And thats what happened today with the dow roaring 217 points, s p 1. 4 and nasdaq flying up 1. 82 . Think about the sequence of events just over the last couple weeks. First the fed says things arent Strong Enough for them to raise rates, economys not that good. Secondly china putting up very weak numbers. Third, Major Industrial Companies Like caterpillar tell us business has slowed down maybe dramatically. Nonresidential surveys show a pause in building. Fifth, we hear major mineral mining like alcoa, six Delta Airlines just talked about developing wide body airplane. Seventh, that powerful engine of job creation the oil and gas industry has gone almost full stop because of an epic glut in all things energy. Finally, eighth, the c only yesterday we heard the Worlds Largest retailer, walmart, sing the blues. About the need to spend a fortune in order to stop the death by a thousand cuts of weaker same store sales. You put all these together and you get something weve seen happen time
Mining like alcoa, six Delta Airlines just talked about developing wide body airplane. Seventh, that powerful engine of job creation the oil and gas industry has gone almost full stop because of an epic glut in all things energy. A finally, eighth, the only yesterday we heard the Worlds Largest retailer, walmart, sing the blues. W about the need to spend a fortune in order to stop the weaker same store sales. You put all these together and you get something weve seen happen time and time again in opere buyers cut loose from the industrials, and they go for the gusto. They return to their always companys that have hypergrowth no matter what the state of the worlds economies. Er and where is there real growth and corporate revenues in profits regardless of the economy . The first place you look is biotech. Gr this is a sector switched from bull to bear overnight. He its been a oneway ticket to sheer hell for weeks now augmented by fears that the ks democratic president ial candidates in
Us business has slowed down ha u n maybe dramatically. Nonresidential surveys show a at pause in building. Fifth, we hear major mineral mining like alcoa, six Delta Airlines just talked about developing wide body airplane. Seventh, that powerful engine of job creation the oil and gas industry has gone almost full stop because of an epic glut in all things energy. A finally, eighth, the only yesterday we heard the Worlds Largest retailer, walmart, sing the blues. W about the need to spend a fortune in order to stop the death by a thousand cuts of weaker same store sales. You put all these together and you get something weve seen happen time and time again in opere periods of economic softness. Buyers cut loose from the industrials, and they go for the gusto. They return to their always first love, the stocks of companys that have hypergrowth no matter what the state of the worlds economies. Er and where is there real growth and corporate revenues in profits regardless of the economy . T
Well. Road map begins with retailers suffering the same fate as target. Neimanmarcus is among those whose Customer Data also breached. Hear what targets ceo told becky quick, next. Ford unveiling a big change to f150 pickup truck, using aluminum in the body. Alan mulally will join us in a moment. Suntory planning to buy u. S. Based beam for 14 billion after accounting for assumed debt. Target is not alone when it comes to data breaches. Neiman marcus says mack hacker may have stolen information. In an exclusive interview, target ceo telling becky quick, the retailers accountable for the data breach that affects 10 million customers. The full extent is not known but malware installed on the point of stale registers. Target working with Law Enforcement to determine who did it and when it was done. Also steinhafel says target has work to do regaining customers trust. Challenging times for target, i can tell you that. Its a real. In the gut. Throughout the crisis, weve had a singular focus
L. A. s sunset boulevard are going to have to find another way to work this morning. Crews are still cleaning up after this massive water main break near the ucla campus. It couldnt have come at a worse time with the city suffering from a historic drought. Curt gregory brings us more. Look at that water pressure. It is still blasting out of there. A water main break along los angeless sunset boulevard near the ucla campus late tuesday afternoon sent water gushing 30 feet in the air, stranding cars and flooding parts of the university. The 30 inch water main blew out a ten foot wide section on the roadway sending a torrent of water on to the north end of the campus. Flooding athletic fields and underground parking garages. The two parking structures we had to do five rescue operations in those areas. Reporter video and pictures posted on social media showed the water flowing outside the campus buildings and into the underground garages. Ucla officials reported water did make it inside t