What a deal could mean for the other chip stocks. Power lunch starts right now im Brian Sullivan the markets moving just enough today to give your investment dollars yet another new high, thanks to the saudi news oil is moving up again data is pushing Energy Stocks higher chevron and exxon among the dow leaders. We talked about Semiconductor Companies as well. It is fair to say that lately, it rocks sox at new alltime highs. Michael kors soaring, the fashion retailer beating earnings estimates and raising its outlook. More on that ahead and reports the Pharmaceutical Company may becoming a takeover target thank you very much im tyler mathieson. Welcome to power lunch. Target gearing up for the holiday season, announcing deeper black friday discounts and plans to open 6 00 p. M. To midnight on thanksgiving day i will be asleep staying with retail, amazon cutting prices of Third Party Products in the face of stiffer competition. And the new york fed present William Dudley plans to retire
Rishaad we are looking at Southeast Asian banks. A very competitive market out there. We have new entries to make it even more competitive. Have a look at this. This is a bloomberg chart. As jack ma changing lines of partnerships around the world. 450 Million People have limited access to Banking Services and, buying vying for core customers. We have seen how sales at alibaba have been going up exponentially. This will go up with other internet superstars out of china getting into the action. Absolutely. We are always still watching for that potential ipo, that crown jewel of alibaba. Look at the numbers compared to amazon prime day, we are expecting somewhere south of one billion. 18aw sales of almost billion last year for alibabas day. We are around 30 minutes from the open in hong kong and china. Janet yellens testimony to congress is on everyones mind. We are kicking off Earnings Seasons for the Second Quarter as well. Singapore, taiwan, and malaysia are coming on as well. Sophie t
Biggest amount in seven years. Largely because of President Trumps pro business agenda. We have the full details on how it could impact your business coming up. Meeting with saudi Arabias Deputy Crown prince. This is on the heels of opecs new report showing conflicting data on saudis Oil Production. Saudi arabia directly reported to opec it increased Oil Production in feb to 10 Million Barrels a day. This conflicts with the secondary sources that saudi Oil Production decreased. Lets bring in brenda shav schaeffer from georgetown, university. An issue thats hurt oil prices before we go on to saudi and opecs impact and that, of course, is u. S. Inventory levels. Is that a genuine fear for oil prices . I think we have to look at the short term and the long term. The short term, obviously were seeing this is having a huge impact on the oil price, a very big dip down to november 2016 levels. So its the saudi data, the confusion about the saudi data and also the u. S. Inventories. If we look
Now, they are mixed in trading. They pretty much have been for most of the day. Volume has been pretty off, as well, especially as we head towards tomorrow and the july jobs report. Earnings are backandforth today, and this is what we are getting. Training s p 500 within a band of only about 10 points or soap you right now, the dow is down. 1 . Lets take a look at the s p sectors. Lets look at the Sector Health in my bloomberg. Generally speaking, a majority of our sectors are in negative territory, financial done the most, by about. 3 . Energy also down by about. 3 to technology is up the most, by about. 5 . Materials up. 4 . Taking a look at what is happening in terms of the biggest loser, metlife scraping the bottom of the barrel right now, down about 10 . Lifeis the u. S biggest insurance appeared secondquarter profit fell on the order of 90 . It plans to cut costs by 1 million by the inbound of 2019. This is its biggest fall in six weeks. Leslie get energy in terms of oil. Oil is
Getting you more prepared if the fed decides to take action this month. You can protect yourself with a little more cash than you currently have, but not anything wholesale, not anything dramatic. I am not in favor of that. If anything, i suggest you stay the court if youre a home gamer. I want to explain to you why i feel were facing a decline of moderate proportions, one worth riding through if you can stomach it. Only the super nimble need to take action on what im about to tell you. Let me explain to you how i envision the risk reward versus some of the other declines weve seen in the last eight years. We have had several major selloffs during that period, and each one has had its own coloration. But only one was worth selling a majority if not all of your holdings into. The actual decline that cut the averages pretty much in half. Yes, the Great Recession decline. Thats the tremendous one that occurred when so many of our institutions, mainly household financials but also many ind