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s&p. >>> dick's sporting goods announcing layoffs ahead of the quarterly results this morning.ion plans during the earnings call. shares of dick's up 1%. >>> teva and glenmark will pay for criminal charges for price fixing of three drugs. shares of the companies mixed right now in pre-market. >>> charles schwab will cut jobs and close or downsize offices in the effort to save $500 million this year amid pressure over lower net flows of client money and scrutiny after the collapse of svb. >>> here is what to watch. july home sales are out this morning and richamond manufacturing survey. we get results from dick's and lowe's and macy's. we have the best performance in august up 1% for the stocks in the s&p. let's bring in john stoltzfus at omiat oppenheimer. >> good morning. >> s&p price target of 4,900. do you hold on to the price target with rates hitting multi-year highs? >> we do at this point, frank. we can't help but think higher rates right now is the normalization of rates. the fed will probably overshoot in the cycle somewhat. it will likely continue to show sensitivity

dick's sporting goods and macy's dropped. the dow and s&p closed lower.ech heavy nasdaq avoid add drop thanks to gains by netflix and alphabet. >>> it is official, today u.p.s. voted to ratify new contracts with the labor union avoiding a strike that would have been the biggest in 60 years. the deal will give workers a pay raise and creates new full-time jobs to help with staffing. it brings work place improvements including air conditioning for delivery vehicles. martin luther king day will be a holiday for the first time. >>> one of these things is not like the other. an unusual looking animal is turning a lot of heads. we're going to show you next. >>> she's spotless, and that's why a baby giraffe is getting the spotlight tonight this is the giraffe. she's at a zoo in limestone, tennessee. giraffes usually have tan skin with brown spots but this baby is solid brown. zoo keepers believe she's the only spotless giraffe in the world. they say it's a good thing she was born into captivity because they use spots to camouflage in the wild which would have be

shops here in the bay area in today's gma first look, dick's sporting goods and other retailers across the country are seeing a significant drop in profit s due to increasingly serious retail theft. here's abc news reporter rebecca jarvis in this morning's gma first look, the retail theft ripple effect. >> dick's sporting goods blaming an increase in serious theft problem at its stores for a 23% drop in its profits. the retailer joining a growing list of companies including target, home depot, tj maxx and ulta recently sounding the alarm on organized retail crime. >> it's extremely difficult to quantify the degree of the problem because not a lot of information is shared from this flash mob stealing nearly $100,000 worth of items at a california mall earlier this month. >> two big box retailers like home depot getting hit especially hard time and time again, investing hundreds of cases. and losing billions of dollars. so what does this mean for the prices of your favorite product? s it's all coming up at 7:00 with your gma first look. i'm rebecca jarvis, abc news, new york. >> your voice, your votes they eight gop presidential candidates

ball, and it's good, it 's a click, and now you're running the game of dicks, and you're in a tv show, what's necessary, mykola, turn on the hundreds channels in thousands of films and sports, the body loses water and electrolytes as a sports doctor i recommend reo i was dehydrated recovering from reo water for special medical purposes see this week in the judicial control program with tetyana shustrova why the legal higher education institutions have not yet elected their representative in the vrp congresses of scientists almost always took place with scandals and what problems are facing the congress of scientists stated a certain closedness of this process see the program on thursday, august 31 at 5:45 p.m. judicial control with tetyana shustrova on espresso ru tv channel hello, this is freedom, the morning informational project of radio svoboda, top guests every day, this is the shipping district of kherson, inclusion live, we bargain somewhere in the vicinity of bakhmut, we tell the main thing, on weekdays at 9:00 a.m., there is a war going on, and not only on the territory, it is also a war according to umy, russia is throwing millions of petrodollars to turn ukraini

s&p also higher at this hour. one area of concern this morning, that remains retail. with the xrttef coming off its worst day following historic losses at dick's sporting goods and macy's. >>> we're also checking the bond market. right now at 4.2, we've seen the 2-year note. wti right now back below 80 bucks a barrel. brent crude, similar story at 83.60. now let's get a check on this morning's top stories. silvana henao. good morning. >> good morning. ftc is expected to announce a probe of qualcomm. . according to "politico," it's expected to be unveiled as soon as today and follow a similar investigation by european regulators. a autotalks technology also known as vehicle-to-everything communication. u.p.s. workers ratifying a massive new five-year labor deal that include big wage increases and improvements to work schedules. according to the international brotherhood of teamsters, the contract passed with more than an 86%. that's the highest in the company's history. this preliminary deal reached last month to help avoid what could have been a crippling strike to u.p.s. and the entire u.s. economy. >>> goldman sachs is cracking down on so-called summer fridays. accor

s&p up 20 and a half. investors are waiting for another round of earnings today following yesterday's mixed results we heard from macy's, lows, dick's sporting goodss sporting goods falling 24% that was the worst daily performance ever after they came up short on expectation and they pulled back the full-year earnings guidance, it was a rough month. kohl's comes at 7:00 a.m. eastern time and nvidia "after the bell" talk about a big stock to watch, let's bring in wealth management senior vice president had a public markets group lisa erickson. let's move onto nvidia, i know working to get kohl's at seven but nvidia is really going to be a true market mover because of the weight with the s&p, what are you expecting. >> overall we are monitoring the remaining earnings report, if you go back and look at what's happened to date, second-quarter overall has been a nice reprieve from some of the concerns of where we might head because in general most companies have b expectations both in terms of number as well as the actual amount of expectations. so as we look forward, the big question to your point can the momentum continue and some of the concern has

s&p down 6.5. the nasdaq was strong. not so much right now, a quarter of a percent. i guess we'll take it. steph, retail tough -- macy's, dick's sporting goods, ugly. we'll get to it later. banks slammed. we're going to do that later, so let's not do it now. >> okay. >> the ten year -- we can do a little bit of that now, because my big question is the slog in august we've been dealing with, the precursor as we say at the outset, for what's to come. >> seasonally this is not a great time for the markets, august and into september, right? year-to-date gains we've had huge gains. 30% in the nasdaq, 50% in the s&p 500. a bear steepener in the bond market. rates are rising especially on the long end, which i think is surprising a lot of people. we just overall have uncertainty about the fed, certainly with regards to jackson hole on friday. and then, like, september there's no earnings. we're hostage to the macro. so i would not be surprised to see kind of volatility, maybe we see a little bit of a pullback. that's normal. that's fine. i have to point back to the economy, and the economy is hanging in pretty darned well, right? we talked last wee

s&p 500, opened with a gain of one 12:45%. the nasdaq composite has opened higher. show big tech. alphabet 130, merritt 289, amazon down $0.26. more retail earnings out today, dick's sporting-goods their profit drop. stock was down sharply, they warned about theft last quarter. lauren: as for their report card the revenue fell for six rate quarters, another 4%. wise the stock up? their inventory under control which means fewer discounts that burst their profitability. we one footlocker, last time it checked was way down. lauren: they cut their forecast siding week consumer, the back-to-school season included in their quarterly report, they paused their dividend payout. this is a company that is talking about theft causing people to be stealing, shrinking, the industry term for, causing growth margins to fall 460 basis points, the only detail that i saw that they mentioned. footlocker down 35% and dick's sporting-goods in a moment but dick's boarding good story from yesterday can the footlocker story from today, that is your nike story. nike sneakers and clothing are sold at those two stores. it all ties together. that's one of the reasons nike is $13 billion in the past we 10 da

s&p down five points "squawk box" will be right lack. school is back and dick's sporting goodscarhartt, and hoka. and, with even more options at dicks.com, it's never been easier to sport your style. >>> with just over half an hour to the opening bell, futures have turned negative let's talk about why with brenda good morning i'm a little wary of the early gains for a couple of reasons. we talk about longer end bond yields, some of the selling pressure in china. what do you think is going on here >> well, i think we're entering, really, the summer doldrums a little bit i think this is a time when there's not a lot of incremental news, although there are some economic data points coming out, get a little bit of a read on the consumer, retail sales this week, and industrial production, but we have to remember the consumer is spending a lot on services, and a lot of that spending isn't really captured in that retail sales number. >> i was just going to say, i have, like, a, you know, frustration in advance because i'm not sure how much we're going to learn this represents a partic

s. hair, nails, bones, joints, the left knee, the right knee too, every shoulder, the tendon in your elbow, the tendon in... vital proteins: for everybody with a body. school is back and dick's sporting goodsthe store, dicks.com is always an option. and now through august 12th take 20% off select nike styles. with looks this good, it's never been easier to sport your style. ♪ ♪ ♪ ♪ ♪ ♪ ♪ get exclusive offers on select new volvo models. contact your volvo retailer to learn more. >> next wednesday. >> when you say you're going to get married on good morning america. i haven't said it out loud. i'm saying yes to marriage. haven't set a date. >> you're invited to one giant bachelorette party between robin and her fiancee amber right before they say i do. from having first met to right now. >> hi. >> feel the love. oh yeah, party. >> yeah. i can feel it. >> next wednesday only on gma. >> all right, go ahead. >> welcome back. [ laughter ] our dear robin roberts is getting married to sweet amber. we cannot wait to celebrate. and you've got a bachelorette party. is that -- >> that's more nerve-racking than the wedding. [ laughter ] >> i saw that promo just now. could 14-year-old robin roberts have

s&p 500 also down just slightly. and you see a live look at the dow hanging on to that third of a percent, down 113 points there. big news this morning is dick's sporting goods. it's blaming a, quote, serious theft problem for its recent drop in profits. dick's shares plunged. 24% this morning after missing analyst estimates for the first time in three years. and this is the first statement that the athletic goods retailer has made about theft affecting profits. other major retailers, including target, have also complained about losing billions of dollars due to theft. the earnings report says dick's sporting goods executive expect inventory shrink to get worse before it gets better. ikea's new store in downtown san francisco officially opens to the public tomorrow. the store is smaller than most locations. ikea says that is part of its new initiative as it expands across the country. ikea reports demand is increasing for its furniture and household items. and we'll have more on that throughout mornings on two. i'm pam cook. that's a look at your dollars and cents. thank you. time is 850 here. happening today, astronomers are hoping to receive a response to