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Even the initial drop was not a huge one, not even 1 . All three major averages are down. The dow is down 30 points. At one point, it was down about 100 points. Iscould be worse, i guess, the way to look at the averages. This is despite the job report coming in much weaker than estimated, and on top of that, we got a Services Report that was weaker than estimated, showing the slowest expansion last month going back to 2014. Interesting phenomenon we are seeing. Take a look at the groups on the move to see what is supporting the gains we are seeing. It looks like it has to do with the drop we are seeing in bond yields. Utilities are up and Telecom Stocks are up, and those tend to be the groups that benefit when yields are lower. Consumer staples also representing the defensive groups. Financials are far and away the worstperforming group. Look at what is happening with the ba ....
Apple news today. Company getting a big investment from Berkshire Hathaway, the Ride Sharing Service he just invested in there could be looking for a u. S. Ipo. Shares of yahoo up on quicken loans founder part of a Consortium Bidding for the company. Warren buffett says hell back it. Major m a deals, pfizer making a 4. 5 million purchase. But first, Berkshire Hathaway has revealed a new 9. 8 million stake in apple. Meanwhile, apple ceo tim cook visiting china in an effort to reinvigorate sales in that country. Hes expected to meet with chinese officials and is already met with the president of didi just days after apple announced that billion dollar investment in the ride hailing startup. Met with some other startup creators as well, posted waebo w ....
And were going to get more numbers today. Our roadmap begins with apple shares falling in the premarket after the Company Reported a drop in Quarterly Sales for the first time in 13 years. So what happens now . We got reports that comcast in talks to buy dreamworks animation. That has the stock soaring this morning. Well give you the latest. And twitter shares down about 15 after reporting revenue that misses estimates. Well hear what jack dorsey had to say about the quarter. First up, the miss for apple taking a toll on the stock, quarterly revenue down as iphone sales slide for the first time. For the Current Quarter heres what tim cook said on last nights earnings call. As we continue through the june quarter, id like to remind you that we measure the health of customer demand based on sell through. Despite ending ....
Disruptions from those wild fires in canada. Weve known that for a while. Helping energy and industrial stocks move sharply higher as well today. Now, wells fargo is unveiling a new loan offering to get money to Small Businesses much faster. The chief operating officer tim sloane will join us in an exclusive interview. He ee going to talk to us about new initiative and whats been happening all across this space. We have a lot to talk with mr. Sloane about. Amazon, maybe youve heard theyve targeting barnes noble and walmart and others. Now its youtube. The new video strategy coming up. And disney. Espn, theme parks, movies, and succe succession plans will be starting it. Dominic chu is tracking things for us, y, dom. I asked a number of traders if they could peg one exact item or two on why we got the rally. No one can sates one definitive thing. I want to show you what some of the guys are talking about here. Its a little draw m ....
The shine off. Europe higher, the price of brent getting relief. Back home, november cpi with a two handle year on year. Hat fed hit its target ahead of tomorrows decision . Anticipation from the markets. The feds twoday meeting starts today. Tomorrow is the highly anticipated announcement, will they or wont they . Shares of qualcomm are up in the premarket on news they will not break into two. And apples losses continue, one of the key suppliers slashing guidance today. First up, todays the day the fed kicks off the twoday policy meeting. Many expecting it to end with the first rate hike in nearly a decade. Futures are off their highs of the morning after 3m cuts its current year guidance. Oil giving up gains as well, wti hovering around 36 a barrel. Interestingly, the opec secretarygeneral says that low prices cant continue, and they reiterate their guidance that they think nonopec supply will come off next year. Definitely will. A lot of this junk bond scenario that we talk about in ....