Good morning i am Carl Quintanilla with Morgan Brennan and jon fortt at post nine of the New Yorkstock Exchange were starting with disney in focus as shares surge post earnings Julia Boorstin sat down with bob iger after the call, joins us with more of that important conversation hey, julia reporter well, carl, while disney parks and movie Studio Division continue to outperform, the real focus this quarter is disneys Digital Future with disney plus, the streaming Service Launching tuesday. Without revealing any early subscription numbers for disney plus, bob iger told me he does expect the service to get off to a strong start. It is ready to go i am glad to say we tested it in the netherlands, well talk about that on the call, it was successful. It did not have original content but was well received, not just in terms of number of subscribers but the user reaction to it, very, very and a half navigable, great access to our brands and story telling. He announced new distribution, a deal
Next week getting results from walmart and jcpenney then kicking into high gear barreling toward black friday. Is there a giant moment of truth for the consumer. Everybody says about the healthy of the consumer. Never underestimate the u. S. Consumer want to spend doesnt mean they should be spending they have jobs thats great as long as the stock market goes higher every day whether people have a dollar or not in it they will spend money because they feel the economy is doing better thats the calculus i make with the alltime high in the stock market i think the consumer continues to spend doesnt mean some of the stocks are going higher but the consumer will spend. If you want to play the stocks, i think in the next thursday a name like nordstroms which had great trading ranges over the last couple of years, yes its bounced off the low but you have a huge Short Interest, reasonable valuation and we find ourselves time and time again in in environment these big Short Interest retailers t
Comments and opec slashing its outlook for oil deman as it warns for chat evenings of the Market Worldwide exchange begins right now. Good morning, im dominic chu in for Brian Sullivan today. All three indices in the u. S. Look posed to open with new record highs this morning. You can see those moves are starting to add some gains the dow jones will open by about 62, the s p about 7 and the nasdaq about 27 overall. Movement in the yield side as well a slight tick higher in the 10year note 1. 8 and the twoyear at 1. 60 about 22 basis points separate those two. Looking at asia, it was a positive trade very much green across the screen weve seen the positivity carried there as well. Weve seen the german dax up and the ftse 100 and the spain down by 35. Turning back to the top headline driving markets. China is moving the u. S. To move more tariffs as part of this phase one trade deal the deal is widely expected the u. S. Pledge to nix tariffs on about 156 billion worth of chinese imports.
Good Tuesday Morning i am Carl Quintanilla with Morgan Brennan at post nine of the new york stock exchange. Jon fortt is in los angeles at the adobe max conference his sit down is a few moments away with Shantanu Narayen we start with uber shares down, despite the beat as losses for the quarter top a billion. Guys, good to see you. Dan, how much is this downward trajectory in price driven by model complexity relative to competitors . It is a small piece here, no doubt this is a black eye quarter for dara and uber, missing ridesharing metrics. You combine that with what theyre spending on eats, thats the one, two punch sending the stock down, could be an avalanche with lock up expiration. Do you buy the target of adjusted profitability by 2021 i do. I think it is not as much stretch as it would appear to be you look at the core ride share business, they came out with segment margins this quarter, 22 , a four percentage point improvement from a year ago. If they continue on that pace of
Certain tariffs. Not just a trade deal, but actually removing some of the economi existing tariffs earnings continue to lead us higher just a bit. We have names like kroger and tapestry, the old coach beating expectations joining us for the entire hour is a man you know well, steven weiss from Short Hills Capital partners steven, good to see you down here at the New York Stock Exchange good to see you brian good to see us both heres the thing, earnings, trade, maybe just general positive market sentiment. One of those three or maybe something else, that has been the primary driver for what has been a nice little run we are up nine of the past eleven sessions on the s p 500 i think there are multiple drivers to the market. Trade being the most important and the most dominant. You can see the correlation. For those who say that trade is all in the market, thats clearly not true because when you get positive news coming out, the market ticks up when you get negative news, it goes down. So