First a check in on the market the dow lower by nearly 300 points moved low er perhaps by the fitc rating plus, some street talk around discover financial the company ceo resigning. That stock down more than 10 . Also, good news, bad news. The good, Warren Buffett adding a stake in the stock bad, home Builder Sentiment dropping sharply with rates over 7 . We begin with the warning from fitch the firm saying it may be forced to downgrade dozens of banks, big ones, including jp morgan chase, coming after recently downgrading the United States credit rating. For market reaction, lets bring in doug butler, director of research at Rockland Trust what has got fitchy feeling so well, i could rhyme but i wont. Ill also not go there. But again, fitch downgrading the banks, very core lair to what they just did. Its their really negative on the government and theyre taking this as a broad swath theyre saying the Banking Industry as a whole and greater problems which is why they would hit jp morga
After a tire falls off the plane just after takeoff. Were back at the airport with continuing coverage today. From the bay station, youre watching kron. At noon. Thanks so much for joining us here on kron. 4 news at noon. Im stephanie lin. We begin with breaking news out of San Francisco. The San Francisco Fire Department responding to a water main break this morning on will street just off 19th avenue. You can see that water shooting high into the sky in the vicinity of Pine Lake Park near stern grove. In this video. This is footage from the citizen app. Firefighters are assessing risks to buildings and residents right now while crews from the San Francisco Public Utilities commission are working to repair this break. Customers in the area may experience low or no water pressure. Officials say that repairs may take some time due to the size of the pipe affected here. Traffic in the area may be heavily impacted and drivers are advised to seek alter alternate routes. As muni says many s
Market impact. Plus, disneys board battle heads for its grand finale as it appears to lock up shares from one major shareholder. And the best ideas for q2 and beyond. The mining places our next guest is rolling the dice on. Its wednesday, april 3rd, 2024. Youre watching Worldwide Exchange right here on cnbc. Good morning and welcome to Worldwide Exchange. Thanks for being with us on this morning. Lets kick off the futures and check with the morning with the stock futures, he said. Right now were seeing more pressure. You can see the s ps implied lower by roughly 6. 5 points. Downside, but stable. Meantime the nasdaq is posting its second lost in the last three sessions. The dow declining by 1. 5 . Some stocks are still climbing to new a 52week highs. That includes dominos pizza. Ge, kroger as well. And looking at the bond yields as bets on a june rate cut by the fed cools off. Right now the 10year yield ticking higher at 4. 5 . The 2 year at 4. 7 . Tensions in the middle east are provo
Nearly six weeks after the union began a walkout. And Morgan Stanley says it has its new future leader. Dont miss a first on cnbc interview with ted pick and current chief executive james gorman lets begin with the nasdaq which is set to fall deeper into correction territory the ndx coming off the worst day of the year. Now down 11 from the july highs. It looks like the mega caps are catching up to the decline of Everything Else i think theres an overwhelming sense that they all went too far. That they all got overvalued i do not share that. Well get to meta. These are not ultra expensive stocks, theyre a couple turns in pe. Theyve become major sources of fund i think its more correlated with the bond market than earnings yes, google did not tell a good story, it wasnt like they missed big meta, otherthan a few lines that were about meaningful spending, meaningful hiring and also obviously difficult to advertise when you have a wash, it was quite good. Now, the stock is down literally
Guidance plus media moves warner bros. Discovery missing airbnb shares are also falling ahead of the opening the company sees robust demand for travel, but its guidance disappoints investors. The ceo will join us in a few minutes. Lets begin with a few momentum names today, including one of the beneficiaries of the a. I. Boom, and thats arm holdings, down sharply as guidance comes in below consensus. But shares of the chip designer still up 90 from the september ipo price of 51 a share revenue up 47 licensing up 60. Yeah, look, i think that rene haas will be able to tell a good story, that there was really one question on the Conference Call by a goldman analyst whos very, very good, which knocked the stock down, which explained the dow is a 70 sequential problem when it comes to the some of the royalty arrangements they were basically saying, david, that it was internet of things and automotive. That is not unusual. That is what everyone has been saying, like on semi has been saying t