TheStreet Live

TheStreet Live

By JIm Cramer and TheStreet StaffBusiness
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TheStreet Live episodes

  • Boeing Flies Dow to Another Record Close, S&P 500 and Nasdaq Miss Out
    The Dow Jones Industrial Average marked a third straight record close, again with just small gains. The S&P 500 and Nasdaq weren't as lucky, holding in the red until close and snapping their own record-breaking streak. Boeing Co. ended at an all-time high as its shares rose for a second day in a row. The aerospace company got a lift after a pleasingly upbeat outlook a day earlier in which the company said it would increase production of its 787 Dreamliner to 14 a month by 2019. A surge in crude oil drove energy stocks higher for their second straight day. West Texas Intermediate traded above $50 a barrel on Thursday for the first time in more than one month. Morgan Stanley is bullish on Whole Foods Market Inc. after being bought out by Amazon.com Inc. . The firm forecasts that the supermarket chain can more than double its number of customers by 2020. Watch More with TheStreet: How to Make Your Portfolio Rise This Fall: September Trading Strategies Jim Cramer Reveals What to Watch in Oracle's Earnings 'Pharma Bro' Martin Shkreli Jailed Over Facebook Post about Hillary Clinton Kiss King Gene Simmons Unleashes His Next Major Stock Market Prediction
    2 min
  • Crude Stockpiles Spike in Fallout From Harvey While U.S. Stocks Fluctuate
    Stocks fluctuated around the flatline mid-week with few catalysts to drive a recent rally into day three. The S&P 500 had closed the past two sessions at record highs. Nordstrom Inc. shares rallied following a report that the company's family members and executives were nearing an agreement with a private-equity firm for a buyout. The department store chain had said earlier in the year that it was looking to go private. Crude oil stockpiles showed another big spike in the past week as Hurricane Harvey crippled refinery production in the Texas and Louisiana region. U.S. supplies increased by nearly 6 million barrels in the past week. House Speaker Paul Ryan said an outline of the Republicans' tax plan will be made public on September 25. The Trump White House has talked up its plan in recent weeks but details have been scant.
    2 min
  • McDonald's Takes Bite Out of Dow, but Nasdaq and S&P 500 at Records
    The S&P 500 and Nasdaq both ended at records as the promise of tax reform from the White House fueled gains across major banks. Tech fluctuated after Apple Inc. unveiled three new models of smartphone and a new version of its Apple Watch. McDonald's Corp. took a bite out of the Dow Jones Industrial Average after data tracking company M Science published a bearish report calling into question strength in comparable-store sales in its current quarter. It's the company's worst one-day drop since July 2016. Amazon.com Inc.'s efforts to slash prices at Whole Foods Market has generated a 25% increase in traffic. Amazon completed its purchase of the supermarket chain last month. Perrigo Co. climbed after Starboard Value Jeff Smith pinpointed the drugmaker as a solid buy, noting that it trades at a steep discount to its peers. Smith's activist fund had secured five director seats on Perrigo's board earlier in the year.
    2 min
  • Tech in Wait-and-See Mode Ahead of Apple Event, Financials Rise on Tax Talk
    Stocks edged higher in cautious gains after Monday's rally pulled the Dow Jones Industrial Average and S&P 500 to their best gains in six months. Financials rose after the Trump White House talked up tax reform before year's end. Tech was in wait-and-see mode ahead of an early afternoon Apple Inc. AAPL event. Apple is expected to unveil three new smartphone models. Tech names such as Nvidia Corp. and Broadcom Ltd. moved lower. MGM Resorts International declined after announcing plans to repurchase 10 million shares from its largest shareholder Tracinda. MGM will pay just 1% less than its per-share Monday close. Alexion Pharmaceuticals Inc. was active after announcing plans to cut one-fifth of its global workforce and move its headquarters from Connecticut to Boston. Restructuring efforts should provide savings of around $250 million in adjusted profit by 2019.
    2 min
  • Global Stock Markets Follow Wall Street Higher After Record Day
    Insurance companies did especially well on Wall Street Monday after taking a beating last week. Stocks in Europe and Asia are higher with the Nikkei in Japan adding more than 1%. The S & P 500 closed at a record high after Hurricane Irma did less damage in Florida than feared. Today is a big day for Apple . It's expected to unveil its new iPhone and other products in California. The new X iPhone is supposedly the biggest upgrade in a decade and reportedly will cost $1000. It's also expected to be in short supply, at least at first. The Apple event kicks off at 10 a.m. Pacific time and Apple will provide a live stream of the event. Dow and DuPont are changing the plans of their breakup. The two companies just finalized their merger less than 2 weeks ago. The Wall Street Journal reports the combined company had long planned to split into separate companies in the next 18 months but says after a 5 month review, it will move businesses with more than $8 billion in annual revenue from the materials spinoff into the specialty chemical business. Watch More with TheStreet: Jim Cramer Reveals One Piece of Advice Ahead of Tuesday's Apple Event This Is the One Factor That Could Tank the Stock Market This Year Forget Bitcoin: Check Out 5 of the Weirdest Cryptocurrencies Shark Tank Star Kevin O'Leary Is Trying to Solve America's Retirement Crisis
    2 min
  • Midday Report: Stocks Moving Higher as Weaker Irma Shores Up Optimism
    All three major indexes notched healthy gains Monday as concerns over Hurricane Irma and North Korea abated some. Dow components Apple and Goldman Sachs drove the index back above 22,000 early Monday. The Dow was up 1%. The S&P 500 gained 0.8%. And the Nasdaq pushed higher 0.9%. Hurricane Irma was downgraded to a Tropical Storm early Monday as damages in Florida weren't quite as bad as anticipated. Maximum sustained wind speeds fell to about 65 miles per hour as Irma moved along the Florida coastline. Gusting wind and storm surge remain extremely dangerous, but the tropical storm will likely become a depression tomorrow. Investors became more confident as the storm's damages look to take a smaller toll than first predicted. Stocks rose, while safe haven assets including gold fell. Tesla stock revved up over 4% Monday after the electric carmaker extended the battery life of certain models for drivers in Florida so they could evacuate from Hurricane Irma. Tesla performed an automatic update on vehicles that unlocked the full battery capacity. The update allowed for an extra 30 to 40 miles of driving. Tesla confirmed the change after a Model S driver contacted the company saying he would need around another 30 miles of range to evacuate in traffic. And Teva stock jumped around 20% in Monday trading after the company announced a new CEO. The world's largest generic drug maker will now run under Kare Schultz. Teva's CEO hunt has lasted for more than seven months, during which Teva's stock plummeted close to 50%. Watch More with TheStreet: Exclusive: Carly Fiorina on Not Running for Senate and DC's Lack of Leadership Hurricane Irma and The Waffle House Index: What You Need to Know
    2 min
  • Hurricane Irma now Category 4, Still Headed for Florida
    The last flights out of South Florida will go out tonight. However, many planes are sold out and more than 2000 flights to and from Florida have been canceled. Hurricane Irma was downgraded to a category 4 storm overnight but its wind speeds are only a few miles per hour less than a category 5. The storm is still on course for South Florida Saturday night. Many industries are affected by Irma, including health care. The hospitals with the most Florida exposure are Tenet Healthcare , Envision , Surgery Partners , HCA and Community Health Systems . Meanwhile, Mexico was hit with a massive earthquake overnight. The Pacific Coast was hit with a 8.1 magnitude quake. It's triggered a tsunami warning in Mexico and Central America. Shares of Equifax are lower as it revealed that it suffered a cybersecurity hack that potentially involved the private information of 143 million Americans. It happened in May through July of this year.
    2 min
  • Shaky Day for Wall Street Ends Mixed With Hurricane Irma on Horizon
    A shaky day for Wall Street ended with mixed results for benchmark indexes. The approach of Hurricane Irma has left investors nervous in recent days, while an agreement to raise the debt ceiling has given some bulls reason to buy. Walt Disney Co. contributed a large chunk of the Dow's losses after CEO Bob Iger warned that profit growth was unlikely this year. Disney's profit warning set off losses among broadcasters and other media stocks. General Electric Co. declined after analysts at JPMorgan maintained their underweight rating and $22 price target. The firm warned that the company's outlook is even worse than previously thought. Apple Inc.'s upcoming iPhone 8 is reportedly facing production problems. Sources told the Wall Street Journal that manufacturing issues had delayed the rollout timeline by around a month. Watch More with TheStreet: Hurricane Irma's Devastation Captured on Social Media Watch: What's on the Menu at Fatburger? Airline Ticket Prices React to Hurricane Irma's Approach 5 Official Twitter Accounts to Follow for Hurricane Irma Updates
    2 min
  • Debt Ceiling Progress Shores Up Market Gains, But Hurricane Irma Spoils Big Rally
    Bipartisan progress on the debt ceiling shored up market gains after a shaky morning, though the approaching Hurricane Irma kept a cap on a rally. Earlier, President Trump agreed with Democrats to raise the debt ceiling to December. Consumer spending grew in the majority of the 12 Fed districts, while employment growth slowed, according to the central bank's latest Beige Book. The Fed also said it was "too soon" to gauge the impact of Hurricane Harvey on the economy. Newell Brands Inc. cut profit forecasts as it accounts for the effect of Harvey on its resin supplier facilities in Texas and Louisiana. Many of its facilities have declared force majeure. United Continental Holdings Inc. is also assessing how Harvey has impacted operations. The airline reduced a key revenue metric in the wake of the hurricane and as fuel expenses climb. United expects passenger revenue per available seat mile to decline by as much as 5%.
    1 min
  • Hurricane Irma and North Korea Paralyze Wall Street, While Fed's Fischer Resigns
    Wall Street held mixed mid-week after a short-lived rebound earlier in the day. North Korea tensions and the approaching Hurricane Irma kept trading nervous. Markets endured a big selloff yesterday. Federal Reserve Vice Chair Stanley Fischer has announced his retirement, effective mid-October. He cited personal reasons. His term was set to expire next June. Services activity in August rose, though at a weaker pace than expected. However, the measure remained above 50, a level indicative of expansion, for its 92nd straight month. Business activity, new orders, and employment each increased. CSX Corp. lowered its full-year profit guidance range following "operating challenges" in July and August. The railroad operator anticipates full-year earnings growth of 20% to 25%, compared to a previous target at the top-end of that range.
    2 min

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