to catch amazon. it's a money issue nordstrom has not been able to. it's a tech issue. you have to use salesforce because of the cloud that they have that's analytical. they tell you. >> we talk about artificial intelligence, there's different types of it being used in different areas. you're talking about something -- that's not watson. not what ibm is using -- >> no. >> you're talking about incoming -- increasingly the ability to decipher massive amounts of data and come to conclusions more quickly and more data, more advanced. >> right. so i mean, if you're a retailer you can't compete with amazon because amazon knows ahead what you want. well, guess what? salesforce and einstein they too know what you want. so you can imagine you're duking it out with amazon. you basically have now have the same opportunities as amazon because you have hired salesforce. that's going to be -- that's the chief reason why they blew away the numbers other than the tail wind of the dollar. >> right. and it's a good time to be in ai, ai researcher/data scientist. >> yeah. don't forget, when you order

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nordstrom dropped 17%. the brokerage firm credit suisse predicts 8,600 brick and mortar stores would close. that would be a record. mellody hobson is here. good morning. >> good morning. >> so glad i've been wanting talk with you. macy's says it will close more than 100 stores. what does this signal? >> it's a bloodbath. normally i use moderated words. >> bloodbath is not a moderating word. >> when you think about the fact we've been in an economic expansion, wages are up, prioil low, this should be manna from heaven for retail and it's not. >> what's the problem? >> amazon? >> no, it's not just amazon. amazon gets a lot of the reputation but when you think of it, they're representing 45% of sales. everything we beer, nearly half is being bought through amazon. however, 85% of retail sales are still occurring in stores. most of us are walking into a store to buy things. part of the fact that malls were overbuilt. from 1970 to 2017 malls were built at twice the rate of u.s. population growth. >> i like going to the mall. i think we need to let that go. but there are some retailers doi

this spring, attempting to push very unusual trends. last week the internet pounced on nordstrom for selling these jeans that conveniently came precoated in their own mud this week neiman-marcus upping the game with their future destroyed high top sneaker. here they are. just over $1400. they'll save you the trouble of breaking in and tearing up your own sneakers. they already come with, quote, heavy distressing, that means including missing chunks of leather, a rip, aldo that for you for $600. i'll come to your house. >> what did those shoes go through? >> high tech distressing. i believe it, though, because you buy holes in your jeans. >>> we've seen prom proposals galore. so our producers dug up gems from our high school past. i'll get mine over with. >> i want to see this. >> this was a bridesmaid's dress because i didn't know to go to macy's like everybody else. >> you wore a bridesmaid's dress. >> that's me. >> i still don't believe that's you. >> look a doesn't that look like craig? >> it does. >> that does not look like craig melvin. let's see dylan dreyer's. >> you were in a

fox, whole foods, thursday, macy's and nordstrom, friday, jcpenney. meantime back to becky quick who is in omaha with our special guest. becky. >> andrew, thank you very much. we're live with warren buffett after speaking to shareholders here who made it to omaha, about 40,000 or so. joe just mentioned ted top, the markets are probably not that surprised with the result of the french election. macron winning and le pen going ahead sand admitting defeat. when did you find out about the french election. when did you hear about lin pe conceding? >> when did i hear about le pen conceding? >> i went to bed early. >> it wasn't something you were waiting around on? >> no, not really. i can't think of what i really have done much about purchases or sales in connection with any election. i mean, every time -- when i was a kid, every time a democrat got elected, there was a wake in our house. and my father would start storing suggestore ing sugar or something like that. so, i learned not to put too much weight in any given election. >> so, this is not something -- if things had gone the other

, kohl's and nordstrom all report earnings. now, all three companies are struggling with falling sales amid growing competition and have resorted to cutting costs by closing stores and selling or leasing their real estate, and keeping inventory levels low. macy's and kohl's are already predicting that sales will fall this year, while nordstrom believes that sales will be flat. also happening on thursday, wells fargo usually holds its investor day every other year. but it is holding one for the second year in a row. it's trying to restore shareholder confidence, following its recent accounts scandal. the bank will provide new cost—cutting targets and leaders of the lender's major business units will discuss their outlook. joining us is lawrence gosling, editor—in—chief of investment week. quite a quitea uk quite a uk focus we have got going today. let's start with the bank of england. we are getting a regular inflation reports, a lot of reports on whether there is any hint of an interest rate rise. as ben was saying earlier, virtually no expectation we will get an interest rate rise. i

have more grim news from nordstrom and j.c. penney today. shares continue to slide. malls are not seeing people coming through and more people get used to online shopping. it's a big problem for not only malls but brick and mortar. consumer prices rose higher than april up by 2.2% over the past year. higher gas prices the big reason for that. it's also a range that the fed would raise rates again at its june meeting. stock market is lower. down about 40 points. nasdaq down 3. stock lost 20% yesterday and has 1% back in the early going today. >>> we know the court case for uber will be public. a federal judge denied the company's request to move the case into private arbitration. the judge also referred the case to the u.s. attorney. he called for a criminal investigation into trade secrets. uber's competition "waymo" filed the lawsuit claiming uber used some of their information to build their self-driving car systems. >>> prices down at the pump but it may be hard to notice the downward trend in the bay area. drivers in san francisco paying some of the highest prices in the count

the end of the retail -- the end of the earnings season. kohl's, macy's, nordstrom, so we'll talk about those things, too. >>> let's get to our market roundtable discussion. joining us on equities is ed campbell, portfolio manager at qma, which has 1$116 billion in assets under management. on the economy, we have david owen, chief european financial economist at jeffries. our guest host for the hour is peter boockvar, from the lindsay group, also a cnbc crib ontribu. welcome to all of you. peter, tell us what is driving things. you hear these headlines, the distraction out of washington, yet the s&p 500 and nasdaq are setting new highs. is the market just writing this off? >> i think so. they're focused on $19 trillion economy that will not get affected if comey is in place or not. they're focus the on tax reform and believing that something will happen this year. that's the hope, that could get pushed out to 2018. they're celebrating good earnings. granted off an easy comparison. but after six quarters in a row of earnings declines, to start to see an upward trajectory is importa

incomes means successful retail like the wood mor town center and soon a nordstrom rack as well. the counties economic developer say it's easier said than done. >> we are a wealthy county, relatively to the washington, d.c., are much wealthier. >> a sacks or neiman marcus may not be in the county's immediate offer. >> i'm from kentucky. they got a ruth's chris where the median household income is 40,000. there's no excuse why we don't have a ruth chris. >>s things are coming along. >> reporter: while shopping didn't work that a regional medical center will. this is where it's going to be built and when that happens county officials are expecting the median impact in the largo area to jump from 8 120,000 and they say when that happens, higher end retail will follow. in lar goe, i'm tracee wilkins, news4. >> lee on out in marlow heights with the look at our sweltering forecast. >> he's looking cool, though. >> reporter: it's hot but it's not that hot. the humidity not that much. storm team 4 by 4. 91 degrees, relative humidity now 31%. dew .62, once it gets above 65. so yeah, it's on t

retailers that reported lower sales including kohl's, diller's, and nordstrom's, and this happens as more people are shopping online. >>> the labor department reports that claims for jobs fell by 2,000. analysts say it reflects the strength of the job market. last week the government reported the unemployment rate fell to 4.4% last month, its lowest level since 2007. >>> america's largest wireless carrier verizon will pay about $13.1 billion to buy straight path communications. they own various wireless services. they can be used for super fast, next generation and broadband services. >> back by popular demand, mac & cheese cheetos are returning. they're made of mac & cheese in cheetos-shaped sticks that are deep-fried. last summer they were constantly sold out. this is coming may 18th. anne-marie. >> i feel like it's a color we've never seen in nature. >> cheetos orange. >> only in america. >>> still ahead, military hardware comes out of retirement for a new fight. >> reporter: i'm chris martinez in sacramento, california, where aircraft once used to fight wars are being repurposed for a

that he's kplands more in the last month about nordstroms than the russians. this is a foreign nation that has atakds us. and they're continuing to do such activity and determined to do it more, more emboldened in it. if we don't take action, it's going to continue to happen. what i know from my briefings and my engagement, they're getting more and more sophisticated in their ability to undermine our election. they are becoming -- they can't match us tang for tank, aircraft carrier for aircraft carrier. they are finding others insidious means to undermine our democracy and very flankly, the values for which we stand. >> ok. thank you very much. >> thank you very much. >> and next, when is a wall just a fence. white house spokesman sean spencer -- sean spicer -- iechls -- has an explanation you've got to hear. and showing the spots where the mothers of all bombs detonated, the biggest bomb dropped since hiroshima. and jeanne moos on why president trump is always talking about himself in the thirds person joomplts trump was able to gets them to give something i don't know what the hell

. >> nordstrom's. >> we'll have that forecast too. >> it seemed like a good plan. sell the iphone and pay for a trip down to the ocean, but in the end, she ended up with nothing. the story coming up. >>> also, we have continuing coverage of our top story, the attack in manchester, england. >> witness accounts of what went on and a former fbi agent gis >>> you're watching news4 at 5:00. [ screaming ]. >> everyone running back up the stairs again, panicking, screaming, shouting, praying. grabbed my friend's hand and we just ran. but we looked and we could see the bodies on the floor. and outside and in the arena everywhere and all sorts. >> chaos and confusion outside after an explosion outside the of the ariana grande concert, as thousands tried to make their way out of that verizon center-sized venue in england. 22 people killed, dozens injured when a lone suicide bomber set off an ied outside the manchester arena. among the dead, an 8-year-old girl. police identified the bomber as a 22-year-old british man. he is said to be the libyan descent. overnight and this morning, another young ma

price tag? just over $1400. $1400. i guess maybe you wear them with the nordstrom mud already on them jeans maybe? make a whole outfit? >> make the lavar ball 495 shoes look good. >> that's true. not bad. >>> in sports tonight, the giants, they made some history tonight in cincinnati. it was one nice moment in an yes, the fuel is complimentary for up to three years. yes, it has an epa-estimated range of 312 miles. yes, you will probably have to answer lots of silly questions from strangers. yes, this is a mind-blowing marvel of technology. and, yes, you can buy it today- because the future doesn't start next week, next month or next year... the future starts now. in the hydrogen-fueled toyota mirai. intercourse that's painful due to menopausal changes. it. it's not likely to go away on its own. it took my most honest friend to help me do something about it. she told me premarin vaginal cream can help. it provides estrogens to help rebuild vaginal tissue and make intercourse more comfortable. premarin vaginal cream treats vaginal changes due to menopause and moderate-to-severe painful

retail like the wood mor town center home of the countyies we goman and soon it will have a nordstrom rack as well. the county economic developers said it's easier said than done. >> we are a wealthy county relative to the united states. relative to the washington, d.c., howard county, fairfax county, are much wealthier. >> reporter: that sacks or neiman marcus in the immediate future. >> i'm from kentucky. which 77,000. there's no excuse why we don't have a ruth's chris. >> things are coming along. >> reporter: while shopping didn't work at the boulevard location, the county is betting that original medical center will. this is where its going to be built and when that happens, county officials are expecting the median income in the lar goe area to jump from 80,000 to 120,000. and they say when that happens higher end retail will find. in largo, i'm tracee wilkins. >> starting next fall virginia will start rolling out a new version of its driver's license and state i.d.s. the change is part of the 2005 real i.d. program that includes stricter and more secure requirements for these ca

nordstrom taking the market down again today, and even the a slowdown in its e commerce business. throw in the fact that deutsch bank slapped an out right sell rating on general electric and this whole thing has made us think that the market has qualms about selling by the enterprise and by the individual. i expect the same battle to play out again in next week's earnings score card and you know what it's going to start with? a company called trevago. last week we sat down with the travel behemoth, it's forecast, it's forecast was regarded as downright downbeat and the stocks shot a quick 100 points. so we got to figure out which is right, expedia or price line, why don't question let trivago. tuesday marks the beginning of next week's reports. out starts with the despot, home depot. now in the midst of all the findings about bricks and mortar stores, home depot has been subsequently putting up tremendous numbers. i think home depot is going to be able to tell a pretty darn good story when it reports. you know i always encourage people to buy this stock, but not all at once, but

, macy's jcpenney, target, nordstrom, all taking pretty significant plunges here. jcpenney down 14%. nordstrom down 10% due to couple different things but that underlying sort of what you call it, art world when you can still see when is underneath the actual painting, rise of amazon and online shopping leaving shopping malls and anchor stores boeing out of a business or with a smatter offing people. these images on the screen earning title ghost malls. oppenheimer managing director brian nagel what is really at work here. it can't all be just amazon, is it? >> no. i think amazon is a big piece of it or a piece of it. other factors at play. in my view, i've been talking about for a while, we have a sluggish consumer environment. the consumer is not performing as well as one would expect in the economic cycle. on top of that recently, weather, we don't like to use weather, it sounds like an excuse, weather has been a challenge for retailers in part of 2017. liz: i want to challenge you a bit on consumers. april retail sales up but it missed by.to in2 of a percent. year-over-year up

lost sales including coles and nordstrom's. this happens as more people are shopping online. >>> the labor department reports that claims for jobs fell by 2,000. last week the government reported the unemployment rate fell to 4.4% last month, its lowest level since 2007. >>> america's largest wireless carrier verizon will by $3.1 billion to buy straight pass communications. they can be used for super fast, next generation, and broad band services. >> back by popular demand, mack & cheese cheetoes are they're made of mack and chief in cheetos shaped sticks that are deep-fried. last summer they were constantly sold out. this comes up may 178th. anne-marie. >> i feel like it's a color we've never seen in nature. >> cheetos orange. >> only in america. >>> still ahead, military hardware comes out of retirement for a new fight. >> i'm chris martinez in sacramento, california, where aircraft once used to fight in wars are being repurposed for a different kind of battle. i'll tell you about their new mission coming up. just head & shoulders? (gasp) i thought it was just for, like, dandruff n

and you have individual retailers as well, continuing to show signs have been weakening. nordstrom, jcpenney, and sears reporting on that front. on the accounting front, dick's sporting goods saying -- dick's computational error. internal accounting review is nearing completion. though shares popping by 6%. julia? julia: turning to europe, finance ministers and central bank governors are gathering in italy. lucky them. the meeting comes one day after the u.s. had a trade deal with china. matt miller has this report. map: steve mnuchin arrived two hours late to this g7 meeting but he did say he was excited about u.s. trade policies. and about the new u.s. agreement on trade with china. that is a bilateral agreement. the leaders here want to stress multilateralism. they will talk about, in the communique, inclusive growth. the same agenda they were pushing at steve mnuchin's first meeting at the g-20 over a month ago. however, a lot has changed since then. happy in terms of its outlook with global trade. they will continue to work together and try and find a solution for the communiq

nordstrom results. they are not waiting at all. they're already getting they are already getting it down 6%. they are basking in a little bit of sunlight. up nearly 3%. they serve up a boardroom shakeup. all of that coming together to get the stock with a bit of a pop. the former fbi director firing appears to be spreading both in and beyond washington dc. the temporary replacement testing before congress earlier today and the acting director promising the investigation into the trump campaign ties with russia. nbc news it's pretty stunning they broke into programming across most of their networks to air part of lester holt's sedan with president trump. he was ask if he was under investigation and here is what he said about his meeting with the now former fbi director. with a very nice dinner and at that time you told me you are not under investigation. you just left the press briefing a short time ago. it felt like a hearing. assuming there was one question after the next. it's a story of the day and one of the issues really the main issue is that the press shop have to address at

sales, really very bad. all the other major retailers including nordstrom, jcpenney, the whole lot, down big. 13, 12, 7, 8, 9, extraordinary drops for the retail ice age companies. all right. >>> president trump is going to spend two days in israel during his first foreign trip. he's also going to saudi arabia. we've got more on that story. what is the president up to in the middle east? and we've got the market, of course. we're down 86 points now, 20,856. we will be back. ♪ ♪ [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward. at wells fargo, it's our expertise in finding this kind of insight that has lead us to become one of the largest investment and wealth management firms in the country. discover how we can help find your unlock. buttrust angie's list to help., [ barks ] visit angieslist.com today. at crowne plaza we know business travel isn't just business. there's this. 'a bit of this. why not? your hotel should make it easy to do all

this month. watching shares of north -- nordstrom, heavy retail day with both macy's and kohl's to report this morning. cheryl casone with the details now, cheryl. cheryl: south dakota, officials are classifying 84-gallon oil leak as minor but the tribe proves the argument that the pipeline isn't safe. the tribe leading court battle saying the pipeline was -- would poison water used by the tribe. replacing five directors and naming a new chairman and a new chief financial officer, whole foods revealed quarterly earnings and a new stock buyback plan to speed up sales and turn-around plan. investor like what they are seeing right now. shares of whole foods, 3 and a half percent in the premarkets and certainly a stock to watch today foryou. you might want to look at apple as the market opens, they are expanding big time in reno, nevada, include the hiring of a 100-permit workers and that would double the size of the workforce at the reno technology center and the company will be eligible for millions of dollars in tax breaks. well, a rules change could keep out netflix. starting next

. nordstrom's posting better than expected earnings and revenue, but the stock dropped on a same-store sale miss. they're the latest department store to get hurt by a slump in clothing because of online shopping. macy shares dropped 17% yesterday during the trading session after quarterly results missed. it was the worst day for macy's shares since 2008. we'll get another schanapshot o the retail space this morning as jcpenney posts results before the opening bell. it's struggled and struggled for so long. that chart is just one part of a very long and tortured story. >> no a coincidence that bezos is worth 81 billion as this is going on? >> consumer lab by thabits have. >> i would be ecstatic if i had a tenth of that. 8 billion. or a tenth of that, 800 -- wait, i would be ecstatic with a tenth of that and a tenth of the next thing. >> the scientific notation? >> he's like four places ahead of anything we can ever -- you know what? >> are you back to that whole wealth tax thing all over again? >> no, i just thought now, you were looking me in the eye, which i warned you before the show, to

customers. which stores you think are changing with the times. the great example is nordstrom. if you look at the component of sales for nordstrom's for one highlight the value component is doing great. anything that has a discount or a value flavor to it. like outlet malls for example. i have done well. nordstrom is online. in the e-commerce segment are doing much better than the traditional store. that is one example. i know the president's tax plan is one of the critical issues for commercial real estate is in it. i would say the economy is in some ways in a weighty mode right now. if you take a look at the enthusiasm for the overall growth orientation it's been off the charts. sentiment is up. if you look at the first quarter results in consumer spending was very weak. gdp was very weak. they're waiting to see what the details of the tax plan are. and that has really shown up in the commercial real estate sentiment as well. the institutions are waiting to see what all of this means. fundamentals are great. occupancies are very strong. but sales had slowed pretty dramatically in an

nordstrom is a rental. but overall, don't get too negative on retail right now. i point out that anf makes it hard on retail. >> we have some oil working today. >> that's good. i have a company that never does tv. they're a rigorous company. i have the real estate company, cbre and jack hartung, we'll find out if chipotle is back. they have done a magnificent job in trying to navigate a very difficult situation. oh. >> go rest. see you on the air in ten minutes. >> well, holy cow. >> "mad money" tonight, 6:00 p.m. eastern time. >>> when we return the latest on the president's firing of james comey. where the trump agenda fits into the mix. and more reaction to disney and what you should do with that stock as it's down 3% plus. back in a moment. whether it's connecting one of the world's most innovative campuses. or bringing wifi to 65,000 fans. businesses count on communication, and communication counts on centurylink. ♪ >>> good wednesday morning. welcome back to "squawk on the street." i'm carl quintanilla with sara eisen and david faber at the new york stock exchange. the markets tryi

wound, judge. >> kohls down 6, nordstrom 7, macy's 8. you can go down the list. >> dillard's 12. >> overall retail sales are up but not at the retailers you named, judge. when we talk about easy comps and tough comps on the show all the time. these guys, macy's, coming off a year ago quarter when the same-store sales were down 6%. now they come out down 5.25% or something like that. this was just a terrifically bad quarter. obviously i and anybody else who had calls into this thing just saw them get flushed. the only good news there is stock's down almost $4. and the options you could only lose what you paid for them, 40 cents or whatever. >> it's a giant slap in the face. >> it is. >> to anybody who thought that retail had bottomed or was close to bottoming. look at these declines today. >> but it doesn't say bad things about the consumer. >> it's just ugly. >> some people are going to want to read through and say -- i'm not saying that's what you're saying. >> i don't think we're doing that. >> overall retail sales are up, but the problem is that they're up of course at amazon

nordstrom which posted a decline in same store sales, its stock falling in initial afterhours trading. >>> it was a dramatic week in washington topped off by the sudden firing of fbi director james comey by president trump. although the stock market did not react to the surprise move, investors have been following the potential fallout closely. today, in a nbc news exclusive, lester holt asked the president about his decision. >> he's a showboat. he's a grandstander. the fbi has been in turmoil. you know that. i know that. everybody knows that. you take a look at the fbi a year ago, it was in virtual turmoil, less than a year ago. it hasn't recovered from that. >> monday you met with deputy attorney general rod rosenstein. >> right. >> did you ask for a recommendation? >> what i did was, i was going to fire comey, my decision. >> you had made your decision before they came in the room? >> i was going to fire comey. there's no good time to do it, by the way. >> because in your letter you said i accepted their recommendation. you had already made the decision. >> oh, i was going to fire

. its sales are falling. same store with nordstrom, same-store sales are down. in a half hour you'll see j.c. penney stock take another big tumble. this is dramatic. not only are household names disappearing from the retail landscape, the shopping malls are emptying, fewer foot traffic, fewer anchor stores and ghost malls are popping up all over. like it o

walk into a macy's or kohl's or j.w. nordstrom. that's an experience you have to be in the store to get. the web experience is not the same. best buy and walmart now with jet can do that and compete with amazon. >> so they're benefitting as well from h.h. gregg closure. >> sure. >> gaining those customers and have been well positioned the last couple of years. you and i have talked about this stock for the better part of 18 months. they are well positioned to continue to gain customers. they have done the right things within the store. you can point toward today's earnings and say nintendo, whatever game it is, is really the significant contributor to this earnings but i think that's the wrong way to look at it as if this is a one-off. >> but we're talking about 1% revenue growth. so this is more a tribute to the ceo, how he's positioned it with the street. the shorts keep coming after and try to short it, 1% revenue growth and cutting cost. that game ends at some point. so he's going now, it's not a cheap retail stock. and so -- >> the vertical integration that they have done have

since october of '15. the road map begins with a rough week for retail. nordstrom and penney are down this morning. >> nbc's lester holt sat down with president trump and we'll bring you the highlights on russia and more and plus the tweet storm this morning, threatening former fbi director comey. >> apple is taking aim at another all time high today and two analysts raising the price target. first up though, government data showing retail sales up 0.4 in april. the strongest gain in four months and nordstrom beat on revenue and comps are down 0.8. penney's swinging to the surprise profit, but revenue misses on a 3.5% decline in comps. jc penney is going to give its all time low run for the money today. >> what can i say? minus 3.5 comps. they did talk about how march and april improved from february. now, kohl's said the same thing. there was a lot of etf selling yesterday. really came off of macy's. ebitda, here 40 million down from 176 last year. there's no growth and it's really hard in an environment where there's companies growing so quickly. to say listen, i'm going to buy

for their consumers. so you'll look to those higher end stores such as nordstrom's, saks, neiman's, once they fix some of the economic issues. >> very interesting. greg portel, thanks for joining us tonight. >> thank you. >>> now to the overall market. all that pain in the israeretai five.t cause s&p 500 gave back 3 1/2. for the week, all three of the averages were lower, albeit slightly. >>> meanwhile in italy, treasury secretary steve mnuchin got down to business with other finances ministers at the g-7 meeting there. he talked about tax reform and trade deals in china. our report is from italy tonight. >> reporter: treasury secretary steven mnuchin called it a productive day of meetings in italy at the g-7 gathering of the world's most powerful economic officials. i asked him how he planned to explain president trump's controversial america first trade policy. here is what he said. >> we're excited about u.s. trade policies. and i think you probably saw last night we made an announcement of 100-day economic plan with the chinese. i think we're very happy with how we're proceedin

. and there are winners, but after a week like last week, jc penney, nordstrom's, macy's, a lot of market value is destroyed in a matter of two days. >> i think that's what you're left with in retail, finding the exceptions to the dominant theme of top line decline and jc penney shows how many value traps there have been in this space for a while now. all the big kind of main line department stores, the -- basically the jc penney's, the kohls and nordstroms they're gravitating to one half sales. i don't know where the market is saying, but they're saying they're not going to grow fast. >> not at all. >> a matter of managing the -- >> some are looking at the cost to ensure them against default goes up. we're not talking about anything dire. >> we aren't. eddie lam part complained that the media is painting too dire of a picture and it could make it more difficult for sears to borrow. when you factor in and put stuff on the shelves to the extent they have stuff on the shelves at sears. >> he and sears have had no trouble keeping the money tree delivering what they need to operate. i

nordstrom's. not impacting your broader market investments. three major indexes are little changed. the dow down a scant 31 points. a little more good news for your money on this friday. shares of apple and mcdonald's hitting new records. owner of darden doing well as we bulk up on pasta. right now let's get back to what appears to be the sad new retail re reality for investors. jcpenney wiping out hundreds of millions as sales disappoint. courtney reagan to take us more inside the numbers. courtney? >>> department stores are struggling. this quarter just accelerated that trend. we knew that much already. jcpenney rounds out the doll dro doldrums, they did post an earnings gain when a loss was expected due to a real estate sale and lower expenses. jcpenney has lost more than $5 billion and is just now closing 138 underperforming stores. they still think it can hit its full-year plans but investors are skeptical sending shares to record lows below $5 per share. four or five department stores this week did beat estimates and three reiterated full-year fx. none of the five turning in bette

meryl streep or against nordstrom's. if you want to go defend him when he's lying about 3 to 5 million undocumented having voted. okay, go ahead and do that. but this transcends that. this is so much more serious. in a matter of one week, in a matter of four days, on one day, he was tweeting out an intimidation of sally yates, the day she was to testify in front of the senate. and today he sent out a veiled threat, another intimidation of former fbi director, james comey. we owe it to the professionals at the fbi, at the intelligence community to stand up and not allow this. republicans cannot continue lacking the other way and enabling this. history is going to judge them oh, so harshly, oh, so harshly if more comes out. we need to stand up and defend the search for the truth above everything else. we cannot -- we cannot hand in a blind loyalty to a president, even if it's the president of our own party. that is not the duty of elected republicans. >> paris, as a republican and someone who's been very loyal stot president, how would you respond? >> well, i think ana is 100% wr

why kind of the other retailers and the designers like it. >> i like nordstrom rack. the trend is still intact there. michael, thank you. see you tomorrow. "fast money" begins right now. >>> "fast money" starts right now. live from the nasdaq market site overlooking new york city's times square. i'm melissa lee. tonight on fast, steve eisman is here for an exclusive interview. the man who called the mortgage crisis and he's back to tell us what's keeping him up at night now. why one uber bull is getting cautious on the carmaker's big run. shares of the cyber stock soaring. the one name that could keep your portfolio safe. the dow up nearly 100 points. the s&p closing at a record high above 2400 for the first time ever. the nasdaq hitting a record and the russell 2000 soaring. amazon, 20 years after its initi initial -- market cap taking off a whopping $450 billion leaving traditional retailers in the dust as they struggle to stay afloat. the two names have been somewhat immune to amazon's demolition. the two best performing dow stocks this year. they are getting ready to report th

. >> absolutely. those are ray bans and these are of a foldable you guys. 129 in nordstrom. yeah. >> these actually do. i think everybody should own pair of aviators. >> i think they're classic and these are like $15. >> so this last pair, what do you think? >> this one is a little tougher. um, i think these are the chic ones. >> you're absolutely right. >> i can't stomp her this morning. he's are actually nashua nel glasses. they're really cute. i love those. these are cute, too. >> is this some of the hot looks right now. >> that's one of the hot looks this season. so, yeah those are really sassy. >> 30 seconds. >> one more. this last pair -- last two sets. what one do you think? >> a little tougher. >> let's see. these are tougher. i'll get this one. >> you're wrong >> finally i got her. >> these are the chic ones. >> these are versachi. >> that's the ones i pick. >> those these are the ones. these are versachi. >> wow i actually think these look cheaper. cheaper. chice. when you're finding your specks you try them on. make sure they fit your frame and, yeah, be cute in the su

kind of the other retailers and the designers like it. >> i like nordstrom rack. the trend is still intact there. michael, thank you. see you tomorrow. "fast money" begins right now. >>> "fast money" starts right now. live from the nasdaq market site overlooking new york city's times square. i'm melissa lee. tonight on fast, steve eisman is here for an exclusive interview. the man who called the mortgage crisis and he's back to tell us what's keeping him up at night now. why one uber bull is getting cautious on the carmaker's big run. shares of the cyber stock soaring. the one

are getting crusheded. nordstrom, j.c. penny. two of today's big losers. plus, another big move for apple. wait until you see these new wall street price targets. the halftime report with scott wapner and the traders is back in two minutes. the power of innovative thinking. the power of 100 of the world's top companies. the power of an etf. the power of qqq. the thinking we put in, clients get out. power your client's portfolio at powershares.com/qqq. before investing, consider the fund's investment objectives, risks, charges and expenses. call 800-983-0903 for the prospectus containing this information. read it carefully. distributed by invesco distributors inc. containin♪ this information. read it carefully. ♪ i'm dr. kelsey mcneely and some day you might be calling me an energy farmer. ♪ energy lives here. >>> both posting disappointing data. those shares are taking a big hit today. jimmy, jimmy, jimmy. >> i've been looking forward to this. >> almost incredulous. why are you telling people the stay with the stock? >> thank you for asking. i'll tell you why. the stock is bei

don't think it's over for macy's or nordstrom's. i think these stores have tremendous head winds, still, you mentioned to start the show, home depot, dan has been all over wal-mart for quite some time. these stocks still make sense, people will knock home depot on valuation. maybe 20 times forward earnings, it's getting a little expensive kward to lowes at 16. the world continues to set up well for home depot. they continue to look, few want to play retail, mastercard, vis a sa and the resurgence of american express. >> is the consumer okay though, interest rates are relatively low. could it be we threw out the whole basket of retail stocks because we we heard a couple bad data points? >> it could, i don't think the national night ma iris over yet but we have a lot coming up this week. we have macy's and nordstrom's and j.c. penney and a couple others. i think that for some of them, we're still going to see some head winds there. there is some unique head winds to macy's, because, for example, tourism is down in new york. that's still happening. there are mid shifting and are they going

tell me where you got your raincoat. loving it on fleek. >> nordstrom's. >> very nice. >> so this is sort of thing the kids will be learning about today. we love to use the park as an opportunity not just for baseball but to do positive things for the community and learning about weather certainly one of them. here's your question. what was the hottest temperature the nationals played home game in last season? >> oh, my gosh. i mean weather day was hot. it was in the 90s. i'm going to say would you have played in a 94-degree day? >> on august 13th it got all the way up to 101. >> that's awful. >> yikes. >> first of all, i'm giving mycete self up for knowing that. i don't know how the players do it in that. >> i think they drink lot of water. stay hydrated. it was >> oh, my gosh. >> one of our popular promotional day all these costumed characters i was the poor chewbacca guy was dying star wars day is may 27th. come out this year. we'll is cooler weather. >> do you lost themes for the games. what's unusual this year? star wars will be a big hit. >> i think the other big one we're look

, macy's, on kohl's. you got nordstrom, may 11 will be a very big day. will these guys walk back even more stores and coach is telling if you have the right merchandise, people still will come. >> really quickly, jim, on the ten-year, we did see the yield come off of the highs, once we got those presidential tweets a few moments ago. people were looking at positioning right now, and also what the treasury secretary said about longer term bond structures, absolutely making sense. i wonder whether or not you think it's less likely we see two, in our near future and what that means for your take on utilities, your take on financials. >> it's funny, as soon as i listened to phil lebeau and i get the numbers, you know what? anybody who doesn't readjust and start think being maybe there's only going to be one is simply not listening to the data. these are weak numbers for autos. autos have been pretty good. housing which is okay, is punching above its weight but united states has been the lagered this quarter. when we see the retail sales number we'll puzzle and a lot of retail sales going to am

. >>> retailers, those stocks getting wrecked again as macy's, nordstrom and jcpenney report earnings. what the future holds for those department stores. more "squawk alley" is next. doi? oh hey john, i'm connecting our brains so we can share our amazing trading knowledge. that's a great idea, but why don't you just go to thinkorswim's chat rooms where you can share strategies, ideas, even actual trades with market professionals and thousands of other traders? i know. your brain told my brain before you told my face. mmm, blueberry? tap into the knowledge of other traders on thinkorswim. only at td ameritrade. >>> good morning, everyone. i'm sue herrera. police and rescue crews rush to the scene of a nursing home and rehabilitation center in ohio after reports of an active shooter. a police officer was shot and the apparent shooter was neutralized. no further details provided. >>> north korea demanding spy chief accusing him of being a mastermind of a plot to assassinate north korean leader kim jong-un with a biochemical weapon. >>> pope francis, flying to portugal today to visit the shrine of

nordstrom may be one of the best ways upgrading the stock to a buy saying, quote, a number of long-term drivers make current levels a good opportunity to buy a high-quality name. this is our call of the day. let's trade it. pete, you dare to own nordstrom stock? >> i do own it. i think i'm down a little bit right now frankly on this thing. what i like about them, brian, is obviously they got themselves in the off brand side of it with nordstrom rack. >> doesn't that then bastardize their own business? >> probably a little bit but they're also very strong online. when you combine those two, they were one of the early adapters going into the online world and competing there. they have done an excellent job. when you look quarter over quarter, they have seen growth there in their company. so the main story, yes, they have had some problems. but they are talking, not me, those that are upgrading today and raising the price target, they're talking about some of these things. >> should there be a smidge of a potential takeover premium? >> no. i don't know if i'm going there. >> we've see

-- stocks selling up 20%. nicole: retailers such as macy's, kohl's, nordstrom's report today. lauren: boston celtics in their series against the washington wizards. and in their season. we'll show you all the highlights. nicole: could rescind learning. 5:01 a.m. in new york. we welcome new "fbn:am: common your first look at morning markets and breaking news. lauren: us who like to say, one more alarm clock. fbi director james comey said in a letter to colleagues saying in part i'm not going to spend time on the decision for the way it was executed. i hope you won't either. it is done. i will be fine. although this elimination deeply. house speaker palmer and reject calls for a special prosecutor. >> we have three investigations going on. a house committee which is the appropriate committee to do that i believe. the senate intelligence committee and the fbi investigated the expression. lauren: but permanent the white house with more. >> president trump had considered firing james comey since the day he was a good according to the deputy white house press secretary huckabee sanders who

clothing a awe two weeks ago told you about muddy jeans on sale at nordstrom's. the pants with the fake dirt stains are going more than $400. >> neiman marcus upping the ante for future destroyed high top sneakers. come with holes, tears, scratches and they can be yours for the bargain price of $1,425. >> nice. >> awesome. >> the sneakers -- also have staples in them. >> in that case. >> they're not dirty. you provide your own scuff marks. do they reek, that's what you need? >> old sneaker smell. >> smelly. >> ones you forgot in the rain te never quite get it out. >> then that would be. >> the new craze, i have a few shoes frank got his teeth on. >> your rabbit. >> go a little below asking. go for $1200. bargain. >> started out as jimmy choo. got chewed on. >> frankie chew now. >> the major wreck at talladega, 18 cars. >> the girl in the fight of her life. able to escape an alligator latched on to her leg. >> a man, trapped overnight, driving into a deep mine shaft. the new details on the rescue for him. >> and remember to find ous on facebook, wnnfans.com, and twitter, @abcwnn. you're

retailers outside the toy world. >> we got the attention of people like nordstroms, people like neiman marcus. it was coming from everywhere. but it was based on a cool product with a lot of quality. in they followed up with other fashion industry marketing practices. like asking retailers what new styles they wanted for next year. questions that toy sellers don't usually get asked. we said what do you like? what are your color themes? they look at us like we're crazy in the toy world. >>razy because toymers dot tweak successful products. >> in the fashion wod, that's the dialogue that takes place. we were behaving the way we knew. >> and what beaver and xim knew was new styles bring buyers back for more. >> we do cheetah prints, peace signs, all sorts of colors, cameo, classic, whatever the customer is looking for. and it blew out at retail. >> this explosion of styles led them to another fashion business tactic, the private label or special editions branded in the name of big retailers like nordstrom,nyman and others. >> when you do that, it's a limited amount you're doing, you're do

. i keep hoping that the f corps will do something. >> we'll get to nordstrom and macy's and kohl's along with a bunch of media names. >>> the french election came out as elected, macron beat he opinion. 66% of the vote. the polls had him up by about 24. le pen had promised to pull france out of the eu if she won. people may wonder if there's not more of a relief rally today, jim. but discussion is about how many seats he can win. >> yeah. the french market had a good week last week. one of the things that i think maybe we get away from this is this -- this constant worry about who's going to lead the eu. if we talk about italy it will be the same thing. you're not going to get -- it was the -- the dutch election was the high tide of so-called nationalism. i think that the french in the end really there was a lot of commentary. we have had some great from michelle and from wilf. but that last debate was kind f of -- you know, kind of a shocker to the french people about a lack of knowledge of the country. and i just think that when we think about europe now we should think about it

and challenges of globalization. more retailers reporting today. kohl's, macy's, nordstrom, tomorrow, jcpenney. we'll have a lot to get through there. that's been a weak area in consumer spending. >> the market has been reacting to earnings, so we'll keep an eye on that. >>> counting down to a rate decision from the bank of england. we'll go live to london coming up. >>> as we head out, another check on u.s. futures pointing a bit lower by about 18 points. we're back in a couple minutes. . since i added futures, i have access to the oil markets and gold markets. okay. i'm plugged into equities- trade confirmed- and i have global access 24/7. meaning i can do what i need to do, then i can focus on what i want to do. visit learnfuturestoday.com to see what adding futures can do for you. that's why a cutting edgeworld. university counts on centurylink to keep their global campus connected. and why a pro football team chose us to deliver fiber-enabled broadband to more than 65,000 fans. and why a leading car brand counts on us to keep their dealer network streamlined and nimble

. beauty has been a strong player in retail. we hear from cody and elf and kohl's nordstrom's and macy's. it will be the first conference call. if you are long, the department stores, some may call you break as you are hoping for good news after a bummer of a holiday season, knack, since the beginning of the year kohl's has said j.c. penny lost a third of its value or $870 million. to be fair, it's not all bad, in order stroms are up about 2.5% year-to-date. forecast broke the metric with evaluating the health of retail companies. you have to watch out for gross margins. macy's and j.c. penny and sears are closing their stores, shrinking their fleet in order to capture possibilities. see if it works. >> thank you, courtney reagan. with all eyes on retail, could next week's earnings be a make or break space? what are you looking for? >> it will be clearly expectations are lows, very low. for me, coor's has been a very difficult one this year. they are a year maybe behind coach. >> that is a great example for them to fall as they could. turn around north american same store sales, t