What the heck is going on here . All right. Last week i want over the developing problems of the stock market including retail worries, chinese slowdown and weaker employment. If you remember, i wasnt willing to dismiss that lousy jobs number that we got friday as easily as others. I said the clouds are upon us. Then today, the clouds burst open. The rain fell down and they flooded out all of the good news that i still thinks deserves to get some of its due. Lets accept the fact that the bad news stems directly from retail. What are the invisible positives. Amazingly, amazingly the market didnt seem to give a fig about an important takeover announcement. Their acquisition to beam, yeah, jim beam for 16 billion. Thats a 25 premium for what it went out on friday. This deal illustrates so much of what i like about this market. Beams a spotlight ive been highlighting as a textbook breakup. It broke itself up in a couple different companies. Fortune brands, home and security and beam the li
Thats dragging the market lower, the socalled momentum stocks that saw so much selling in february. Seeing it again. The amazons, the netflixes, the pandoras, tes larks you name it. They are heading lower today. Yeah. The question still becomes is there something bigger going on here, or is it just about the individual stories . Speaking of which, after the bell, it may be the battleground stock, creating more disagreements among investors than almost any over. Talking about herbalife, reporting earnings after the bell. Results and analysis when it hits. Shares today up 2. 5 . And the heat being turned up on Los Angeles Clippers owner Donald Sterling. Several sponsors now have dropped his team after alleged racist comments were made public this weekend. Will he be forced to sell the franchise eventually . Well be speaking exclusively to legendary attorney bob bennett. One of the great power players in washington history. He represented president clinton. He also represented the late ma
Washington. With all this horrendous confidence destroying overtones, its right back on the Front Business pages. And as you might expect, the markets had to take a tumble, the dow tumbling, s p dropping. 13 . Indeed, the wall street journals lead headline, tea party upsets gop number two cantor, took our breath away, caused many a buyer to turn seller. And i cant blame them. Did you know that every single big decline in this market since the generational bottom, every gut wrenching bone clenching selloff of more than 5 has been caused by washington. Either because the government did something terrible or because people were worried that it might do something horrible. Every budget fight has hammered the market, every passage of any tax. Every debt ceiling debacle. Every government shutdown. The house of pain. Every missed grand par began, every bit of grand standing. Sell, sell, sell in fact, every time one of these politicians grabs a microphone we seem to go down. On the other hand,
Substantial. The nasdaq composite is up half of 1 . The swing is not even 100 points. We started off in the red and now we are in the green. We got in home prices that rose the fastest in seven years. This group is doing really well. Kb homes up 7. 7 . We saw double digit Revenue Growth for kb homes. Back to you. Lori thank you, nicole. Gaining 12. 4 from a year ago. There are some concerns about the home price gains peaking. Adam news alert for you, Eric Schneiderman seeking the help of washington, d. C. To help prevent highfrequency traders from getting information earlier than the rest. They paid thompson and reuters for that information. Speaking at the bloomberg market, the attorney general had this to say. We are seeing something far more insidious than insider trading. Small coop of powerful groups inside the market are able to use soon to be Public Information combined with highfrequency trading. Adam he says regulators face several challenges tracking and preventing these. He
Now the new storm threat the 2020 democrats gearing up to faceoff on our stage. Voting already underway in nevada and Michael Bloomberg under fire as he rises in the polls. The new attacks and will he make the cut for our debate the shocking crime, a wellknown hollywood therapist murdered the exwife of drew carey foun underneath a third floor balcony, a different exboyfriend charged well tell you what were learning the red flags. The reallife iron man and the breakthrough flight. Wait until you see how high he goes our special new series on your taxes who can file for free this year . Announcer this is nbc nightly news with lester holt reporting tonight from las vegas. Good evening from las vegas where were getting ready for wednesdays democratic president ial debate. Well get to that in a few moments but we start with the coronavirus and the new evacuation flights back to the u. S. Overnight that have nearly doubled the diagnosed cases of the virus in this country. American Cruise Shi