Small the kinds for the major averages a second day of small the clients. Half an hour ago, the three major averages it line ever subjected climbed ever so slightly higher, but as major averages did climb ever so slightly higher, but as trump was speaking we have big 7. 5 s in this macys down from hitting a sevenyear low after the cfo earlier at an Investor Conference and annual investor date to say that the Company Expected margins to be 1 lower on a yearoveryear basis and as a result, they will be engaging in rigorous costcutting costcutting in order to maintain the earnings forecast. Of course, how much can you cut costs . Investors not cheering that. We are seeing other retailers falling, including kohls, foot locker, and nordstrom. This is an ongoing theme this year, retail, as is riskoff. When you look at the haven bidts, we are seeing a today. Today we are seeing a big haven bid. Haven bonds are rallying. Gold is up 1 . The yen is also higher. Spikinglso have the vix 5. 5 . Not
Modest growth as new initiatives in mobile and other areas kick in. The stock went slightly crazy, got a huge boost after alibaba rolled its results. Forget what is happening at yahoo at this point. Its almost insignificant at this point. Yahoo owns 24 of the chinese ecommerce alibaba. They made more than double the amount they made for the same period a year ago. Revenue jumping 66 to 3. 1 billion. Alibaba plans to file paperwork as early as next week, thats what everyone is excited about, about this potential ipo offering on an american exchange. They are debating whether theyll go with the nasdaq or the new york stock exchange. The sale could be the largest ipo in American History if the companys valuation could reach, what some people are saying could be as high as 200 billion. Jerry yang of yahoo always gets a hard time because he is he the one that made this investment. People thought he screwed yahoo up forever. God bless jerry yang. He saved this company. Marissa meyer should t
All those stories and more coming up on the kudlow report starting right now. Good evening, everyone, im michelle carusocabrera, larry will be back tomorrow night. Dozens of earnings reports on tap. The rest of this week may be tense for the markets. Josh lipton joins us now with the details. Good evening, josh. Weve got a lot coming up. Thats right, michelle. Stocks close with modest declines. The s p 500 breaking an eightday rally. That following mixed economic and earnings reports, the dow dropped 31 points. Among the blue chips, coke, a laggard, matched expectations of 63 cents a share but missed on the top line. The company talking about unusually poor weather in the quarter. Also, goldman sachs, reporting the Company Beats on the bottom and top, but a wellknown bank analyst did lower his rating on goldman from buy to outperform saying increased estimates arent enough to justify the upside needed for a buy rating. On the economic front, home builder confidence jumps in july to its
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