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In mystery name . We get a minneapolis appearance from pete. Look forward to that but beginning with this. Breaking news in retail, the gap scrapping plans to spin off old navy shares jumping on the news. Lets get to Courtney Reagan with the details. Gap, inc, reversing the decision to spin out old navy into a publicly traded company, increasing guidance for the full year and giving leadership updates and a surprise announcement in the last hours shares popping on the news, they were behind be pulled become a bit. But they nounsed the gap pick art feng was out the separation was first announced at the end of february 2019 interim ceo Robert Fisher said while the object he was of the separation remain relevant our board of directors concluded the cost and complexity of splitting into two quips combined with softer Busin ....
And mine the gap sales are surging this morning and twitters jack dorsey soliciting advice to help improve the network. All that and more as Worldwide Exchange begins right now welcome to the show. Stock futures are higher this morning in deeper territory. The dow is up another 63 points. The 10year slightly higher 1. 555 lets go worldwide if you dont like the color green, turn your eyes away the major indices in asia, green across the board paced by the hang seng in honk con up by 1. 5 in europe, youll see more green there. Only turkey and greece are red the cac in france pacing france up by about 1 well look to other top stories this morning with rahel. Chinas economy last year grew at the slowest pace in 29 years. The worlds second largest Economy Group at 6. 1 revealing a country under pressure from trade. Weak Con ....
Might be done. Heres a hint. Lets get right to it because retail is on pace for its worst month since january of last year. Thanks in part to disappointing earnings from maysies, digs and jcpenney. There were a few bright sports. Walmart up 5 , target 3 . Could names like these be Bargain Basement buys . Lets get in the money right now. You just mentioned walmart. Walmart doubled that of the s and p 500. Its really obviously impressive, especially relative to the xrt. You mentioned target, though. Thats the other one. I think there are a couple size mick shifts going on in retail right now. Last year u. S. At 5. 5 billion in retail sales. When you think about amazon, there is other things going on, t too. There is a lot of potential winners here. I think a lot of those other stocks, Department Stores are down an awful lot, pretty oversold. It is a tough trade. The s and ....
First, we start off with the move in Health Care Stocks today. The sector rallying more than 1 , surging to an all time high. This as bio tech stocks continue to break out, tracking for their best week since after the Election Health care, the best performing sector for june, so did we just witness a major rotation of the market and could health care be the next hot area of growth. Yes to all of that . I dont know about all of that your last thing. Then i sort of tune out. I get that. But now, absolutely. Is there a rotation going on im not serp, be but i think people are realizing that valuations in health care make sense. Maybe bio tech isnt under the mike scope we thought it was and now, youre having some listen, i dont think the pfizer, Bristol Myers deal is going to happen, but when you start to hear speculation ....
Not that kind of trouble. Talking about the softness in homebuilders and well tell you why it could get worse the action begins right now. Lets get to it because the amazon whole foods deal has reekeded ravic on the space. Droeger, smucker, campbells soup all sinking. The sector is often viewed as a quote safe space, but are these stocks suddenly dangerous . Is. Lets get in the money. Dan. Well, theres a couple of reasons. Last night after the news hit, we were talki inin ining about retailers and the damage done there. It was senning the stocks back to those levels when that whole foods deal was announced in mid ju june, but theres a sector that hasnt had a lot of Movement Based on the deal. When you think b about how these large retailers will be lining up, you have to look at the products thai going to be selling and when i think about consumer staples, stocks like proctor and campbell 24 types expected earnings only suppose d ....