Housing recovery is very much alive or as is more likely that buyers are racing to close deals before Interest Rates and Mortgage Rates go higher. So it looks good, but the velocity has slowed down. People question as all the time. As the guest from the last hour said, is slow but steady recovery. Finally, a major bank stocks moving higher late in part by a late breaking reports that j. P. Morgan could be ready to pay about 3 billion the settle claims with the government that it misled investors about mortgage practices. In the meantime, as an of financial and goldman both came out with notes today saying that big banks appear adequately prepared for the next round of stopgaps that will be given up by the bank. A lot of headlines for the banks at the moment, but look at how theyre moving today. Now to a retailer feeling stress. J. C. Penney shares tanking to a 13year low. What happened . Well, goldman once again weighing in warning that the retailers sales will improve, but more slowly
And possible saturation. Apple says revenue could also fall in the Current Quarter. Tim cook insists the company is growing and new products are coming. Cory johnson joins me now from new york. I know you love apple metaphors. Has the apple gone sour . How is it tasting to you . Really . Really . Perspective is in order. We had a company that was near bankruptcy when steve jobs takes over. And now they have the biggest quarter in its history ever. Selling more except for ipads than they ever have before and also the highest revenue before even after the selloff today. The lodges the largest market cap. So things look great but the question is what is going to happen in the future . We saw a sales rebound that looked like it was good news. A six percent increase and we saw three consecutive quarters of those increases and we saw a return to Profit Growth here the company is profitable yearover year profits increased a little, one percent. When we look at what is going on with this busin
A second hearing will be held on the issue with executives from pandora, sirius xm, and other companies. Today o presented at e3 for the struggling wii u conference. New legend of zelda game coming next year and amiibo , allowing users to scan characters into games. And the first legally approved commercial drone flight over land happened earlier this week. It was made by a Company Called in alaska. More than 30,000 limo and taxi drivers from across europe are going to hold massive road test tomorrow against uber. Scheduled in some of europes biggest cities including london, paris, berlin, madrid, drivers even planning on blocking the roads. It is unfair that regulations they have to follow are not applied to uber drivers as they expand. They spoke on street smart yesterday. The kinds of things we think about our, can we continue our . Rowth in echo can w can we grow in cities we are already in . If we can make it to this whole year and grow faster when we are five or six times bigger
Reins as rbi governor. And samsung is preparing to take the wraps off its new galaxy gear smart watch as it tries to take first move advantage over apple in the gadget wars. All right. Warm welcome. Were into another worldwide exchange. Good afternoon. Good morning depending where you are in the globe. Eurozone composite pmi hit the high since august 2000. The final number, slightly weaker, a nudge down from the flash. But nevertheless, 51. 5 for the month of august. It was 50. 5 in july. The highest headline since june 2011. As i said, albeit revised down from the official flash reading of 51. 7. We have just as a result slightly down, euro dollar down on the session low at 131. 62 at the moment. The new orders index up to 51. The first time it has been the 50 mark dividing growth contract igs since july 2011. Something of welcome news to the ecb, which, of course, meets this week as well. We have also been hearing from the imf this morning and saying germany could do more for domesti
The entire hour tonight. Aig ceo Bob Benmosche is with me. Well say hello to bob. Thank you very much for joining us, bob. Nice to be with you. We want to jump into todays Market Action and talk to you and our other guests, before we get specific with bob on the aig, the regulatory environment, and lots to talk about with bob. Tom is with us, todd from land capital and our own rick santelli. Thank you very much for joining us. Bob, let me kick this off with you. Does it surprise you to see this market move higher even in the face of so many uncertainties out there . How do you characterize things right now . Well, we see everything and ive said this for quite a while a very core strength to this economy. Businesses are doing well, and i think the problem is growth, and people investing, putting a little bit of money at risk to create new ideas, new busines s businesses, new technologies, and, therefore, new jobs. So what youre seeing here is that theres a lot of strength here in our ec