I am brian sullivan. And we come into the month on a sixmonth win streak for the dow. But thats not how this month is starting. Heres a look at how your money looks right now. The dow down a lot, not a lot 47 points, given what is going on with oil, tyler, it is no surprise that chevron and exxon are two worst performers in the dow. Much more coming up. Oil a big story today, brian, as you point out. Welcome everybody. Im tyler mathisen. Heres what else is happening this hour in your financial world. Crude oil falling below 40 a barrel for the First Time Since april. Oversupply and economic worries continue to pressure crude. Its down more than 20 from junes 2016 highs. And the gaming slump continues in macau. The chinese territory reported its 26th consecutive month of declining gambling revenue in july. The slide has impacted u. S. Companies that operate over in macau, like las vegas sans and wynn resorts. And googles next goal, searching for cures for disease. Googles parent alphabe
Stocks falling right along with the price of crude. Dow is down 160 points. We begin with new questions about the strength of the banks and how much exposure they really have to the continued commodities crush but its one firm in particular today, jp morgan that has investors growing more nervous. Its stock is sliding as jamie dimon holds court with wall street analysts in new york city. Kayla joins us now with more. Oil is hurting jp morgan and other banks faster than we thought. Yeah. They are taking up their estimates for exactly how much it will hurt them. Its worth saying they did sound token optimism on the us. Economy. Ultimately the noise in manufacturing and corporate end earnings will get sorted out. Jp morgans Energy Exposure they layed it out pretty specifically. 25 billion for investment grade. Only about a fifth of that has been drawn down. High yield 19 billion. Its the high yield portion that is what investors have been worried about. Those are the lower quality borrowe
A flurry of retail results. Some good, some bad. I wonder if restoration or maybe its devastation hardware. Its brutal and they blame the market. Maybe thats the final proof that the high end customer has rolled over. Has pulled back at least. I dont know necessarily were talking about rolled over but theyre blaming the market and theyre talking about volatility and all the things going out on the markets each and every day and i they when you go through the retail environment its good to see howell home depot did and tjx did also. When you look at the names doing well they have some form of exposure to the housing world and where the spending is going on and maybe other names. Macys surprised us sitting here on the desk. Expectations have been so low. They could have gotten over that bar. But they did. That was the real key. Thats why that stock reacted the way it was. They have been punished and pricing in a lot of the negativity. Youre helping me make my point though steve. Restorat
The dax is up. Its up by about a quarter percentage point. If you want to check out crude oil prices today, yesterday giving back some ground. Relatively flat right now. Down by about 4 cents for wti. Dropping slightly this morning as major producers down play the chances of an output these at this weekends meeting. Separately, the International Energy Agency Cutting its estimates for Global Demand growth in 2016. And it is another busy day for Economic Data and earnings reports. Were going to have weekly jobless claim at 8 30 eastern time. Expect it to hold steady. Filings have been 300,000 for about 58 straight weeks now. Also at 8 30, were going to get the march Consumer Price index, headline cpi expected to tick up about 0. 2 following a decline in february. Now, atlanta fed president Dennis Lockhart is also speaking today. Were going to have to wait to see what hes got to say about all this. Also, for earnings, look for results from bank of america, blackrock, wells fargo, Delta A
Theyre worth. Ill have all the sport including the latest from the u. S. Open. Well hear from the runner who took on the challenge of crossing an entire continent. Local governments in europe struggling to keep up with the influx of refugees in the region. For many people crossing so the continent, their point of arriving is lesbos. We have a report from there to tell us what they face when they arrive. The first thing is they are extremely happy they finally made it. Im on the northeast coast of the island. 15 minutes ago, we saw a group of young syrians, all cousins from damascus who just touched land. You probably cant see them anymore, but they are just walking there. We saw that there are about another five boats that are making their way here. Each one of them carries at least 30 to 40 people, so just in this small stretch of coast here in the span of less than an hour, 500 new refugees. We are told by the people here also further down along the coast, earlier, there were seven o