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way waiting for the tesco bell to open. they indicated down 10% as they warned -- we will make 1.4 billion pounds in 2015. that is below the market estimate. lower and the yen is doing something it has not done for a while, it is strengthening. dollar-yen seems to be in the masquerade of a currency that one would go to in times of a pause in the equity market. i say masquerade because you are seeing everything from easy calling to another big leg in dollar-yen. never has the divergence -- not never, but the diversions has been quite large. nineve you with this, day -- the longest losing streak since 1979 as the national australia bank is his confidence falls and they cut their target. they say in come march and august of 2015. >> i'm looking at the ftse 100 we are down 53 points. we are waiting for the big one to open -- tesco. tesco, profit warning at the british food retailer said this morning the full-year trading profit will not exceed 1.4 billion pounds. fromng me now with more the city of london. we're waiting for a p
way waiting for the tesco bell to open. they indicated down 10% as they warned -- we will make 1.4 billion pounds in 2015. that is below the market estimate. lower and the yen is doing something it has not done for a while, it is strengthening. dollar-yen seems to be in the masquerade of a currency that one would go to in times of a pause in the equity market. i say masquerade because you are seeing everything from easy calling to another big leg in dollar-yen. never has the divergence -- not...
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Dec 9, 2014
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more bleak news from tesco.ve been down as much a 17%. , we will talk about the latest first. what do we understand is the result of the announcement this morning? >> it is down to a change in the buying policy. tesco basically said we are millionng 500 pounds in the second half because we are changing the way we do business with our suppliers. >> is this all of the bad news? >> it is difficult to know exactly. ,n some very rough estimates tesco could make zero profits in the second half in the u.k. obviously, it is starting from go and it is a question of how far back it is going to get. if the 6% operating margin is behind us. where it will end up is difficult to say. >> january will be a critical month for this company. maybe there is potentially a bit more bad news to come. january is when lewis unveils the plan. everybody has got to be waiting for that now. >> the outline of the strategy is to trade on the front margin, to sell things that people want at a good price and then earn a fair margin on that. wha
more bleak news from tesco.ve been down as much a 17%. , we will talk about the latest first. what do we understand is the result of the announcement this morning? >> it is down to a change in the buying policy. tesco basically said we are millionng 500 pounds in the second half because we are changing the way we do business with our suppliers. >> is this all of the bad news? >> it is difficult to know exactly. ,n some very rough estimates tesco could make zero profits in the...
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Dec 9, 2014
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wruns again, tesco is down heavily, 12%. down by as much as 14 many 5% yesterday. >>> another big commodity in focus is oil. the price in oil weighing on support that the fed could signal they're ready to start hiking interest rates in 2015 when they meet next week. the fomc could drop their long-held pledge to keep rates low for some time. some have hinted recently they're looking at shedding the closely watched signal. there could still be debate at the meeting. dennis lockhart said monday he's not in a rush to drop the phrase. so the guessing games continue. let's bring back in kerry craig. my big question is if the fed is perhaps looking to raise rates in 2015, the fed has a dual mandate. it has to see an acceleration in jobs growth. given the tumbling price of oil, that's weighing on headline inflation. how can we even talk about the federationing rates when right now inflation is not at the target that it's looking at? >> monetary policy down the line, that is being very clear. they've been talking about energy prices
wruns again, tesco is down heavily, 12%. down by as much as 14 many 5% yesterday. >>> another big commodity in focus is oil. the price in oil weighing on support that the fed could signal they're ready to start hiking interest rates in 2015 when they meet next week. the fomc could drop their long-held pledge to keep rates low for some time. some have hinted recently they're looking at shedding the closely watched signal. there could still be debate at the meeting. dennis lockhart said...
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Dec 9, 2014
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even warren buffett said in october that investing this tesco was a huge mistake. it lost as much as 17% at one point and simon, as you know, here in the uk, tesco is a household name even in london, it's pretty much on every other corner. >> absolutely huge. i think the second largest retailer in the world alongside walmart. >> third largest, yep. >> thank you very much for that. let's get a market flash. >> so the dow only down about 100 points, but we're watching shares of tata motors. its jaguar land rover unit is recalling more than 7,000 of the jaguar f type sports cars here in the u.s. for possible wiring issues regarding its front passenger air bags. those shares down by about 5%. back to you. >>> east and west coast are preparing for storms that could lead to flash floods in certain areas. for more on that, here is the weather channel's carl parker. >> we're watching stormy weather on both ends of the country. a very strong low is bringing heavy rain and snow to the northeast. let's begin with the satellite picture. and this system will slowly move up acro
even warren buffett said in october that investing this tesco was a huge mistake. it lost as much as 17% at one point and simon, as you know, here in the uk, tesco is a household name even in london, it's pretty much on every other corner. >> absolutely huge. i think the second largest retailer in the world alongside walmart. >> third largest, yep. >> thank you very much for that. let's get a market flash. >> so the dow only down about 100 points, but we're watching...
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Dec 9, 2014
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. >> we have breaking news from tesco. they say the profit will not theed 1.4 billion pounds in time that ends in 2015. it will not exceed that level. they will share details on measures they have taken. the priority is to restore competitiveness and the steps taking is impacting short-term profitability. the early feedback from customers is encouraging and they are focusing on doing the right thing for customers as well -- for customers, as well . the company announced some accounting irregularities that started earlier this year and announced that the irregularities will continue to impact the company in the second half. they did say that they overstated the profit estimate by 200 -- 250 million pounds. that caused investors, including warren buffett to cut. on what happened with tesco going through the terminal. >> let's talk about the markets. there are revised talks on a deal. oil prices have tumbled. let's talk about a potential deal for some assets or the whole company. >> this could make sense. or not. it has been
. >> we have breaking news from tesco. they say the profit will not theed 1.4 billion pounds in time that ends in 2015. it will not exceed that level. they will share details on measures they have taken. the priority is to restore competitiveness and the steps taking is impacting short-term profitability. the early feedback from customers is encouraging and they are focusing on doing the right thing for customers as well -- for customers, as well . the company announced some accounting...
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Dec 27, 2014
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fausaco tehi u b bco edmie h r o seblaghe i -if dt''l bkinses neonisuely sbedf idontetthma u tc to tesco ai bfrrn andsth noleto wfihe f wa ea thes har acallit ilesntclit ipsou sai ndn stasscs, d i, ld g ha td,eyorof g la est waedndn thnmne ti coag t deine twh n aurin vea b yo kpo>>h,yeityfrchmfeenayhe dthr el, co ite frm agh atoni seth h talongn t eran na>>e haelle ais liatiml ge gye - e tmee es. utolynoer tmee 0.sgnu ade ticly be lmfn. ey il oor i wouth tsifen o i bn pry heu'on itasteagne's anggl a rm lalen e ae o kiean w usec it r d wrk st.wh ty buered as thif s idhacly a h tal e itlf tha dtheeof tholth l s idsengin'vhet. ll anck bl pu nck a sior h r yohe overh ernumi flu t ars , rei wacenelln eyef urt ilysnets wtherta t ab mwa re wnetaamy.oci'ere id teiictsr w mllnd etealry s nenarth d hi s onrnt ug tendha as w, he in i tas fme77 a w nche 70me oricroer vun de- loon tit twa estoein bk, t t wisthael aen e de.lsaesusat tase me sgaofenyeramst co loregi healppaelh goan ati' n. t edyhe otaooabeouin ythou c wat o77 aribfiateison thnatry wnty dt t htbamp bec. to theute.al i l. al lslyo alme f
fausaco tehi u b bco edmie h r o seblaghe i -if dt''l bkinses neonisuely sbedf idontetthma u tc to tesco ai bfrrn andsth noleto wfihe f wa ea thes har acallit ilesntclit ipsou sai ndn stasscs, d i, ld g ha td,eyorof g la est waedndn thnmne ti coag t deine twh n aurin vea b yo kpo>>h,yeityfrchmfeenayhe dthr el, co ite frm agh atoni seth h talongn t eran na>>e haelle ais liatiml ge gye - e tmee es. utolynoer tmee 0.sgnu ade ticly be lmfn. ey il oor i wouth tsifen o i bn pry heu'on...
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Dec 11, 2014
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more problems for tesco, the u.k.s getting close to losing its investment grade credit state. it is placed on the negative credit watch. tesco and one of the toughest years in its history and is seeing three profit warning since june. benjamin lusk, a found evidence that barclays and deutsche bank may have used algorithms on their trading flat arms to manipulate foreign exchange rates. that is according to people with knowledge of the investigation. the practice suggests there may be a systemic problem involving automated tools that goes beyond individuals rigging currency markets. both banks and the regulator have declined to comment to bloomberg. the wall street journal is reporting that brazil is indicted at least 12 suspects in the case. the charge stems from allegations that several companies force them to drive up the value of contracts. the company did not respond to the newspaper for request for comment. let's look ahead to 2015 and how equities in europe and the u.s. might shape up. our next guest has changed
more problems for tesco, the u.k.s getting close to losing its investment grade credit state. it is placed on the negative credit watch. tesco and one of the toughest years in its history and is seeing three profit warning since june. benjamin lusk, a found evidence that barclays and deutsche bank may have used algorithms on their trading flat arms to manipulate foreign exchange rates. that is according to people with knowledge of the investigation. the practice suggests there may be a systemic...
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Dec 9, 2014
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profits will plunge of the british grocery chain tesco.res fell to the lowest level in almost 15 years. tesco is trying to turn around its business after disclosing that profits were overstated. one of the worst investments for warren buffett over the last several years bmw production chief of take over next year. he will succeed norbert right offer. he has let bmw to record sales and earnings since becoming ceo in 2007. amazon is trying to avoid the grinch that almost stole christmas last year. remember that? it is taking more control of its by doing workm that was previously done by ups and fedex. last year the rush prevented some customers from getting their packet is a time and they faulted ups for that. bloomberg television is on the markets. equity futures are the were following the extended drop we in asia, ledrnight by chinese shares on the plunge in shanghai. that flowed into europe, which fell over 1.5% at many of the major indexes. as we get into the opening bell in about an hour. we are "on the markets" again in 30 minutes. if
profits will plunge of the british grocery chain tesco.res fell to the lowest level in almost 15 years. tesco is trying to turn around its business after disclosing that profits were overstated. one of the worst investments for warren buffett over the last several years bmw production chief of take over next year. he will succeed norbert right offer. he has let bmw to record sales and earnings since becoming ceo in 2007. amazon is trying to avoid the grinch that almost stole christmas last...
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Dec 2, 2014
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tesco is trying to recover from fallout of its overstated earnings estimates in september.d to a probe of the country -- company by the u.k. fraud office. ceo william lewis will head up the british unit on an interim basis. >> let's turn our attention to the year ahead, the global economy will rises steadily. smilesoined by simon will be a wealth management chief investment officer, the ultra high net individual. the 2015 outlook, that is a very long title. >> is a good thing or bad? >> it is a good thing. at the verging world that investors currently facing to be a theme. >> i'm very cognizant that i'm following up professional models. >> rise to the challenge. 2015 these to diversions is will become more apparent while headline growth we anticipate 3.3 to 3.5% and the growth in polls will be very skewed. we think it will contribute to two thirds of the additional growth. secondly central-bank policy is clearly diversions. we expect the bank of england and the fed to put up interest rates this year and convert to the ecb and bank of japan far from doing that. if we see the
tesco is trying to recover from fallout of its overstated earnings estimates in september.d to a probe of the country -- company by the u.k. fraud office. ceo william lewis will head up the british unit on an interim basis. >> let's turn our attention to the year ahead, the global economy will rises steadily. smilesoined by simon will be a wealth management chief investment officer, the ultra high net individual. the 2015 outlook, that is a very long title. >> is a good thing or...
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Dec 23, 2014
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they selected tesco from the and facerocers here reduced orders previously expected.are a little bit worried about the warehousing difficulties. if you are cheer thorton. >> thank you. >> let me run you through. >> it seems like a distant memory. time the s&p0th 500 has. for the the outlook annual decline since 2008. the prime minister will make a second attempt for the choice of presidents. and if they fail again, there will be a third round. we saw uncertainty ripping and stocks drop the most since 1987. with the u.k..es what does it mean for the currency markets? let's ask the senior economist and strategist. good morning. risk is there for the euro-dollar? >> not that much. is focused on what is happening and that is where it comes in. dynamic within was announced. we can see the dissension between the northern countries and central banks. >> could the greek story upset that? his basis makes up the entity. could it muddy the waters? it is an anti-euro party elected next year and that is some of the risk. >> one final thought on greece. promised in the past. d thin
they selected tesco from the and facerocers here reduced orders previously expected.are a little bit worried about the warehousing difficulties. if you are cheer thorton. >> thank you. >> let me run you through. >> it seems like a distant memory. time the s&p0th 500 has. for the the outlook annual decline since 2008. the prime minister will make a second attempt for the choice of presidents. and if they fail again, there will be a third round. we saw uncertainty ripping...
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Dec 22, 2014
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whether it is tesco or sings people they want to help feel more festive earlier on and use their products able to do so. >> there is a man with no greater presence on youtube pie. pewdie he is swedish. i saw my first ever video. i'm going to give him another go. game. him playing a shrek it is incredible how many subscribers this guy has. pie has more than 32 million subscribers. that is another category that pops at christmas. andfight between xbox playstation is played out on the store shelves, but also in the games people choose to play. that is driven by people like pie who influence these young children and adults. when he is playing the games that you might not play, you might not understand it. e hase love what pewdie pi to say. it is very credible, very authentic. >> it is quite naughty, not something for my three-year-old son to watch. shreke was saying about or the chicken schreck was running after. we don't have to go there here. it was a bit risque. >> that is keeping people's attention, making it fun. one of the things you are seeing is the way these stars are turning to put
whether it is tesco or sings people they want to help feel more festive earlier on and use their products able to do so. >> there is a man with no greater presence on youtube pie. pewdie he is swedish. i saw my first ever video. i'm going to give him another go. game. him playing a shrek it is incredible how many subscribers this guy has. pie has more than 32 million subscribers. that is another category that pops at christmas. andfight between xbox playstation is played out on the store...
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Dec 30, 2014
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tesco is up about 0.5% on the news. let's take a look at bonds. the german yield, we saw significant safety buying, down to record lows of 0.55%. similar moves in the u.s. less of an expense, but we did see yield compression from around about 2.4% at the start of the day to 2.9%. moving in the opposite direction was the greek ten-year. up to 9.5% at the moment. it was as high as 9.8% at times yesterday. whereas the greek equity market recovered some of its ground yesterday, the ten-year greek yields did not. the yield turf is inversive in greece because of the default in the debt. >>> the euro if you want to have a gauge of whether this is going to have a serious contagion effect, it did bounce off yesterday. it bounced back today. that's highlighting that people aren't too concerned across europe at the moment at least. 1.2171. it is at a 28-month low. maybe that is the reason it didn't sell off any more than it did yesterday. up 1%. just below the 1.20 handle. that means the nikkei ended its trade for the year on a negative note. this morning, t
tesco is up about 0.5% on the news. let's take a look at bonds. the german yield, we saw significant safety buying, down to record lows of 0.55%. similar moves in the u.s. less of an expense, but we did see yield compression from around about 2.4% at the start of the day to 2.9%. moving in the opposite direction was the greek ten-year. up to 9.5% at the moment. it was as high as 9.8% at times yesterday. whereas the greek equity market recovered some of its ground yesterday, the ten-year greek...
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Dec 9, 2014
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and this is tesco.hey have now issued fourth profit warning within the last six months and the analysts. you sea the rest of the sector in negative territory. the big question is whether there is any operating margin. so bitter has the price war been. >> simon, busy day in europe and we are off the lows as we sometimes like to say here. down 157 on the dow. when we come back we'll talk about footbainancials getting h hard. the ceo of sun trust, one of the country's largest regional banks sitting down with kayla tausche in a minute. there's a difference when you trade with fidelity. one you won't find anywhere else. one-second trade execution. guaranteed. did you see it? in one second, he made a trade, we looked for the best price, and the trade went through. do the other guys guarantee that? didn't think so. open an account and find more of the expertise you need to be a better investor. the conference call. the ultimate arena for business. hour after hour of diving deep, touching base, and putting duck
and this is tesco.hey have now issued fourth profit warning within the last six months and the analysts. you sea the rest of the sector in negative territory. the big question is whether there is any operating margin. so bitter has the price war been. >> simon, busy day in europe and we are off the lows as we sometimes like to say here. down 157 on the dow. when we come back we'll talk about footbainancials getting h hard. the ceo of sun trust, one of the country's largest regional banks...
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Dec 21, 2014
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tesco i think the university of chicago which has a great reputation for intense intellectualism.i think of the university of chicago seems to be departing from its mission. i don't know if you want to get into this. >> host: my old alma mater. >> guest: you should be concerned about this and i care about this from other places. brown is most like a liberal arts college i hear they're there there's an institutional convergence, there's an institutional homogenization by u.s. news and practical factors where more and more colleges are looking more and more like each other. and they are converging on that. research university model and they were sense where humanities have shrunk until it's small enough to drown in the bathtub because sciences bring you the money or supposedly bring you the money. >> host: chicago i went for graduate school and at that time it was two-thirds graduate and wondered undergraduates at the high-powered research institution. it puts maurice's -- resources into a public but you better be singly focused when you go there on what you might be doing. >> guest
tesco i think the university of chicago which has a great reputation for intense intellectualism.i think of the university of chicago seems to be departing from its mission. i don't know if you want to get into this. >> host: my old alma mater. >> guest: you should be concerned about this and i care about this from other places. brown is most like a liberal arts college i hear they're there there's an institutional convergence, there's an institutional homogenization by u.s. news...
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Dec 29, 2014
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joining us is the chief market strategist at tesco partners as we go into next year given that quantitativended, surely one of the two markets is due a big correction. >> well, you're absolutely right. one of the things i'm looking for going into the new year is which side of 250 is the u.s. ten-year going to decide to be at for the majority of the year. and i think that move is going to come in the first year if it will be the down side of 250. in other words, the higher side of 250 is what i meant to say. i think that has to move in the first quarter, and that's a large move from 2.23% now. you'll start to see the move in the beginning of the first quarter and see it continue as we see things develop with the greek elections and how that affects quantitative easing potential in europe. >> and bob, what is driving u.s. equities at the moment? the strong fundamentals we see relative to the rest of the world or that they are the pick of the relatively dodgey bunch? >> i think it's the latter and i think a lot of it has to do with share purchases. there are good sales numbers that come across
joining us is the chief market strategist at tesco partners as we go into next year given that quantitativended, surely one of the two markets is due a big correction. >> well, you're absolutely right. one of the things i'm looking for going into the new year is which side of 250 is the u.s. ten-year going to decide to be at for the majority of the year. and i think that move is going to come in the first year if it will be the down side of 250. in other words, the higher side of 250 is...
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Dec 10, 2014
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. >> do you do that when you go into tesco? >> ten pounds for milk? are you kidding me? >> whole foods, by the way, very expensive here in london. >>> coming up after the break on "worldwide exchange," telecoms warn the fourth quarter profits could get hit as they feel the pressure of heavy promotions. we'll discuss that after the break. >>> mixed days for u.s. stocks. the telecom sector, the weakest in the s&p 500. verizon the biggest laggard after warning that promotional offers will hit fourth quarter profits. at&t, century link and windextrewin windstream. so a tough day for telecom stocks, wilfred. >> absolutely. they're wanting the rules on net neutrality to be relaxed, but so far, not likely that's going to happen. >>> uber may be a fast growing company with an estimated valuation of $40 billion. but the ride sharing app's list of woes is start to go mount around the globe. let's get out to landon at cnbc hq with more. >> prosecutors in los angeles and san francisco have filed a consumer protection lawsuit against uber. it alleged the ride shares service is mislea
. >> do you do that when you go into tesco? >> ten pounds for milk? are you kidding me? >> whole foods, by the way, very expensive here in london. >>> coming up after the break on "worldwide exchange," telecoms warn the fourth quarter profits could get hit as they feel the pressure of heavy promotions. we'll discuss that after the break. >>> mixed days for u.s. stocks. the telecom sector, the weakest in the s&p 500. verizon the biggest laggard...
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Dec 8, 2014
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joining me is bob uchino, chief market strategist at tesco partners. a lot of focus on the dow within nine points of breaking 18,000 on friday. but failing to break the benchmark. will we see the dow break 18,000 this week? >> good morning, seema. i think you will. it's more of a psychological level. i always kind smirk at the numbers because really 18,000 to me is just one more than 17,999 and one less than 18,001. it doesn't have a lot of significance other than psychological. we continue to see record highs. i'm not sure why 17,999 is not the same sort of significance as 18,000 as a record high. i do think that you'll see it and the market will blow through it and settle below it. oil will be sort of the economic data for the next week or two to see where it settles in. and we're getting to the point where oil is going to bottom and possibly pop up a little bit and come out of the headlines. >> the second half of october and november we had a strong rally as we know in u.s. markets. i can get that. that was a bounce back and coming after we got thro
joining me is bob uchino, chief market strategist at tesco partners. a lot of focus on the dow within nine points of breaking 18,000 on friday. but failing to break the benchmark. will we see the dow break 18,000 this week? >> good morning, seema. i think you will. it's more of a psychological level. i always kind smirk at the numbers because really 18,000 to me is just one more than 17,999 and one less than 18,001. it doesn't have a lot of significance other than psychological. we...
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uk giant tesco is getting hammered, down about 15% on a profit warning. this joufr seas action comes after the dow and the s&p 500 posted their biggest drop since late october. commodities and tech stocks weighing on the markets. crude oil dropping more than 4%. check this out, it's up slightly at this point. it closed yesterday at 63.05 wti. still sitting below $64 a barrel at $63.65. brent sitting at $66.63. we've been watching all of in this morning. as you check this out, take a look at the futures this morning. not much to key off of in terms of positive news. s&p futures off by 6 and the nasdaq down by 14. a huge part of that has to be the lead story in the "wall street journal" saying the fed is now signaling it's going to shift on lower rates, actually raising rates in the next year. that takes away what some people had been anticipating, thinking that these low oil prices will take pressure off the fed. >> job number changed everything in people's minds. you get a series of in the 2s so we say we don't know if we're in the 2s, so then you underst
uk giant tesco is getting hammered, down about 15% on a profit warning. this joufr seas action comes after the dow and the s&p 500 posted their biggest drop since late october. commodities and tech stocks weighing on the markets. crude oil dropping more than 4%. check this out, it's up slightly at this point. it closed yesterday at 63.05 wti. still sitting below $64 a barrel at $63.65. brent sitting at $66.63. we've been watching all of in this morning. as you check this out, take a look at...