A roadmap continues with the retail wreck continuing, gap, foot locker and ross stores all on the move after earnings. And more on the latest on the disappearance of egyptair flight. First up, stocks are poised to open higher a day after the s p touched a twomonth low on concerns the fed might hike rates next month, or in july. The dow and the s p on track for its fourth consecutive weekly loss, thats the first such streak since october of 14. The nasdaq on pace for its first fiveweek streak in the red since 2012. Yeah. Interesting to put in perspective the month weve had. Money pouring out of the market worse actually, these guys talking on squawk box worse than 2008 and 2009. People concerned its not just one hike, its multiple hikes. I dont know how that conversation comes back on. Thats scaring people. Earnings just soso. Geez, its just kind of a subpar picture, i think. Really . Even with the economy essentially the fed saying its essentially Strong Enough to handle this. Why is t
Retail sector is still under pressure. Pandora shares on the rise after activist Investment Firm calling for pandora to consider a sale. Stocks poised to open lower following mondays rally. Futures up 0. 4 as gasoline, medical care and food prices up. April Housing Starts up 6. 6. Well above expectations on a 3. 7 gain. Economy doesnt look too bad this morning, jim. No. A lot of that increase in cpi is gasoline has come up. Thats something that the market likes, which is the craziness of this market. Remember we go to 48 for oil yesterday, and we have an explosion. All the stocks of the companies that do poorly when oil goes higher, but thats all right because oil is meant to be a barometer. We keep telling ourselves that. At a certain point its not a barometer. At a certain point its back to the inflation rate. But at the same time i dont see a lot of strength. I just see a lot of no volume, algorithmic moves in the stock market. Yesterday was one of the worst examples of it because t
Crude oil prices also, which yesterday ended relatively flat. Prices have picked up slightly to 48. 25 for p ti. Brent crude up as well. Existing home sales come out at 10 00 eastern time. Expected to have a risen but at a much slower pace than march. As for earnings look for campbells soup, deere, foot locker and the buckle. Its stubhub. They got pay you 500 oh okay, how much . Oh pay me a thousand o go. Kind of a negative Interest Rate thing where they actually pay you do come. Its ban busy week on the retail front. The latest name to report. Gap. The retailer posted earnings in line with previous guidance but it is giving a cautious outlook for the rest of the year. Warning it needs trends in the Apparel Retail environment if it going to hit wall streets earnings target. Amid that slump gap plans to close all Old Navy Stores in japan. Also some banana republics, mostly outside of north america and lit do that by the end of the business year. Following the latest reports s p downgrad
Retailer issues weak guidance, announces the cfo will step down. Toll brothers is going the opposite direction. Sold more homes at higher prices driving up numbers for latest quarter. And facebook responding to claims that its trending topics are skewed by political bias. The revamp for that company is coming up. But first up, best buy shares falling in the premarket. The Electronics Chain issuing weaker than expected guidance for the quarter, First Quarter results did beat consensus, but domestic comps were essentially flat. Sales growth and wearables, home theater and appliances offset by some weakness in phones, tablets and gaming, but chair is leaving and at least citi for their part today says that means improvements from here on out could be limited. Yeah, i saw that downgrade. Well timed downgrade because the stock was starting to creep up. When you look at the actual numbers they did and look at their future, they kept their guidance, i didnt think it was all that bad but the d
Check out early trade, youll see green arrows. Major gainers looks like france up 1. 3 . Italy is also up by 1. 5 . Take a look at crude oil prices this morning, things down by 14 cents 47. 94. Fed speak holding attention. Patrick harker joined the chorus. He argued that a june data rate height. Who . Thats who he is, Patrick Harker. The fed meets june 14th and 15th. Harker not a voting fmoc member this year. So whether what he says matters, its a bit of debate. Do they care about the consensus around the taken. Whoa, that is thats marinelike. Yeah. Tight. I got sheared. Whoo summer thing. Acceexcept it rains every da. No, it doesnt. Saturday and sunday. Depending on which forecast youre looking at. Last week . Yeah. Its a little title. Did dealing with these things, well deal with it. Things could be worse. Hair loss is not the end of the world. You go short no, im just trying to figure out the right system. That is the only issue im not dealing with at this point. Yeah. This is like