For the time being. Our road map with the markets under continuing pressure after logging their worst day in more than a month yesterday. Jc penney reporting a smaller than expected First Quarter loss and nordstrom reporting a better than expected firstquarter profit. The seafood lover darden selling red lobster to Golden Gate Capital for 2. 1 billion in cash. A whale tale, the money swimming into verizon. Well explain that later on. All right. Futures as you said, you saw relatively stable after the stock markets worst day in about five weeks. The dow posted the 167point drop. S p fell almost 1 and the nasdaq is now in the midst of a threesession losing streak. During our program yesterday you saw the tenyear note fall below 2. 5 for the First Time Since last october and the russell intraday hit that official correction territory, managed to claw its way out by the end of the day. A lot felt that bounce was significant. You know what, i think that dave tepper really this was a dave te
Says are poised for bigtime gains. All that and more on nightly Business Report for march 21st, 201 2014. Good evening, everyone. Wall street wrapped up an exhausting week with sharp declines and equally intense gains that sent stocks on a wild ride. It began on monday with a crucial vote in moscow to take control of crimea. Once the threat of a military confrontation eased up, stocks surged. That rally continued on tuesday, but a day later Federal Reserve chair janet yellen hinted that Interest Rates might rise sooner than anyone expected and stocked plunged. Investors bounced back on thursday on encouraging economic reports. And finally today, a qaudruple reaching day for options and futures pulled down stocks. But investors had the final say on the week, pushing the dow and s p up more than 1 . And the s p even hit a new record in interday trading. By the closing bem the dow lott 28 points, nasdaq down 42 and s p slipped 5 points. The head of the minneapolis Federal Reserve says the
A valentines day edition of Market Makers. Im scarlet fu come in for Erik Schatzker. There is only love in here on this day. Frome top business stories around the world. Joseph a bank agreeing to pay ou eddie bauer. They have a venture prize value of 25 million. Joseph a bank has been fending off a takeover bid by mens wearhouse. 8 . Factoring output fell the fed put some of the blame on bad weather. It has not been this bad for the airlines sense Hurricane Sandy in 2012. More than 14,000 flights have been grounded this week because of storms in the south and northeast. More snow fell overnight in new york and boston. We move over to washington. Comcastrt to slow this takeover is already underway in full swing. Peter cook has more on the lobbying battle to come. The sales pitch has started in earnest. It absolutely has. Comcast reaching out to the regulators and lawmakers who say and in the way in th of this deal. Theyre moving aggressively to face competition concerns raised by the st
Megan hughes looks at how the faa is to dealing with drone mania. Ons begin with peter cook the Marijuana Industry and new guidelines from the department of justice. Good afternoon. Good afternoon. This is another step forward to legalize marijuana use in the United States, specifically in the state of colorado and washington, which have allowed for the Recreational Use of marijuana. The federal government, the Justice Department and the Treasury Department possible euro of crimes enforcement are releasing guidelines to banks in those states that would allow actually provide services to marijuana businesses, to marijuana customers. Federal government still views marijuana as an illegal substance, treated that way although these laws have changed and those businesses in colorado, the only place where you can actually buy marijuana, for Recreational Use, those businesses have not been able to bank with anyone. They have been cash only business is because the federal banking laws against
Up. Its friday, and alix steel is my cohost today. Looking forward to a threeday weekend . Who doesnt love a threeday weekend. Also exciting for investors because we are near record highs. Picture, to the big julie hyman. If you take a look at the big stocks we are watching today, Occidental Petroleum is going to be breaking up and its california unit is going to be a separate, publicly traded company. It will be the largest owner of natural gas and Oil Properties in the state of california. Those shares are up. Saying itsp is baking and snacking unit performed well internationally and domestically and earnings shares Beat Estimates by about 4. 8 . Wearhouse is going down today. Joseph a bank has agreed to by eddie bauer in part to try to thwart the bid from mens wearhouse. Investors asking, where does mens wearhouse go from here . As they asked the question, they sell the shares. This is unbelievable. The banking business is going to pot. The federal government is going to allow u. S.