Well find out pretty darned quickly when the Chinese Market finally reopens for business. But i can tell you a lot of whats working in our markets with better numbers coming out of the peoples republic, not out of the united states. In fact, much of the strength we have seen in the last three days comes from a belief that the Chinese Government is working to refoot their economy, which helps explain todays strong results. S p advancing. Nasdaq too. Im seeing signs of hope everywhere. In china, that is. Morgan stanley, after disliking the Mining Sector for ages, went positive on two of the biggest minors. And the market loved it. Stocks roaring hard. A couple of weeks ago that would have fall own deaf ears. Total bellwethers rocketed. Real gain 8 . These two left for dead companies were the most heavily shorted. They were shortselling annuities. A dream come true for those who bet against stocks until the comeback story come about the last couple of days. Thanks to copper, it has fallen
Hence why the averages keep getting hammered. Nasdaq plummeting over 3 today, a truliy hideous day. A wakeup call for everyone who ignored our repeated warnings. First up, commodities. Its no secret that china is not just slowing. Its industrial demand seems to be downright exhausted. Which means all companies that help extract or produce commodities are performing horrendously and will continue to do so. Why dont we start with one of the lowest cost pouroducers of iron ore is the colonssal brazilian mining company. The price of iron ore has been cut in half in this year alone. Two companies are gigantic producers along with tons of small producers. You need iron to make steel. But right now we dont need steel. Theres way too much of it. So iron is getting crushed. Im just using this as an example. Plus brazils currency is being annihilated. If you own this stock, youre getting killed both ways. The other two major iron producers, theyre not much better. How about copper . The biggest
Worst week in ten. Draghis comments dont add anything new. Rolls royce has a warning. Oil back below 44. Copper to a new sixyear low. Macys sending shockwaves through retail. Its not all brands. A big beat this morning from kohls. Well have an exclusive with john malone in a moment and apple reportedly diving further into payments. Pay pal and Google Wallet may be on notice today. First up, kohls up sharply on better than expected quarterly results. Comps up 1 . Retailers citing strong backtoschool sales. Comes after macys reported the weaker sales and guidance. Comps up better than estimated. Inventories up 5 but still sequentially better. The take is, given macys, this is pretty solid. There was a time when 1 comp growth would be something that i would turn to you and say, wow is that pathetic. People were looking for 1 comp growth and they gave it to us. Was it kohls has one advantage. They dont have a giant flagship store. Kohls is also trying to differentiate some of its products.
Million super pac to Push Congress to reform Corporate Tax. Lets check in on u. S. Futures. On this thursday morning we have a higher call from markets. The s p 500 the implied open is telling us well be up maybe two points. Dow jones industrials should be gaining by 20 points. Were pricing in close to 10. 5 points. Its a mixed picture out there. The ftse 100 here in the u. K. Were down. 5 . Meantime the german dax minimal games. The cac 40 in france not going anywhere and the ftse mib pretty flat. The follow through thate saw from the asia session. Lets take a look at individual stock movers and strg demand, yes, Strong Demand in europe and china boosting profits at daimler. Logging record sales in the Third Quarter driven by new model launches. We also have swiss pharma giant roche in the news after beating targets on the first nine months of this year. The ceo said he was positive on the companys drug pipeline in the future and publicis, the ad company is cutting its 2016 sales targ
Seeing weakness with its supply chain orders, down 3 . Moreover, the Company Makes a big bet with the release of its ipad pro with that apple pencil. We will tell you what to expect. You like that pencil, dont you . I think it could really be something. I do. I have my eye on that ipad pro, we will see. Jpmorgan has the latest target of a massive hacking and fraud attack, u. S. Prosecutors unveiling criminal charges just a couple of hours ago. We will bring you the latest developments on yet another corporate hacking going on. And tmobile, mean while, saying customers can watch netflix and hulu without using data from their tmobile plans. Here to explain who will have to foot the bill no other than tmobile ceo john ledger himself and a first on cnbc interview coming up. Who is going to pay for that . Lets start off with mcdonalds. Courty reagan has sales on this announcement. Moved the stock initially but its come back again. Mcdonalds wasted no time as they began the companys investor