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
Good morning welcome to squawk alley. I am john ford with holly evans. After a series of wild swings in the market, major indexes are higher but not across the board. Dow up 240 the next guest says the fed is partly behind the mayhem the past couple days as the president tweeted about market volatility in the old days when good news was reported, stock market would go up, today when good news is reported, stock market goes down big mistake and we have great news about the economy Tom Mcclellan joins me start with the fed, you think theyre in the middle of this . Good morning. Yes, the president is right. But the link between that and the economy is not as strong as people think what most dont understand, there are two fundamentals that govern movements of stock market first is how much money is there, the second is how much does the money want to be invested the fed is in charge of mostly the first one. I brought a chart. Whats not reported, the fed is selling assets last week they dro
Is europe close. This often happens. We just had a horrible day in europe. Worst day of the year really. A lot of markets down 3 . You see just right after europe closed, closer to noon, the market came up and moved into positive territory. As for china, the etfs in china very heavy volume today. Doesnt matter what etfs, ashr, thats mainland china, the a shares. The second one is hong kong shares. All of them are down though not as much in hong kong as you can see. This is spilling into the emerging markets. A lot of activity in emerging market etfs. For example, indonesia has moved down in the last few days. Those are new multiyear lows for indonesia. The same whats going on in other emerging market etfs for example, br zale. Ewz is very active. This is a 10year chart. We just broke below the 2009 lows in brazil. That was widely commented on trading this morning. With Interest Rates moving down, Interest Rate sensitive groups, particularly banks and insurers are weak. Banks understand
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
Hell tell you why, he debates whether hes rights. Heb it was amazon, it might have been apple too, netflix, apple is hitting an alltime high. 156 a share. Well have those details coming up. And then a rare interview, she was the first woman to head a Hollywood Studio back in the day, not too long ago. Sherry lansing will join us. There is a new buy biography about her i cant wait to talk with her on what shed do today. We have mothers day this weekend, may be a welltimed placism of the book, maybe a good gift. I see youre selling the book now okay. I just realized that would make sense. Yeah. Well ask her about that. We do start with retail which is struggling so much. Its jp penny getting hit hard after reporting disappointing numbers this morning. We also have the retail report from the government this week. Courtney reagan joins us with more. Its very hard in terms of the Department Stores. The numbers are down 20 this week. The numbers are bad. Exactly. I think one of the best perf