Prompted money guys to were in his camp. Neil the dow up 250 points. Edward lawrence what might be the fierce of all this an extended trade war. Reporter the president in almost a News Conference before he left, uploaded some very critical thoughts about a trade deal with china. Listen. Were talking with china. Were not ready to make a deal. Well see what happens. Weve been hurt by china for 25, 30 years, nobody has done anything about it. We have no choice but to do what were doing. Reporter the president upping the ante and pressure on the chinese economy. He says no u. S. Cop will do business with huawei. That will halt of process of 35 Companies Going through for a special license to sell to huawei. The u. S. Labeled china a currency manipulator. The yuan hovering seven to one with the dollar lessening impact on tariffs. The president doesnt want to artificially weaken the dollar but believes he needs more help from the Federal Reserve. We have virtually no inflation in our country
The first trillion dollar company, the details on jeff bezos power lunch. Welcome, everybody im brian sullivans better looking twin brother lets look at the markets. The dow, s p and nasdaq hitting record highs again today telecon and Consumer Discretionary are the best performing sectors not a lot but enough, the nasdaq and the s p may be down a bit right now but hitting lord highs, verizon, merck, boeing, disney are your dow leaders. Boeings move comes on the back of 10 gain yesterday. On the flip side, the transports are having their worst day in over a month 5 below their record high get this, just breaking a few minutes ago, adp shares, they probably make your payroll checks, soaring on news that bill Ackmans Pershing Square is building a stake in the company. Im Michelle Carusocabrera its the busiest names of the earnings season. Check out the names, verizon, u. P. S. , adp, mastercard, twit to name a few lr then the afterthebell biggies, and this is a biggie, amazon, starbucks a
Scary forecasts that so many people told us to beware of . Have the analysts changed their tune, or is the rough stuff still to happen . Archrivals, Goldman Sachs making a pretty bold call picking a favorite between gm and ford and then, of course, theres coke and pepsi. Where should you put your money . Were going to talk about that coming up. And mcdonalds is getting a brand new address, but wait until you see who is going to be behind the counter. Tyler is out today. Michelle is at the nyse, and well get downtown to her in just a couple of minutes but first the bull run in housing. Another big number today. This time its the home Builder Sentiment figure. This year kb homes is up 20 year to date. Ryland up 10 and d. R. Norton up 9 . Diana olick live in washington with more details on that. Hi, diana. Reporter yeah, sue, what about the rising Mortgage Rates . I guess the Home Builders dont care so much but skeptics tell me they will. The sentiment numbers first. Home Builder Sentimen
The nasdaq pulling back from yesterdays 13year high, down 9 points at 3,598 on the nasdaq. The market pulling back from the record highs ahead of the Federal Reserve chairman Ben Bernankes congressional testimony tomorrow. Thats what well all be focused on. Bob has been covering the Market Action all day. I guess it cant go up every day, right, bob . No, thats right. The important thing is, record high, a modest decline. I think thats important, given the caution weve heard. Look at the Dow Jones Industrials average. A fairly narrow range. Esther george, head of the kansas city fed, came out in the middle of the day talking about tapering sooner rather than later, but a wellknown hawk on this issue. It didnt move markets that much. Maybe 30 points on the Dow Jones Industrials average. We ended just slightly to the downside. Theres the dow. Other things here. Weakness on earnings. Four sectors that mattered today. First, the fertilizers. Mosaic came out. Prices for fertilizer were down,
By cocacola and throw in goldmans strong quarter, and j j and a lot to talk about, and the yields are hovering at 2. 5 for 10years as we wait for bernanke on the hill tomorrow. And we are looking at the biggest loser on the dow today which could be coke. The Company Blames weather and other things, with and we will talk about it. And the shares of the dow component johnson and johnson are up after strong pharmaceutical sales helped to push the companys profits above expectations. And goldman Strong Revenue trading, but how does that compare to competitors like jpmorgan and citi. And the alpha conference kicks off tomorrow. We will give you a preview of what to watch for. And once again, with coke, the shares are down in the premarket and take out the items in the Second Quarter earnings and in line with the case volume down below forecast, and this is what coke cfo had to say this morning on squawk. It was disappointing in the quarter for volume and we said all along along the road a b