Facebook results beating sales, profits, user growth higher than estimated. The stock is lower in the premarket. The big story for cigna, david cordana ceo joins us whole foods des appointments for the second straight quarter. It is down double digits as earnings miss expectations the governments initial reading of Second Quarter gdp coming below consensus, 2. 3 . Stronger Consumer Spending a slowdown of imports and a hike in Government Spending driving those results. First quarter up to. 6 from a previously reported contraction. Construction not bad. It echos what yellen and the fed said moderate growth continues. I had sandy cutler on the ceo. He said, you look around we are the best in the bad neighborhood, the globe. We are the best performing company. He is including china. He this is the numbers are completely phoney saying that this kind of growth is sustainable. It is not great growth. The rest of the world is on the decline. I understand what yellen and company did. Frankly, y
1. 3 . In the early trade this morning over in europe, youll see that there are some green arrows there. Just like our futures are reflecting this morning, youll see the dax is up by just over 0. 6 . The cac is higher by 0. 7 . The ftse up by about a quarter. Take a look at the price of oil. Oil is what set the tone once again yesterday. Wti with its worst day in almost a month. You can see this morning its picked up some ground. Another 49 cents to 36. 99. Actually, sitting right at 37 a barrel. Results coming in overnight from yesterdays nominating contest. Im exhausted, john. John harwood joins us now with more. I probably shouldnt have waited for hawaii to get called. You should not have waited for hawaii. There is some merit to that, the idea of doing this show from honolulu. It would be a 1 00 a. M. Show, wouldnt it . Wed have the whole rest of the day free. We would. Part of the previous night free i think too. Correct. Anyway, john, im fascinated. I think maybe most fascinating
Sound too good to be true . Well teach you how. But we started off with a reversal in stocks today. One Surprising Group of stocks we have not talked about in a very long time, the fang stocks, they led the way. Will investors start to look to get back into growth names, guy . The feds clearly on hold. That number this morning i thought was pretty lousy. A lot worse than i thought. Bad news wound up to be good news. Will people get back in . I thought the facebook quarter was outstanding. If you look the way the stock has traded since then, it hasnt given a lot back. I think facebook is great. Amazon is back to doing things the right way. Very 2015 quarter, the last one that we saw. Google, hard to say right now. Google finds itself in an awkward position. I think netflix, although selling off from an alltime high, i think theres tremendous value there. I get this competition coming but its not here yet. Out of the four of them, if you ask me where the most beta is, its netflix. Sold t
The shares fell for the Third Straight year to the lowest level in 30 years, this all according to the National Association of real tors annual survey. Just 32 of buyers were firsttimers and historically that share is about 40 . Firsttime buyers surveyed said all forms of debt had delayed their saving for a down payment by a median of three years and for those who had the hardest time saving, more than half said it was Student Loan Debt that was the culprit. Another change in buyers, the realtors found 30 of surveys found the primary reason for buying was the simple desire to own and thats up from 24 in last years survey. When you break out firsttime buyers, the jump more significant. 64 said it was that desire to own up from 53 a year ago. The desire for a larger home or a job relocation were a distant second and third reasons for buying. And this comes as the nations Home Ownership rate still sits at the lowest level in half a century. There was no change in the share of Multigenerat
Biggest increase since february ahead of the jobs number tomorrow. Our road map begins with facebook shares poised to hit a new record after last night. Whole foods misses expectations. Sales growth at a fiveyear low. Find out how the coceo explained this to jim on mad money last night. Homeaway, well talk to the ceos in the next hour. But facebook is poised to open at a record high while entering the 300 billion club. The Third Quarter results beat estimates. 78 of ad revenues now coming from monthly active users. On last nights Conference Call, Mark Zuckerberg said video is another area where facebook is continuing to make progress. Take a listen. On average there are now more than 8 billion daily video views on facebook and 500 Million People who are watching daily. To offer even more engaging video experiences, weve added live video for public figures. And we now support interactive 360 videos. 78 mobile. Three years ago it was 14 . Remember that . Remember when they had a mobile p