Welcome to power lunch. Im michelle carusocabrera. The major averages are lower kicking off the busiest week for earnings but the s p tracking for its best monthly gain since february the nasdaq was on track right here, yes. Best month since january oil pushing higher, crude prices up more than 1 . We keep show l well get to that. Financials carving out small gains, utilities and health care lagging, j j, home depot, the biggest losers in the dow right now. Some of the big movers pandora higher on news of state pajama makers, maybe not blue apron, we finally get it, soaring on positive comments but hasbro is tanking. A deeper dive on these stocks straight ahead here on power lunch. Thank you, michelle. Im tyler madison. Waiting for Jared Kushner to make a statement at the white house after his session with the Senate Intelligence Committee Earlier today. We are also waiting for the democrats to unveil what they are calling their better deal for the economy and for americans at an event
The latest vote suggests the no count has taken the lead. Shares in ricardo trade higher despite a fall in profits. Chinese stocks hit a high as weak numbers suggest beijing will step up with fresh stimulus measures. Announcer youre watching Worldwide Exchange, bringing you Business News from around the globe. Good morning. Welcome to the show. Were just getting the report through that we had expected from the International Energy agency reporting that oil prices, quote, fell sharply in august. As we know, wti declines by 6. 32 to 96. 08. Brent down to 4. 79 to 103. 40. It says a slowdown in demand growth in the Second Quarter caused by a weaker outlook for europe in china underpibed those downward revisions. It said compared with a year ago, Global Supply was 810 thougs barrels per day. Referencing geopolitics, the iea said while conflijt in iraq and libya show in signs of abating, prices remain muted, that because of weakening demand growth and supply. We will be talking to the bnp s
Might strain storage limits. A strike in the oil patch may be over. The union has less workers and has reached a you with royal dutch shell. The united steelworkers say they are getting paid and health care increases. Federal officials want to know if bill ackman tried to manipulate herbalife stock. The fbi says that he and people working for him are being investigated. He made a billiondollar bet against herbalife shares. Ackman claims that herbalife marketing is effectively a pyramid scheme. Herbalife has lost about half of its value in the past year. Well ask will ackman about this later today right here on Bloomberg Television. And a controversial bill aimed at targeting hackers in congress. A proposal was clear. Prosecutors say they need new weapons to fight cybercrime. Activists say that the bill would give the government too much power. Peter cook asked the Committee Chairman if it would stop corporate hacks. We mightve minimize the loss the cosa response time. We couldve provid
Lets get you to the top stories. Goldman sachs reported its highest earningspershare in more than five years. All of goldbergs major businesses Beat Estimates. The firm paid a smaller portion of revenue in compensation. Citigroup also Beat Estimates First Quarter net income rose 21 . Citi helped offset trading present it with a 10 drop in expenses. Etsy shares doubled in early trading after pricing at the high end of the range, a ranged a raised 267 million in its ipo. Party city went public, shares opened 20 as private equity owners did not sell any stock in the ipo. Trading is underway from virtu financials. The first highspeed trading firm to go public. It raised 314 Million Dollars in its offering. The ipo was delayed after the publication of Michael Lewis boys. Flashboys. Another sign of strength in the u. S. Labor market. For the sixth straight week, fewer than 300,000 americans filed for firsttime jobless benefits. The table a number of people receiving benefits was the lowest s
They say price cuts helping out. That news down under, australian employers cutting over 22,000 jobs last month. The us trillion dollar goes to a threeyear low. People talking about the possibility of rate cuts. Ecodata in the united states, we get our own cpi, expected to show little change. Will it be a big deal . Everyone wants to know if we will have disinflation continues here. Maybe we will get some answers will stop initial jobless claims this morning. Betterre we feeling about things . We get another reed at 10 00 from the Philadelphia Fed is this outlook. How are homebuilders faring these days . The Housing Market index is out. The big one, ben bernanke, he speaks at the Brookings Institution, probably his last speech before he departs. It is called lessons for central bankers. Earnings, Everyone Wants to know what Goldman Sachs did. There are out at 7 30. Citigroup at 8 00. The worlds biggest, blackrock, reported about 30 minutes, and argo. Lock buster numbers. 30 nsensus was