Lunch. Im michelle carusocabrera. Checking the markets, s p 500 and the nasdaq higher, not by a whole lot. Shares getting high since late last year. Lower by nearly 5 on the back of earnings. Its not all bad news, however. Shares are surging. Chipotle over a oneyear high. Lets get back to the big market story that as brian moated check out the s p 500 over the last two months, flat, after a very hot start to the year. So what is taking the air out of this market . Bob pisani is going inside the numbers from the floor of the new york stock exchange. Bob, what happened . Reporter good to see you as always. Theres a dangerous uncertainty for stocks. Fiscal reforms are being pushed out. The hohn y moons over on tax cuts and less regulation and infrastructure spending. The president said he was working on tax cuts yesterday. The market ignored him. Weaker data to the Consumer Price index to the Producer Price index, Economic Data has been weaker. The odds for a fed rate hike 44 . Close to 6
And Michelle Carusocabrera with signs of worry, and weve got a big debate this hour on global risk versus global reward. Thats 14 minutes away. First sue at headquarters. Thats right, im in the house. We start this hour with new data on the most important asset for many, if not most, americans. Their homes. Existing home sales ticking up for april. And diana olick is on the case for us in washington. Hi, diana. Reporter hi, sue. And thats right, existing home sales did move up in april. Thats the first monthtomonth move we saw all year, but were not quite out of the woods yet. We know existing home sales up in april 1. 3 month to month, but theyre still down about 7 from a year ago. Regionally much of the nation was unchanged, but the west did see a nice bump up higher. That may be because it began to correct first last year, so it may be beginning to improve for us this year. Sales, though, in the west still down 10 from a year ago. Lets talk about inventory and price because theyre t
May. At t ups guidance, sees 5 Revenue Growth in 2014. The bidding war for jimmy dean and sara lee orts old or hillshire rages on. Pilgrims pride raises its offer, above tysons 50 bucks. This may not be over. Investors, apple wraps up its key. Health, home a fully integrated apple world. Why the stock is down this morning. Record auto sales, chrysler beating estimates. More numbers from car makers in a few minutes. Sales estimates for the year, finally tops 16 million vehicles. At t raisings full year guidance. Company citing what it calls strong Second Quarter wireless trends. Anticipates net post paid subgrowth of 800,000 for q2. At ts quarterly rulses are due out next month. We know the war between the big players, the way tmobile disrupted it. What does this mean . That. This means something but i wouldnt draw too many conclusions here. You have to remember at t did change their way it went about recognizing revenue for handset sales moving to something called iep, equipment instal
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