All of that bodes well for walmart which is forecast to report a 4 rise in sales. Results from the Worlds Largest retailer should also offer a glimpse into demand for back to school items. Traders are hoping that, despite higher borrowing costs, it will show that us shoppers are still willing to spend on essentials. Staying with retail, jd. Com beat analysts forecast for Second Quarter revenue which rose more than 7 to nearly 40 billion. The chinese e commerce giants Focus On Lower priced products paid off in the fight for customers amid an economic slowdown. The company said it attracted more vendors to its platform and its users shopped more frequently as It Product Range expanded. It was a different story however for tencent where Earning Results came in below estimates in the Second Quarter. Revenue grew 11 to just over 20 billion. Tencent s core Gaming Business experienced weaker than expected growth. Domestic Gaming Revenue was little changed, a sign that the economic slowdown in
Higher Profit Margins than expected as offered fewer discounts. All that bodes well for walmart which is due to report a 4 rise in sales. Results from the Worlds Largest retailer should also a glimpse into demand for back to school items. Traders are hoping that despite higher borrowing costs, it will show that us shoppers are still willing to spend on essentials. Staying with retail jd. Com Beat Analyst Forecasts for Second Quarter revenue, which rose more than 7 to nearly 40 billion. The chinese e commerce giants Focus On Lower priced products paid off in the fight for customers amid an economic slowdown. The company said it attracted more vendors to its platform, helped by lower thresholds and costs for them to join, and that users shopped more frequently as its Product Range expanded. It was a different story over at tencent where Earnings Results came in below estimates in the Second Quarter. Revenue grew 11 to just over 20 billion. Tencent s core Gaming Business experienced weake
Since april and the first time in 47 sessions where it broke the streak of days where the s p hadnt dropped by 1 first time we have seen a loss like this in a while nasdaq was down 2. 2 that was the worst day since february if you look at treasury yeields, we saw action. The 10year treasury pushing higher the 10year is 4. 41 2year at 4. 19 . Andrew, we talked about the market blowing off the downgrade from fitch in the morning. Yields under pressure which is the opposite through the course of the day, yields did pick up a bit i know you have comments from Warren Buffett in a moment i dont know if this is a number of earnings which were better than expected, but some were weaker you have the report. That brought the expectation to bring more pressure on the fed to raise rates that, to me, is a much better rationale than the fitch report. As you know, my view is not that it is silly. It is important to say aloud the world is a relative place. If you downgrade the United States, you have
Along the hayes valley octavia quarter this year for outdoor fires. This letter went documenting three fires in the same area. These are photos of yet another fire on generally 17th at the same construction site which just burned down. There was a fire that some and started to keep warm under the scaffolding of that very construction site. She says that the supervisor dean preston got the letter and elevated it to different city departments. We have not heard anything since. Its just completely acceptable. The mayor responded to Community Concerns by posting on social media that first we cannot jump to conclusions about the cause of the fire. The mayor then posted second, we are working to address these and but we are under a federal injunction that limits our ability to move tense even when people refuse shelter. She also posted that some people have issues like power splicing causing dangerous conditions. City workers came and will work to prevent these dangerous conditions. When the
Market thats coming up plus earnings showing no sips of slowing down we get much more ahead on the show. And later were going to check the pulse of the consumer. We speak exclusively with the restaurant chain first watch and get his take its wednesday, august 2nd, and youre watching Worldwide Exchange right here on cnbc good morning welcome to Worldwide Exchange. Im frank holland. Lets get you ready to starture day. Were going to kick it off with a check of the u. S. Stock futures. We saw the highest close since february of 2022 as we mentioned following the downgrading by fitch, were seeing the future. The dow would open up more than 200 points lower the nasdaq and s p 1 lower, the nasdaq down more than 1. 25 . All have been losing steam throughout the morning were also checking the market on the heels of that downgrade first, s p futures, we just showed you the chart were going to move to the yields yeeds back above 10 a couple of basis points lower than yesterday as we always mentio