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David faber at the new york stock change well talk about the move and impact on tech, media and m a. Feet futures are up well get housing data in an hour and yellen speaks tonight the Justice Department sues to block the merger with time warner saying it would hurt competition and result in higher prices for consumers at t says it is breaking with decades of antitrust precedent by blocking a merger of companies that dont directly compete with each other. Well talk to the lead attorney in just a few moments. As you heard stevenson say, the suit defies logic and erat cal departure from decades of antitrust precedent. It is surprising even now, that we have seen the lawsuit and weeks leading up to the possibility of it. Remember when the wall street journal first reported the possibility it could be blocked. Many people were like, what, really when this deal was announced frankly, action on the antitrust front was way down the li ....
Happen because the journal story last night, also about the huge i think its 7 or 6 of the market are now owned by etfs, which is great until its not. There is a growing group of folks who are thinking if were just buying stocks en masse, will any reversal like the qqq, 100 stocks effectively. But five stocksmake up 40 of the index. So thats why people say, why do you talk about these stocks all the time because their weight matters. Theyre so powerful within the index. Earlier today, i was looking at the s p 500, there were probably only 75 stocks that were positive on the day. By the way, the last down month for nasdaq was october of last year for the s p and dow. It was sooner than i thought it was actually back in march. We should appointment out, this isnt a complete selloff this is a day very much about rotation youve got correct. Selloffs in the momentum stocks, technology in particular a lot of those stocks are not returning to levels that are frightping at this point yet but p ....
Lines. Reporter they are having acce access equipment to get a road in. Theres certain areas dozers cannot work and thats why we bring in the hand crews. Reporter down the street at the coffee house in girl roy. Our heart goes out to them and you want to do what you can. Reporter owner Connie Thomas is part of a volunteer group thats been collecting donations and even providing free coffee to First Responders and evacuees. If that happened to me and if i was coming down off of there and worrying about my animals and stuff like that, i just wanted to do what i thought i would want. Reporter a simple gesture but one that hasnt gone unnotice and now as neighbors wait to head back to their homes. I dont want to see anybody get hurt, you know. Our houses are not worth somebodys life, flat out bottom line. Reporter a sincere message to crews fighting the flames atop loma prieta. W ....
Reported slowing sales growth and said that wont change much this year. Profit at the dow component continued to come under pressure as a result of multibillion dollar investments in worker wages and ecommerce. Investors were hoping to see those investments start to pay off in better results. Apparently it hasnt happened yet. And that weighed on the stock which fell 3 , making walmart the worstperforming member of the dow blue chip index today. Morgan brennan has more on walmarts gloomy outlook. Reporter as walmart continues to bank on a turnaround, it played out in Holiday Season earnings. Investors disappointed after key sales metrics fell short of estimates. U. S. Comparable store sales grew modestly, marking the sixth straight quarterly increase. Nonetheless were weaker than expected. Comp sales. 6, street was looking for 1 , that was a disappointment. Traffic growth slowed down a little bit. Traffic growth was about. 7. This ....