Porky pig. Overnight in asia, shanghai and hong kong down sharply, some disappointed in that fourday meeting of leaders and bank of england cutting its forecast for inflation. Macys beating profits, affirming on the year. And a fight with kraft ends up costing the coffee giant 2. 8 million. Tesla confirming there are no plan foors recall. Outlines his vision and fires back at George Clooney. And doubts continue to compound about completing fixes for the end of the month on baum care. Revenues beat consensus at revenues are up 3. 5 prgs. The ceo says numbers are extremely strong. Sales trends at bloomingdales doing well. Big name for my charitable trust. Ta Terry Lundgren has been able to go against amazon. In is always whos got the antiamazon game plan. He can move around merchandise. Hes got my macys, the regionalization. If you go there friday night in pittsburgh, you will find steelerlike clothes, raleigh, north carolina, its bow ties and sear sucker. The new york store is doing wel
Gain since july and europe mixed for the time being. Our road map with more bad data from american retailers. Walmart sales and profits below estimates, kohls disappoints blaming on the weather or a weaker consumer. David tepper says theres a time to make money and a time to not lose money. Can you guess what time it is now . Cisco beats as sales fall. John chambers sends the stock higher. First up walmart did report numbers of 1. 10 a share, a nickel below, sales fell for a fifth consecutive quarter. The quarter forecast shy of consensus, weather shaved 3 cents a share off the q1 earnings, and kohls missed with quarterly results. Comps down 3. 4 , but walmart is the real story, jim. U. S. Comps down 1. 4, we were looking for a slightly positive number in this country. Comp traffic down 1. 4, really just not a great quarter. I like to scan these in preparation in coming up in the show and go over the release. Im looking for something positive, something that says double digit. So this
With a dose of past hour, the fed released the minutes from its december meeting. It reveals that policymakers believe they can tap the brakes before the end of the year. Back in january, it would purchase 8500 worth of securities each and every month. A combination of later dated treasuries and Mortgage Backed securities. What does this mean for your money . Lets look at how the markets are reacting to the news. Stocks are holding heavy. We are now down. Down about ten points for the Dow Jones Industrials. Use all that we are slightly lower for the moment. Maybe ten year yields rising sharply. We have not seen 1. 9 in a long while. A totally different story at the currency market. The euro falling through. Some traders consider that numbers to be a parish technical breakdown and strength of the dollar. In the grand scheme of things, so much stronger than were was a year ago. Gold down right now. Twentyfour dollars. The dollar rallies stronger. Silver pulling back by 0. 55. This on the
Mylin labs. Were watching a broad based selloff in technology, and you wonder, kelly, if this is the beginning of this long awaited correction in the market right now. I can tell you thats a lot of the chatter on the floor down leer. Meanwhile, u. S. Attorney general eric holder telling Congress Today he will look into High Frequency trading, something the new york a. G. Eric snyderman is also pledging to do. Will it effectively be criminalized. Really looking forward to that conversation. And the average congressman makes about 175,000 and works roughly 125 days a year which averages to about 2 1 2 days a week. I know im leading the witness on this, but one prominent member of congress is claiming that lawmakers in washington are underpaid. He said that. You will hear it in his own words just ahead. Now, here is where we stand in the markets as mentioned. The Dow Jones Industrial average only needed a couple points to close at a record high. Instead, its giving up 150 this hour. Thats
The ceo of softbank and sprint, chairmen, say the u. S. Internet speed stinks. 15 out of a possible 16. Whos going to fix it and how can you profit . Now go over here, right . Here i go. Were exactly two weeks from the start of the world cup in brazil. And it is a very scary picture apparently down in that country. Gang violence spiraling out of control. Brazilians staging massive protests. Were going to talk to a big voice in brazil who says the country will not repeat not be ready to host this tournament. First to sue at the nyse. Hi, ty. And right now were focusing in on Interest Rates, as you mentioned, but also on the markets with the Dow Jones Industrial average right now up 17 points on the trading session. S p at a new record high earlier today, up about 4. 5 points. Nasdaq composite is up 14 points, onethird of a percent to the upside. The russell 2000 almost up 3 . Gold down. There are many story lines for this hour. Were beginning in times square with the nasdaq and seema mo