Now. New data points to a sluggish economic recovery as payroll, points in the beige book shows a modest increase in activity. 59 minutes until the close were set to have another record highs for s p and nasdaq up 1. 2 on s p 500, sara its utilities leading the way higher for a change. Coming up on todays show, Galaxy Digital back to weigh in on the rally as it carries over into september were going to ask where hes putting money to work right now. Weve got an interesting mix of earnings coming your way after the bell, including work from home like cloud strike, those are hot, hot Cloud Companies Apparel Company pvh and well talk to manny tirico, calvin klein and Tommy Hilfiger mike santoli tracking Market Action as always Steve Liesman with new highlights from the feds beige book joining us to talk tesla and pullback were seeing is craig irwin from roth capital. Mike, start us off with the market every group is higher except for energy you do have utilities and real estate and health
Arrested the Chinese Foreign ministry saying that u. S. Sanctions on hong kong and chinese officials are violating International Law. Now sanctioning u. S. Lawmakers including senators ted cruz and marco rubio. Twitter nation a move for tic took wall street journal reporting for preliminary talks are held between social media giants, where this leaves microsoft, ahead. Turning to the futures, market it is this morning the s p 500 and nasdaq posting their second straight winning week. The dow was the big winner up 3. 8 attack a look at the markets last week. Moving on to the origins of the russia investigation senator Lindsey Graham revealing new documents to Maria Bartiromo that he says show the fbi misled the Senate Intelligence committee. The fallout, ahead. Unrest in america, chaos erupting in chicago looting reported across the city, after a Police Involved shooting. And another riot in portland. The unrest continues. Plus amazon warehouses could be coming to a mall near you. Morni
But the 52 billion man, Mike Bloomberg, was not in the debate. All in all, it was rather subdued affair, especially sense it came just hours after another day of impeachment hearings. Oh, how different from the highly rated Republican Debate four years ago that featured donald j. Trump. Thats that. The debate. Lets get to the money. Macys profit went up, sales went down. The retailers very much in focus as the Holiday Season gears up. So far, Department Stores like macys have been struggling. They are largely based in malls and malls are getting clobbered by online shopping, amazon in particular. Macys stock will be down about 4 . Look at this. Charles schwab, number one discount broker, talking about a merger with number two, ameritrade. Looks like they will become a very big bank that offers free stock trading. The whole brokerage world, really shaken up. Both of those stocks up significantly. Overall, the market is still yanked around by trade headlines. The president says this, the
Travelers. Biogen, set to seek Regulatory Approval for a treatment for alzheimers for early next year. U. P. S. Shares sinking ahead of the open, despite a pretty nice ecommerce boost to profit. The ceo will join us later this hour. The ceo of verizon as well will be here at post nine in a few minutes. An interesting announcement, another guest as well, but i guess it is a mystery. Well wait to solve it in a few minutes. Lets start with earnings, dive right in. Tale two of dow components, p g up, quarterly beat helped by Strong Demand by premium Beauty Brands and mcdonalds falling on an earnings miss as growth on us comps came in below forecast u. S. Mcdonalds 4. 8, looking for 5. 2. Jpmorgan told us the quarter would run light. Im glad you messengered that a lot of people are saying this is a big surprise, a negative surprise if you listen to what jpmorgan said, you would have been ready for exactly this number, which basically to me says not as bad as feared. 5. 9 , thats a number th
Amazing run coming into the month of march. Strength and energy, software, industrials, banks are all driving a pretty modest s p 500 rally, but one again that gets us near record highs. Here is the s p recovering from our morning dip. Small caps outperforming the closing high on the s p 500 it is just that one just about 5175, we are within five points of that. Despite sharp losses, supermicro and microstrategy are out performing down slightly on the day. They are still near a three month high with the Federal Reserve meeting now underway, culminating tomorrow. That takes us to the talk of the table that will tape. Can the market continued levitation act. And how high are the stakes now writing on the fence decision and policy message coming in less than 24 hours. Lets turn to liz and sanders. First, some thoughts. It is good to see you. How are you . All right. You have been noting the ravel of churn and leadership shifts under the service of the index deal. The s p 500 has flattened