Valued here, and maybe upside of 35, 36, but they took a hatchet to the earnings estimates to which they took a hatchet to earlier, so right now, you are seeing the slow death knell of the spiral of the Department Stores as there are so many alternative avenues, not just are from the shopping, and amazon is a big killer, but also from the entertainment, and they wont go away forever, but they have to shrink massive ly, and shrink the Square Footage. And Terry Lundgren has given up on the consumer spending, and fifth straight quarter of a sales drop. What can turn it around . Well, they have to see how the off brand is going the work for them, and it is working for others out there, and we know about the basically the tj maxxs of the world, and they are starting to the push, but, scott, to your point, they have to figure out something. They have to figure out talking about the store closings which is some of that, and that is affecting the revenue numbers quite frankly, but the samestor
The dow and s p 500 retreating from records yesterday. Group in the best in s p 500 after a 3. 5 move wti. Joe energy the best performer. Telecom and materials laggards today. I want to talk about nordstroms. There has been doom and gloom around retailers. This morning, a disappointing piece of retail sales of data. However, look at what has happened to nordstroms. This is on the back of a betterthanexpected secondquarter report, reporting . 67, . 10 better than analyst anticipated. Nordstroms has been able to reverse some leakage to places like amazon by stocking its rack with more attractive merchandise. They held this big promotional event, anniversary day. We should look at the major health insurers. These stocks have taken a beating since before the doj announced it would block mergers between anthem and cigna. Have recovered a bit today. Indication that they might the willing to make concessions to allow consolidation happened. Joe on the government on front, yields lower. Policy
John fort made his way back from San Francisco and striking a some what hawkish tone today saying it strengthened in recent months and Sean Matthews joins us to help us react to some of this. Thanks for being with us. Good morning. For being quote unquote hawkish why is the market up. When you look at her statement its shortterm hawkish but longterm still very dovish in a lot of ways and data depen debit which means the market feels comfortable that well be at low Interest Rates for an extended period of time. Meanwhile you have oil in a bullish pattern today. Gold up 12. At what point do we take price action as a real barometer of reaction to the speech itself. Its still an august day so the reaction is some what muted and well severe the next 30 or 60 days what happens and i still think that everyone feels kfr comfortable which is why you buy financial assets. They look really strong. To a certain extent the feds job is to make sure that they telegraph a rate hike so there isnt a sta
The city of San Francisco sfgov tv meeting of the rules committee occurring thursday, september 8, 2016 we will begin shortly. [gavel] hello good morning everyone and welcome to our exciting rules Committee Meeting of thursday, september 8, 2016. Im Grady Katie Tang chairman of the committee and to my left is cohen. Mar will be joining us shortly. From sfgov tv would like to thank charles kremenak. We have any announcements speed tends thank you. Thanks. Please sounds all cell phones [reading ordinance] at this time i think oregon about skip over item 1. If we can go on to item 2 item number two, [reading ordinance] so, this is one of the i guess routine appointments to the reentry counsel and am happy to support supervisor avalos on the. See no other questions or comments on open item number two to Public Comment. Seeing none, Public Comment is closed. [gavel] we will do that without objection [gavel] lets call item 35 together item 35 [reading ordinance] great, thank you. So, at this
Markets close in about two hours. Lets check on where things stand. It is the end of the month, final trading day of the quarter. To dow is up 190 points finish friday close to where we began september. It is the same for the s p 500. That brings us right around to the beginning of the month. Day,asdaq having a nice. 9 higher. There is speculation of deals. To go through some of the individual sectors, the banking index and major banks is what we have been concentrating on most of the day. Deutsche bank has rallied up 15 . At one point, we saw a down 9 in german trading. This is on speculation the department of justice may fine Deutsche Bank like . 4 billion. Citigroup rallying and bank of america. Next is notbanks include Deutsche Bank but there is a followon effect. Lets move on to other movers making highs today. Amazon. Com up 1 . Qualcomm up 1. 9 . Check on the bloomberg first word news. David mark . Mark Hillary Clinton wants to enlist 5 million millennials in the National Servic