Shares of dow component nike rallying today after the company said it expected sales growth to be in the high Single Digits over the next five years the Company Holding its investor day investors are liking it so far so far. And mark parker will be joining us in a rare and exclusive interview to discuss more about his plans for growing revenue for the sportswear giant. Its the best performer in the dow components today President Trump said earlier this afternoon the u. S. Desperately needs tax cuts well talk about that and more, Congress Secretary wilbur ross will be here post nine joining us exclusively coming up in a little bit good lineup of guests. We have a good lineup today. Lets get to the top story. The market selloff continuing today. The major averages off the low right now but the dow was on track for the worst day since early september. Lets bring bob in here look whats driving the move lower today. Hello william finally volume and volatility and we should have it because w
Plus the dow and s p were set to rebound from what was the worst session since mid may. Despite an improving ipo pipeline blue apron ahead of the nysc debut tomorrow. Senate republicans hoping to get a vote on the Health Care Bill after the july 4th recess that fols the decision to postpone a vote amid gop senators passage of a trump care bill seems unlikely due to political obstacles. Goldman says quote estimates of the potential increase in the uninsured population seem unlikely to improve even after revisions to the bill. Public support is weak and divisions appear to pose too many obstacles people trying to make arguments what could bridge some of these divides. More help for opioid addiction but others argue its just too wide. Theyre pushing back on it, anything comprehensive that would represent an overhaul of the aca and its funny because its echos more reasons to talk about tax reform too were not going to get a big comprehensive reform package so its interesting. Obviously the
And welcome to power lunch, the bears are out today. The dow and s p 500 having their biggest oneday slide since the beginning of july. The s p 500 in fact falling below its 50day moving average for the first time in a month. Wall streets socalled fear index, the vix soaring hitting the high in five weeks gold meantime, hitting a twomonth high retail to blame. Macys is down 9 . Kohls and dillards also getting whacked. Jc penney being taken down here, brian. We begin with your money and investments. North korea, of course, grabbing all the headlines, but the defense stocks are mostly lower today and apple is the biggest drag on the dow. So is all the saber rattling really to blame . Live in washington with the latest on north korea, bob though at the nyc, bob, let us start with you how much are you hearing is north korea, is valuation, or maybe just a normal, healthy august pullback . You know, id say 75 is concerns about north korea, but we do have some High Expectations on the earning
Maintain peace. That could be expensive and risky. Whats interesting is some people call it hate. Some people call it conservative. Some call it free and clear speech. Wheres the line here . Reporter thats an interesting question. We are no stranger to demonstrations here in the bay area. Some of them have turned violent, as well. Attacks on property, attacks on police. I guess would you say its in the ear of the beholder. If you consider it hate speech and it is, then you can make your voice heard as well and thats what politicians are doing to the interior department to try to get it pulled here. In the ear of the beholder. All right. Phil matier live in crissy field, we appreciate it. Thank you. A Memorial Service was held today for the 32yearold woman killed during the protest in charlottesville. Heather heyer was killed saturday when a car ran into a crowd of people demonstrating against the White Nationalist rally. Family and friends took turns sharing stories about the woman the
Sizzle. It may have been due in part to comments made last night by the president. He says hes ready to shut down the government unless Congress Passes funding for a border wall with mexico. One analyst called the comments unsettli tt n that theyre not good for the investing environment. The deadline to pass a spending moisture is at the end of next month, while at the same time lawmakers face a deadline to raise the nations debt limit. Thats a much more serious issue for the market. Today the agency said the countrys aaa rating is at risk. The dow is down to 28,812, the nasdaq lost 19,000, the s p lost 8. Attention today also turned to jackson hole, wyoming where central bankers are getting ready to meet later this week. And the gathering comes at a critical time for investors. We explain. Reporter it was a quiet day, but the trading action could pick up later this week when the Federal Reserve meets with global central bankers for their annual jackson hole symposium. The focus will b