The iea also warning that weak demand raises the risk of social instability. But Goldman Sachs executive calls lower oil a blessing. There are a lot of positives to the economy from the Energy Situation to the resurgence of housing to the most important thing of having reversed all the leverage that was in the system and kind of reset the clock. So you can take something thats a blessing, lower price of oil which once you think of like a tax cut. Take a look at the price of crude. Youre looking at wti crude at 59. 33. What are you smiling about, joseph . How many times have you heard that Lower Oil Prices like a tax cut . I probably heard that a thousand times in my life. But i agree. But i dont know if thats the you know . I saw that yesterday, too, that he said that. I was like, thank you, but i knew that. Right . Like a tax cut. We know that. But its amazing how many people push back. There was even a guy tweeting this morning meaning yeah you pay 50 cents less for gas and lose thou
Even with what we heard. I think what the greek government wants and European Partners wants are great Different Things. All sides are so scare of the possibility of a crisis if the greeks were to leave the euro. Theyre willing to do a compromise which is kicking the can farther down the road and not a real compromise, but a short time solution. Betty the greek official says the government should have enough money to get through the week so far. Warren buffett says the new ceo of Berkshire Hathaway must be more than a stock seeker. He spoke in a annual meeting and omaha. He is unlikely to back someone who has expertise only in investing. He also will support someone who has operational experience to succeed him. You might need a scorecard soon to keep track of the falcon president ial candidates. To outsiders are joining the race today. Former hewlettpackard ceo Carly Fiorina is in the running. She made the announcement in an online video that was just released. That she had the mornin
That now. He wasnt famous. No one knew him. But this is a great song. I hear it once and i like it already. Ive heard this a thousand times. Where . I dont listen to that. I like it. Anyway well hear more about larrys call on ceos to focus on longterm value in a moment. Also its a moment of news makers on the set. Well be joined by Steve Schwarzman and jack and suzy welch will be stopping by. Lets get you up to speed on the markets. Yesterday the markets did end higher. Dow up by 75 points. Things are mixed at this point but the to you pu tours are down by 26 points. Economic data at 8 30 eastern time. Weekly jobless claims plus housing tarts and then at 10 00 we have the fed survey. Its early in earnings season but only three dozen S P Companies reported but of those 80 have topped profit forecasts. Among the names posting results before the bell today we got black rock black stone. Well see steve in a little bit. Citigroup, Goldman Sachs, mattel and health united. United health just
At Country Music awards more than 70,000 fans back the at t stadium in texas. That broke the guinness book of World Records for the most attendance at a live award show. She took home three awards. Luke bryan won the entertainer of the year award that is voted on by fans. Lets get you up to speed in the markets. Check out the futures board. This morning, the futures actually indicated up by triple digits. The dow looking at a gain of 120 points. S p futures up 12 points and nasdaq up by 23. Weve got a couple of other big stories. Earnings central, Morgan Stanley tops the company set to post Quarterly Results this morning. Ibm reports this afternoon. 59 s p 500 companies have posted earning so far and Thompson Reuters have reported 75 have topped profit expectations. Thats the good news. But different story emerging on the revenue side. Only 46 of companies have topped estimates on the top line there. And in the big global story this morning, china, the central bank there cutting the re
More cash to shairps shareholders. Sears shopping for buyers for its canadian unit. Eddie lampert making more changes to that retail empire and sony, negative results again. More record highs for the s p and dow despite the soft data. Will we see new highs today . Another acquisition for yahoo . Marissa mayer scoops up snap chat rival strategies by a thousand buys blink. Youll miss another one. Whatever that meant. I dont know what i just said. Alibaba liked it. First up, though, macys did report First Quarter earnings of 60 cents a share, Beat Estimates. Retailer says comp sales down 1. 6, hurt by the Winter Weather and macys earnings released Terry Lundgren says sales trends did improve in april when weather started to improve. Announcing a 25 Dividend Increase and boost in the share buyback. The story on m is margin control. Despite the decreasing comp held vndsers to the fire. Got operating margin, 7. 1, looking for 7, gross margin 38. 9. Thats in line. Did they squeeze toomey . I