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Stocks: Where are we now? Forget the narrow trading range, low volume and low volatility. Beneath the August doldrums, stocks are moving.
The old Wall Street chestnuts aren't working ... or are they? Several traders have inquired why the old Wall Street chestnuts don't seem to be working any more:
Have we entered some weird new universe? Is the Fed causing these signals to fail? (That's what a lot of traders think.)
Macy's takes the lead and finally starts addressing the overstored retail landscape. Macy's CEO Terry Lundgren showed up on "Squawk Box" to talk about his company's earnings this morning, and threw out one of the more interesting stats I've heard this month.
He noted that the United States has 7.3 square feet of retail space per person, while France and Japan both have 1.7 square feet, and the U.K. has 1.3 square feet.
The United States has almost five times more retail space per person than France, Japan and the U.K.? Yep. Terry rightly described the situation as "ridiculous."
Lundgren is addressing that by announcing Macy's will be closing 100 underperforming stores out of a base of 728. That is quite a reduction. The annual sales loss could approach $1 billion, but that might be offset somewhat by expense savings.
The opening of the World Trade Center retail complex comes at an important moment for downtown New York: 15 years after 9/11 the downtown has completely transformed, but is there enough demand for a huge retail complex?
The Westfield World Trade Center, as it is being called, consists of 125 stores, plus Eataly, a 41,000 square-foot food emporium where shoppers can buy 300 types of cheeses, 150 brands of olive oil, 300 types of dried pastas, and dine and drink their way through restaurants, coffee and pastry and prosciutto bars, and take cooking classes.
It all sounds wonderful, but who are the customers? Downtown players I've spoken with identify three key constituents.
Westfield, which is in charge of the retail complex, says it anticipates 15 million global travelers to visit downtown by 2017 to visit the 9/11 Memorial and Museum, 1 WTC Observatory and other local points of interest.
This dull market is masking a tech breakout.
In an exclusive video for PRO members, CNBC's Bob Pisani explains what the rally in tech means for the overall stock market.
CNBC on Monday is initiating a new way to look at the global economy —specifically a new way to look at a very important part of that economy: the "new economy."
We're launching a new set of tools in conjunction with our partners at Kensho that we — and our viewers — can use to better understand the rapidly changing economy and investing landscape.
They're called Kensho New Economy Indices, a series of 16 indexes that provide ways to invest in disruptive technologies and trends using the existing public markets.
By the "new economy," we're talking about industries that are poised to grow rapidly in the next decade, and grow fast: The phrase "exponential growth" is often used. But what exactly is it? And more importantly — how do you measure it, and how can you invest in it?
The speculation comes amid a fresh round of criticism the outspoken New York businessman has lobbed at the Fed.
The commodity's prices could quickly dive to $40 or lower if OPEC members leave Algeria on Wednesday without any promise of a deal.
Many on Wall Street agree with Donald Trump's criticism that the Fed waited too long to raise rates.