Can you guess what company just passed facebook to become the second most downloaded app in the world well goat you the answer a bit later in the show. Its a busy hour were kicking it off with target missing the mark a once red hot retailer posting the worst day since november 2018 after reporting sluggish electronics sales. Target which had been a bright spot for the sector and market in general joins kohl as jcpenney five below and l brands failing to meet holiday expectations. The xrt, the etf tracking the group, down more than 1 to kick off the year. Guy. Yes, zwlier do you think there are cracks in the consumer showing . I dont think its an indictment of the consumer at all. I think in this case one off misses we have have a consumer conversation but i dont think its about target the stock went from 80 to 130 in a Straight Line and finally valuation catching up to walmart compsy disappointing you cant say they were not. They reiterated Fourth Quarter guidance and margins down. Sto
Quote, took proportion gnat measures in selfdefense under article 51 of the un charter targeting base from which cowardly armed attack. President trump tweeted, all is well, missiles launches from two military bases a sassessment of casualties and damages taking place now. So far, all is well. I will be making a statement tomorrow morning, meaning this morning. We are awaiting word when to expect that statement from the president. Stock futures initially sank with the dow pointing to more than 400point loss today. Futures have paired those losses now dow futures down a few points even with those declines, the dow only down by six points. Along with the nasdaq and s p. S p was down over 50 points overnight. Right now, you are looking at positive territory for both of those. Whip saw action in crude oil oil for wti up to 63. 02. Gold prices briefly touched 1,600 overnight you are going to see 1,582. 5. The boeing 737800, not a max, crashed in iran yesterday the jet went down moments afte
Wall street is poised for a higher open. The historic impeachment of President Trump. Secretary mnuchin will join us exclusively in the next hour. We will discuss the postimpeachment economic agenda between now and the election the house readying that vote on the usmca, an important trade agreement. Plus, chips are continuing to outperform the rally the ceo will join us in squawk ali and iac is spinning off an online match group, all of it, shares are climbing ahead of bell now you, we begin, of course, with the market, one day after the impeachment of the president. Its an interesting evening. Yeah, it was. You know, david, this is the beginning of an under performance period if we find if we analogize to clinton. The only difference is that there were democrats who joined republicans in the impeachment process because they thought it was a cut and dry violation the lying about the section act. It was one count of perjury about lying about the sex act. You said there was a little more
Growing up. You were just too busy and too fabulous. Too busy. Too busy. Cheryl its a fabulous friday. Welcome to fbn a. M. Good morning. Im cheryl casone. Tracee good morning, im tracee carrasco, in for lauren simonetti. Last friday of the decade, of the year, my goodness. Cheryl it is. The last friday were going to see marc markets trading and, w, its incredible what the markets have been doing. This morning, after all major averages hit yet again new records on thursday, as you can see the dow is up 64, s p up 5 in the premarket, nasdaq up 22. Any gains today means more records will be hit. Strong holiday sales, the fed cutting rates this year, less regulation, trade tensions easing, all of these things have been market positives for the year. Tracee lets take a look at stocks in asia, mixed after that record day on l wall street. Nikkei and shanghai pointing lower. Europe, we can see gains across the board. The ftse up by 30, cac up by 17, dax up by 33. Cheryl following us here. An
Today, along with utilities. The dollar index weaker. Lets get to the markets now. Joining us in studio is Dennis Debusschere, evercore isi head of portfolio strategy. We have a great piece on the bloomberg today talking about the decade beginning with everything crumbling and a lot of panic, and now we are heading into a new year when apparently nothing can go wrong. Dennis i think part of the reasons the market is acting like that is because people think everything is going to go wrong. That has created what we call the silent melt up. This is actually related to the fire and ice title, which i think is excellent, because there has been a complete change in the relationship between bonds and equities. Bonds are longer duration assets as they had against lung equity exposure globally. That is usually a deflation hedge. Deflation was not something that existed preGlobal Financial crisis. There areist now, and only three Asset Classes you can hedge for deflation. That has anchored 10 ye