Also, is obama man Larry Summers really jacking up on rates and knocking down stock prices . Will he really be a tighterfisted fed chairman than janet yellin . The markets seem to think so. But wasnt summers the big trilliondollar stimulus spending guy in obamas first term . And speaking of fears, has team obama totally botched the egypt situation . There can be no compromise here, folks. American interests lie with the Egyptian Army, not with the radical and terrorist Muslim Brotherhood. All those stories and much more coming up this evening on the kudlow report. Beginning right now. Good evening, everyone. Im larry kudlow. This is the kudlow report. First up tonight, after delivering a number of Economic Growth speeches this summer, president obama has still failed to provide any Economic Growth message. In fact, the tax, spend, and mandate obama care plan is a huge drag on the economy. And on top of that the president s idea of Corporate Tax reform is really a tax grab for all his p
The dow is down 36 points. Were off the lows of the session, and were keeping a close eye on the yield of the 10year note, which has been approaching 2. 9 , which traders keep telling me could be a negative trigger for this market. Thats the big issue, schbt it, 2. 9 on the soyear. Volume on the low side. No surprise. Were into august, end of august. Target, j. P. Morgan, though, the worst dow performer. The government is reportedly looking into the firms hiring practices in china. Is j. P. Morgan in the administrations cross hairs forever now, and if so, we will have analysis. And facebook may be redfaced today because the Facebook Page of mark zuckerburg, yes, the Mark Zuckerberg, it was hacked. If his page isnt safe, is anyones . Its yet another blow to internet privacy and security, and well have much more on that story still to come on todays program. Scary stuff. Lets check the markets as we approach the final stretch. The final hour of the day, the Dow Jones Industrials average
His stake in energy producer, chesapeake energy. He owns just shy of 10 of the stock according to regulatory filing. Liz the firm upgrading the stock to overweight saying that the retailer should see growth in the midteens in the future. Ashley investors keeping close eye on egypt as the violence showing no signs of ending. Government killing 25 killing of defend five Egyptian Police officers near the border with sinai near israel. Liz order for 60 new fighter jets. Who is ordering . South korea. Sources say the u. S. Aerospace giant undercut rivals in the bidding war. After the bell starts right now. Ashley lets get right to todays action. Jason pried from pride from glenmede sees the market grinding higher and he has three ways to make you money. Joining us from the pits of the cme, joe cusack. We drifted along in typical august fashion but suddenly saw a big spike on the 10year yield, didnt we . We saw it get mortgage of 2. 89 . When you see the 10year move like that bond prices sta
11. 4 . Lets do 1. 24 is the number that were looking for, which is 3 cents ahead of expect takings on sales of 22. 5 billion, which was 700 million ahead of the 21. 8 billion estimate. The company is looking for 2013 of 2. 60. The street is already at 3. 64. Since there is three cents ahead already, andrew, that doesnt necessarily, you know, they beat by three cents in this Second Quarter, so to boost the fouryear is not that to say theyre raising doesnt really help. Depends where analysts already were, right . They do see fullyear sales up 4. 5 . The fullyear number is 77 thats a big number. It looks like the sales are going to normalize. Quarterly same store sales of 11. 5 and coming down to 4. 5 for the full year. Those are same store, not total sales. Right. If theyre adding stores, yeah, got to be even worse. And then, right . Same stores is going to be different than once we saw the number western did see the sto we did see the market come down. It is hard to say. 72, 26, 97, wi
There. But you really do see some opportunities. I really do. Its interesting, we talk about the jobs report, 158, good or bad. We talk about gdp, minus one, plus one. All that is a power point. Our economy is sluggish today, and theres no reason for it. We have a wonderful country. We have great resources, we still have a free world, the opportunity to move forward. Heres my message to the leadership in washington, get in the game. Thank you. Join us on monday. Have a great weekend. Squawk on the street starts right now. We have breaking news on this jobs friday. Welcome to squawk on the street. Im melissa lee, with Carl Quintanilla and david faber. Were closing in on 14,000. A leg higher in futures just moments ago. The dow looking at 112 points at the open. The s p 500 looking at about 11 at the open. Of course, this is after the best month for january, since january of 1987. As for the picture over in europe, taking the lead from here in the United States in terms of gains, we do s