Underperformance of Large Cap Technology and outperformance of value. Guy, what did you make of the action today so i know you remember everything, so you may recall yesterdays show every once in a while something sticks with you, like an onion or Something Like that, yesterday there was something said on the show that resonated with me. We were talking about the vix. He correctly said just because you have an elevated vix, its not any deby definition a negate thing for the market today illustrated that exactly im shocked by todays performance. The reversals we saw yesterday should have followed through today. Maybe that happens tomorrow, i dont know what i make of it is the resilience of this market continues to be unprecedented, in my opinion. Still label me a skeptic lets pause this conversation we have some breaking news from moderna. The stock is up in the after hours session. Meg . This is the phase one study of modernas covid19 vaccine program. The full results being published i
Across the board europe is mostly lower, the ftse 100 getting a boost, modest. Big boost in rates thats a story as well, the ten year note yield, look there, 2s and 10s on the move this morning, ten year at 238 look at crude oil as well. Just below 50 a barrel, 49. 65. Road map starts with the hurricane effect the Labor Department reporting that 53,000 jobs were lost last month, first contraction in seven years. Does that mean a pause for wall streets record run . Stock futures are pointing to a lower open slightly this morning, the s p 500 coming off its longest record streak since 97. Watching netflix sharpen its fangs, the streaming giant up 5 yesterday alone. And seeing some key upgrades today. The september employment report also shows privatesector payrolls down 40,000 the Unemployment Rate did fall to 4. 2 , the lowest since february of 2001 average Hourly Earnings now up 2. 9 from one year ago jim, we mentioned all of the classes of stuff that is moving, rates are up, the dolla
Tech sector to prevent the next strike. All that and more tonight on nightly Business Report for monday, january 13th. Good evening, everyone. A troubling way to kick off a new week of trading. A major selloff on wall street today. What triggered it . Anxiety about the first batch of earnings from big corporate heavyweights that are coming out this week. A Goldman Sachs report saying stocks are too pricey. And to top it off, more comments from a top Federal Reserve official. That was enough to give strors jirts. The dow posted its biggest oneday decline in more than three months. The blue chip dow stocks tumbled 180 points, a drop of almost 1 . Nasdaq fell harder, losing 61 points, or 1. 5 . And the s p was down by 23. Bob pisani has more on todays Market Action and trader talk about the new york stock exchange. Reporter stocks started mixed but moved lower midday and closed essentially on the lows for the day. Goldman sachs issued a report on stocks saying valuations were lofty by alm
After the bank of japan surprises World Markets with additional stimulus. Shares of starbucks heading in the other direction. Lower premarket after Quarterly Sales disappoint. We will talk to Ceo Howard Schultz about that in an exclusive interview later on in the hour. And citi adjusting its previously reported Third Quarter profit, setting aside an extra 600 million to cover legal costs. We are going to explain exactly why. Well, a global rally for stocks on a morning that could see the dow open todays session in record territory. This after the bank of japan unexpectedly announced additional stimulus measures, including plans to buy more japanese government bonds and other assets. U. S. Stock markets on track to finish what has been a volatile october on the up side. Jim, some 2 1 2 weeks ago, would you ever have thought we would be sitting where we are today . The numbers are unbelievable, from the lows, the dow is going to be up 9 , s p 10 , nasdaq 11 . Whats amazing here this is a
11. 4 . Lets do 1. 24 is the number that were looking for, which is 3 cents ahead of expect takings on sales of 22. 5 billion, which was 700 million ahead of the 21. 8 billion estimate. The company is looking for 2013 of 2. 60. The street is already at 3. 64. Since there is three cents ahead already, andrew, that doesnt necessarily, you know, they beat by three cents in this Second Quarter, so to boost the fouryear is not that to say theyre raising doesnt really help. Depends where analysts already were, right . They do see fullyear sales up 4. 5 . The fullyear number is 77 thats a big number. It looks like the sales are going to normalize. Quarterly same store sales of 11. 5 and coming down to 4. 5 for the full year. Those are same store, not total sales. Right. If theyre adding stores, yeah, got to be even worse. And then, right . Same stores is going to be different than once we saw the number western did see the sto we did see the market come down. It is hard to say. 72, 26, 97, wi