the s p, close to 1 . The nasdaq will be up over a half percentage point. Now, the reason the nasdaq is up, because of this. This week, many Big Tech Companies report their financial position. Strong results expected because the virus lockdown has a more limited effect on these companies. Premarket, most of them are up. But look at oil. No joy for the drillers. They are looking at 12 a barrel and the worldwide glut shows no sign of easing. Over the weekend, the price slump claimed another victim, diamond shamrock. The drillers declared bankruptcy. The price of gas still falling, albeit slowly, about one cent down a day. The avera
By the Options Market is betting on the bounce for one home depot. We start with the big countdown. And no. Which one is that. Hold on its not the countdown until friday its not the countdown until christmas. I hear i hear sleighing bells. They mixed ut santa with the record we are 18 days away from the next round of tariffs kicking in we heard today from two retailers today with two different takes on the looming levies dollar tree tanking after cutting guidance due to what else, tariffs, among other things best buy, though, it soared. Raised the outlook saying the impact of the tariffs has been factored in and dealt with so really with all due respect to dickens it was the best of times. It was the worst of times. Its a tale, guy adami of two retailers. I see what you did there. What story are you buying. Would you rather almost. First of all, i find it welcome. Welcome to breyen welcome to brayen. He is playing hurt tonight if you listen to his voice. Its grim its grim. But youre he
Streaming service. Lets look at futures this morning. Some Economic Data better than expected today thats the picture on fed day. Dow opens higher by 34 s p by 2. 5 nasdaq by 17 road map this morning starts with right there, the futures, pointing to higher open after that stronger than forecast Economic Data. Investors staying cautious ahead of the fed record highs within striking distance again plus, shares of General Electric popping after an earnings beat the company raising its 2019 cash flow forecast and streaming wars at t set to challenge netflix, apple and disney, unveiling details for its upcoming hcupcome upcoming hbo max Service David talks with warner media Ceo John Stankey and thats coming up in the next hour as we said, looking forward to that big interview the markets, the fed, fed day. The data was better than expected this morning. Still confirms were slowing, so the fed will be cutting, right the fed raised too much it is just a fact. Jay powell overdid it. The econom
De dedra bosa, what did we miss they looked particularly ugly next to lyfts yesterday its quarterly loss was its biggest ever, now a large part of that was cost related to its ipo. But ubers also facing ridesharing competition in markets abroad like latin america and india. Competition is even stiffer in food delivery. We saw that play out in this earnings its either business, ceo telling us that it is likely they will keep losing money here for years as, quote, theres a lot of capital chasing a lot of growth. As for the question of overall profitability, this is what really matters most to the street, while lyft was pretty direct on their path last night, saying that last year was, in fact, peak losses for them, ubers ces on was less clear telling us, quote, we think that 2019 will be our peak investment year, and we think that 2020, 2021, youll see losses come down i think our break even is something that we can push the company to break even if we really wanted to frankly, he added,