Put away. What can be done to get americans to save more . Thats our cover story. Retirement in the u. S. Is becoming increasingly selffunded. In 197938 of private employers offer pension. Now its just 13 . The guaranteed retirement benefit is still common for government workers and union members, but private employers are more likely to offer 401 k s, employees put a portion of their pretax salary into taxdeferred accounts. Employers can match those contributions, although they dont have to. Unlike pensions which pay a fixed amount, 401 k s can rise and fall with the stock market. The Great Recession temporarily wiped out of the Retirement Savings of many americans. Not all workers have action to 401 k plans. Nor than 30 million americans have no employersponsored plans. In fact one third of americans overall have nothing saved for retirement. Its even worseor 38 have no money saved compared to 30 of men. Over the next two decades, nearly 10,000 americans will reach retirement age eve
American express reports earnings after the bell, but critics say perks are not what they used to be and it is weighing on the dao component. We have a debate on it. How much the credit card craze is happening amongst millennials. Intense, yes. Thats ahead. We begin with ibms fall after reporting its 20th consecutive quarter of year on year revenue decline. The company cfo discussed that when we spoke to him after those results. That 20 quarter headline is probably not the framing that were thinking about. Were thinking about how do we continue to move the business and our clients to get to growth. Now, the portfolio, the portfolio will grow. I am confident that the ibm company will grow again, but it is taking you know, were taking time. Our baub pisani over by the trading post with more. It is weighing on the market today, bob . Great. Good to see you. Theres a new risk to the market and thats earnings risk. We havent had it before. Let me show you ibm. They normally do four million
Tom, we had a little bit of eurozone data out. Continue watching a lot of the banks. We are waiting for Standard Chartered. Hsbc all about costcutting. I do not see how that could be a good strategy. Costcutting is front and center but all the focus is away from Standard Chartered on those European Banks. Bid thisbit of a morning. Francine they do a little bit. Certainly some of the stronger banks. Standard chartered coming up, we have to look at pretax, worse than expected. It is the Capital Buffers that investors are watching out before out for. Ct1all, that first half capital ratio 13 13. 1 . Pretax a little bit below. Capitalirst half ct1 ratio 13. 1 . Tom Standard Chartered is an emerging market proxy. Youve got the mexican peso out to to 19. That is all you need to know about emerging markets. Ian markets more than Central America but you make a very good point that this is not really a u. K. Bank. They are headquartered here but it is an asian bank. Lets get to first word news.
Them could impact the business world. And a new peek at the hyper loop. 060 in 1. 1 seconds. Phil lebeau is there and well have the latest del tails. Holy cow. Plus the governor of North Carolina will join us to discuss the impact of that controversial bathroom bill thats caused hundreds, from businesses to boycotters to ban his state. Take a wlook at all of the names being dragged down by macys. Sales missed expectations and also slashed its outlook for the year. That is its fifth straight Quarterly Sales decline. Rick snyder who had a hold rating on macys. We saw this take the whole sector down. Is this telling us how the consumer or brick and mortar is doing . Im not sure it is necessarily about either. I think it is about categories. And i think a lot of it is about weather, kelly. We havent had seasonal weather now for about a year. And i think if we can get a good cold winter the stocks can pick back up. You are telling me that 15 drop is on weather . If thats true that would see
And everything Mark Zuckerberg wants, he will get when it comes to facebook. Theyre holding a shareholder right now passing to give the ceo more control of the company. More details coming up. The heat wave in the west has caused devastating wild fires. Well take you there for the impacts on business. Lets start with todays rally. Bob pisani tracking the action. Bob. The important thing is weve held most of the gains. Lets call it steady as she goes here. Broad rally more to 1 . 5 1 advancing. Thats an impressive number. Volatility, vix, has been dropping here. Eight of ten sectors up more than 1 . Industrials, bank stks, technology, all have been strong. Financials i would note particularly strong. So all the money banks were up as well as the regional banks like comerica and regions financial. How confused are they over the brexit thing . The answer is very confused. Last week the markets were positioning for an exit. People thought brexit was going to happen. The markets seemed to b