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Are going to disadvantage democrats but the truth of the matter is that if we have a strong message, if were speak to go what the American People care about, typically the popular vote and the Electoral College will align and i guess part of my overall message here as i leave for the holidays is that if we looked for one explanation or one silverbullet or one easy fix for politics, then were probably going to be disappointed. There are just a lot of factors in whats happened not just over the last few months but over the last decade that has made both politics and governance more challenging. And i think everybodys raised legitimate questions and legitimate concerns. I do hope that we all just take some time, take a breath, thats certainly what im going to advise democrats, to just reflect a little bit more about how can we how can we get to a place where people are focus ....
Again, as you probably know currently 49. 60. Tenyear yield below 2 . Apple making history once again. First u. S. Company to close with a market cap above 700 billion. Hours from now, greeces finance minister set to meet with eurozone counterparts in hopes of striking a debt deal. Pepsi beating the street. Pepsicos Financial Officer hugh johnson will join us in a few moments. Apples making more history, becoming the first u. S. Company to close with a market cap above 700 billion. Two, exxon mobil, 385 billion. Apples ceo tim cook attributing the success to rapid growth in china. Also announcing partnership with first solar to build 850 Million Renewable Energy farm in california, jim, in monterey county, where theyre going to power not just own headquarters at data centers, retail outlets. Ive always liked first solar. Glad hes teaming with them. Used to be hig ....
We begin with the markets. Additional pressure today after weaker gdp data, dow and s p starting from a deficit after yesterday, the worst day in two weeks. Supreme court expected to issue more decisions this morning, and we are awaiting the big one with the broadcasters. Googles Developers Conference kicks off, rumors of a top box unveiled and a shareholder meeting. Lets hope they make it on time. Raising an outlook for the year, planning to double earnings in five years. All right, first up, governments first final revision of the gdp, economy contracted 2. 9 , lower than the estimate of 1 , the fastest rate of decline since 2009. The data comes after the dow suffered the worst triple digit loss in a month, and s p finished negative after hilting highs in the session. By comparison, down 2. 9 sounds bad, is bad, in 2008, only down 2. 2. Worst after that, though, didnt it . Absolutely. That was the belly of the beast, and ....
As we said, the tenyear getting awfully close to 2 . Inversion blowback. The killer here, shire down 25 and a lot of big event funds getting crushed. Earnings from bank of america, blackrock are out, both beating on the bottom line. Can financials lead the market higher . First up, new data adding to concerns about the economy. Stock futures extending their losses this morning after september retail sales fell more than expected, down 0. 3 . Thats excludeing autos. Sales declined 0. 2 . Also seeing a bigger drop in oil prices after that tuesday selloff. Thats crudes biggest oneday slide in almost two years. Oil is down 23 , jim, since june. Its cost opec hundreds of millions of dollars. Larry fink that morning saying he thinks gas prices are going to come down 30, 40 cents into years end. Gas prices are based on brent. Brent has come down a lot. I think thats a nice prediction. You need oil to go to 70 if that happens. Is oil possibly going to 70 . I had harold ham on last night, who a ....