How retailers are shifting Sales Strategies online this Holiday Season then, questions over astrazenecas vaccine trial, what the ceo is saying this morning. And finally what a salesforce acquisition of slack means at this hour. Right back at you in terms of this market action, we have seen it a lot, mike in terms of the dows performance this month there has been some rotation lets start there. Somebody this morning saying aerospace is up 40 . Which frankly i did not necessarily know it has been that strong in that short amount of time does it continue in this rotation or do we have to watch this in last day, day and a half of trading there has been a stutter step in that rotation. We had a couple of these since march. One of them peaked in june now it has been very, very aggressive aerospace is part of the industrials group. Industrials fully kind of got back to precovid levels and the valuations of industrial stocks are well above where they were based on expected earnings eight month
Yeah. Didnt scrooge send over a turkey at the end . He did something. He sent over dinner. And tiny tim was like, wow, its the best christmas. I dont know if that was the book version or the movie version. Im getting a little wait a minute there was a book huh . Yes, charles dickens. I know you know this we had this discussion there was a book it wasnt just a movie some people we know get all their news in tv which we hope is you at home. We hope you are getting your news here today. Look at the u. S. Equity futures. This is after major averages closed at record highs the s p 500 closed above 2600 for the first time as we saw this technology rally. This morning things are mixed. Dow futures up by 12 s p is down by a point and nasdaq down by 3 points. The major averages have been up three of the last four sessions. The dow had its 60th record close of 2017. The s p 500 saw its 54th record close of the year. Guess how many times, if you want to get to the record, 54 so far this year. The
Here the shares are down 8 right now. Thats not even the biggest point decliner in the dow. Which goes back to how low its share prices got. Exactly. At this hour the Senate Finance committee is beginning to mark up its tax reform bill well tell you whats at stake there and what could be the most contentious issues between the house and senate. Meanwhile, amazon is reportedly considering a freemium option for prime video. Wel n will netflix make a similar move lets get to our top story today, the big decline in ge shares Morgan Brennan has all the ugly details for us morgan reporter hey, bill, yeah, so ge cutting its dividend in half. Its only the third time since 1899 its cut that payout, this is the first time its done it notscenario. Thats only part of the story here big part of why these shares are falling 8 is the updated guidance new eps numbers for 2018 expected to be 1 to 1. 07 a share, reduced by half since the previous target and lower than consensus estimate 6 billion to 7 b
Clear and precise and to get the pentagon to react in in doing so before it is too late. It to succeed to make that offset strategy real so it is more satisfying. You are up. Give us another perspective. And that terminology of spoiler alert with that budget request to throw cold water on it. And the perspective of the budget that came over recently. And what we will have with the new administration in place. The reality is and looking at the house of representatives of the of budget of 30 billion debate with the defense hawks and speaker ryan to see that budget expressed in oco which is roughly 23 billion higher. So even with the budget deal have not seen the debate to go beyond more than 10 or 20 year 30 million despite having the majority to put in for that last budget request the us senate announced a hearing or a budget that is essentially for them. We have a of a great discussion of the architecture of deep and important thinking that they probably will not have Appropriations Bi
We do that with a budget deal, it didnt take a billion for that. So if youre going to add another 18 billion or so and oak oh within the house of publican caucus right now they will not go along with it. The strategy has been floated that maybe you wait and have an additional request in the next administration. You basically pond and then wait for a new administration and new Congress Takes office and then try to take a new higher level of funding them. What do people think about that. It is very uncertain what would happen because of the election. The trick here is whether if i can go back to the crs, the trick here is timing. What is the risk of the weight in a transition year despite whoever comes in, whatever party comes in, there is always a. Of time sometimes a very substantial, think during the Bush Administration there is quick action to increase the Defense Budget but there is a huge risk. Of course that could be a strategy but timing on it, who comes in with the contents of i