Setting up for pretty nasty open. At least if youre long at this point. Look at the tenyear. Thats become an important oh, its always important but its become perhaps important again to whats going on in terms of trading and the view of the overall equity markets rising to twoyear highs after weekly jobless claims fell to levels not seen since october of 07. Yes that is a good thing. In fact, you could argue thats even a good thing, too. Lets get to the road map. It starts with the major indices in the red. Investors wondering whether we were in taper territory as two dow components red on the market. One is walmart. Shares rolling back today after the retail giant cuts the fullyear forecast citing tightened Consumer Spending and payroll tax increase. Another dow component deep in the red today as well is going to be cisco. Company cutting 4,000 jobs despite an increase in profits that is sending the stock down sharply in premarket trading. And organic food maker annie is up 40 out per
Today, all those typical things that usually happen when the stockmarket starts to sell sell off whachl i am struck by is you are starting to see what you would call a normal kind of reaction to some of these markets as stocks move lower here. Well, at the end of the day, its the consume were. Walmart has told us the consumer is not as strong as many thought. Cisco is telling us the Business Climate is not as strong as many of us thought. So this Market Selling off here on the idea that the economy is actually a lot more anemic than we thought. Only the naming of a new Federal Reserve chairman, not only the possibility of the beginning of tapering, which i doubt owe glow the debt ceiling debate is coming, the budget battle, all kind of things, by the way, chart watchers are watching the dow and the s p today. The dow is sitting on its 100day moving average and the s p is very close to its 50day moving average, although, we have moved off of those here. We will watch those very closely
This is the worst day for gold so far since the day of the taper last year. In our road map, sales of cocacola beat expectations driven by strong numbers out of china. Cnbcs exes cluesive with the ceo of coke on earnings, activism and diet soda. Johnson johnson moved the stock higher, j j ups its forecast for 2014. Profit rises as drug sales soar. End of the 20year ceo, the journals say jeff immelt may end his tenure early and a message for ges next executive. Starting now for one day only google glass goes on sale supplies are limited but will we actually see any demand. The price tag 1500. First up, stocks on track to open higher following yesterdays rally saw the dow close with the 146point gain and the nasdaq up 23 for the day. The session did not end without some drama. Stocks lost a big chunk of their gains in the final hour and that did send the nasdaq into negative territory for a short period before heading back into rally mode. It is a tuesday, jim, markets been up 12 of 14 t
By cocacola and throw in goldmans strong quarter, and j j and a lot to talk about, and the yields are hovering at 2. 5 for 10years as we wait for bernanke on the hill tomorrow. And we are looking at the biggest loser on the dow today which could be coke. The Company Blames weather and other things, with and we will talk about it. And the shares of the dow component johnson and johnson are up after strong pharmaceutical sales helped to push the companys profits above expectations. And goldman Strong Revenue trading, but how does that compare to competitors like jpmorgan and citi. And the alpha conference kicks off tomorrow. We will give you a preview of what to watch for. And once again, with coke, the shares are down in the premarket and take out the items in the Second Quarter earnings and in line with the case volume down below forecast, and this is what coke cfo had to say this morning on squawk. It was disappointing in the quarter for volume and we said all along along the road a b
Fiveday losing streak since december. Now over to kayla who has todays headlines. Goldman sachs technical error caused erroneous options trades yesterday. Many trades may be erased but it could cost upwards of 100 million. They do not face material loss or risk from the issue. Maury tomhr Mary Thompson will join us with more. Jpmorgan is reportedly close to naming two new directors with finance and Risk Management experti expertise. The bank identified the candidates but the board has not yet voted on them. The decision is likely to come next month. Two directors stepped down earlier this summer. Facebook wants to get more people online. It is called internet. Org. The goal is to make Internet Access available to the twothirds of the world who are not yet connected. The groups plans include developing cheaper smartphones and using mobile data more efficiently. Joe . Thank you, kayla. What is 75 of twothirds of the world that the nsa could then watch . What is 75 of twothirds. If we had