Dollaryen pushing a bit higher. You are also looking at the 10 year going no real place, and oil trying to stabilize as earnings continue to rollout. Honeywell the latest, suspending their fullyear guidance. Time for todays market moving news from new york and washington. Lets start with earnings. We are about halfway through the seasons. Oil giant chevron out this morning, cutting capex for the second time at about five weeks, warning profits will suffer. Bloombergs Annmarie Hordern has more. Annmarie thats right, that capex headline is really the one to take away from chevron. Clearly, they are doing what they can to save cash. The original plan before they cut earlier was for 20 billion. 14 billion is roughly where chevron has been spending over the past three years or so. Dividends has been a big topic for the oil company. Sayingre now they are they are doing everything they can to protect it. In just going to be out under 30 minutes. They said they are going to freeze it. One thin
Whenever you get an inversion like that, it tends to signal a recession within the next year to 18 months. This is the most in verdict it has been since 2007, which was the year the u. S. Did go into what ended up being the worst recession since the great depression. Nobody is predicting a severe outcome this time, but it is probably the loudest and clearest signal there is trouble ahead. We will talk about what relation that might have with the currency wars. In the meantime lets go to Kevin Cirilli at the white house. The president is in dayton on his way to el paso. What is the reception he is getting . Andn some residents Prominent Community leaders have asked the president not to attend either of these communities. That send, there has been politically divisive rhetoric that has engaged on the 2020 democratic president ial campaign trail, notably from beto orourke. At aroundent, midnight, tweeting out a political attack against beto orourke, calling him phony, among other things.
Lisa but interestingly, they also took down their loan loss estimate, so that basically speaks to the strong consumer. The question is if wall street revenues dont pick up and trading volumes dont pick up, will it be enough to have a strong consumer to drive Bank Earnings Going Forward . David it is not just jp morgan. It is also Johnson Johnson. We got earnings from them, and they beat on earningspershare and revenue. 2. 58,spershare was revenue was 22 billion. It was driven by pharmaceuticals, but most of the queries will be about the legal complications from opioids and talchis asbestos in allegation. Lisa it will be interesting how they frame that. David we will have more on j js earnings later this hour with joseph wolk, Johnson Johnsons cfo. Climbing a little bit. The dollar getting a bid, and to year yields up just a basis point. David at 7 30 this morning, Goldman Sachs reports secondquarter earnings, followed by wells fargo at 8 00. At 8 30, the u. S. Releases retail Sales Num
The other suspect is still on the loose. Why do you think you were a target . I hate to say it but because what i look like. Reporter after this spritzer is worried for the safety of his local Jewish Community especially his son. I can stand up and defend myself but my 10yearold, it gets you thinking in the morning if i should allow him to walk out or not. Reporter he is aware now of whats going on. You try to see who is behind you. Reporter spritzer has worked here for 12 years and nothing like this ever happened. In brooklyn, ilana gold, cbs 2 news. Right now, state police say they dont have any leads on the other teenagers. A bombshell today surrounding Sheldon Silver the man who was once one of the most powerful lawmakers in new york, federal prosecutors say that former new York Assembly speaker had affairs with two women and abused his power to help them. Now on the circus in albany. [ music ] reporter it was a secret Sheldon Silvers lawyers fought to keep private but a judge made
Kathmandu, the capital. First report said there were no damages to kathmandu, but it may take some time to determine impact. John kerry is in russia meeting with Vladimir Putin. He arrived this morning in sochi, the black sea resort for last years winter olympics. Relations with the u. S. And russia had been strained over a variety of conflicts. Kerry wants prorussian rebels in the ukraine to honor a ceasefire. The National Football league is coming down on the new England Patriots for the fleet gate for deflategate. The patriots have been fined 1 million the most in sports history for the nfl. They also lose a couple of valuable draft picks. Brady was aware that the football that was used in the afc championship game was partially deflated. He plans to appeal. There is no breakout republican candidate in New Hampshire yet. The poll shows rand paul, marco rubio, and jeff push all have failed and jeb bush all have between 59 and 62 . But scott walker and ted cruz are right behind at 54