Climbing ill tell you how its done. Market reached unheard of levels by triumphing over the concerns that caused Money Managers to stay on the sidelines to buy lower prices often hear we climb a wall of worry to get to exhausted levels but today we just didnt scale a wall but beached and busted through mine fields, force fields and cauldrons of boiling oil. This is a quite bull market. Tonight i want to go over obstacles weve overcome amazing list, outside of president on twitter seems to be celebrating is down. Challenges conquered thats a graphic obstacle number one, impeachment. I told you wouldnt matter to stock market based on bill clinton. Buying opportunity, not selling. But sitting president incredibly pro business and House Democrats are trying to take him down and stock market is ignoring whole process, maybe should impeach all president s works out for the averages obstacle number two, recession fears. Job growth is still robust versus the historical norm but over the summer
Forecast to 2. 1 in 2017, down twotenths percent from earlier estimates. Theyre trimming next years Growth Outlook as well fiscal policy will be less expansionary than expected they expect fwrogrowth in china, japan. Happening now, opec and nonopec ministers gathered in russia to discuss Global Oil Output speculation swirling they could ask libya and nigeria to join in on production cuts both those nations are exempt from a deal to cap output. We have much more on the meeting later in the show. Not Much Movement in the energy markets. In corporate news, kkr nearing a deal for web md. They have had a five month auction to be bought they solicited bids interest more than 100 companies and firms since february the price is unclear as of close, they had market cap 2. 1 billion. Put in some symptom you have, and then you find yourself falling into a web of web md leads to self medication, which is not good for anybody. It is good it is out there. Before you couldnt find the stuff. You go to
Alphabet. The stock which you may own in a fund or retirement account or individually initially fell by more than 3 when the Company Reported profits 28 lower than a year ago. That was largely because the company booked a 2. 7 billion fine from european regulators. Ongoing Regulatory Risk is apparently what spooked investors this afternoon. Overall, the business is clicking right along. Net revenue rose 21 to 26 billion. Clicks on ads jumped 52 compared with a year ago. Cloud revenue up smartly as well. Josh lipton has our report on alphabet, the Worlds Largest advertising company. Reporter 18. 4 billion, that was a big number in alphabets latest earning report, refers to google property revenue, revenue generated from search and youtube. Raymond james says its critical because thats the highest margin businesses for google and the revenue jumped 20 year over year. Kessler notes there could have been some disappointment in the report specifically with traffic acquisition costs, thats w
Vegan nail treatments, taking the Retail Experience, and we do mean experience to a whole new level. Well take you for a tour. Pass the avocado juice, everybody, because power lunch starts now im brian sullivan, none of the major indexes are moving that much. The dow tufrned negative but the dow would be higher if it wasnt for home depot, shaving 45 points off the dow this despite an earnings beat and raise the outlook. Investors looking for a little more from home depot outside of that store pretty of an empty parking lot for Retail Stocks and investors in Advance Auto Parts losing 20 of the money both retailers missing profit fimts and giving weak guidance Energy Stocks under pressure crude oil back down to the lowest level since mid july. We begin here in new york President Trump will be focusing on infrastructure today and his arrival come as mid large protests at trump tower. Heres the latest on those stories. Reporter the president is continuing his working vacation at trump towe
That they have killed five suspected terrorists they were wearing suicide belts which authorities detonated in controlled explosions. Police say both incidents are linked President Trump responding to the attack tweeting the United States condemns the terror attack in barcelona, spain an will do whatever is necessary to help be tough and strong, we love you. Meantime, lets check the markets. The dow fell 274 points yesterday. The second worst session of the year but as you can see, its 1. 25 a big number, but 1. 25 . We always need to mention both because somehow we snuck up past 20,000, so that the big triple digit numbers on a percentage basis need to be put into perspective. It gets people nervous on a late thursday especially a late session selloff, that leads into friday its not awful necessarily this morning, but it is down, showing continuing losses. Treasury yields, the markets rallied sharply yesterday. Back below 2. 2 on the tenyear thats whar what wet were loot today. It was