The latest is super value. That grocer cut its profit outlook for the year in large part because of food price deflation but also because of increased competition. And that sent shares of super value down 9. 5 in trading today. Its not just super value. Yesterday we reported that Sprouts Farmers Market cut its guidance because of significant ongoing deflation. Californiabased smart and final stores cut its outlook in july for the same reason, and Dollar General also mentioned deflation as a threat on its Earnings Call last month. Tomorrow kroger, the countrys largest supermarket chain, and a barometer for the industry reports earnings, and many are expecting to hear much of the same. Susan lee takes a look at the expiring fortunes of the grocery industry. Carton of eggs, 40 cheaper, whole milk that costs 11 left, beef, pork and chicken at a discount from 2015. Fruit prices have been falling for nine straight months, according to the bureau of labor statistics and on track for the longe
Definitely being strained. The latest is super value. That grocer cut its profit outlook for the year in large part because of food price deflation but also because of increased competition. And that sent shares of super value down 9. 5 in trading today. Its not just super value. Yesterday we reported that Sprouts Farmers Market cut its guidance because of significant ongoing deflation. Californiabased smart and final stores cut its outlook in july for the same reason, and Dollar General also mentioned deflation as a threat on its Earnings Call last month. Tomorrow kroger, the countrys largest supermarket chain, and a barometer for the industry reports earnings, and many are expecting to hear much of the same. Susan lee takes a look at the expiring fortunes of the grocery industry. Carton of eggs, 40 cheaper, whole milk that costs 11 left, beef, pork and chicken at a discount from 2015. Fruit prices have been falling for nine straight months, according to the bureau of labor statistics
Coming up, two guys who are facing off each other in the ring when it comes to puerto rico. Jim millsteen, renowned restructuring attorney, advising puerto rico. Well talk to him about puerto rico. He was at treasury during the financial crisis. Knows a lot about that is go on with the European Banking system. Well discuss that with him as well. And ambac could lose a lot of money if jim millsteen gets his way. Well talk about that coming up. What is happening in puerto rico, guys, emblematic of what is happening in the world. Too much debt that people, governments, companies, cant pay back. Tyler, back to you. Thank you very much. Enjoy the warm weather down there. About 22 up here in englewood cliffs. Janet yellen getting grilled on capitol hill. The verb we always use when somebody goes up on capitol hill it seems, saying negative rates are not off the table. Lots of red numbers right now. Lets look at the dow, which is off by 322 points, not the lows of the day, but nevertheless, b
The oil part along with oil prices, it is not a big rally by any meaning. All three major averages higher but none of the region reaching for tense or even half of 1 . Even as we have seen this big recovery from the lows, if you look at the bloomberg here in the s p 500, we have not re obtainedattained that level. I also wanted to point out what is going on with bond yields. This is wb, which lists bond yields across the globe. I want to show you this column if you can see it. This was the topic of discussion at yesterdays zone investment conference. We heard folks criticizing the negative rate regime. We heard Stan Druckenmiller saying that people should be selling stocks and buying gold because of concerns about global growth. If you look here in the United States, of course, we dont have negative yield at this time. The 10year note today, going back to markets, we have not seen a lot of activity either way. If you look at Something Like the dollar versus the japanese yen it is actua
A wholesale manager says there is a need to build up supplies and levels. We dont know what next year is going to bring. It could be the first of multiple dry years. Conditions arent where they were before the drought started. We need to recover those. How do you find the balance . Federal maps show the states exceptional drought foot print is smaller, however, john noel points out that they can be dry some years and wet in others. I think were going to have to wait until summer before we can say go from 71 chance there is going to be a la nina to yes. Its almost a certainty. Reporter san jose water says its in favor of keeping restrictions in place. In los gatos, david louie, abc7 news. Using less water because of the drought should mean spending less on water. Abc7 News Reporter Laura Anthony joins us live where less is turning into more. Laura . Reporter less water usage means less revenues to the city, creating a giant hole that leaders are now scrambling to fill. Residents have be