Our road map with more retail reports. Lowes and target disappoint. But there are some retailers bucking the trend this morning. Well fill you in. Plus, Donald Trumps campaign shakes up its staff again. Trump doubling down on his strategy for the final stretch. More upsets in rio, more medals for u. S. Gymnastics. Well get the latest olympic tally from andrew in brazil. But first up, stocks are looking to rebound from their worst session in two weeks after posting record highs on monday. Wall street awaiting the 2 00 p. M. Release of the fed minutes from last months meeting. Meantime yesterday, new york, fed president dudley and atlanta fed president lockhart said a rate hike is possible at the fomc september meeting, guys, only question is whether that hawkishness is going to be reflected at 2 00. Yeah. I mean at 1 00 first when James Bullard talks and then at 2 00. I think its been a noisy message from the fed officials not just because of what theyre saying but theyve been consisten
The first half of 2016 totaling 1. 2 billion. While it may not be a Public Company yet, we have the details on how they are performing. 30 minutes into the trading day into the u. S. Lets go to the markets desk where Ramy Inocencio has a latest. Ramy a second down day in two days for the markets. It is an earnings, commodities, and fed story, as it was yesterday. Commodities including oil and metals are down her second day in a row. Investors on the sidelines because of jackson hole, wyoming. Yellen to see what janet may say with regard to rate increases. Take a look at the markets, fairly flat. Downow, s p, nasdaq, not by much at all. Take a look at the biggest weight on the s p. That is in the tech severe, apple. Done by 1. 25 . Yesterday, tim cook celebrated his fifth anniversary at the helm of the worlds most valued company. His share price the companys share price doubled in that time. As we look ahead to the next iphone, questions about innovation and inspiration from the company
Take stock of what jackson hole will bring with janet yellen. Tom weve been doing this all week. Equities weaker yesterday. Not a shock, but just off the boredom, a very difficult afternoon for markets in the u. S. Janet yellen front and center. 10 00 a. M. Tomorrow, francine, eastern time. You wont hear her speak. It is in a closed room. Embargoedgets an speech and we will have all the headlines out at 10 00 a. M. Exactly. Francine that is what the markets are watching. Today we look at geopolitics with the deal in columbia between the government and the guerillas. Lets get to the bloomberg first word news. The death toll is rising in italy. The government says at least 257 people were killed when the quake rocked central italy. Three mountain towns were leveled. Rescue crews are trying to find survivors. Many of the buildings were built centuries ago. In kabul, Authorities Say at least 12 people were killed in an attack on the American University of afghanistan. The assault began wit
To raise rates it could increase in inflation. He doesnt conclude that would happen but we need to think about that. He repeats kind of the normal argue amount for raising rates and says f1 policy remains extreme and inflation is close to target. Not strictly endorsing but saying thats the normal argument for why rates should be normalized. Former Federal Reserve chairman ben bernanke out with a blog about negative Interest Rates and says the fed is not out of ammunition but there are signs Monetary Policy is reaching its limits. They include lowering rates but not much to do there. A quarter point. Forward guidance could be powerful. More quantityive easing and negative Interest Rates. What does he say sna that evidence from europe suggests they might be more powerful than had previously been thought and argues anxiety over negative rates could be overdone. Banks could still earn a profit by charging a higher rate than they pay. Bernanke also says negative rates have modest benefits a
The shine off. Europe higher, the price of brent getting relief. Back home, november cpi with a two handle year on year. Hat fed hit its target ahead of tomorrows decision . Anticipation from the markets. The feds twoday meeting starts today. Tomorrow is the highly anticipated announcement, will they or wont they . Shares of qualcomm are up in the premarket on news they will not break into two. And apples losses continue, one of the key suppliers slashing guidance today. First up, todays the day the fed kicks off the twoday policy meeting. Many expecting it to end with the first rate hike in nearly a decade. Futures are off their highs of the morning after 3m cuts its current year guidance. Oil giving up gains as well, wti hovering around 36 a barrel. Interestingly, the opec secretarygeneral says that low prices cant continue, and they reiterate their guidance that they think nonopec supply will come off next year. Definitely will. A lot of this junk bond scenario that we talk about in