Which means they were the vast majority of the comp sales the in store sales were. 9 . The stores fulfilled 80 of the digital orders in some way Brian Cornell said the retailer will spend 500 million from the beginning of march through july 4th on higher wages and other operational expenses related to the covid crisis so this spending goes beyond q 1 into q 2 not directly comparable with what we heard from walmart yesterday. The sales came at a cost their operating Income Margin was 2. 4 compared to 6. 4 in the same period last year and the gross margin rate was 25 compared to nearly 30 last year but then look at lowes, Michael Baker calls lowes perhaps the most surprising result of the quarter for retail their comparable sales grew more than 11 total up more than 12 in the u. S. Thats only the fourth time in at least ten years we think that lowes beat home depot in the u. S. Both retailers had identical online sales growth in the quarter of 80 but that is a huge growth compared to las
Significant rally, up eight at the opening bell, a gain of 55, urging the fed to cut rates. We wait to see when the fed is. Some money coming out of treasuries. I want to see it but cant, dont have it but it is up from the historic low of one. 03 , it is one. 12 as we speak. Politics. A mad scramble by the democrats to support joe biden and beat back the bernie challenge. Amy klobuchar and Pete Buttigieg throw their support to biden, beto reappears to back him up. This is desperation time. Today bernie is expected to win the california and texas primaries, all hands on deck for the moderates, they are panicked at the thought of the bernie nomination but there is still bloomberg. He says even if he doesnt do well today he is not bowing out. Democrats are locked in a 3way battle, totally split, at war with themselves. Just wait till you see joes latest gaffes, that is plural. Varney and company is about to begin. Tomorrow is super tuesday. I was waiting for a black man to pick me up and
Southeast asia, gdp out of fullyear growth for 2019, philippines not playing ball the first trading session and dollaryen, gold, oil and treasury futures looming, looking at where we go moving forward as well. Dollaryen 108. 66 and gold futures pulling back slightly, by a futures contract. That is the markets. Uneventful. Here is the first word news. Kim jongun says he is no longer bound by a pledge not to willmissile tests and debut a new weapon. He says u. S. Sanctions leave him no choice but to reconsider commitments that underpinned his meetings with President Trump. Trumps reaction was muted, repeating that kim agreed to denuclearize. Hong kong kicked off the new year with renewed protests, vandalism and tear gas. Demonstrators and Police Clashed into the night after tens of thousands of mostly Peaceful Protesters took part in a march. Protesters vowed to maintain their fight for more democracy and less chinese control. Willdent trump says he finalize the first phase of a trade de
Citizens terrorists least. Illegitimate seizure of. The government offices which taken over. Those are your headlines this hour you can find out more at r. T. Dot com up next on Arch International it is the kaiser report and in the u. K. And ireland it is boom bust stay with us. Hey welcome to the cons report the 1st episode out of 2020. States here are not going to have some really special guest right with us right now dr Michael Hudson dr michael and welcome to be here i was just curious i have as crazy image moment ago you know back in the seventys 1970 s. There was a movie called death wish with Charles Bronson to remember that i remember that there was a sequel in the sequel to that right now sink in that we could do a remake you are the star you play the Charles Bronson role is called death wish and here vigilante banker economist that goes around new york blowing away bad debt where you think i love it and set that up you think youre ready to do that 2020 i would be a very good
Vigilante and im the austin economist and we meet and 42nd street and do you blow me away with your 45 magnum debt equalizer or do we have a discussion about this well i say theres a basic principle of debt that a debt is only valid if you make if the debtor can repay it but if of a lender makes alone without any idea how the debtor can repay it then the loan is considered a fraudulent loan so i would define fraud and begin of a large debt write down also a secretary of the treasury i would be in charge of text policy and id minimize housing prices id roll them back down by basically taxing the Capital Gains of land so that when value gains if you would tax the speculative gains and land the under and income not the building but the land youd. Nobody could borrow from the banks to inflate housing prices so id end the asset Price Inflation of real estate and b. S. The Price Inflation of corporations and basically restructure the economy in the way that it could afford to handle good deb