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Well see. I think people were talking about that at the time. Yes. Well do aldi versus walmart. And trade secretary mnuchin in italy to find a way of trillions of dollars in foreign earnings to be brought back to the United States. We have it live from the g7 summit. We begin with macys crushed on weaker than expected earnings. Courtney reagan with more. Once again, courtney, retail in a reluctant spotlight today. I know, isnt that the truth. Theres no signs of a turnaround for Department Stores today. Almost across the board, macys shares down 115 . The disappointing results were in line with the expectations. On the call, the cfo said she only expected the First Quarter to be the weakest. Despite its ninth straight quarter of misses, she is reiterating the full year forecast. She acknowledges the challenges, but finan ....
The sector pressure the entire market, getting hammered yesterday, what this means to house of the consumer, the economy and your money. Macys stock down 17 yesterday, broader markets today look like this, futures indicating a weaker opening for broader averages today. Dow industrial expected to open 30 points, dow headed for the fourth day of losses in a row, of course, retail store one of the big stories for broader markets yesterday. In europe stocks, ftse is up a fraction, cac quarante is up a fraction. In asia overnight, mixed performances, take a look as you see there the nikkei average in japan down a third of a percent, shanghai composite in china up three quarters of a percent. Stephen colbert is firing back at President Trump after the president called him a notalent guy. All the stories coming up this morning and joining me fox business dagen mcdowell, recon capital and horizon manager, kevin kelly and the wall street ....
The very latest. A lot of action there as anticipated. And a Health Care Proposal from republican senator ted cruz is gaining apparently some traction on capitol hill well have details on his amendment, proposed amendment and reaction from the ceo of mt. Sinai hospital lets get to our jon fortt, shall we, beginning with some big job cuts over at microsoft jon is in san francisco. Jon . Reporter yeah, kelly, microsoft set to cut thousands of jobs as it focuses its efforts on the cloud, reorganizes its sales operation around that. Its going to be less than 10 of its overall sales force of just under 50,000 people, but cant get a lot more specific than that. Also, some corporate functions connected to sales now, most of these jobs are going to be overseas more than 75 of them. This reorganization, think of it in terms of a different way to approach selling cloud to the enterprise, to finance, to health care. Lots of different s ....
Chipotle today its a new problem but its an old problem. The stock sinking on news a restaurant in virginia closed after a number of customers became severely ill after eating there. Well tell you where it is i guess i just did, and how chipotle is handling that issue coming up. Lets start with the financials weighing on the dow. Goldman sachs the biggest loser after its Earnings Report out this morning wilfred frost is here to break that down for us. Goldman sachs failed to navigate the market as they aspired following another good quarter in the markets and currencies business. Heres their show Martin Chavez. The primary driver for the declines sequentially are year on year. Was lower client activity with all the drivers that we that we discussed, lower volatility, less dispersion, less opportunity. Commodities is a story of challenges on all fronts, and there was lower cli ....
Exuberance lead to a flood of ipos. We will look at which companies go public. Very high profile names. Breaking this morning, Goldman Sachs executive has reportedly been offered a position in the Trump Administration. We have more on what that could mean not only for the Trump Administration but Goldman Sachs itself and the issues they may face. And president elect Donald Trumps team is starting to take shape. Larry kudlow will discuss whether the picks will bring that deregulation so many investors are now expecting. Speaking of which, lets start with the market new highs. Bertha coombs is in times square and bob pisani is behind us on the floor of the new york stock exchange. Ladies first today. Nas ....