Weigh s wider restrictions on huawei road map begins with apples coronavirus warning cautioning it does not expect to meet quarterly revenue forecasts. Shares are sinking and dragging the dow down with it plus big tech needs more regulation. Why Mark Zuckerberg is calling for more scrutiny of facebook. And walmart earnings look to fall short as the whole day season takes a hit well hear exclusively from Doug Mcmillon in a few moments. Apple warns it will not meet prior revenue projection due to the coronavirus outbreak the virus limited iphone production and resulted in weaker demand in china jim was talking about getting hit on the supply and the demand side although that original range was above estimates. So how much are we really losing i think that people dont want to hear this. Everyone that i spoke to the chatter is come on, jim, its really bad i disagree in terms of the rest of the world its gotten better part of what i hear, the work i do dont forget, a lot of Service Revenue
Welcome to power lunch, everybody. Stocks are just off the lows of the day. The dow down b about 200 points. Still on pace for its Third Straight session in the red with apple the biggest drag and gold reaching 1600, its highest level in seven years and utilities leading today on pace for a record close the second best performing sector this year next to tech up 9 for more on where the money is move ng todays market, lets get to bob pisani at the new york stock exchange. Hello, again. Much of damage is cue to apple and theyre worried about krohn kro coronavirus. Exxon mobil, another new 52week low there and also were seeing some of the big global industrials like caterpillar, 3m pretty modest response leon cooperman was saying the the biggest risk to the markets is the u. S. Elections and this is the way a lot of the Fund Managers seem to think bank of america, 150, the biggest Fund Managers in the world. He said that, too. The 2020 election is the number one thing. Were all worried ab
And investors totally shrugging it off. Especially when news came after a possible deal on taxes. Look at this, the dow will open way up about a half hour from know you and that will put it about what, 100 points, roughly 100 points away from the roughly alltime high. Janet yellen had something to do with the rally. Now look at this, too, amazon, the prime day sale ended early this morning on pace for a billion dollars worth of sales in 30 hours. The echo speaker, one of the top sellers, along with dna tests. The stock will open above 1,000 a share. All the big tech names on the way up again. And especially facebook. Keep an eye there, close to a record high. All of them on the upside. So there you have it. A political mess. And a wall street rally, oh, weve seen this before. Varney company about to begin. In retrospect, i probably would have done things different. Again, this is before the russia mania and building it up in the press. For me it was opposition research, they had someth
We will share them throughout the morning, we will see how it works and what you are doing, yes. Even this morning heading out to go shopping. Yes. It could be nice. At this point were expecting things to stay dry later in the afternoon there could be isolated showers so they may want to pass umbrellas. Quick moving system. It should not have an impact. I put the, forecast for today at about a six because we are going to be dealing with some clouds, persistent, with temperatures in the mid 50s. Not all that much to complain about for bus stop buddy. We have a light jacket, or sweater needed for today with temperatures starting off in the 40s by afternoon, again getting in the 50s for black friday shoppers but radar is starting to show as you can see included cover and maybe some isolated showers, moving through, and then again that will increase as we head through afternoon. Thirtysix in millville. Forty in Atlantic City. Fortytwo in pottstown. Trenton coming in at 44 degrees. Black fr
The Worlds Largest Electronics Show in las vegas. Sony using this time to address the cyber attack. I am very proud of all the employees and partners we work with, as well who stood up against some of the extortionist efforts of the criminals that attacked Sony Pictures and its employees. Announcer youre watching Worldwide Exchange, bricking you Business News from around the globe. Just want to get i up to speed on some data that just broke. Eurozone composite pmi coming out at 51. 4 versus 51. 9. That was the expectation versus what we got in november, which was 51. 1. Again, the december composite coming out at 511. 6. We have had the numbers out of the individual countries. Spain came first. That was a good reading, 54. 3 in euro, came up a little bit off the back of that. We then see that sharp selloff as you can see in the euro off the back of the italian number which was 49. 4 against a forecast of 51. 7. Since then weve had french and german numbers. France was 51. 6 against the