Alley. Im john fortt here at post 9 with michelle carusocabrera, mike santoli, carl quintanilla, and sara eisen have the morning off. General electric, meanwhile, slashing its dividend in half. The first cut since the financial crisis, and its shaking up its core business shares sliding right now down more than 4. 5 Morgan Brennan is at ges investor day in midtown manhattan and joins us now ge cutting its dividend by 50 in what is from a dollars and cents perspective the biggest reduction ever by a company excludeing the financial crisis, but the street expected that thats not why shares are falling right now. Why shares are falling, because of the guidance, so new 2018 eps forecasts, a dollar to 1. 07 per share, Free Cash Flow 6 to 7 billion, also disappointing, lower guidance and as one analyst just pointed out to me, the 6 billion in Pension Funding next year is excluded from the disappointing eps forecast meaning, the numbers may be worse than the optics are suggesting so one key d
He had an obvious win on his hans and he punted and didnt take advantage of it. Nasdaq gained. 03 . Accountability at last . The money manager in question was warren buffett, and maybe the take away is that only the worlds greatest investor can afford to make a mistake. Everyone else must be too secure to do the same thing, because theyre all making them. It rapt at everything buffet said over the weekend. When he told us what hes looking at, what hes thinking, way he he is a done right and whats done wrong. He and his team, including the incredibly youthful 994yearol charlie mugger particularly the companies he plat flat out acquires wholesale. Before he go over buffets selfadmitted gaffs. This is a man who believes in america, who believes the future is brighter than the past, and he likes business es he can buy for less than best of breed companies. He can afford to take his time and get it right. Because the penalties for getting it wrong are very high. He values hard work and smar
Decline in oil prices and tumult in washington, that stocks would be at or near alltime highs, would you believe them . Thats exactly where the markets are today. The nasdaq and s p 500 pushed further into record territory. And with two trading days left in this month, it appears as if investors decided not to sell in may and go away after all. The dow finished down two points to 21,080. Nasdaq added five, thats a record. The s p is up fractions al ally thats a record. Stocks saw solid gains. Bob pisani looks at why nothing seems to be rattling this market. Reporter markets are not people, but they do have moods, and the mood right now is i dont want to hear it. On reports that former fbi director james comey had written a memo alleging that President Trump asked him to drop an investigation into michael flynn. Concerns about obstruction of justice were raised at that time. But the next day, the markets acted like it was no big deal. A week later, the s p 500 and the nasdaq rose to rec
Roll back road blocks. Governing wall street wont be easy but it can be a windfall. And the biggest challenge sitting in the white house. Those stories and more on nightly Business Report for february, february 6. Good evening. Curb your enthusiasm. Thats what wall street appears to have done, at least for today. The muted trading follows concerns that the Economic Policy agenda may not get pushed through as quickly a hoped. The markets moved higher simpson early november has been pegged to the idea that policies and Infrastructure Spending would be high on the to do list. That is now in question. The dow jones fell. The s p 500 was down 4. According to the wall street journal, that index has not experienced a daily move of 1 or more for 35 consecutive sessions. The longest streak cynic 1974. House Speaker Paul Ryan recently said tax reform wont be looked at until spring after the budget passes and then an interview yesterday, President Trump signaled the time line to repeal and replac
Level since july, and on some levels the british pound falling to its lowest level against the dollar in decades. Could this Dollar Strength ultimately be bad for u. S. Stocks . Kate moore, what do you think . One of the things we were excited about in the second half of 2016 was the lack of the headwind from a much stronger dollar, and here we are getting a little bit of appreciation. I would note that the trade weighted dollar, not just the dxy index, actually still significantly weaker than at the beginning of this year. I think speculators got turned the wrong way. From a positioning standpoint, i think everyone is getting back to what their thesis was. I do think ultimately it could be problematic. It could be problematic in a couple of areas. You would like to see a cheaper dollar. The rate of the increase is also problematic. Then lastly, whats the impact on emerging market currencies which well see outflows and well not well have a deappreciative affect on their currency. Dont