Stock, futures is down sharply healthcare stocks are under pressure this morning and amazon entering the health business, pa partnering with berkshire, finding ways to cut the cost of healthcare mcdonalds reporting a major spending boost for thousands of new stores and digital upgrades. Dow and the s p 500 remains on pace for a 10 consecutive months of gain i think it is true. You come in and when you see stocks, when you read the release and the mcdonalds release in the lets just say in the cave and not look at these you would say wow. These are great numbers. The markets set up to go down you have this team up that we talk about all morning with jai jaime dimon. It is generic, yeah, it is been up a lot and i want to take profits ahead of the president whos going to take credits for a good mark. Ye market you come in and let them take credit we got thursday is National Earnings day so there is a lot of reasons to take profits and not a lot of reasons to say you know what, once to the
Lost more than 1 trillion in market value. And an 8. 5 drop in shanghai last night. Wiping out chinese gains for the year. Jim, what is the story today . I think it is china. What id like to do because its a terrible market. It reads something that is in keeping with that. I sent tim cook an email trying to understand covering apple because that is a crucial part of it. And tim sent me this this morning right before the show. Ill read it. As you know, we dont give mid quarter updates, and he rarely comment on losing apple stock but i know your question is on the minds of many investors. I get updates on china today including thing and we have continued to experience strong growth for our business in china through july and august. Growth in iphone has dproen and weve had the best performance in the app store over the last few weeks. I cant predict the future but our prediction is reassuring. China presents an opportunity over the long term and the growth of the middle class over the nex
Rally pause. Futures are flat as investors await further futures from the feds on its interest plans call it the amazon effect. Shares of bed, bath beyond slashes fullyear outlook. The most destructive storm in modern history puerto rico suffering that direct hit from maria. After another day of record highs for stocks, wall street focusing on the fed which wraps up its twoday policy meeting this afternoon the policy Statement Due at 2 00 followed by the News Conference a half hour later. The watch is on to see what the fed will say about reducing its Balance Sheet. This is the head of the journals finance section today and that is markets uneasy over fed action as this treasury slump, jim, is now the longest since march. Yeah, i mean, i think that were all kind of dealing with the idea that the markets, i looked at that headline and i say, if the markets arent easy, why did we hit a high. Dow jones, s p, nasdaq if for once were not beholden to what the fed says i want to know about th
Moments ago. Josh, nice pictures of that first customer in line actually, a bunch of customers getting a handshake from cook on their way in thats right, guys. You can see the store here is opening right now in downtown palo alto. Youre looking there at apple ceo tim cook was here greeting the crowd, greeting the first customers. This has become a real tradition at this store. Cook is often here, welcoming the first customers looking, of course, to buy the new iphone x. Apple, remember, calls the phone the future of the smartphone and call the edgetoedge display, wireless charging, facial Recognition Technology in fact, we caught up to the first guy in line at the store and hes been here since tuesday night waiting to get his hands on this phone, and it was face i. D. , that was the feature he was most excited about of course, the starting price for this phone, 999 apple told walkin customers they could come and pick up the phone, but remember, they caution people, listen, you better a
And more. The nasdaq rally rolls on buoyed by apple which reports tonight and united ceo set to testify on capitol hill this morning. What is at stake for the carrier and the industry . First up the president s comments about considering breaking up the big banks, created a lot of buzz yesterday on wall street. Jim, the point was made he doesnt often talk about the big banks, talks a lot about community lending, but that did give the markets a bit of a scare. Was it deserved . I think that the president when hes in front of particular audiences likes to say the things that the audiences want to hear. This audience does not like the big banks, feel like what happened during the Great Recession was far too much concentration in the hands of wells fargo in the hands of jpmorgan and bank of america, but remember, those were really at the behest of the government. They were trying to make sure that everybody was able to have a bank that worked and we didnt have a collapse. So to undo it whi