Our road map begins with the dow within striking distance of 18,000 as jobless claims fall to about eightyear lows. Ecb and bank of england hold tight. Costco comp sales up, walmart downgraded, Dollar General missing expectations. Only hours left in the cbs dish standoff. Boath ecb and bank of englan standing pat on interest rates. The bank staff stepped up preparation for further members to combat deflation risks. Jobless claims fell last week by 17,000 to 297,000. Blue chips within about 88 points of 18,000. I liked the cover of usa today as we prepare for the jobs number tomorrow. Front page story on how americans are more willing to quit. People quitting their jobs at a rate not seen since 2008. Thats confidence. Takes a lot of confidence to quit. It does. It helps to have health care or know you can get it. That with some of the people who support the aca say that is one thing it would promote mobility in the work force. Mobility is important. If oil stays here, there are 16 state
Oil stable. And tenyear has crept down to 1. 77 1. 77. Futures falling. Earnings painting ableak picture. Greece continues to weigh on the markets too. Seven Dow Companies, p g, pfizer, caterpillar, dupont, 3m microsoft, and united technologies, all seven lower. Nyc largely escapes storm unscathed but Boston New England battered by heavy snow. Well get live updates on Flight Cancellations and travel around the region. A rough morning in store on wall street. Wave of earnings news sending futures tumbling. Dueuponting proctor gamble, pfizer expect the stronger dollar to weigh on full year profits. Caterpillar, a warning for 20157 the ceo on Squawk Box Oil is a piece of our energy and transportation is worth about oil and gas is about a third of that business. The natural gas piece of that business is doing pretty well and so far holding up. The oil piece, though what were taking down and thats the primary number for our reduction in 2015. Jim, not only did he say when it rains it pours
Tenyear yields above 2. Fourth quarter gdp revised down to 2. 2, above estimates road map begins with the markets, shaking off that disappointing gdp number. As we kick off the last day of february. But the big question, could today be the day we finally see nasdaq 5k . Retails in focus, earnings miss, jcpenney shares down nearly 13 in the premarket. A better report from gap puts that company in the green. Return of the mac. Shares of mcdonalds up 6 in two days. Why its shares could hit the 100 mark for the First Time Since july. But first up Fourth Quarter Economic Growth slower than the government expected. Up 2. 2 compared with previous estimate of 2. 6. The nasdaqs up 7. 6 for the month and is within 13 point of 5000. The dow rising 6. 1 . Its on track for its biggest monthly point gain ever. S p up 5. 8. You dont get numbers like this too often. No. January was gloomy people saying, gee, as january goes the rest of the year. Completely wrong. We have Conference Call talking about
Coming up in a few minutes. A couple of different stories were watching. The nasdaq partying like its the year 2000. Closing above 5,000 for the First Time Since then in only the third time ever. The nasdaq now. 8 away from the record close. There is a surprise from down under this morning. Australia central bank holding back on further easings. Gasoline prices jumped 37cents a gallon. Now thats the largest week to week increase since the agency began its survey in 1992 but life is relative and if you remember where things were six months ago its hard to complain. So it doubled in three and doubled again in three. So it doubled 72 divided by 3 is 24. 24. So its probably is it 24 return in six years if it quadruples . Yeah. If it sits right you can do it. So the nasdaq is up so instead of 6 or 7 for equity appreciation the nasdaq since 2009, 24 a year. So stay out of the market. If you put that money in 15 years ago youre just giving it back. They didnt have money 15 years ago. They wer
And europe is hurting especially spain. Lets start with the markets and the stocks set to open in the red as the dow and s p are on pace for their worst week in a month and a half following a slide in several emerging markets and the international currencies. Microsoft set to open in the green after reporting stronger than expected profits. And starbucks getting a jolt set to om higher after First Quarter earnings top estimates and starbucks raised its guidance for the rest of the year and well talk to the chairman and ceo shoulder shultz later on this hour. First up, though, futures are falling one day after the 176point drop in the dow and the s p on track for a second week in declines in the wake of the selloff in emerging market assets. Slower Growth Prospects in china and various local political issues among the key factors. Of particular note a big drop in currencies like the lira which hit a record low against the dollar this morning and the argentinean peso. It has authorized c