TheStreet TV show

TheStreet TV

Summary: Financial news and analysis from TheStreet

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 Midday Report: Ford Cancels $1.6 Billion Mexico Plant; Dow Eases Back From Highs | File Type: | Duration: 01:08

Stocks eased back from session highs, though remained in the green. The Dow Jones Industrial Average's march to 20,000 remained as elusive as ever with the index coming within 60 points of the milestone earlier in the session. U.S. manufacturing activity had a strong end to 2016. The U.S. ISM manufacturing index increased to a two-year high with both production and new orders on the rise. A separate reading from Markit hit a 21-month high. U.S. construction spending also surged at the end of last year. The metric rose by 0.9% in November, hitting a more than 10-year high. Ford announced plans to cancel a new $1.6 billion plant in Mexico. The automaker will instead invest $700 million in Michigan to expand existing facilities.

 Stocks Rally on First Trading Day of 2017 Trump Tweet Slams GM | File Type: | Duration: 01:11

U.S. stocks rallied early Tuesday, on the first trading session of 2017, building on last year's gains. President-elect Donald Trump took to Twitter to slam General Motors for producing its Cruze model in Mexico. Trump reiterated the need for a border tax in order to keep manufacturing in the U.S. General Motors responded saying only its Cruze hatchback vehicle, that is sold overseas, is made in Mexico. U.S.-sold Cruze models are made in Ohio. Last month, Trump tweeted about Boeing and Lockheed Martin . Oil prices rose to an 18-month high as production cuts between OPEC and non-OPEC members took effect. Brent crude eclipsed $58 a barrel. The cuts were agreed to in December. Twitter shares were in focus after its China head Kathy Chen stepped down after only eight months on the job. Twitter is blocked in China. This is the latest executive to leave Twitter. Its chief technology officer and chief operating office departed in late 2016. TheStreet's Scott Gamm reports from Wall Street.

 Midday Report: Consumer Sentiment Reaches 12-Year High; Dow 20,000 Looks Remote | File Type: | Duration: 01:07

Stocks fluctuated in quiet trading ahead of the long Christmas break weekend. Dow 20,000, which looked all but a certainty earlier in the week, has grown more remote since Wednesday. New home sales surged in November in the latest sign of a housing recovery chugging along. Sales of new homes rose by 5.2%, stronger than economists' consensus. Consumer sentiment increased to its best level in 12 years as Americans grew more confident in the strength of the U.S. economy. Consumers were also more positive over President-elect Trump's economic politics. Chinese officials hit GM with a roughly $29 million fine after an investigation into alleged monopolistic pricing activities. GM reportedly colluded with dealers to fix prices for a number of its vehicles, breaking antitrust laws.

 Dow 20,000 Remains Elusive; Deutsche Bank and Credit Suisse Settle With DoJ | File Type: | Duration: 00:51

U.S. stocks moved slightly lower Friday in a quiet trading session, as the Dow Jones Industrial Average's march to 20,000 stalled. Plus, Deutsche Bank agreeing to a $7.2 billion settlement with the Department of Justice in relation to toxic mortgage related securities the bank sold leading up to the financial crisis. The government had initially asked for $14 billion, a number that may have forced the bank to raise fresh capital. Credit Suisse also announcing a $5.3 billion settlement with the Department of Justice stemming from mortgage securities sold prior to the financial crisis. Experts say the settlements mean the banks can move on and put these headwinds behind them.

 Berlin Christmas Market Terror Suspect Killed in Italian Shootout | File Type: | Duration: 01:27

A shootout between Milan police and Berlin terror attack suspect ends in death of Anis Amri. Several news reports quote the Italian Interior Minister who said 'without a shadow of doubt' that police shot and killed the Berlin Christmas market attacker. The truck attack killed 12 people and injured 56. Lockheed Martin ( ) shares are falling as President elect Donald Trump drops a twitter bomb on the defense company. In the tweet, he mulls replacing Lockheed Martin's F-35 with a comparable Boeing ( ) F-18. Trump met this week with the heads of both defense companies about the cost of their programs. Deutsche Bank ( ) has agreed to a $7.2 billion settlement with U.S. regulators. This settlement relates to toxic mortgage backed securities. Credit Suisse has announced a similar deal, while Barclays is now under investigation too.

 Midday Report: Weight Watchers Enjoys Oprah Effect; Dow Retreats From 20,000 Milestone | File Type: | Duration: 01:04

Stocks held lower, putting the Dow Jones Industrial Average further from its elusive 20,000 milestone. Walmart and Visa shares were the biggest drag on the blue-chip index. U.S. consumer spending slowed in November as personal incomes floundered. Both came in below consensus. Energy spending also tempered in November as the price of oil recovered. Weight Watchers got a bump from Oprah Winfrey. Winfrey, who owns a 10% stake, divulged a 40-pound weight loss using the program. Winfrey first announced her stake in October last year. ConAgra increased despite a drop in second-quarter profit and sales. Revenue declined 11% as the company focused on reducing its reliance on discounting. Adjusted earnings came in above estimates.

 Uber Relents in its Battle with California Over Self-driving Cars | File Type: | Duration: 01:19

Uber halts a test program in San Francisco after the state revoked the registration of the vehicles involved. Uber had refused to apply for the $150 permit from the California Department of Motor Vehicles because the company said they weren't required if a human was also in the car. California maintained the tests were illegal. Bed Bath & Beyond (BBBY) posted a profit decline. The retailer says its online sales are growing but not by enough to offset slowing traffic at brick and mortar stores. Sales from digital channels grew over 20%, according to the company. Micron Technology (MU) posted its first revenue rise in 7 quarters. It says a stabilizing PC market boosted chip demand and pricing. Micron gets about 60% of its revenue from DRAM chips. Weekly initial jobless claims are due. Durable Goods order are out as is 3rd quarter Gross Domestic Product.

 Oil Inventories due and Could Help Push Dow Jones Past 20,000 | File Type: | Duration: 01:18

Oil price gains for December are already 10%, which would be the strongest performance in the final months of the year in 6 years. Oil prices are edging higher on an expected decline in U.S. crude oil inventories. A stockpile number could drive energy companies higher and perhaps lead the Dow Jones Industrial Average to cross the 20,000 milestone. Nike's ( ) profit rose on strong sales in the United States and China. The sports apparel retailer also sees basketball demand coming back. The company's revenue was up 6% to a better than expected $8.2 billion in quarter. The Amazon ( ) Echo and Dot are both sold out. The next batch of the larger Echos won't arrive until January. The dot is expected to be back in stock sometime next week. Amazon has offered deep discounts on the devices at a significant discount since late November.

 Closing Bell: Credit Suisse Close to DoJ Settlement; Dow Fails to Capture 20,000 | File Type: | Duration: 01:09

The Dow Jones Industrial Average hovered agonizingly close to its historic 20,000 level, though failed to gather the last bit of momentum to top the milestone. The blue-chip index is roughly 40 points from that level. Carnival reported a better-than-expected fourth quarter, a positive development after a waste-dumping scandal earlier in the month. The cruiseliner reported sales growth of more than 6% over its recent quarter. AMC has settled with the Justice Department, a crucial final hurdle before it could complete its acquisition of Carmike Cinemas . AMC is required to divest from locations in 15 markets before the deal can be finalized. Credit Suisse is reportedly close to settling an investigation into the sale of toxic mortgage securities. The DoJ has requested the bank pay at least $5 billion to settle the charges.

 Midday Report: BlackBerry Shows Surprise Profit; Dow Closes in on 20,000 | File Type: | Duration: 01:11

The Dow Jones Industrial Average closed in on its 20,000 milestone after moving above its all-time closing highs. The blue-chip index previously hit the 19,000 mark just a month ago. BlackBerry led the telecom sector higher after posting surprise quarterly profit, a sign its turnaround plans have begun to gain traction. BlackBerry also upped its earnings outlook for 2017. Darden Restaurants reported a surge in second-quarter profit. Earnings nearly doubled while same-store sales rose 1.7%, 200 basis points above forecasts. Same-store sales at Olive Garden increased just over 2%. Salesforce was initiated with a BUY rating an $100 price target at Drexel Hamilton. Analysts said its move into the cloud would provide attractive growth over the next decade.

 Geopolitical Events Dominate Wall Street's Attention Today | File Type: | Duration: 01:27

Overnight the Bank of Japan held interest rates steady and issued an upbeat view of the global economy. The Central Bank revised up its views on exports and output. There has been a string of positive economic data has bolstered sentiment surrounding the world's third largest economy. German Chancellor Angela Merkel spoke out this morning about the truck attack at a Christmas market in Berlin. She said it would be 'repugnant' if it was carried out by a refugee seeking a safe haven in Germany. German media is quoting security sources who say they believe the suspected driver of the lorry truck which plowed through the market, killing 15 people, is a 23 year old Pakistani asylum seeker. Facebook (FB) messenger now lets you video chat with up to 50 people. For the first 6 participants, the app will stream everyone's camera feed to a grid-like view. After 6, the dominant speaker will show on the screen.

 Stocks Inch Higher Ahead of Yellen Speech; Christine Lagarde Found Guilty in Negligence Case | File Type: | Duration: 01:12

U.S. stocks kicked off a quiet trading week to the upside, as investors awaited remarks from Federal Reserve Chair Janet Yellen. Yellen is speaking at the University of Baltimore. These are her first remarks since announcing a rate hike at last week's Fed meeting. Yellen is expected to discuss the job market in the speech. A French court found International Monetary Fund Managing Director Christine Lagarde guilty in a negligence case, though she won't be receiving a sentence. The accusations came when Lagarde was finance minister in France. Under her tenure, a business tycoon received a 403 million euro payout. Lennar shares rose in premarket trading after reporting earnings of $1.34 a share, topping estimates of $1.28. Revenue gained 15% to $3.38 billion, eclipsing estimates of $3.3 billion. The company's CEO Stuart Miller is optimistic about the potential for stimulus and tax cuts from the incoming Trump administration. TheStreet's Scott Gamm reports from Wall Street.

 Wall Street Looks Higher as it Enters Final Full Trading Week of 2016 | File Type: | Duration: 01:29

Some believe the stock market has moved too far, too fast this year and may not get a so-called Santa Claus rally in the last trading days of 2016. The Dow Jones Industrial has tried and failed in recent sessions to nail the psychologically important 20,000 level. This is the final, full trading week of 2016. Apple ( ) and Ireland are challenging the European Union tax ruling against the tech giant. Ireland says the E.U. overstepped its bounds in levying the tax. Apple says its being penalized due to its success. The E.U. says Apple had received illegal state aid in avoiding paying such taxes in Ireland. Disney's ( ) Star Wars:Rogue One brought in $155 million at the North American box office this weekend, a robust start that guarantees the first Star Wars 'story' will not be the last. The $155 million is the 3rd highest grossing domestic weekend opener of the year, behind Captain America: Civil War and Batman V Superman: Dawn of Justice.

 Closing Bell: Active Oil Rigs Climb Again; Dow Clinches Weekly Gain in Down Day | File Type: | Duration: 01:05

The Dow Jones Industrial Average held slight weekly gains even in a down day for Wall Street. The blue-chip index has increased for six weeks in a row. Benchmark indexes ended the day in the red. The number of active oil rigs in the U.S. climbed for its 15th week in 16, according to the latest Baker Hughes data. The oil rig count increased by 12, a worrying sign as traders contend with global oversupply. Former Viacom chairman Sumner Redstone is stepping down from his voting role on the board, effective in February. Redstone will continue in a nonvoting role. Nintendo sold off even as its smartphone game Super Mario Run rocketed up the download charts. The game was downloaded nearly three million times on its debut day on Thursday.

 Dow 20,000 Remains Elusive but Index on Track for 6th Straight up Week | File Type: | Duration: 01:35

The U.S. dollar is closing in on parity with the Euro. U.S. travelers to Europe may soon be able to exchange dollars for euros on an almost one to one basis, an extraordinary shift from early 2014, when one euro was worth $1.40. Meanwhile, the blue chips are on track for a 6th straight up week but the milestone of Dow 20,000 remains elusive. Facebook ( ) is going to start fact checking, labeling and burying fake news and hoaxes in the newsfeed. The company says it has partnered with a shortlist of media organizations that are part of an international fact-checking network led by Poynter, a nonprofit school for journalism. It will make it easier to report news stories that are fake. Microsoft ( ) is teaming with TomTom to ensure the next generation of cars comes with some quality maps. The deal will see location based services integrated into Microsoft's Azure cloud platform.

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