Emergency meeting. A Chinese Pharma Company wins approval for human testing of a vaccine. Governments around the world starting restrictions to slow the outbreak. The virus threatens to weaken chinas economy even further. Our review of the latest for the slowest and the end of the cultural revolution in 1975. Shery lets get you started with a quick check of the markets close. It was another down day. The rebound we saw in the previous session, we are talking about the s p 500 and dow and nasdaq all going down the s p 500, every sector was in the red. Energy was the biggest decliner. Oil sinking to a 19 year low. When it comes to the dow, losses of about 36 since the peak in february. We continue our way down. Weve heard about a second stimulus package coming from the trump administration. This was after the close ended during the trading session. We saw volatility Circuit Breakers also being. Possibly another down day. Asian stocks and futures trying to climb. We have taiwan, philippin
Hour dow down by about 40 points, nasdaq up about four points. Watching the treasury market, youll see the yield for the 10year is at 1. 875 we have a big dip in the bri british pound. It fell more than 1 the government is looking to make it illegal to extended post brexit exit period theyll have to the end of 2020 for the transition period. Thats the time the eu will continue to apply if still a member Boris Johnson wants to cap that period to just one year to help fast track a trade deal with the eu looking past you phil to phyllis here boeing is down five, so it is flat again yesterday, we would have been up a lot more boeg is suspending production. Boeing plans to reassign workers and doesnt expect furloughs or layoffs but it will have ripple affects and impact thousands of jobs over a ripple across the supply chain it is not going to hike. Phil is on set with us it is better they can save some money. I cant believe you could build four of those in a month, which tells you the size
6 00 here are the results just reporting. 2. 53 a share. A penny above estimates. Just short of 27. 52 billion here are the keys for Guidance Company now expects sales to grow by 1. 8 the previous guidance was 2. 3 1. 8 versus 2. 3 comps are 3. 5 previous guidance was around 4 . Lets bring in senior analyst. So the Forward Guidance is below where it was previous . Yes quickly looking at these numbers, there was a sales miss in the quarter also lowering guidance for the rest of the fiscal year. Sales guidance Sales Guidance. Im not sure whether that is a total company or domestic. The street was around five that is a point and a half the street is a full point above where the company had guided the company had guided four. For the quarter ill look at the quarter first the street was around five for the year, the company had previously guided for four they missed roughly a point, point and a half in q 3. They are taking guidance down about 50 basis points. The real message here. It is a
The Halftime Report started right now. Welcome. Good to have you this thursday jim lav leventhal, the brothers najarian, we have a big show first we want to get to Steve Liesman who has just sat down at the table with what the fed may do in the weeks ahead. Yeah, scott i think the story has to do with that a pause is coming and the question becomes when its coming i think theres an oddson bet that the fed is likely to cut in october. But its a massive cut and if they cut in october, is the market thinking about that the fact that there would be some kind of pause and powell has signaled this several times publicly hes talked about the 1998 cutting regime three times this will be the third time. I will tell you, the comment yesterday from charlie evans, a guy who has been massively in favor of rate cuts, he said i dont push any cuts the rest of the year match that from tweets of others, too. And kaplan said said im agnostic about additional rate cuts and there was a speech by powell, ev
Year increases after reports that budweiser will delay sending it lower. And shares plummet to their lowest level on record after it reveals its in talks with china over a 750 Million Pound rescue plan it comes by so quickly every single month the decision, they say their output agreement does not change the output of an oversupplies market that is according to the International Energy agency. So in its latest report the iea says supply exceeded demand in the first half of 2019 and that rebalancing in the oil market has begun to slow. As ever, lets bring in nei neil atkinson. And just reading the major take away from the report is that essentially oil supply the first half of the year has exceeded demand you say that that number is 900,000 barrels. So despite opecs best efforts we still have the supplydemand mismatch we do thats a mismatch thats actually grown as new data has come in. And through the rest of 2019 well see how the demand issue plays out but as we move into 2020 the outl