Did we get hammered today . Because investors are finally starting to realize that the coronavirus is a very Destructive Force for economies. Dow plunges 228 points s p plummeted. Nasdaq, 1. 79 . As profit takers came out in forces, especially in big tech, recognizing the chinese economys going to go maybe offline. And going offline cant be good news for the United States the 30year treasury, well, it fell to record lows. That worries me. Yes, thats got to be a dangerous signal and not just a windfall for home buyers, right . All the action seems to el us the bad news out of china is finally translating into bad news almost a total delayed reaction. Should have been a week ago. Because our economy remains deeply intertwined with theirs so many of our companies rely on chinese suppliers for everything from trim, like in clothing, to buttons, essential medications, components, all sorts of technologies were really much more intertwined than people realize. I think were right to be worrie
Week the s p is tracking for a third week in a row of losses, down 1. 3 nasdaq futures up 73 points. Weve got a lot to talk about on a summer thursday. Our road map starts with earnings walmart posting better than expected results fellow down component cisco gets a lift, beating with its Quarterly Results and talking up a. I. Ceo Chuck Robbins will be joining us here. Plus, investors continuing to digest fed minutes released yesterday. The tenyear note yield hitting a fresh high were going to begin with walmart, raising fullyear forecast the retail giant benefitting from customers seeking bargains. U. S. Comps up by a better than expected 6. 4 and ecommerce jumping 24 led by pickup and delivery theyre clearly taking share because theyre out comping their competitors and the industry theyre crushing it i want to straighten some things out here when you have ecommerce up 24 , when you have advertising, which is just free money, what are the Gross Margins there, 35 , much higher margin. F
Seven years of growth, auto sales are slowing down this year. As phil lebeau reports in this weeks cover story, there are a lot of forces driving changes in the Auto Industry reporter change at the top of ford is a big deal. Jim hackett takes over the automaker after the companys board decided to oust former ceo mark fields. Ford is hoping a new boss will push the company to move faster, especially when it comes to developing technologies like selfdriving cars where the automaker is fighting the perception its trailing competitors like tesla. The way were going to win the hearts and minds of everybody is have great ideas of work, and ford has put a decade into the av development, and its really coming along, and when were ready to talk about it, were going to be really clear about it. Reporter the pressure on ford reflects an industry on crossroads, from selfdriving cars built by forecast firms to the growing popularity of ride share companies. Many are questioning if consumers will so
We look into what customers are buying them and when it will be available in china. Taking the Human Resources department online. Helping employees and health care coverage. Managing payroll and benefits. Zenefit with the ceo of s. To the lead. The obamaeaking news, administration is taking aim at Corporate Tax and version. Inversion. Of companies are seeking foreign mergers for taxation purposes. Cory johnson by and peter cook in washington. What steps are the government taking is the government taking . It only involves deals closing today and forward. It is not retroactive. That was a big question. How far back would they try to reach, if at all . We know it is not retroactive. What they are doing with the rules, it is safe to say that they have chosen to do things that Tax Professionals and tax attorneys i have been talking with over the last couple of weeks thought this is where treasury was heading. Jack lew said that he did not think treasury had any tools in the toolbox to deal
Managing payroll and benefits. We speak with the ceo of zenefits. To the lead. We have breaking news, the Obama Administration is taking aim at Corporate Tax and version. Inversion. A wave of companies are seeking foreign mergers for taxation purposes. We are joined by cory johnson and peter cook in washington. What steps are the government taking is the government taking . It only involves deals closing today and forward. It is not retroactive. That was a big question. How far back would they try to reach, if at all . We know it is not retroactive. What they are doing with the rules, it is safe to say that they have chosen to do things that Tax Professionals and tax attorneys i have been talking with over the last couple of weeks thought this is where treasury was heading. Jack lew said that he did not think treasury had any tools in the toolbox to deal with these issues. What they are doing is hopscotching. It limits firms. It makes it less economically attractive Going Forward. They