Again. So youre not looking at a bounce back. At least not in the early trade. After you have such rough seas like that its not unusual to see it the next morning. But right now at least it looks like the dow is indicated to open down another 77 points. Yesterday closing below 17,000 for the First Time Since october. The s p 500 is down another 8 points after closing down by 2 yesterday. Check this out, though, the dow negative on the year. S p is negative on the year as well. This is decline of 2 yesterday for the dow. 16990 is where it closed at the end. Its at risk of the annual winning streak for six years in a row. We should point out the five dow components hitting 52 week lows yesterday includes utx, conoco, exxon and Procter Gamble an intel. Japan was down by 3 as well. Shanghai composite down and hang seng composite down by 1. 5. Chinas august flash factor pmi. Thats a key Manufacturing Index. It dropped to a 77 month low. Do the math on that, thats more than six years. Domest
Earnings would be about the same adds last year. Not something wall street wanted to hear. They were expecting the si solid growth in profits. After that one disappointment came another. This one from comcast. Who said competition is stiff and warned subscriptions would be down. It is no vet that Media Companies have been struggling as cherry picking viewers stream the traditional beefy bundles of cable tv channels. Today, those concerns played out in the stock market and how. Disney would you likely own in a mutual fund, retirement or individually was the worst we are forming dow stock today. Comcast, the Parent Company of cnbc which produces this program was off more tg to other part o the media sector. Julia boorsen takes a look. Red flags from disney and comcast, making headlines out of the Media Conference today. I think what investors are worried about though is the pressure broadly on this group. So gerngs an environment where people are shooting first and asking questions later
Growing competition put pressure on the Company Target announcing today it will be lowering prices across the board on thousands of units. It took down rifvals walmart and costco who are the winners if there is a winner cant fight a land war in asia who proved that . That napoleon guy. Cant win a price war with the walmart. I dont run target im not anytime soon, but theyre fighting the wrong battle they should fight a pat l on price. On experience. Theyre not going to win this. I was bullish until this news came out now, you have to reevaluate. Walmart will win why . Because they can its not just walmart amazon all of the pressures here. Walmart sold off immediately when that came out its a price war, its amazon thats got this price war against everybody, so theres disrupters thats who you can own its amazon. I look at walmart and say, theyre in serious trouble its because theyre going to be smoked when it comes to the market share with grocery. Grocery is a big part of the business 53
Welcome to squawk alley. Im Carl Quintanilla with michelle carusocabrera, john fortt. Sara eisen has the morning off we have a vote in the house on the budget elon hi guys, the house has passed the final version of the 2018 budget, clearing the way for tax reform to be completed without any help from democrats. Now, were told that they have reached that 215 marker that they needed in order to get this passed there were at least 19 republicans that voted against this doesnt appear that any democrats supported this Minority Leader Nancy Pelosi even called this budget immoral and a raw deal now, some of the republicans who voted against this, those are expected to be protest votes over the potential elimination or capping of the state and local tax deduction, so there is still going to be a lot of really tough negotiations under way over the next few weeks as republicans hammer out the details of their tax bill. But for now, a big step forward and something that can give them some crucial
Tiles. The total number of the record for all time, 77, 1995 i thought you were going to say the total number of trading days we still dont have that no. But i was trying to think about it i think theres 53 days left which probably work out to 44 trading days for the rest of this year. I did the rough numbers yesterday 25 . Look, there were 220 i mean, there were 222 or something weekdays i dont know how many of those days were closed or trading sessions thats good enough. So its Something Like 25 25 of the time youve still got another potential up to 40 trading sessions left. Let the good times roll thats the bottom line yes bottom wlien is, we have seen a lot of record closer its not just here in the United States joef night in asia, green arrows across the board with the nikkei up by almost 1. 75 another 389 points added to the nikkei once again to a nearly 6year high jump just visits the area and this is the kind of stuff that happens. The hang seng up by 1. 4 . The shanghai up by.