Stop there. Shares of costco under pressure taking target and walmart along with it and another bad day for the grocer. Super value falling 9 after it slashed its fullyear outlook following guidance cut yesterday. What the are these stocks telling us about the consumer . Brian kell . Well, listen, this started back back in december of last year when we had automation. Mike jackson was on cnbc talking about the fact that auto sales were falling. Thats a leading indicator. Thats happened over the First Six Months and now youre starting to see it into retail. Youre starting to see it in macys and all of that. Maybe its for Rising Oil Prices, maybe not. For me to the big macro picture last friday with the jobs report one thing that wasnt so great about that. That was average hourly hours worked per week. Thats been dropping. Its dropped about 1 . That means people have 1 less money in their pocket on average. Hold hon. The last time that we saw that was right before the 2008 recession. Wel
We will have votes in a couple hours. We want to make sure we move quickly through this. Before i start, i want to acknowledge that our good friend and Ranking Member of the committee, frank palone is not with us because his father died. We keep his family in our prayers. I did not personally know his father, i know he raised a good son. So we thank him for that. We will continue on from there. Next, joined today also with my colleague who is wearing Denver Broncos orange. Congratulations for a super they must be a good team, because they beat the steelers. Now on with our hearing. Good more than, wer good morning. Were reminded those that seek to do us harm through a variety of harms, including biological attacks. The threats are growing and every changing. We are ill prepared to detect and respond to the threats as rapidly as needed. We have been caught flat footed too many times in the past. We face a deadly enemy we cannot see. Our methods to find it are inadequate. We may know kno
So the Vice President is the only person that can cut through that, talk to the private sector and simultaneously talk to state and local governments. And put all those pieces together. Hes also the only person that can demand a unified budget out of the omb and across the government. This was a bipartisan recommendation. It was a bipartisan recommendation. I have to tell you, i hesitated, as someone who sat in a government agency, a powerful government agency, i hesitate to transfer power to a Vice President or to the white house in general. As you know, cabinet agencies have a certain amount of tension with white houses. But at the end of the day, this is one of the areas where you need a unified budget. The only other place we have a unified budget is actually in intelligence. So this is a parallel to that, to pull all the pieces together. And its important enough to identify the Vice President. And Vice President s always have some time to take on other responsibilities. Thank you
Next, a Senate Hearing on u. S. Preparedness for biological threats. Then Gina Mccarthy talks about the clean water act and the clean power plan. After that, new mexico governor sus Susanna Martinez gives her state of the state address. Now a house hearing on the nations preparedness for biological threats. It comes following the release of recommendations from a special panel on biodefense. This is just over two hours. Good morning. We will begin this hearing. We will have votes in a couple hours. We want to make sure we move quickly through this. Before i start, i want to acknowledge that our good friend and Ranking Member of the committee, frank palone is not with us because his father died. We keep his family in our prayers. I did not personally know his father, i know he raised a good son. So we thank him for that. We will continue on from there. Next, joined today also with my colleague who is wearing Denver Broncos orange. Congratulations for a super they must be a good team, be
Dow gave up 160 points. S p dropped 1. 25 . The difference is stark. And as you will see throughout this show, ive been adamant that the ipos, endless insider selling, and valuations on sales, not earnings, are all making it, so we dont have a clue where the nasdaq bottom might be, although i remain somewhat sanguine about its dow brethren. Worse, its become clear that many people are overextended, meaning theyre borrowing a huge amount of money to buy stock. Let me be very clear about something. I dont care what you say about margin buying. If youre doing it, and i know its a record level, youre wrong. Recognize that you can borrow money to go to college or buy a house, but you should never, ever buy stock with borrowed money, which is why im starting next weeks game plan with a marching order. As tempted a as you might be to buy a host of fastgrowing companies, i find it somewhat tempting myself, you must sell, not buy stocks on monday in youre using margin debt. The figures are real