Cyber monday sales were. U. S. Markets said to keep chugging higher as russia warns of a possible slide into recession. First up, apple in focus after the stock fell more than 3 yesterday. Raising their price targets on apple. One says this could be the top of the iphone growth cycle. They are relatively cautious here. We have blown through some targets. Kaiu has a sector perform. That is a guy i frankly dont listen to. I listen to people who liked it and are calling tops because a guy who has fought it doesnt have as much credibility. Im looking at the canacord note. Expecting the 200 million iphones, the merrill note. Pacific crest wants to trade apple. I believe trading apple is a suckers game. They were skeptical going into the launch of the 6. If they didnt have something mindblowing, he probably would down grade them. Didnt do it till now and missed a run. Ive got to tell you, there is talk of multiple praction. The multiple here is 14 times earnings. Ive got stocks selling at 1
Ten year right around 1. 9. China trade was amiss and uk inflation at a 14 year low. Stocks pointing higher as earnings begin to roll out. Different story for oil fall to go merely a six year low as opec says it will not change its drought put strategy. And speaking of earning, alcoa did top expectations. What the ceo has to say about their Fourth Quarter results. Plus why Credit Suisse thinks iphone sales could drift stock to 130. But stocks look to end a two session losing streak. Oil back down below 45. Oil minister defending opecs decision into the tonot to reduce output. Brent around 45 as well. It was said its not about whether the price hike will come, its about more the timing. All i can tell you is that other countries and other continents are starting to react positively. Getting better feel from china. Europe were hearing Better Things because of the oil tee decline. India were starting to get a good read. The calvary is beginning to come from this low oil whereas we have ob
Futures are up 10 , consumer stap ems flattening out. And two of chinas richest men lost billions in just a few hours. Well tell you who they are and how they did it. But we start with a very rough trip for mcdonalds. Protesters have hit the street outside of the companys Shareholder Meeting. Theyre protesting low wages. Kate rodgers has been monitoring that meeting. The protests and the stock, which as we mentioned is trading down by about 0. 8 of a percent today. Kate. Well today was ceo Steve Easterbrooks first Shareholder Meeting in oakbrook illinois where he acknowledged mcdonalds challenges and touted his turnarounds. The biggest takeaway was a clear win for shareholders. One of the measures passed was a proxy access by law. Those who have held 3 of mcdonalds stock for three years to propose director candidates on proxy materials. This was a shareholder proposal that mcdonalds did not want to pass but it passed with 61 of shares voted. This is a way to make the board more account
To 2 here as we await a big week in europe as well. We start with the markets. New optimism about the cliff. President obama in myanmar saying hes confident the fiscal situation will be dealt with hours after he hit the phones calling top ceos. Lowes shares on better than expected earnings. The results renewing hopes this morning about the housing recovery. International pressure mounts for israel and gaza to agree to a ceasefire after a weekend of air strikes leave a dozen dead and hundreds injured. Brent continues to climb with gold going higher. The president and congress will strike a deal to restore the fiscal cliff. Over the weekend in asia, the president said hes confident we can get the fiscal situation confident and reached out to ceos including tim cook, Warren Buffett and jamie dimon. After top house and Senate Leaders say fridays meeting was constructive. We see headlines that may bring news to other companies. Intel ceo Paul Otellini to retire. During this period where a l
Now off that low, down 39 at 12,756. Nasdaqs lower. Apple is also lower today after that monster 7 plus rally yesterday. Its down about a percent right now. The nasdaq down 8plus points. The s p is down 3 at 1383. Not a lot of news from the bernanke lunch except this. The federal chairman warning that if the economy does go off the fiscal cliff, he cant help. He has no more tools. Take a listen. We can certainly have a meaningful contribution to supporting recovery, but in particular, in the worst Case Scenario where the economy goes off the broad fiscal cliff, the largest fiscal cliff, which according to cbo and to our own analysis would throw the economy into recession, i dont think the fed has the tools to offset that. Thats why it is important for congress to address these fiscal issues soon. Boom. Thats where it was. You got that immediate market reaction. You were there. There was a reaction at the crowd too. Everybody has agreed that was the one thing he said that was probably n