Cramer, david faber coming to you live from separate locations this morning its risk off following those onemonth highs from yesterday empire and retail sales for march were abysmal the worst on record. Below Expectations Oil below 20 earnings from citi, goldman, bank of america showed the major banks are, as expected, bracing for a wave of defaults some more than others when you look at the percentage of the total loan book at jpm and city. Jpm is the one that people decided wasnt that great. When i look at it, i think it had to do with tone. Jpmorgan, the crucial lines were something that were uttered by jamie, which were, look, may is not realistic. It will be june, july. The problem with basing everything on that is that you dont realize these banks are much more much better prepared than we thought you have a citi thats down from its tangible book value, its actual youll have multiples that are incredibly low because people feel the dividends are in question yet you have a tremend
Nasdaq futures up 55. Yesterday record highs to tell you about, s p 500 closing at record high, nasdaq also was higher but then retreated. Dow industrials closed at 38 points, the nasdaq down 54, despite taking hit from Google Parent Company alphabet 7 and a half percent drop, initially nasdaq was higher, it ended lower. Mornings with maria begins right now from los angeles. Maria all right, top story this hour is apple and the earnings were better than expected. Technology giant reported secondquarter results last night. Showed decline in profit and sales however still beat analyst expectations earnings per share and revenue. The company saying that the the iphone sales showing signs of weakness, down 17 , there are the numbers. Joining Us Investment adviser, Larry Haverty and cyber guy kirk. Let me get your take, first, larry, on how you see the quarter, what was your reaction, larry . You have to be very, very positive and you have to think a little bit outside the box here. If your
Desire to sit down and ensure we can achieve a deal deals on wheels. Uber is reportedly in early talks to buy deliveroo for several billion. And let the battle begin the auction for sky opens this afternoon with comcast going head to head with fox in a threeround process to decide the fate of the british broadcaster. Just to bring you some flash pmi numbers. The composite pmi is 54. 2 against 54. 4 thats slightly lower than last months 54. 5 services pmi has come in at 54. 7, against a poll of 54. 4 slightly higher than the 54. 4. Also well look at the manufacturing pmi. Its come in at 53. 3 thats against a reuters poll of 54. 4 breaking news out of italy italy gdp growth revised to 1. 6 for 2017, slightly higher than the 1. 5 2016 has been revised to 1. 1 from zesoa 0. 9 . The number of 2016 has also come down slightly from 132 to 131. 4 obviously quite a lot of developments in italy at the moment we heard from mr. Dim may dim , ishi dimaio the stoxx 600 is up almost 0. 3 . Looking at
passes a short term funding bill bitcoin is cratering this morning and it s the final session before a three-day weekend. look for news dumps, europe is mixed and durable and consumer income a slight miss more data come in an an hour bitcoin down for first week since 2013 as goldman sachs throws its hat into the crypto ring. shutdown avoided in washington for now waiting for president trump and go live to d.c. for the latest. eric schmit stepping down for his role as executive chairman at alphabet. what that means for the company. bitcoin is the lead today extending this week s bearish run hitting a record high on sunday the crypto currency tumbled sharply in asia and wiping out a fourth of the market value in a 24-hour span 12.5 is the price people are looking at for the week you re looking at 30% drawdown as our friend josh brown stepped in. doesn t get you back to thanksgiving it was about 8,000 when it really started to lift off in late november, early december. s
s&p indicated up fractionally. the nasdaq up fractionally as well overnight in asia, the nikkei ended higher it was up by 11 points that s still a win hang seng was up by a quarter percent. so was the shanghai composite. this morning and in some of the early trading we ve seen take place in europe, modest advances actually things are relatively flat the cac is up by 0.1%. the ftse is flat the dax is flat. we ll see how things react as we get deeper into the trading day. let s look at crude oil prices crude was down yesterday this morning it s back above $50. $50.7 $5 $50.70 hurricane maria is lashing the islands, and puerto rico is preparing for a strike steve mclaughlin joins us now. from 7:00 p.m. to 1:00 a.m., this storm had winds of 175, we re down to 155 this is a strong category 4. the eyewall a bit bigger, now on land, mainland puerto rico we don t get an official landfall until the center of that eye crosses land. here are the implications. 150-mile-per-hour susta