Despite increased tensions in the middle east. Isis takes full control of the iraqi city ramadi while saudi resumes strikes. Back to monday morning once again. Lots to talk about. Weve got some Interesting Data out of china as well as a big guest coming up on that and lots more u. S. Data last week. It was disappointing. It doesnt matter though. I think theres a big factor as well in what weve seen in equity markets last week which is in general we feel weve been in a riskier mode. That said the u. S. Dollar has been losing ground. Thats allowing u. S. Equities to out perform last week and hit new highs, whereas the euro has rebounded that has meant European Markets have rebounded more. This weakness that were seeing in the u. S. Dollar is being welcomed by those International Companies that make most of their revenue outside of u. S. The question is how long will this continue especially if the forecast is for data to improve to the up side. That keeps the dollar trend the dla bull tr
The office . Asking for a friend. Obama actually returned good question bill clinton. The handle comes with the house. Know anyone interested in flotus. President obama picked up his first 1 million followers in a few hours. Ive seen other accounts that hes had. This is the first one at potus. Its cute. What happened in ramada yesterday . The fall of ramada. I saw this last night. I saw quite a bit of news on this. Where is that . Iraq . Iraq and its very close to baghdad. They have them too right . Put that twitter account. Bill clinton and first lady and hilary and all. Yeah. Anyway good morning. Good morning, how are you . Hows wall street . Not very tame. You read my column today. Its still unethical. Lawyers, or madison avenue or government or politics. Anyway. On the front page of the New York Times today they were talking about the revival of wall street. How many private email accounts do you have . How about you . 16. But i got really good stuff going on. Home depots Quarterly
With all of this Global Selling starting after weaker than expected ism numbers. It was a big drop. It dropped from 56 to just over 51. Massive unexpected decline and that really started things off. At the end of the day, the dow was down sliding 326 points to close below its 200day moving average. Also, the s p 500 losing more than 4 had . And the nasdaq dropped 106 points, to close below the 4,006 level. Where does that leave thus morning . At least at this point, the futures have been bouncing back, but just mildly. Now youre seeing some of the hesitation. At some point, the dow futures up by only 15 points above fair value. S p futures up by just over 2. 25 points and the s p up by 3. 6. Over to scott webb has todays top stories. Many of those stories this morning involve Quarterly Earnings reports. We are watching shares of yum brands, the parent of taco bell, pizza hut and kfc restaurant changes. It reported Fourth Quarter profits 86 above estimates. Sales fell shy, but the compa
The roadmap begins with the markets looking to recover after logging their worst february start since 1982 for the dow and for the s p. Michael kors trounces estimates while jcpenney reports its first quarterly samestore beat in years. The parent of kfc, pizza hut and taco bell adds its recovering from the lingering fallout of food safety concerns in china. And apple is reported lie by the wall street journal and quietly laying the groundwork for a vast internet infrastructure capable of delivering a lot of data and content to consumer. The dow tumbled 326 yesterday and growing concerns of a weaker u. S. Economy surrounding emerging market worries and the nikkei down 42 overnight and the worst loss in nearly six months. That index is down i think 15 for the year to date, jim. Rough, rough. Terrible. When i see adella, your man might be in there. Your man, no one knows him very well. Exactly. Were out of data. Weve had nothing but notsogreat data. Its going to snowstorm tonight and this
Later, the Consumer Confidence number is released for september. We were originally speccing Housing Starts at 8 30 eastern today. Permits will hit the tape, but the government is delaying the starts and completions again. They are still blaming the shutdown for this. The Commerce Department now plans to share that information on december 18th. We go from the economy to earnings. This mornings horts include hormel, tiffanys, and barns noble. Also, other market related news, takeover premiums are shrink to go historic lows. The wall street journal reports more than 9300 deals and so far this year the average premium has only by 19 of a target the week before. That compares to a historic average of 30 . Among those factor tos are booming economy, a worry Interest Rates will rise. Market vaum is an issue. You have to look in two different places to figure out what that word might be. Beyond the market is the other top story, the severe storm threatening parts of the country. The big mess