The backdrop, the strong economy, that is leading to a surge in travel, period, but tax reform doesnt go through then what . Lets go to scat martin who has been crunching numbers on the then what possibilities, what happens then, scott . Neil, i think we see a pullback and i think we see a pullback and a surely equity prices, anticipation of tax reform, Regulatory Reform to some degree we have seen and equity prices have responded positively and youre also going to see pullback in consumer spending. The nice thing Going Forward for us is the following, 401 k balances are on record, great year that makes you confident and probably more confident in your job than a year or two ago, thats likely going to make you take out the wallet as you go to holiday spend, without fax reform, that momentum likely doesnt continue. Neil a couple of different reads on this. Youre probably taking them all in. Morgan stanley saying, you know, to a point we have been debating, be careful what you wish for b
Dave stocks opening, waiting for development in a political crisis such as it is in germany, talks of a coalition to rule the country helping lift german stocks, the dax index early on. Chinese stocks took a beating, the shanghai composite down to present. There was a bounce back overnight, shanghai composite up slightly. More news for uber, the wall street journal reporting the new ceo knew about the massive Security Breach for months before telling customers and drivers. Fbn a. M. Start now. It is 5 01 in new york, november 24th, feels like a monday. Ashley it is black friday. I have been waiting for this day for years, black friday is losing lester. Use your phone, why are you showing up in the store. It is the breaking news for us this morning, kicking off this Holiday Shopping season and it was 4 years the biggest day of the year shoppingwise but that is our question, has black friday finally lost its mojo to the web and the smart phone . Lauren jeff flock joins us in the morning
Section of target over here. But youre right. If you look at the numbers from adobe. Today alone, 46 of the revenue happening on the smartphone. Its really unbelievable how the dynamics have changed. Were looking at online sales so far today this morning of 640 million. And were just getting started. We had sales yesterday 1. 5 billion. You have sales today. And, of course, through cyber monday. Let me show you some of the ways that retailers, brick and mortar like target are getting people to come into the store physically. Now, this is the series 3. Its full price 430 but the series 1, theres a 70 discount. And then, charles, if you come in and buy an iphone 8 or 8 plus, you get a 250 gift card to spend at target stores. If youre still not enticed, if you purchased 50 worth of stuff today, look at this. Theyre giving you 20 off your next purchase. So theyre trying to keep you and lure you so that you come into the stores. We have people today, i would say steady traffic. Its not, you
Big news out of the United Nations, nikki haley announcing a cut in next years budget after the un voted to call for donald trump to withdraw his plans Israeli Embassy to jerusalem. Varney and company starts right now. Charles lets look at futures, under pressure all morning, fractionally better. Lets bring in zach hour. Everybody wants to know 205k in 2017. In 2017, i dont see why not, certainly lets call it by valentines day a couple points, next year will be a strong year for the stock market, the first half of next year especially. I am worried about a blow off topic for the market sometime next year but that is all the more reason. Charles you could argue this year, last year, the year before, pretty long market, people are calling for it. Prices are not crazy, prices are okay, we are introducing new money into this economy with conditions tight. What i worry about is a faster rise in Interest Rate than we expect giving more competition. The cd rates, why am i taking this risk in
Donation of 1 million. The details on his report at least initial 6 billiondollar request. Harvey wrecking havoc on the energy sector. Gas prices surging long lines forming at the pump. Major impact ahead on the busy travel weekend coming up. Futures are showing gains across the boards, dow, s p 500 and the nasdaq there, the dow and s p up in august, that was the fifth straight month of gains and the nasdaq up two months in a row. The nasdaq closed at alltime high yesterday. Investors, of course, eyeing the august jobs report due two and a half hours from now. Economists are expecting 180,000 jobs were added last month, tun employment rate Holding Steady at 4. 3 . We will bring you special coverage of the job report beginning 8 00 a. M. Eastern time. In the meantime, in europe lets check stocks there, england, france and germany we have gains across the board firing on all cylinders around the globe. In asia overnight markets were mixed with nikkei and shanghai heading higher. At home