The tape in the hour ahead. Joe is today a day to sell stocks . On this rebound of sorts . If you are an investor, then i think over the first couple of weeks of september, you want to take cash levels in terms of equities holdings, somewhere 20 , 30 . Im fine with that. I think the market is in a vacuum right here for an investors portfolio, yes, i would be modestly raising cash. If you are a trader, and i think what land on friday and whats happening today is a trading event. Then youll be using options and hedging etfs on volatility and things of that nature. The play of the market over the next couple of weeks. I think thats more a trading circumstance, and i think whats going on in the market right now is a trading event. Lets just put this out right on the table right now. I any yellin has the votes. I tried to dissect them. Its up behind ow the wall. Foels, what we are looking at is my best guess of who is where, if there is a rate hike on the table. I would is stan fisher and e
Three hours left in the trading session. The dow is down fractionally, 57 points down. 3m, verizon and chevron are your laggards. A couple of dow stocks are up, however, there is one massive move out there. Not in stocks. It is in gold. Gold is trading at a threemonth low, it is down 35 an ounce. As you might imagine, gold miners also getting wha inting they are deep in the red at this hour. Google unveiling a new phone at a product event under way in San Francisco. Google says the new phone costs 649 and has unlimited storage. Delta posted a smaller than expected drop in passenger unit revenues for the month of september. And sears popping within just the past two hours on reports that bids for the companys draftsman unit due by the end of this month. If you are a retailer or a shopper, this may be the most important number in the show. 81 shopping days left until christmas. A new report by the National Retail federation telling us that santa claus is coming to town this year. Courtne
Worst week in ten. Draghis comments dont add anything new. Rolls royce has a warning. Oil back below 44. Copper to a new sixyear low. Macys sending shockwaves through retail. Its not all brands. A big beat this morning from kohls. Well have an exclusive with john malone in a moment and apple reportedly diving further into payments. Pay pal and Google Wallet may be on notice today. First up, kohls up sharply on better than expected quarterly results. Comps up 1 . Retailers citing strong backtoschool sales. Comes after macys reported the weaker sales and guidance. Comps up better than estimated. Inventories up 5 but still sequentially better. The take is, given macys, this is pretty solid. There was a time when 1 comp growth would be something that i would turn to you and say, wow is that pathetic. People were looking for 1 comp growth and they gave it to us. Was it kohls has one advantage. They dont have a giant flagship store. Kohls is also trying to differentiate some of its products.
Divide at the Federal Reserve. But we do begin with fears about the worlds biggest retailer. Shares of walmart tanking right now after cutting its threeyear outlook. Were currently down by 8. 3 at 61. 16 a share. Walmart executives meeting with analysts at this hour, as we mentioned, and Courtney Reagan has all the details of it. Hi there. Walmart investor meeting, the analyst q a wrapping up, the group asking for more clarify on the warning on longterm guidance but not much more clarity was given. Executives highlighting that the Major Investments they continue to make for the earnings per share impact. Fiscal year 2016. Walmart now expecting sales growth to be flat due to Foreign Exchange impact. Also for 2016, reiterating the earnings per share guidance of 440 to 470 but 2017, thats when the he have yet guidance comes in. Eps down between 6 and 12 from prior year, walmarts guidance given. The impact really lies in the fiscal year 2017. Walmart says its the second year of heavy inves
Of course, the jobs number next week. We begin with good, not a great. Thats how one group is describing black friday retail sales. Live checks from malls across the country. Plus, a lawsuit against Sumner Redstone making some shocking allegations. Well have more on what that means for viacom and cbs and their response. And Vladimir Putin saying he will cooperate more with the terror fight in syria, but the war of words between russia and turkey continues. First up, though, black friday has arrivinged, one of the biggest shopping days of the year. Good but not a great from Customer Growth partners. Also seeing an increased trend of shoppers earlier with retailers opening the night before. The nrf says 22 of consumers expect to shop on thanksgiving day, up from 18 last year. Out of the stores, adobe predicts a record 1. 7 billion spent online. 3 billion on monday. In fact, theres a sense that because so much of the shopping, guys, has shifted to online, essentially customers wait for mo