Liver. More and san jose. And it might be a late seabreeze, and its already pretty warm. 8463. Last week we couldnt get the low or the high. They were both below this week. They were starting off a little low coming in spinning in high clouds. Before they come, 40s, 50s and 60s in the temps. Some on the mild side and component coming off, and humidity is 23 , and tomorrow though, we will start with a cool down in 70s and 80s and a few near 90 degrees. Well, the east bay commute is getting busier steve as you might expect. Right now here we are. You will see the traffic is going to be slow coming around the corner to the bay bridge. It is not really that bad once you get to the bay bridge, but that backup is just a little longer than normal, so you should give yourself 5 or 10 minutes. Not a big deal. As we look at these commutes, you can see that some of them are heavier than others. And its heavy from 92 down into union city, and the bridge is okay. Peninsula has been fine. As we look
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
Magnificent seven are in correction territory but nvidias getting a boost ahead of its earnings. And were going to keep focused on those economic challenges in china. The countrys central bank cutting a key Interest Rate by less, though, than many had been anticipating. Oh, yeah, who is many anymore . Slew of press over the weekend as well. The journal writing kind of a devastating headline. Is it over after 40 years . Yes, definitely over. Who can say this stuff . We were here. We were lucky enough to witness the fundamental change in the chinese economy. It happened over the weekend. Happened over the weekend. Theyre trying to be a service economy. That was it. Done. Maybe president xi has just said, you know what . Every bankrupt artist, every ridiculous guy who built too much and every ridiculous person who tried to get extra yield, sorry. Why not . Why not clean up the excess . Well, but the question, of course, is, contagion. Oh, contagion. Yeah, some of the huge promote companie
Were peppy boys. Three down weeks in a row for stocks. It looks like weget out of the gate in a positive way. Dow would open higher by 133. The s p is good for 21. Still early with the nasdaq which has been beaten up is up 89. Bond yields here come after declines of 2 last week for each of the major averages. Treasury yields spis part of th story. 10year treasury eased off last week, but still at 4. 29. Steve. The upper end of the range recently. 4. 30. Some people telling me 4. 50 is not out of the question. A lighter touch from the China Central bank. Lowered the oneyear prime rate by ten points. Economists expected 15point cut. The economists expected a 15basis point rate cut to the fiveyear prime rate. Major indices in china were down across the board. Palo alto here for liesmaniacs want to talk about the fed. Palo alto. You must have been talking about this. It is odd they did the release on the summer friday in the afternoon. It wasnt a bad one. It was a good one. Everybody thoug
Those are the two worstperforming sectors over the past five days. Investors are watching apple and nvidia ahead of its critical Earnings Report next week. The many pressure points for stocks, rates, earnings, china. Of course the fed too. So whats an investor to do . Lets ask dan greenhouse. Chief strategist here with me at post nine. Its a growing list of pressure points, right . It is. Fixated on the apple selloff. The rates have backed up. At least today theyre backing off which is maybe why the market is kind of hanging in. How do you see things here . Listen, technically obviously weve sliced through the 50day moving average on a number of indices, if not all the indices. In terms of apple, apple and those types, they were up 60, 70 , meta and nvidia are up 300, 400 off their lows. In the context of whats happening from rates, when rates bottomed earlier this year, the tenyear is up 100 basis points and the nasdaq is up the whole time, the s p is up the whole time. I think ultima