Big day for retail. Walmart announcing the best quarter in more than four years. Home depot beating estimates. Kraft drops its 134 billion takeover bid. Irene rosenfeld will join us later. New records. The dow up more than 4 since Inauguration Day. How long can the trump rally last . First up, walmart reporting a better than expected quarterly profit. Revenue just shy of consensus. Online sales up 29. Home depot beat its Quarterly Results. Boost the dividend. Macys posting a revenue miss earlier on squawk today. The ceo addressed speculation the company is up for sale. First of all, youve heard it talked about, rumors of the Company Buying us. Yes. Youve also probably heard the rumors that were buying them. Yeah. So what i can tell you is this, that were going to do the right thing for our shareholders and were not going to be a highly leveraged retailer. Those movies never turn out well, and weve seen that before. A lot to chew on here. A lot of discussion as far as macys goes as far
Possibly for profits for you. First lets check in with sue at the nyse. We are going to start with small caps. Lets look at the russell versus the dow up 5 in six months. And then the nasdaq composite up almost 6 and then the s p up 6. 5 . Morgan brennan is at the nasdaq for more. Hi. Thats right, the dow the s p and the nasdaq are all up this year but not the russell 2000 which includes smaller Cap Companies down about 3 year to date versus the gain of nearly 8 . An 8 increase for the nasdaq, a stark difference there. The russell 2000 dropped 1. 5 yesterday and hit a cross with the 50day moving average falling below the 200 day. That is the first time we have seen that since august 2011 something that could be a bearish sign. Strategists tell me this is part of investors rotation out of the high momentum smaller stocks into the less volatile larger cap blue chips, a defensive shift in light of the likely move to begin raising interest rates. Small caps are much more vulnerable to chan
The markets. That last headline really did hit the markets. That and the russian jitters. Bob, we took a sudden drop down, the headline risk that tyler just delineated. A very interesting day today. We have talso the ukraine situation. Around 11 00, the gnat toe secretary general was in to discuss it. Calling on russia to step back. Thats when the markets started slowly drifting back at 11 00 a. M. Everything is weighing on europe. Its been slowing moving down for a month every single day, practically and its starting to affect us. Driving money out of europe, into the u. S. , looking for a safe haven, our economy is getting better, numbers have been good here, but 2. 44 were looking at the lowest levels since about may of 2013 of the emerging markets are started getting affected. Brazil, china, also are weak, today. Sue, finally, inflation, restaurants with earnings have been talking about higher cos , costs,. Wendys talked about higher beef costs and papa johns yesterday talked about
Darkness. Schools are letting students out early. This is a live picture of the area seen by our affiliate news helicopter. The problem was apparently caused by a major cable failure. Officials at dte edison are working on the problem and the power is slowly coming back on. Detroits mayor will give an update later this afternoon. General motors, one of the only big three auto makers located in downtown detroit says there has been no impact at the Renaissance Center headquarters. Now to Courtney Reagan with breaking news on amazon ceo jeff bezos. Amazon ceo rarely speaks out not at Quarterly Earnings calls and conferences except for today. He just wrapped up at the websites ignition conference expecting topics as drones and websites to what he is like as a dad. Here is what he had to say after the last disappointing report. You have been a shareholder for a long, long time. Happy, rode it up in the bubble. Very much believer in the long term, investment cycle and big bets. Even i last q
Year are being replaced. I think a very geopolitical issue, russia and the sanctions are probably a preimminent one. French president hollande scrambling to avoid a new crisis with the new proreform government amid criticism that his Economic Policy res quote unquote absurd. And amazon outmaneuvering google and yahoo . The 1 billion deal being its largest acquisition to date. Youre watching Worldwide Exchange, bringing you Business News from around the globe. Hi, everybody. Good morning. Glass youre with us. We have a lot to talk about over the next few hours. Ukraines president poroshenko has called for elections to happen at the end of october. The announcement was largely expected after the Government Coalition collapsed back in july. The ukrainian leader saying he hopes the vote will clear out the old guard. Meanwhile, fighting continues around downtsk. The Ukrainian Army said it intercepted ten tanks and two Armored Vehicles disguised as rebel forces. Moscow has denied these claim