Climbing 8. 86 how do we interpret the market is the market heartless in response to the plea of the protesters is the Market Making judgments about the difference between violent protest and passive resistance i know many people wish it would. They want the market to be part of the debate. They want it to play a constructive role in the dialogue over racial ee qualiqur go down to express empathy for the troubled times were living through. Thats not how it works. The truth is the markets blind because it has no eyes its deaf because it has no ears its a convenient abstraction, not a personal opinion investors make judgments until recently nobody was investing with an eye toward making the world a better place whatever that might be now there is a Younger Generation of investors with hearts in their heads. I share the sentiment. For the most part people pick stocks because theyre trying to make money we buy stocks at companies, Good Companies with good longterm prospects. Mainly ones th
Another 1 in europe, the impact of the euro, now it is 1. 20 yeah. Most of it happened friday i cant say it was that much of a move, felt like the cap stone of a huge move it was almost a parody earlier this year. Now at a buck 20 theres the euro, 1. 193 it was 1. 17 and change, just under 1. 18, then went up to 1. 20, led by a pound at some point, and all based on comments from jackson hole. Doesnt say things are awful, i guess the implication, take it another 10 higher. She didnt say things were great. People know all right. Well get to texas in a minute first, an important corporate story to tell you about after a bizarre ceo search, wasnt it . Finally chosen, uber has, expedia Ceo Dara Khosrowshahi to be the next chief executive, he has been with expedia since 2005, credited with expanding the global presence. He immigrated to the United States from iran in the late 70s. He says he was the truth pick for uber he has been very inquisitive, visionary, i guess barry diller met him whe
Yesterday stocks were down for the third time in four sessions. Not far off the session lows. That was just a decline of 85 points for the dow. A loss of ten points for the s p 500 and a loss of 11 points for the nasdaq. Check out what happened overnight in asia. The nikkei was up by a half percent. Mainland china markets closed for that weeklong celebration that they do. In europe, in the early trade, at this point theyre under a bit of pressure. Biggest decline coming in france with the cac down by 0. 8 . Ftse off by a half percent. The ftse has been the big story. Ftse up yesterday. The british pound falling to the lowest several since 1985. Well talk more about that in a moment. Look at crude oil prices. Cried down yesterday in the regular session. It did pick up some ground in the evening session after we saw a surprise draw down in api inventories. 50, right within spitting distance. 49. 44 for wti. Among the top stories, becky is still here. Yes. Im still here. Its interesting a
Shares of nordstrom down about 15 in the premarket, penne yerkss taking a hit. Well break down whats really happening in the sector. Donald trump launching another attack on amazon and jeff bezos. Trump saying when it comes to taxes, amazon is, quote, getting away with murder. Apple ceo tim cook told cnbc hes very optimistic about china and putting his money where his mouth is in a big way. Well look at the Chinese Company apple just invested 1 billion in. But first up, Government Data shows retail sales up 1. 3, surge led by autos, gasoline and Online Retail. But theres more Department Store pain on the earnings front. Both penney and nordstrom tumbling. At least eight firms cutting their price targets on nordstrom, which misses by a large margin 26 versus 45. Revenue was light. Comps down 1. 7, but the lesson here is that even retailers of that income demographic are not immune. Everybody at the mall was out of position, no way to put it otherwise. If you think of the three drivers o
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