Year not beating estimates. David it looks like their stock is down in the premarket about 2. 5 . Home depot before you so rudely interrupted me alix david is funny today. David not very funny. Per depot beat earnings share, a little light on revenue. They basically blamed a lot on lumber disinflation, basically. They are warning a lot about china. One is how they want to eat up the lumber costs, a 21 drop in the cost of lumber. At the same time, you have continued slowing homebuilding, but theres a lag for that. Home depot not necessarily feeling the full effect of that could weakness. Because of the price of lumber, overall sales are down. They took it down for the year. There estimates went down. Ls, theykoh reaffirmed their adjusted Earnings Guidance on that comp sales mess. We will dig into retail more over the next couple of hours. The equity markets looking a little bit soggy here, with s p Futures Party much flat. Dow jones off by about five. It doesnt feel like theres a lot of
The different positions on the fighters has become a major source of tension between nato allies, turkey, and the u. S. Women who say they were victimized by Jeffrey Epstein expressed anger today over his suicide in a new york city jail, saying he deprived them of their chance of justice. Todays hearing was held for the purpose of throwing out the case because of the defendants death, a typical step, but the judge ordered the accusers an unusual opportunity to be heard in court. During the hearing, an attorney s rulingthe coroner that the financiers death was a suicide, with an expert saying his injuries were more consistent with homicide. Global news 24 hours a day, onair, and tictoc on twitter, powered by more than 2700 journalists and analysts in over 120 countries. Im Mark Crumpton. This is bloomberg. It is 1 00 p. M. In new york, 6 00 p. M. In london, 1 00 a. M. In hong kong. Im vonnie quinn. Welcome to bloomberg markets. From bloomberg World Headquarters in new york, here are the
This fund in times of turbulence. We saw them withdrawing as markets calmed. Traders tell me this is usually a cash parking vehicle. Sarah i have been keeping an rates, or theven spread between nomination yields and those on similar maturity. Really all month long, we have seen them moving lower. 10year and 30 year, we have seen them fall the most this month than any other month this year. I spoke with the head of u. S. Ate strategy over a ups ubs. He said they are following along with the story and equities and oil, also saying it is setting a similar message as to the inverted yield curve. Lisa thank you so much. Andl with us, dances of the dan suzuki and luke kawa. I want to pick up on a notable theme. I wonder what your take is, that even though the Federal Reserve is expected to cut rates by 23 more times this year, it seems to be ineffective in getting the yield curve to steepen. What is the message . Dan i think the messages that things are slowing down. Theres a lot being made
7. 09 offshore. Spread between offshore and onshore is particularly wide. 106. 10. Trading at if we look at the s p 500, it is semiconductors, copper stocks, casinos and gaming with exposure to china, asia, and all of that area. One bright spot, tyson foods after a whopping quarter. Guy european stocks are down. They followed asia, down by nearly 2 on the stoxx 600, and it is on big volume. The german tenyear, 50. We are now 52. See a haven bit attached to the german bond market. Talk over the weekend is that brexit cannot be stopped, and that we are headed for a new deal brexit. That was the message coming from the chief advisor now to Prime Minister boris johnson. The pound on the move as well, but coming back to flat. Vonnie china of course pushing back after President Trumps tariff threat, allowing the yuan to cross seven per dollar for the first time in a decade, and instructing company to suspend imports of u. S. Agriculturals. We are joined now by Charles Robinson charles robert
We saw was escalation of the trade war with the latest move being china fixing above seven last night. That is trading at 7. 10 now usdcnh. For adding to the downside, it is the internet and Home Entertainment index in the s p 500, the worst performing group right now. Electronic arts, take two interactive, and Activision Blizzard after the president talked about reframing violence in society, specifically encz and video games as part of the problem specifically mentioning videogames as part of the problem that led to the mass shooting over the weekend. He also condemned white super messy for the first time. The tenured you White Supremacy for the first time. At 1. 77. Ar yield guy lets get back to the china story. China letting its currency go through seven to the u. S. Dollar. Thats a big line in the sand. Has been for a long time. The chinese have never really gone there, not since 2008, and certainly not in the duration of this trade war. However, that has now happened. Spring in h