Component earnings joining us for the hour is stephanie link great to have you here i think thats exactly where we should start we had earnings from walmart and cisco. Cisco is the drag on the dow how would you characterize how it reflects back to the Broader Market last quarter the same thing happened where cisco disappointed and walmart posted a better than expected number. This is what this economy swhat this market is enterprise spend is weak on trade concerns and uncertainty and thats not Getting Better any time soon versus the consumer being very strong those numbers are very impressive 6. 6 stack comp for walmart. It actually kratd. Ecommerce sales 41 . Estimates are going up for walmart and going down for cisco and i dont think theres a lot of visibility at cisco even if you listen to that Conference Call they were disappointing across the board. You got to pick your spots of where you want to be well dive deeper into each of those Companies Reports ahead. Stephanie will be wit
Wall street watching washington today. Stocks set for a lower open. Google, the banker. The search giant reportedly planning to offer Checking Accounts next year and nikes amazon challenge, the sports wear retailer set to stop selling its clothes and shoes directly to the ecommerce giant. Wall streets going to pay close attention to events on capitol hilld chair powell will testify before the joint Economic Committee of congress and the nation will hear public testimony from house impeachment witnesses for the first time the inquiry surrounding the president s actions toward ukraine, for our purposes, jim, well see what powell says first as we expect him to say the economy is in a good place. Yesterday was a punitive moment with President Trump calling for negative rates and i think that a lot of what lets just call all of our watchers who are in the professional side of things, i think were unanimous in what was that about, thats off the reservation. I think jay powell is immune to it
President trumps criticism . Yesterday the president called for lower Interest Rates just like our foreign competitors. Event that far from now the market opens, interesting on the day impeachment hearings to start, stock prices are out at record highs in the dow jones will be down about 80 points. Closed unchang. Statistically unlikely, but it happened and s p 500 down about a, nasdaq down about 20, no serious selloff at the opening bell a halfhour for now and then there is this, extraordinary scenes from hong kong overnight. Battles on the streets. The city, paralyzed the Central Business district shut down. Schools closed. Its open warfare, a revolt against beijing, serious stuff. You are about to see a important day. We will find out if the democrats really can convince voters that President Trump should be thrown out of office and we will find out if the economy can keep growing in the stock market keep rallying. Varney co. Is about to begin. Stuart moments ago we set it, its open
Officially launching its disney plus platform. Goldman sachs customers, concerned about gender bias allegations, says, quote, we hear you, the bank reevaluating the apple card credit limits billion dollar cost cuts, juul labs set to slash 16 of its workforce. Were going to begin with disney entering the streaming wars, the companys disney plus Service Launching today with a Monthly Price tag of 6. 99 subs will have access to nearly 500 films, 7500 tv episodes, disney has spent more than 3 billion on technology and content prior to the launch. It is a big deal for kevin mayor, in charge of making this thing work and we have seen some technical hiccups here on this first day. Overload. Maybe high quality problem, not sure but i looked at all the offerings, i said to myself, when i had two little girls, i think i would have said, no, i dont have to go anywhere this is it, you go do that, and then i can go watch football in the other room that was my thinking and then the mand loalorian wa
And alphabet reporting next week, how tech is faring this quarter. And a slew of prominent ceos on their way out. Why topicstives are in the hot seat and why boards are trying to make them accountable. Will the fed cut rates again, and how will it affect your portfolio . On the barrons round table, my colleagues join me. So what are we starting with, ben . Tech. Its all about tech, but it hasnt been so pretty at least this past week. No, it hasnt been great for these tech company. Weved had earnings from twitter which were a disaster, and even the ones that werent a disaster werent great either. Investors just dont seem excited about them. I think thats partially because these stocks have been all bad for so all that for so long, and now were asking more of them, and its just hard to actually get that bar. And you have all these other things which have gotten cheaper and maybe a little more attractive, things like financials which are actually outperforming quite a bit over the last fe