A roadmap continues with the retail wreck continuing, gap, foot locker and ross stores all on the move after earnings. And more on the latest on the disappearance of egyptair flight. First up, stocks are poised to open higher a day after the s p touched a twomonth low on concerns the fed might hike rates next month, or in july. The dow and the s p on track for its fourth consecutive weekly loss, thats the first such streak since october of 14. The nasdaq on pace for its first fiveweek streak in the red since 2012. Yeah. Interesting to put in perspective the month weve had. Money pouring out of the market worse actually, these guys talking on squawk box worse than 2008 and 2009. People concerned its not just one hike, its multiple hikes. I dont know how that conversation comes back on. Thats scaring people. Earnings just soso. Geez, its just kind of a subpar picture, i think. Really . Even with the economy essentially the fed saying its essentially Strong Enough to handle this. Why is t
Action altogether. It is unusually low today as ifestors wait for the fed you need sectors on the move, there is a little bit or movement here today. Energy shares were the worst performing group, and now financials and energy, were seeing a drag on major averages. Of course, as we have been watching this, that means we are toting closer and closer unchanged for the year. I just wanted to mention what we are in commodities today as well. Oil and gold, which we have lowerng, crude oil after a wrongful not freeze rampstion until after it up production. David a big week for Central Banks. I wonder where the fixed income markets are in all i wil in light of that. Julie we have a yield of 1. 95 . It is going lower to be sure, but it is getting closer closer to the 2 threshold and it reflects some increasing use that the fed will raise Interest Rates, maybe even twice this year. If you take a look at w. A. R. P on the bloomberg, that factors in interestrate futures. More than 50 probability
Drag draghis press conference begins. Stocks set to open in the green this morning after jobless claims fell by 15,000 ahead of tomorrows big job number. Plus, macys says it will layoff 2,500 workers and close 5 stores in a move that could save the company up to 100 million a year. Shares are up this morning on that news. While macys in the green, its been a rough morning for some of the other retail names, Family Dollar, Bed Bath Beyond expected to open well to the downside after Third Quarter earnings miss. While tmobile is still only the fourth largest carrier in the u. S. , its ceo making a splash at this years consumer electronic show and well tell you what he had to say about tmobiles Fourth Quarter and an incident at a party for at t. A lot for wall street to digest with new labor on the data front setting the stage for tomorrows big job numbers. Jobless claims by 15,000 to a seasonally adjusted 330,000. And the bank of england and the European Central Bank Standing pat on key I
Nexus Select CITYWALK is delighted to conclude the City Literature Fest, a four-day literary extravaganza that took place from September 29th to October 2nd. This event, eagerly awaited by book lovers and creative enthusiasts, brought words, stories,