Overnight in shanghai down almost 4 as the yuan sits near a sixmonth low. The roadmap begins with the markets, the s p starting off shy of the fresh record high and the nasdaq beginning from right around its highest level in 14 years. Home depot is posting quarterly profit above expectations and boosted dividend. Different story with macys and shares slipping after same store sales came in below expectations. And jpmorgan expected to announce job cuts in its mortgage and consumer business. The bulls off to a good start, the dow jumped more than 100 points and closed at 16,207 and the s p hit 1858 before pulling back and closing at 1847. Thats a point away from its alltime closing high. And as we said, the nasdaq reaching a 14year high before closing off its best levels. Jim, you said last night you would try to play the role of the skeptic. I do not like to see the nasdaq at a 14year high. I took to heart some of the comments we said on yesterdays show which is when you Start Talking w
The biotech index is the new vix. Though today the vix is the new vix as well. Oh, how quickly things unravel. The nasdaq is down more than 7 from its high of just a month ago. The russell 2,000 is as well. The Dow Jones Industrial average by comparison is only after 2. 5 from its 2014 high. Thats only a reflection of how poorly it had done relative to the nasdaq until the last week or so. The dow is down 1. 3 . American extress, disney, microsoft, jpmorgan whose earnings are coming down right in front of us here. Some of the real rate sensitive names, rate sensitive parts of this market as that tenyear continues a jawdropping drop db pardon the repetition there is one thing thats getting peoples attention. You can look at some of the big insurers, metlives, and see the pain there. People are jumping out of those higher rate moves. What do people do when they feel pain . They eat and they shop. Mcdonalds is the best performer in the dow. It is actually in the green today. Theyre eating
Multiyear highs and bringing those names up along with it. The airlines in particular are the ones. Now everyones looking to the rails lauren and really quickly, nicole, ibm about the report, hows it looking into the close . Reporter pretty much flat, and thats the way its been. David well, the bells are ringing, and all indexes are in the green. Not spectacularly so, but a solid day for the markets. The Dow Jones Industrial is up almost 58 points, may settle a little higher, in fact, it is settling on the upside as we go into settlement territory these last couple of minutes. S p futures up by ant the same amount about the same Amount Percentage wise. Nasdaq the weakest of all four indexes, although it is in the green. Russell 2000 up the greatest amount today. Lauren we also have to talk about the Airline Stocks certainly flying higher with delta and jetblue leading the charge, hitting a new 52week high. David all right. Lets talk about commodities a little bit. Seeing big gains, fre
Bill is extremely unpopular. Still the 1. 5 trillion tax bill passed early in a vote. Earlier it thought it passed it too, procedural violation requires them to take a new vote on the bill today, this morning, if it does, President Trump says he will take reporters questions this afternoon. Good morning, its wednesday, december 20ing. With us, we have veteran columnist mike barnical, walk anchor for bbc, world news america catty kay, noah rahman, host of casey d. C. On msnbc. Case hunt. Mika has the morning off. We will get to joe in a moment. We should point out catty kay announced yesterday 11 30 p. M. January 2nd your bbc program will be aired in the charlie rose shot. Congratulations. Great. I have been doing this, its about trump, brexit. Everything happening in europe this extraordinary time we are living in. Pbs is picking it up 11 30 p. M. January 2nd. More catty kay is a good ings thing. Thats what my kids say. New polling shows a margin 21 passing the tax bill is a bad idea h
Out of best buy warehouse in new jersey. You can see behind me, we are just in the middle of a shift change. They are doing a team meeting. It has been very busy here all day long. They have been busy fulfilling all of those cyber monday orders. As you said, were expecting 9. 4 billion in cyber monday sails, online sails. What exactly are people dying . It includes clothing followed by home goods, small appliances, smart home gadgets, pcs, tvs, travel experiences. Here at the ecommerce center, its all about efficiency. The robots you are looking at our supplement to the human workers. They sort through thousands of products for faster ordering. This is how you are able to get your order the very next day. We are taking a look at the computer tracking of all of the robots to see where they are moving which products they are grabbing from here, they will go down to a worker who will sort through them. Then they will be boxed by a machine that creates custom shipping boxes to perfectly fi