25th. Good evening, and welcome. Call it the walmart effect. If there was ever, ever any doubt about how much walmart matters to the economy, to the stock market, to suppliers and competitors, those doubts were put to rest today. Walmart shares took abrupt 3 dive midday yanking the dow down with it after the press report said the company is cutting orders to suppliers amid sluggish sales and rising inventories. Take a look at an intraday chart of walmart and zero in on that drop. Right there, around 1 30 p. M. Eastern time. As you see, the stock did recover about half of that loss after the company knocked the bloomberg article as, quote, misleading. A spokesman characterized any order pullbacks as category by category, not across the board. Walmart did finish the day about 1. 5 lower on twoandahalf times normal volume. The episode served as a reminder when walmart sneezes others catch cold. Names like costco, target, dollar general, dollar tree and Family Dollar and retrailers werent
That and more for nightly Business Report for wednesday, september 11th. The dow has done it again. Three days in a row of triple digit gains. The s p up seven straight days, the longest winning streak since july. The closing numbers, the dow soared 135 and the nasdaq down four and s p added five points. Over in the bond market, u. S. Treasury bonds rallied after an auction on the benchmark tenyear note attracted the highest demand in six months. 21 billion worth sold at a yield at 2. 94 , the highest uncle sam paid in two years. Susie that pail in comparison to verizons history making Corporate Bond offering today. The biggest ever on wall street. The giant sold 49 billion worth of bonds today and incredibly, that was only about half of what investors were willing to buy. It will use the proceeds to help finance the purchase of vote a phones, 45 stake in those two companies, Verizon Wireless joint venture. David faber joins us with more on the massive side of this deal and youve been
That and more for nightly Business Report for wednesday, september 11th. The dow has done it again. Three days in a row of triple digit gains. The s p up seven straight days, the longest winning streak since july. The closing numbers, the dow soared 135 and the nasdaq down four and s p added five points. Over in the bond market, u. S. Treasury bonds rallied after an auction on the benchmark tenyear note attracted the highest demand in six months. 21 billion worth sold at a yield at 2. 94 , the highest uncle sam paid in two years. Susie that pail in comparison to verizons history making Corporate Bond offering today. The biggest ever on wall street. The giant sold 49 billion worth of bonds today and incredibly, that was only about half of what investors were willing to buy. It will use the proceeds to help finance the purchase of vote a phones, 45 stake in those two companies, Verizon Wireless joint venture. David faber joins us with more on the massive side of this deal and youve been
Mostly good news from the president unless, that is, you live in one of the states. The president said just today we have states, a lot of states, territories too. The problem is hes not happy with the states. He took a swing at governors for not being thankful enough. He thinks the states should have been prepared for this pandemic even though he seemed upbeat on the pandemic. Just today he said, its not going to be long. This is ending. This will end. Youll see some bad things and youll see some very good things. Were healing, he said. Were Getting Better. Were Getting Better very quickly. He reminded everyone this was artificially induced, not his fault, and insisted out loud it is going away. He and his people announced today the cdc now recommends we cover our faces when we go out. The president then went on to say he wont be covering his. Dont imagine he would love that photograph. And then he said six times that wearing a Face Covering is voluntary and that its for a period of t
President unless, that is, you live in one of the states. The president said just today we have states, a lot of states, territories too. The problem is hes not happy with the states. He took a swing at governors for not being thankful enough. He thinks the states should have been prepared for this pandemic even though he seemed upbeat on the pandemic. Just today he said, its not going to be long. This is ending. This will end. Youll see some bad things, and youll see some very good things. Were healing, he said. Were Getting Better. Were Getting Better very quickly. He reminded everyone this was artificially induced, not his fault, and insisted out loud, it is going away. He and his people announced today the cdc now recommends we cover our faces when we go out. The president then went on to say he wont be covering his. Dont imagine he would love that photograph. And then he said six times that wearing a Face Covering is voluntary and that its for a period of time. In other news, the