Higher than expected. Plus tesla shares, well, they continue to have a very rocky ride this year. In fact, they are the worstperforming stocks so far on the s p for 2024. Another firm cuts their price target on that stock. And former treasury secretary Steven Mnuchin telling cnbc just last hour that he is putting together an Investor Group to try to buy tiktok or the u. S. Business of tiktok. Lets begin with the Market Reaction to ppi and retail sales as well. Last months decline, a little bit tight. As you mentioned, the market trying to look past it, struggling to do so, maybe. Cpi this week, you had these big treasury auctions that maybe we thought it would knock the market potentially off course. Now, there was a hiccup lower in the indexes, and bonds definitely are registering this hotterthanexpected inflation number. Tenyear up to 4. 22 . If this were an acutely feddependent stock market, it might matter more on a daytoday basis to equities. Its not been the case. If you dial bac
Im melissa lee. On the desk tonight, tim seymour, steve grasso, guy adami, and lori calvasina. Shares of dollar tree plunging more than 14 after posting misses on the top and bottom lines this morning. Shares, which had been on a steady climb since october, seeing their biggest drop in nearly two years, erasing all the gains for 2023. Meantime, Williams Sonoma stock cooking up an alltime high today. The highend home goods retailer beating earnings estimates, upping its stock buyback plans by a billion dollars and hiking under the circumstances dividend by 26 . In the last six months, Williams Sonoma posted virtually the same gains as redhot nvidia. So, does todays action emphasize just howdivergent the high end and low end consumers are . This is a theme certainly that weve been hitting on for months and months, but this really seems to underscore that, guy. One thing for us to say, its another thing to see two stocks on the same day perform the way they did. Tim has discussed wsm for
Plus, tesla aint looking so magnificent. That is the view of wells fargo, the firm slapping that ev maker with the equivalent of a sell rating. Lets begin with this ongoing market rally. As we said, s p is coming off that record close, posting its best day yesterday in march. A lot of discussion. We were talking about the wells note today about disjointed momentum trade going on in frot of friday, mike. It has been a little bit agitated. This has been a fuse people have been watching burn down, this idea that the market is o overrelying on these momentum movers. Laggards took up the slack. Yesterday, little bit of a reversal. It was a bounce. I feel like, you know, its admirable that the market is able to repair itself this way in an ongoing basis. Its a bull market. The pullbacks have been shallow. Theyve been brief. But it still hasnt relieved a lot of what could be the excesses within it, which is the extreme outperformance of things like semis. And the extreme reliance on the dayto
he claims to have personally witnessed interference by joe biden s doj. when i took control of this particular investigation, i immediately saw her, you know, it was way outside the norm of what i had experienced in the past. there was multiple steps that were slow walked at the direction of the department of justice. have you ever encounter that before? i had not, no. these were deviations from the normal process, and each and every time, it seemed to always benefit the subject. it just got to that point where that switch was turned on and i just couldn t silence my conscience anymore. greg: he may have a point about it being slow walked. it has taken five years to look into hunter s potential tax crimes in the shady income he earned overseas while pops was vp peered flying in the face of what biden s ag said under oath. will you commit the investigation will actually examine the public corruption aspect and not simply scapegoat hunter biden as an individual? i c
talks and he is confident they will come to a bitart san agreement before it is too late. todd: alexandria hoff live in washington. alexandria: president biden did receive a briefing this morning, the president s team informed him steady progress is being made and the president directed his team to keep pushing forward for bipartisan agreement. on wednesday, they introduced procedural resolution that would allow members to force a vote to raise the debt ceiling. president biden is in japan. hakeem jeffries wrote to colleagues, given the impending june 1 deadline, it is important all legislative options be pursued in the event no agreement is reached. for a forced vote to be successful, all democrats, plus five republicans would have to join the effort. here is house speaker kevin mccarthy. i do not think it is going anywhere, for one, it seems that would be playing into a biden default. i think america public is tired of those political games. freedom caucus members u