For u. S. Steel teslas awful august rolls on and the casino stocks crapping out, after a monster heater. Im melissa lee, this is fast money, live from the Nasdaq Market site. And we start off with a surprising reaction to a pretty disappointing earnings report. Shares of target rising nearly 9 immediately after posting q2 results. The stock closing off those highs, but still up nearly 3 on the day. The move despite some big negatives in the numbers the company reporting its biggest revenue drop in seven years. First samestore sales decline in six it slashed fullyear revenue and profit guidance. Still, even with todays gains, target is far underperforming its retail peers, down over 13 versus double digit gains for the likes of walmart, which reports tomorrow morning so, does targets warning raise a red flag for the entire consumer space or is this a targeted issue karen, what did you make of these numbers . I was surprised at the reaction we talked about this in the green room it wasnt
City this morning, good morning. For our audience worldwide, this is bloomberg surveillance coming in to wednesday with the nasdaq at alltime highs. Equity futures just about positive. Your lineup looks a Little Something like this. Cpi data in america alongside u. S. Retail sales Neel Kashkari, nikki bowman with a lot to say about this inflation backdrop. If they really want to give some sort of hawkish message this market is not listening. They want to rally on the disinflationary pivot regardless of the data it gets. Fed chair powell yesterday coming out saying hes less confident in the disinflation narrative we are seeing near alltime highs in a massive rally in bonds. The consensus is overwhelming. I was going through the estimates. 68 estimates into the survey. 63 of them have put down 0. 3 percent for core cpi. Annmarie we also have retail sales which a lot of people are saying might be more important because we get three point whatever it is on cpi. The fed needs to see consist
6 00. Good thursday morning to you. Thanks for joining us. I am laura garcia. And i am marcus washington. We want to get right to the heat which should be extreme for some parts of the bay area. Meteorologist, kari hall, has been monitoring all of this. The temperatures are looking nice right now but we are seeing them ramp up today. Absolutely. This is the time of year where the coastal areas as well could reach into the mid80s and 90s. Temperatures starting out in the 60s for martinez. Its 66 in san jose. We know its going to be a hot day, and heres a look at how hot it gets with widespread 90s across the bay area. The good thing is we are not seeing really extreme winds, but still an elevated fire danger as we get low humidity and highs reaching into the mid90s for much of the north bay, and upper 90s in san martin, and then upper 90s in concord. San francisco near 90 degrees as well. We are going to be tracking this and all of the Outdoor Activities lead into the weekend. Thats com
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