2 . Road map begins with earnings from hp a big hit from the stronger dollar. An exclusive interview with meg whitman in a minute. Beat from lowes and from target. Those stocks both higher in the premarket. Hawkish or dovish . Janet yellen day two, heads to the house for her second day of congressional testimony. First up, the dow and the s p coming off record closing highs. The nasdaq aiming for an 11th consecutive day of gains. Better than expected results from retailers, target and lowe and yellen back to the hill for testimony, before the House Financial Services committee. Jim, three sessions left in february. Weve had records on the dow, the s p, the mid caps the russell, the dax, the ftse. Whats left . It all makes sense. When youre in a Conference Call like i was, listened to the amazing cfo from home depot, really is the dean of cfos, and shes tracing out a story which says, you know what people are spending much more on their home and we have homes coming off of renting and b
Exchange as we get right to it steve dudache. Peter Anderson Kelly conley, john kenley and our very own Rick Santelli. What do you think is driving the selloff today . I think its a misunderstanding of this new adjustment in the china markets. Shorting the markets, allowing that to happen kelly, isnt necessarily causing markets to be regulatory in the sense that they will drive prices down. You know shorting doesnt prevent bubbles. And i think everybodys looking at this as a sense that if you introduce shortings to the china marketing with all of a sudden that bubble may burst. If that were the case kelly, look at the u. S. Weve had shorting here for a long, long time. Yet weve still had market bubbles. So i think its a little bit of a misunderstanding. It probably will help price discovery but in general, its just going to make the market more orderly and not necessarily a bearish instrument that most people i think are interpreting this news today. Steve money has been flowing into e
Last time i looked around 2. 5. There it is. 2. 53. Flat looinds. Think theres something happening there and it doesnt happen. It is amazing. A look at europe which has been less than amazing although you can see, mixed picture over on the european continent. Road map starts with yeah, hewlettpackards earnings report. More job cuts coming an exclusive interview with hps meg whitman, on her continued efforts to turn this Massive Company around. Its been a rough week in retail coming to a close now. Another retailer, though, lowers its outlook but the gap surprised to the upside. The secret . Athletic wear, old navy, and the stronger april. Show me the money. Russian president Vladimir Putins working the crowd and moving the market ahead of elections in ukraine this weekend. Hewlettpackard is where well start. Announced plans to eliminate an additional 11 to 16,000 jobs. That is on top of 34,000 positions hp said it would cut or has cut 31,000. This is a Restructuring Plan announced in 2
Lower by 126 points, the s p lower by 14 and the nasdaq lower by 29. Yesterday, though, stocks did get a boost from last months Federal Reserve meeting. The notes are suggesting quantitative easing will likely end in october. The central bank will move slowly to raise rates after that. Today, the focus turns to the other side of the pond. Were waiting for a position decision from the bank of england. Thats going to happen around 7 00 a. M. Eastern time. Bank of england expected to leave its key rate on hold at a record low 0. 5 . As for the u. S. Economic calendar, here is what were watching. Jobless claims expected to increase by 4,000 to 319,000. Then wholesale trade is out at 10 00 a. M. Corporate news, bank of america is reportedly seeking fed approval again for a 5 cent quarterly dividend. In march, the firm revised an okay to boost its way out, but it had to withdraw the plan after discovering it miscalculated capital levels. In other news on the bank, attorney general eric holde
Rails. Maybe the bulls are too complacent. Actually not paying up enough. Byebye byebye byebye. For stocks. Thats how you have to feel after this session. Where the dow is averaging up 19 points and s p edging up 0. 9 higher and nasdaq edging 3. 4 . Underneath, theres astonishment. Astonishment about the prices companies are paying for each other. Not the index buyers for the market. But what private companies are paying for other companies. Lets start with tyson foods. Theyre buying hillshire brands, theyre fattening meats and even more fattening pies. They launched its own bid for pinnacle hillshire foods. Jimmie dean, id like you to get to know wishbone salad dressing and sara lee, you met your competition. Both are moving to block this merger between hillshire and pinnacle. They wanted hillshire themselves apparently from before when hillshire launched its pinnacle bid. Tyson and pinnacle are titans of the fresh and fresher protein aisle. Youll see their stuff if you go to the supe