Date trade tensions resurface as china rebukes the decision to sign a bill backing protests in hong kong. And retail front and center as we get forecasts from adobe and the National Retail federation, forecasting strong Holiday Spending joining us for the hour is allied chief Investment Strategy lindsey bell here we go, a shortened day today but a lot of excitement. Whats driving the action . Well, you know, there is lower volumes today. Coming into the end of november, going into december, this is the seasonally strong period of the year earnings season was a good one retail sales pretty good retail earnings were good even though a mixed bag and so i think were in the period of pause until the new year. What are you paying close attention to today. Well, today, i think its really all about this is black friday about the retail environment and the consumer theyve been very confident, wages going up Unemployment Rate very low, near 50year lows can the strength of the consumer driving th
The Ceo Mark Parker is stepping down, replaced by nike board minneapolis and service now ceo john donaho, marker will be the executive chairman we heard from parker exclusively on the closing bell. We have spent a lot of time over many months working on succession planning. So this is this is not something that happens in a matter of weeks. So its really unrelated to oregon project or other issues this is about me on the board really wanting to make the build on the momentum weve got. Add the horsepower, accelerate against our strategy and do it while im here and in a position to lean in and make this as successful as possible parkers departure comes a the dame the crow kevin planning leaving his post in the new year as well. Both stort sporting stocks time to lays up and buy or sit on the sidelines. Can you just say that. I just did. Do you have ears i do. It hurt my ears. Youre sproech so much smarter than that time to lays up and buy. Ha ha. Based on this mr. Donaho on the board of
Our nations capitol. Trade has been a looming source of uncertainty and this week a cloudy political outlook was thrown into the mix. Today the two combid. Ocks lifted lower after release of ae o whistleblower complaint that sparked impeachment inquiry against President Trump. Then came a report that the u. Unlikely to extend a temporary waiver that allows u. S. O Companies Sell supplies to the chinese tseom gnt huawei. By the close, the doungs industrial average fl 79 points to 891. The nasdaq was down 41. And the s p 500 slipped seven. Trars did snd muchraf the day watching the developments on capitol hill. The acting director of National Intelligence testified about that whistleblower complaint that alleges President Trump abused the power his office. Ylan mui has our story o from washington. It was another dramatic day inas washington. The acting director of National Intelligence testified before lawmakers amid dramatic new allegations surrounding President Trumps phone call to wit
Numerous t if this deal sticks, it would be the first time in eight years that the group of Oil Exporters would lower output. And with that, the price of crude took off rising more than 5 , its best day in five months its not every day you see 4 and 3 moves in dow components exxonmob and chevron. And when energy turned, so it stocks. The Dow Jones Industrial average 18,339, and the s p 500 gained as well. Bob pisani has more on the oildriven rally. Best day since april 8th since an Oil Production cut in november. Not clear how much is being cut but reportedly a cap on total producti on 33 Million Barrels a day currently over 32 Million Barrels a day. Under the unclear who will be cutting and when. Does it sound nebulous enough for you . The cuts will more loon likely come from the saudis, theyre producing at record levels. Do you really think youre going to get a Production Cut out of venezuela . I so. Exxonmobil was up more than 4 , chevron up nearly as much. Both pushed the dow up 50
Has tried and failed to do numerous t if this deal sticks, it would be the first time in eight years that the group of Oil Exporters would lower output. And with that, the price of crude took off rising more than 5 , its best day in five months its not every day you see 4 and 3 moves in dow components exxonmob and chevron. And when energy turned, so it stocks. The Dow Jones Industrial average 18,339, and the s p 500 gained as well. Bob pisani has more on the oildriven rally. Best day since april 8th since an Oil Production cut in november. Not clear how much is being cut but reportedly a cap on total producti on 33 Million Barrels a day currently over 32 Million Barrels a day. Under the unclear who will be cutting and when. Does it sound nebulous enough for you . The cuts will more loon likely come from the saudis, theyre producing at record levels. Do you really think youre going to get a Production Cut out of venezuela . I so. Exxonmobil was up more than 4 , chevron up nearly as much