Outlook. Why is the stock moving higher in the premarket . Mcdonalds ceo with a vote of confidence from the board. Whats coming at the fast food giant as we hear from the chairman. And a watershed moment for twitter ceo. It is twitters investor day as yahoo Ceo Marissa Mayer faces questions of her own. First up, macys reporting Third Quarter earnings, 61 cents a share. Revenues do miss as comp sales down 1. 4. Macys also reducing sales growth forecast for the rest of the year. The ceo says he remains optimistic for the rest of the quarter. They hold margins pretty good in this environment. Inventory is up but not by a lot. Macys is a tight ship. You can look at the socalled forecast and say this is not an aberration. Theyve repeatedly done this. Theyve cut forecasts, so to speak. You go through and see big buyback, optimism, easy comparisons. You see theyre not spending nearly as much money as you would think to get these sales. You take a look at the multiple on number of, say, foreig
Housing sector remains slow. Of the fiscal policy is restraining Economic Growth although the extent of restraint is diminishing. Inflation has been running below the committees longerrun objective but longer run Inflation Expectations have remained stable. The rest of the statement is almost identical to the statement in march. I will skip ahead. The fed cut bond purchases to 45 billion a month from 55 billion. It is maintaining the federal fund, shortterm federal funds Interest Rate at zero to quarter percent. Its Forward Guidance, qualitative Forward Guidance is the same as march. So i will skip that, the vote for this one, melissa was 90. Back to you. Adam peter barnes, thank you so much. Dont move. Stay with us. Lets bring in charlie gasparino. We have former dallas fed chief economist, michael cox. Lpl investment strategist, anthony valari and economist steve moore. Anthony valari, let me start with you, what did you think about that . Pretty much as expected. I think this meetin