Later, stop trading. Thats the message to the aging generation well tell you why it could be a warning sign power lunch starts right now i feel so good being part of the aging generation yo boomers out there im standing tall with you all here is where we stand stocks are taking a breather from record highs. The company gave a grim out look saying its facing increased economic pressure. We dive right in now with walmart. The retail giant and d ow component hitting all time highs. Same store sales strong. Online sales surge 41 and they are seeing strong growth in snacks and beverages and fresh food digital and grocery Growth Drivers are the key. Does the stock still have room to run lets talk about that. Groceries have been a big driver theyre the largest grocer in the country and not by a small margin now they are going to orders and delivery and they will put it in your refrigerator. Sure. 56 of walmart sales in the u. S. Come from grocery. Just to put that into p perspecti perspective
Good evening,on eve welcome. Well, it was a record run on wall street this week. The major indexes breaking thugh alltime levels multiple times, led, of course, by Federal Reserve chair Jerome Powells capitol hill testimony mi where he signalled an Interest Rate cut or cuts might be near. In the end welose it out with triple play of record closes. The dow rose about 244 points to 27,332. The nasdaq climbed 48, and the s p 500 added 13 and closed above 3,000 for the first time. All threendes were solidly higher on the week. And while we sit here at record levels, the market will be turning its attention to earnings season which gets under way in earnest next week. Bob pisani tells us the one thing investors mt keep an eye on. Eerarning season is upon us, citigroup kicking things off on monday. For investors it will be about guidance. Prayerfully the second half guidance will be cautious and on the weaker side due to Global Growth and tariff issues. What about the bulls . Theyre arguing
A lot of people think when you and becky and andrew are here thats Stranger Things. Thats very true. How quickly can we show mack. Are we going to do this now at the top the guys that are here wear black and i asked him, magnum p. I. But you finally just rebelled you finally said f it, im sick of the black stuff and im coming in and i like it myself. I like the palms on it. I tried to picture myself in that and thats when i started getting uncomfortable for everyone for everyone involved but it is friday. It is friday. Can you tell . Is that what it is . Casual friday or something its a good look. Man, oh, man. I asked you if you noticed and you said i have eyes, dont i . Lets get to the markets because it was a record close pretty much across the board the dow rallied 227 points to close about 27,000 for the first time ever. Stocks got a boost from the signal that the rate cut could be becoming this month and a year and a half since the dow sit 23,000 the best performing dow stocks ha
Back over to you thats going to be a topic of more importance as we get through the back half of the year ylan, thank you. A move to crypto now, especially facebooks libra. The president took to twitter to say hes not a fan of bitcoin or other cryptocurrencies adding, quote, facebooks will have little standing or credibility. Libra a major topic on capitol hill during the fed chairs testimony. Take a listen. We agree that libra raises a lot of serious concerns. And those would include around privacy, money laundering, consumer protection, financial stability, and those are going to need to be thoroughly and publicly assessed and evaluated before this proceeds now weve got mark cuban sitting down with deirdre last night, saying that facebook is out over its skis. Im not a big fan of what theyre doing there. I think its a big mistake not so much because of what will happen here in the United States, but what will happen globally theres going to be some despot in some african country that
Data out this morning was up slightly joining us for the entire hour is from ariel investments, pushing back against the earnings theme youre feeling good . Id say im better than the market is feeling. I think the market is looking for soft earnings, maybe 3 decline in earnings. Were hoping that we might get a positive number, but not as bad as the markets think lets drill down on all of the big stories. Lets start with you, bob. All three major indices at new highs. And let me show you, a nice group of Retail Stocks hitting new highs. Walmart, home depot, dow tjx, autozone. A small group of Consumer Staples breaking out to new highs. Proctor and gamble, colgate, starbucks a 52 week high for them the Payment Systems, mastercard, visa, visa the biggest gainer of the year up 36 . They have been on fire recently. Finally one last point, the vix down to 12 and change. This is sitting right near the lows for the year. Obviously august is a slower part of the year, but even so, a pretty low