Sales happening. Now with this new number, this is where we stand this is where we stood. About new number, 650,000, you can see that has not been hit since the Third Quarter of 2007. They gangbusters number in terms of new home sales. A pop in terms of percentage, 12. 4 . Out as that develops and how that affects the markets. Meantime, lets see how the markets are doing in terms of our majors. The dow and s p and nasdaq are up on the order of about half a percent. For today, investors are a little doubtful on whether a rate rise will happen, so they are pushing back into equities. Stanley fischer on sunday may on thewkish comments u. S. Economy. Take a look at this other chart i have. Generally speaking, we are in the dog days of summer, but along with fed speak on rates, we have some investor hesitation. Basically what you are seeing is the s p has had absolutely no one present moves to the upside or downside in the past 31 days. Investor doubt that any rate hike will happen in the n
Betty and we will hear from the jcpenney ceo. Find out how hes been able to turn around the retailer even as sales remain sluggish. We are about one hour away from the close of trade. Stocks are lower after the doj decides not to move on Interest Rates. Ramy inocencio has the latest on the markets. Highswe are at session but we are still in the red for the day with just about an hour left in trade. Second is down for its day in a row and this is its first backtoback loss for this entire month. And the dow has been flirting with a little positivity. We will call that flat right there. To, talkedalluded about retail sales coming in worse than expected, down by. 1 . Definitely weighing on stocks. Lets take a look at whats happening with the dow in today. Although we are still down, we are not as down as we were earlier. In the numbers were down, we 17 and 120 mark are, down around the flat line. Definitely trading in a very narrow band. But that said, there are some major movers today. Le
And the numbers at the center of that debate. And really surprising numbers, at that. Yeah. Bigtime downward revision to the tracking forecast for gdp. We call it the cnbc rapid update. We have the street come in, create a median. It is down 0. 5 . Were now down below 1 . This is a number above 2 . The story we have been looking for a bounce back after that weak Fourth Quarter number, which, by the way revised up. Still looking of north of 2 . Now down to 0. 9. Bigtime revisions. Atlanta fed down 0. 8. So lopping off almost a full percentage point, scott. Auto com all comes from the jany revised down sharply. February, nothing to write home about. This is the area, stephanie, of the economy that people had high hopes for. You know, on numerous occasions. Have cited the strength in the consumer for the reason why youve bought certain stocks. The consumer is very important. 70 of the u. S. Economy. Certainly very important to keep an eye on what these numbers are showing. I think its ver
Well as the isn services index. Market desk where julie hyman has all these. Julie we recently got disappointing news on the manufacturing, but disappointing on the nonmanufacturing front as well. Service industries expanding at the slowest pace in six months. We saw the biggest month over reading ofase, a 55. 9 for the month, that is worse than estimated in october. Again, thats isn noninfection composite, 55 point point 50 59, 58 is what economists had estimated. Factory orders, excluding transportation in line with estimates, a gain of 2 10 of 1 , then good orders, this is the final reading. We have to limit our numbers and it looks like a reading of 2. 9 , an increase of 29 next there, up half of 1 and we have a capital goods orders numbers as well if you exclude aircraft, you get a decline of nondefense if you exclude nondefense as well, you get a decline of a half of 1 . The number that stands out is that Services Number coming in worse than estimated. Below0 making expectation.
Half hours time. It looks like investors do not anything germanic ahead of that on a macro basis because the s p and dow slightly lower. The nasdaq slightly higher here today. Gross closer to resuming and surpassing its record high. Take a look at my bloomberg terminal. I the intraday moves going back to six months. The record high was reached back in july, july 20 to be exact. We are 1 below that level. Indo see a rally for stocks december. We could see not only the nasdaq but other averages once again surpassed those records. Today, yahoo ogy is in focus. The wall street journal reporter that the company was considering a sale of its main core internet business, leaving olli alibaba states. Qualcomm is an outperform after coming to an agreement with xiaomi. It is a 3g and 4g patent agreement that will allow for royalty fees. This is important because qualcomm had said last month that it was maybe having issues with negotiating those speeds with its chinese customers. You can see the