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Business insider ceo is joining us this morning. A lot to get to with henry. First off, shaking off the amazon effect, shares of a number of retailers moving hire this morning, but all eyes are on best buy, 52 week highs after glowing past estimates on the top and bottom limenes. And sears and Williams Sonoma getting a best on earnings. Henry, this is interesting because so much obituaries have been written because of amazon. Some people are arguing are finding ways to move around it. Some are, no question. Its not like stores will disappear. The great irony is as this is happening, amazon is starting to open stores. But clearly this is just earth shaking behavior within retail and there are just different formats that are working. I think i figured this one out. Digging through some of the earnings reports and transcripts, i think its programs the Home Remodeling trend and ....
Adp showing private sector jobs up by 200,000 in september, that beats forecasts. So far in q3 the dow and s p are down almost 9 . The nasdaq has fallen about 9. 25 . Im sure you have seen the Global Market cap at twoyear lows, below 60 trillion. 11 trillion lost money. I think its important to point out that there were some huge orders from some large mutual funds at the close yesterday, fiscal year does end for a lot of mutual funds. September 30th, gives you a fuel three months to figure out what to do with the money that you get that they take from capital gains. I think they were a huge part of the problem in the last few days, getting out of strongs. I think a lot of the Fund Managers have turned bearish. I think you get a bounce because the fiscal year is over today and theyre not selling. Thats more important than any piece of data. A lot of discussion about the cash ba ....
The table this year, but any subsequent hike will be gradual. It would be the first rate rise since 2006. Singapore,n be tokyo, and boom by. And mumbai. Back in half an hour. Time now for bloomberg west. Cory you are watching bloomberg west. In shiningers night armor defending her attention plan. Retention plan. Fiscal firstquarter earnings from networking giant cisco. 12. 7 billion in sales, up 9. 4 . The company is warning that secondquarter earnings may not be what they might have been. We have been taking through the we have been digging through the numbers. In the quarter, what was the general tone on the Conference Call . The tone for what happened was pretty good. They were pretty positive with the possible exception of what happened in the router business, which was down 8 . It was a pretty good quarter. There was an issue in guidance. Cory routers used to be the whole is that really a sign of the way the world is changin ....
Tenyearyearo yields around 2. We sit down with Warren Buffett at 11 30 this morning. Dow futures up making up for almost all of fridays losses after the jobs number. You heard on squawk on the street them calling the fed irresponsible but said the u. S. Is not poised for decline. The i think the u. S. Market is fairly valued, and i think the markets in europe, are several years behind the United States. Europe is a bit more interesting. We see japan with qe infinity being interesting. Thats a relative waiting. Would we expect europe to perform the u. S. And japan outperform . Probably. Had some other choice words for Mary Joe White on the up tick rule. Saying all the volatility were seeing with the swings is not the way its supposed to work, and says that rule should come back. Hes been critical for some time, also of lie ....
Yesterdays plummeting freefall of the ruble. The Russian Finance Ministry announced that it is selling foreign currency. Ryan chilcote joins us to bring it all down. Give us a sense of what we have seen this morning and announcement and our argot. Look us through the details. Who would have thought the deputy finance minister of russia would be channeling mario draghi . That is exactly what hes doing. He said the finance minister is prepared to sell as much of its foreign currency reserves as it takes. A consultant adding that they have 7 billion worth of foreign currency reserves at their disposal. Weve seen an extraordinary move in the ruble. It hit 80 against the dollar yesterday. It is now down about 20 from that, yet it is still up 10 on the week. We got news that yesterday, the bank of russia was on the market , intervening to the tune of just under 2 billion. There are rumors that they are on the market today. The ....