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Alibaba sliding as growth slows to a three of year low. Macys volatile ahead of the estimates. Well have comments from the ceo who was on squawk box. Thats coming up with us. And getting ahead of cisco ease first report. First up, futures are down following tuesdays sell off off the lows of the morning. China devaluing the yuan. According to reports china intervened in the final minutes of trading. We got to some interesting levels. Fits in with what youve been saying for a long time, jim. These guys know what theyre doing and theyre doing it systematically. They have to. Theyre an export nation. When they came out its interesting what happened. When they came out, it was like it broke up the chatter even at the club. Thats how important this was. People werent necessarily all financial guys. Then monday is nobody is paying attention . They have to cut. I was waiting for germany to be able to fall. They sell bmw, mercedes. This is a big market. I was shocked. And the germans are still ....
Have been lost as a result of all of that. The biggest blizzard though turned out to be inside the New York Stock Exchange today. Well put. Take a look at whats happening in the market. We are geared up for a negative start then got a flurry of earnings. Caterpillar disappointing. Microsoft didnt help thing. Both stocks getting hit hard. Whats interesting, thats contributing to the dow being a weaker performer than the s p today. Its off 231 points. The s p mean while down less than 1 . So you could argue perhaps its an oversized reaction to a couple big companies, but by the way, theyre important companies, and by the way, the nasdaq also off 1. 3 . If we get a moment could we see crude oil settled higher. We did see a comeback in that sector and energy was one of the leaders to the upside in an otherwise down day. Crude oil was up 2 . It was up 3 in the settlement. Were in the electronic trading right now. In fact, i wi ....
After five weeks of gains, setting the average lower despite good news about Consumer Spending and a strengthening u. S. Dollar. Investors lightened up on stocks as treasuries moved higher and crude oil and prices on other commodities continued to slide. At the closing of the bell, blue chop stocks down 61, nasdaq skidded 64, the s p drifted by about four, nasdaq off a fraction and the s p down more than 1 , as for the dollar it strengthened more than other currencies for the ninth week in a row. A big factor for todays slide, a big cause of actition one, when to raise Interest Rates, two, scotlands vote, which could send markets around the world in a spin, and three, alibaba, the chinese ecommerce giant, expected to be the biggest ipo in history, steve liesman, we begin with steve and the Federal Reserve. Reporter i ....