there, d-11! d-11. what s d-11? i think it s the 11th all things digital conference. the 11th year of the all things digital conference. ooh! that s what it is. let s talk about it. apple s ceo tim cook kicking things off at the all things d conference, sees more changes, says apple will continue to innovate, but he stopped short about talking about specific products. he was also asked about wearable technology, something we talk about often. take a listen. i think for something to work here, you first have to convince people it s so incredible that they want to wear it. because where you two guys are wearing watches, if we had a room full of 10 to 20-year-olds and we said, everybody stand up that has a watch on, i m not sure anybody would stand up. yeah. i don t see it. and cook was also are you wearing one? i don t. i m wearing one, but it s not set. i don t have one. let me see what the date is. i m not wearing one. sometimes i do wear one o
turning. you re talking about the economy and there is a look at the markets which is bottoming. let s get our road map started, in fact, and it starts with what else? the markets. after a record-setting tuesday things are shaping up for a volatile down wednesday and that could push it down to square one for the week. in the largest-ever chinese acquisition of a chinese acquisition shumway international can take it private for $5 million. the company has several more game changers in the works hinting that wearables are ripe for exploration. kors higher in the pre-market after quarterly results beat estimates and same-store sales soared 37%. it was just down because of the big slug of insider stock. let s get off to the start with the markets, of course. futures, we saw them, they re lower and they threatened to wipe out gains from yesterday s rally which saw the dow up 106 points closing above 15,400 for the first time ever. worries are resurfacing about, what else? th
a dollar. that s a drop of just over 1% to 94.93. on the economic agenda, retail sales and business inventories are out. retail sales looking for a 0.3%. 0.2% when you look at autos. in corporate news, jpmorgan s ceo jamie dimon may leave the company. he made the comment at a meeting with investors last week. shareholders will vote. we ll talk to a jpmorgan shareholder calling for that split. in washington news, a senior irs official new in 2011 that they were giving extra scrutiny to conservative tea party groups. the report on the irs practice and who knew about it and when is expected to be issued publicly soon. john harwood will be joining with us for more on this. that s coming up at 6:40 eastern time. in the other big story of the morning, a controversial privacy breach involving bloomberg reporters and the company s data terminals has wall street and washington buzzing. at issue is word that the financial data company had allowed journalists to see some informa
japan s monetary policy. chinaa industrial production also rebounding from last month s seven-month low. our road map begins with markets with an unexpected rise in retail sales and a three-week winning streak behind it. breach of trust. bloomberg news editor in chief saying the financial news services holding itself responsible after the terminal usage data. jamie dimon signaling if the roles are split he might do the same and leave the bank. michael kores, morgan stanley to the best ideas list. the third con skut of week of gains and the dow finishing friday with an all-time closing high, 15,118. and the s&p at 1633. meantime, the first key economic report of the week is out. retail sales for april up unexpectedly by .1 as demand for items like cars offset the largest decline in gasoline sales since december of 08. we knew gas would take a bite out of this and it didn t seem too hurt too much. we re at a weird juncture here. i am being bombarded by smart people
think about on this last trading day of the month. and it s official, there has been no correction. remember my last anybody that was waiting for it. and people who thought that they were so the same guys we were talking about saying don t commit any money to this post past six months, they re all wrong again. for the last two weeks, everyone has been a little more bearish. we ve got a 3% pullback. the construction is 10%. 5% is what you d call a pullback. 3% is more of the same. that s just giving you that s buying a gift. that s buying a dip sfp. nobody said buy that dip. they thought it was going to be a bigger drop. right. if you pick up like a point or two utilities wag interesting. all the major s&p sectors finished the day higher. the leaders, tech and materials more than 42 stocks in 52-week highs yesterday. year-to-date, check out these returns. the dow is now up officially 13%. the s&p about 12% and the nasdaq 10%. and you re right, we have