Percentage point, up 71 points. Fox Business Team coverage. Gerri willis on floor of new york stock exchange. Phil flynn watching all action, Hillary Vaughn at u. S. Trade representatives office. Start with gerri. Reporter what a day for retail today. We had great reporting out there, two companies reporting, targets and lowes with really positive results, sending the dow up 241 points. The entire sector target, as you can see is up 20 today, after beating on both top and bottom lines. The company out with really, amazing results, raising its full year outlook. Lowes also having a dynamite quarter, up 10 as you can see right here. The company eps, coming at 2. 15 cents a share, versus two dollars. Very good news there. As you can see, these are companies that really appeal to people. Theyre discounters. Really have a lot of room to have broad appeal with americans. After the close today. We will get nordstrom. Estimates there, eps of 75 cents a share. Revenue estimate of 2. 93 billion.
Escalating trade war sending stocks plunging with dow closing down more than 600 points friday following a barrage of tweets from the president threatening to retaliate against beijing attacking Federal Reserve Jarome Powell and ordering u. S. Companies to find alternatives to doing business in china. Lets bring in wall street journal assistant Editorial Page Editor James Freeman Allysia Finley and Columnist Bill mcgurn, james, your friend has a phrase he calls the edge of chaos with trade negotiation including china and the u. S. Where each side seeks to decide who can absorb the most pain. Are we there . [laughter] we should there, also said its like a drinking, you may win but you will get hurt too along with the other guy and thats where we are, you see that in the market reaction. These are taxes, the president interestingly acknowledging they are taxes in one of his recent tweets and big reason why we have seen reduced Corporate Investment in the u. S. And around the world. Paul
We also had gains in yuan lifting currencies. You can see the u. S. 10 year yield at 1. 72. The fixing at 7. 04. We are getting breaking news out of the philippines, another central bank that needs to do something because of the world economy. 4. 25, cut the key rate to following india, new zealand, amongst others. Coming up, we hear from the chief executive of adidas about trade wars and global demand. Now, lets get straight to bloomberg first word news in new york city. This morning, oil is rebounding from a sevenmonth low. Looks tos saudi arabia stem the slide and processes in prices. Bloomberg learned react will not tolerate continued price weakness as oil has been driven down to the worsening trade work and a surprise increase in stockpiles. Pakistan suspended a trade with india and downgraded diplomatic relations after new delhi revoked decades of economy for the disputed region of kashmir. Islamabad says they will take the matter to the united nations. India says the issue is an
Congresswomen actualing the party to extreme left. And call are for of President Trump. Latest turn to Edward Lawrence at the white house. President trump saying that anyone does not like america can pack up and leave, we made those comments defending his twitter war he had over weekend with alexandria ocasiocortez. As well as three other new members of congress. President believes all your democrats hate the United States. I tell you what, im not happy with them, very easy to say, gee, well, its okay. If weak politicians to say, and democrats in this case, if they want to gear their wagons around these 4 people, i think they will have a tough election, i dont think that the people of the United States will stand for it. Reporter House Speaker nancy pelosi said all lawmakers must support a forthcoming resolution in the house. The 4 Congress Women call the remarks by the president , again racist. President trump does not see what he said or tweeted as racist, saying the 4 congresswomen
Congresswomen actualing the party to extreme left. And call are for of President Trump. Latest turn to Edward Lawrence at the white house. President trump saying that anyone does not like america can pack up and leave, we made those comments defending his twitter war he had over weekend with alexandria ocasiocortez. As well as three other new members of congress. President believes all your democrats hate the United States. I tell you what, im not happy with them, very easy to say, gee, well, its okay. If weak politicians to say, and democrats in this case, if they want to gear their wagons around these 4 people, i think they will have a tough election, i dont think that the people of the United States will stand for it. Reporter House Speaker nancy pelosi said all lawmakers must support a forthcoming resolution in the house. The 4 Congress Women call the remarks by the president , again racist. President trump does not see what he said or tweeted as racist, saying the 4 congresswomen