Deal to buy the company could come in next few days and theres a third bidder enter the fray walmart, wait, what. Thats right we have the details walmart entering that one. The sports world at a virtual stand still. The nba pauses playoffs to put a spotlight on Racial Injustice in america. The Houston Rockets owner will join us. Well talk about that and the hurricane as power lunch starts right now thanks stocks are giving up sol me of their early gains. Bob has the latest for us. Banks and health care are leading but most Everything Else is down. Sell off in the middle of the morning. That as an attempt to take some profits on tech stocks these sell offs dont last long. Look at the triple q here in is the nasdaq 100 at a new high its a rule here it goes up for four days and maybe down one day we have seen this for a couple of months now. Here you see the teams to sell it off it doesnt last very long. Theres been a lot of people arguing, look at the megacap tech names its time for a pa
Tech bouncing back microsoft and alphabet up sharply. Plus the Biden Administration is awarding micron 6 million in federal grants to boost production of chips in the state of new york and idaho. Were going to discuss all that with microns ceo. Hes live at post nine and the oil giants, exxon and chevron, both posting lower First Quarter profits. Mike wirth will join us this hour well go over those results. Lets begin with the markets and this mornings inflation data, highly anticipated, jim, not just core pce but best couple of months on spending in about a year look, this is a front frontsybacksy day versus what we got im going to mention somebody. You tell me if you agree pangloss pangloss. Panglossian number. Were taking the s. A. T. This morning . Thats where youre starting the show today on this friday in late april you want to explain that to everybody else the bonds are right i have to tell you, carl, last night im sending a note to ruth in the middle of the night, fantastic. Al
Short period of time the investigation caused traffic to back up but people say thats understandable that all that matters the police catch the person or people who did this this craziness and his people result of violence to get things done. We just need all this togetherness peace was possible in Newport News Police brown thirteen years now a three year old boy from suffolk is recovering this morning after being injured in Accidental Shooting Police say that happened on jonathans way and apple wood farms last night investigators say the boy found a handgun that was kept in the home for protection and accidentally shot himself in his shoulder. Medics treated the boy on scene then flew him to sin tear norfolk general. Police say that he is expected to be ok switching gears now to the windy weather outside of those wind gusts making it really hard to warm up craig is here now in the weather lab with the details the winds really kick in especially near the coast around the Eastern Shore
One of the key issues this election season. Weve got a debate on whether strong jobs data has been you 00 hiding economic weaknesses. After the bell, a read with American Express, united continental, qualcomm and more. Just to name a few. We begin with oil hitting a 26year high as the president meets in saudi arabia. Just under 43 a barrel today. Significant. Its not as low as we were earlier in the year. 26. Its still not at the 60, 70, 80 that people are talking about. Oil prices are still low. Theyre going to stay lower for a while. And that is causing problems for saudi arabia. And the problems, the kingdom had to slash its budget. We know that. Its also coping with a shrinking gdp. It quietly sold some bonds for cash this year. And downgrading the sovereign and downgrading seven of its banks. While theres also been a struggle to keep cash reserves at a certain level so the Saudi Arabians can keep their currency to a dollar. The ipo looks like its going to have a speedier time line
Results that came in significantly below expectations. Sabmiller rejects inbevs takeover offer saying the 42. 15 number is still below what they want. First up, yum brands will take a hit in the premarket. The home of kfc, pizza hut and taco bell missed with Third Quarter results. Greg creed says the pace of recovery in yums China Division is below expectations. In q3, we were looking for a 9. 6 number. They used the words unexpected headwinds, despite everything we know about what is going on there. Lets understand i know david tweeted what does this say about china growth. I say what does this mean about execution . Nike is selling a lot of shoes there. Starbucks has had a fantastic run. Apple is selling well. Samsung, verification of that. Samsungs business strong with apple. This is inexplicable. I think people are tired of it people are tired of the breakup story, the sum of the parts, when will it happen . You dont break a company up when the business is bad, because we just get