Shares of nordstrom down about 15 in the premarket, penne yerkss taking a hit. Well break down whats really happening in the sector. Donald trump launching another attack on amazon and jeff bezos. Trump saying when it comes to taxes, amazon is, quote, getting away with murder. Apple ceo tim cook told cnbc hes very optimistic about china and putting his money where his mouth is in a big way. Well look at the Chinese Company apple just invested 1 billion in. But first up, Government Data shows retail sales up 1. 3, surge led by autos, gasoline and Online Retail. But theres more Department Store pain on the earnings front. Both penney and nordstrom tumbling. At least eight firms cutting their price targets on nordstrom, which misses by a large margin 26 versus 45. Revenue was light. Comps down 1. 7, but the lesson here is that even retailers of that income demographic are not immune. Everybody at the mall was out of position, no way to put it otherwise. If you think of the three drivers o
With the presumptive gop candidate donald trump. Part of the republican establishment then paul ryan. The 2012 vitaminnal candidate now the speaker of the house jumping into the spotlight one day after the billionaire businessman moved even closer to officially clinch in the nomination by winning both nebraska and virginia. How much does donald trump need . Paul ryan maybe he doesnt. Meanwhile senator Bernie Sanders continues to be quite the thorn in the side of Hillary Clintons winning last night in coal country. Thats Bernie Sanders 19th victory, folks. We will ask our Political Panel exactly what the foreclosure new york senator needs to do to move on to the general election instead of having to battle two sanders and trump. Were joined by former senator byron and greg. We are live hear at this massive sky bridge alternative conference in las vegas. What we have, folks, is a gathering of some of the best and brightest minds from all walks of life. Youre talking about former treasury
Julie see more selling pressure start to build up. Closer to record a couple of days ago. All three averages pushing toward the lows of the session. Still not seeing huge declines. The nasdaq leaving toward half of 1 as investors await fed minutes. Comments from bill dudley yesterday that september could potentially be on the table. Lets take a look at the two day chart of the s p 500 as we see the backtoback pullback going back to the beginning of august now amounting to about 1 . We are still on the streak of no one percent moves on a daily basis. I believe it is 28 sessions now unless something changes radically by the close of trading. Take a look at the imap. Some subgroups are in the green. , materials, Consumer Discretionary amtech are doing and tech are doing worse today. See the at t down. Verizon and frontier as well. Bloomberg intelligence saying we are not going to see as many bid or as high as had been expected unclear what that means for the spectrum ownership by the vari
But were holding down the fort. Japans nikkei reopening after yesterdays Public Holiday and it plunged. 4. 8 . It closed at its lowest level since october 2014. The index is down in seven of the last eight sessions. That is coming as the yen has been rising against the dollar and it comes after yesterdays big selloff in the u. S. This years lowses have erased nearly 1. 8 trillion in value for investors just on that index. The s p is down 10. 5 since the first trading day of 2016. But u. S. Equity futures are rebounding this morning. Part of that is because of firmer oil market. Take a look at what crude is doing. It is bouncing back today following Late Afternoon comments by an opec Energy Minister from the United Arab Emirates that sparked hopes of a coordinated production cut. And though weve heard this story before and havent gotten anything out of it, the markets are interpreting that as a positive. Wti he crude currently up nearly 4 . 27. 21. Brent is sitting above 31 a barrel, up
Im francine lacqua. Weve had quite a lot of volatility over the last couple days. Asian down, european stocks rebounding after declines as investors speculated that we will get more stimulus from the ecb when mario draghi speaks tomorrow. I want to show you banks. There is more concern about the impact of negative rates on the banking sector. Yen at 112. 53. The yen is the worlds is performing currency this week. Losses set off by disappointing trade out of china. Breaking news out of norway. Just releasing its 2015 report. 2. 7 unds return is about in 2015 as the stocks overall have gained. There were previously burnt by the price of oil. Now they are saying this 2. 7 return is not bad. We will break down the figures and of course bring you any further breaking news has the norwegian wealth fund. Lets get to the bloomberg first word news with nejra cehic. Nejra Bernie Sanders scored a surprise win over Hillary Clinton in the Michigan Democratic primary. He overcame a doubledigit lead