Weigh s wider restrictions on huawei road map begins with apples coronavirus warning cautioning it does not expect to meet quarterly revenue forecasts. Shares are sinking and dragging the dow down with it plus big tech needs more regulation. Why Mark Zuckerberg is calling for more scrutiny of facebook. And walmart earnings look to fall short as the whole day season takes a hit well hear exclusively from Doug Mcmillon in a few moments. Apple warns it will not meet prior revenue projection due to the coronavirus outbreak the virus limited iphone production and resulted in weaker demand in china jim was talking about getting hit on the supply and the demand side although that original range was above estimates. So how much are we really losing i think that people dont want to hear this. Everyone that i spoke to the chatter is come on, jim, its really bad i disagree in terms of the rest of the world its gotten better part of what i hear, the work i do dont forget, a lot of Service Revenue
Welcome to power lunch, everybody. Stocks are just off the lows of the day. The dow down b about 200 points. Still on pace for its Third Straight session in the red with apple the biggest drag and gold reaching 1600, its highest level in seven years and utilities leading today on pace for a record close the second best performing sector this year next to tech up 9 for more on where the money is move ng todays market, lets get to bob pisani at the new york stock exchange. Hello, again. Much of damage is cue to apple and theyre worried about krohn kro coronavirus. Exxon mobil, another new 52week low there and also were seeing some of the big global industrials like caterpillar, 3m pretty modest response leon cooperman was saying the the biggest risk to the markets is the u. S. Elections and this is the way a lot of the Fund Managers seem to think bank of america, 150, the biggest Fund Managers in the world. He said that, too. The 2020 election is the number one thing. Were all worried ab
Exclusive interview with jay clayton. Power lunch starts right now weve got the market flat on this day but its been a whip saw getting there. This chart shows the swings weve had on one trade headline after another early this morning. Right now the major indices remain mixed were seeing green here and there but mostly flat. Shares of netflix, the stock down 2 after needham says its sale as the streaming wars heat up well have more on that move just a little bit later. Tyler. Markets not getting a boost from the seemingly positive trade headlines today. A deal on the usmca and more time for a deal with china we have the latest House Democrats announcing they reached a deal op a new nafta. Regular compliance and removing certain protections for brand name drugs against generics. The deal will have out sized impact on the auto and pharmaceutical industries. If you look at jobs and nashlg Safe National safety, its time to vote for the bill. The u. S. Able to show progress on this bodes we
Been interesting. Not just value but also small caps. Also industrials, also cyclicals. They wound up beating estimates, coming in at over 600,000. The earnings went up slightly as well. If you have a miss, you get punished. For global exchange. We will bring you todays market news from around the world, from hong kong to brussels to london. First, we start off in asia where china is firing back at the u. S. Mike pences criticism of his actions against protesters in hong kong. He said chinas actions in hong kong curtail liberty rights. The Foreign Ministry blasted the remotes remarks and said we hope they can get their own house in order. I was quite surprised by their response today. Their response yesterday was much more consolatory consolatory from chinese news outlets. They accused Vice President pence of line. They accused him of arrogance. Y said his speech was and the like. As you mentioned, they said the u. S. Has to look itself in the mirror. To your point about consolatory to
I think its going to be significant, 46,000 or 48,000 but you have the supply chain for gm, all of the construction around gm, so youve got a lot of ancillary folks that have been out of work and manufacturing isnt necessarily what drives the economy, its the consumer primarily and we are a service economy, and even though the numbers might be good, its the manufacturing thats really going tamp down here. Neil john, one one of the thins that im hearing to daniels point, not just 48 to 50,000gm striking workers impacting this but up to 200,000 more in ancillary business suppliers and the rest. What do you think of that . I think the estimate that roughly 75,000 to 80,000 jobs being temporarily lost because of gm strike. Neil okay, so if thats the case and they factored that in, is this just a oneoff, what do you think . A lot of reasons it can be a oneoff, results of slowdown at boeing, census workers who were temporarily hired and maybe are coming off the rolls, a lot of noise in the n