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This is -- Imus in the morning.
Around on the Fox News.
Good morning everyone retail sales unexpectedly rose in April -- households bought more automobiles building materials underage and other goods.
Than they did last month sales are up 110 of a percent from march easily beating the expected decline of three tenths of a percent.
And a much better than march's revised decline of five tenths of a percent.
-- you factor out auto sales were down 110 as expected gasoline sounds are also at their lowest level since December of 2008.
Given -- retail sales account for 30% of consumer spending.
The Federal Reserve has developed a strategy for winding down its unprecedented bond bank bond buying program that is that was aimed at boosting the economy.
The Wall Street Journal reports that officials are planning to cautiously reduce the 85 billion dollar month program based on their confidence in the job market and outlook on inflation.
But the timing of just went to start that process is still being debated the general says the Central Bank is also working to clarify its strategy.
So that markets don't overreact stocks and bonds have taken off since the Fed said in September it would increase.
The bond buying program with the Dow and S&P 500 setting new records on Friday.
And it looks like the IRS is targeting of applications for tax exempt status from conservative groups.
It's deeper than first thought.
Documents obtained by Fox Business show that as early as march of when he can the government began searching for applications.
Involving the Tea Party patriots and 912.
As well as those that contain phrases like we the people.
-- take back the country are those that advocated to make America a better place to live and criticized how the country's being run.
That he -- emerge from an audit by the treasury inspector general for tax administration.
Filing complaints during last year by several conservative groups that they had been singled out and subjected to excessive and inappropriate questioning.
By the IRS that report is expected to be released this week.
Thirty minutes away from the opening bell on Wall Street in -- have been in the red across the board.
All morning we're seeing Dow futures now down sixteen the S and -- down to the nasdaq's down three.
But for preview of the trading day let's go over to the -- at least on the floor of the New York Stock Exchange -- -- Good morning Diane good morning everybody while we're watching a few things happening here we got in our retail sales numbers -- Just slightly better than expected UC RI US stock -- -- teacher's -- To a slightly lower open about 110 of 1% Friday's action was up about 36 points.
The weekly numbers well we're up three weeks in a row last week.
The Dow Jones industrials gained one full percentage point I was in a hundred.
And 44 points we've seen some strength and health care and consumer discretionary recently today we see the dollar just slightly higher commodities -- back.
Let's talk about some of the analysts moves this morning thanks by the -- are mixed this morning Cisco Systems Dow component.
While the results are likely to be mixed according to Piper Jaffray they have an overweight rating they reiterate.
This overweight rating on the stock at a -- at 25 dollar price target on Cisco Systems which is higher obviously than his current levels of around 21.
Now what we're following the -- story up Carl Icahn was on the Neil Cavuto on Friday would continue to follow this is Dallas special committee is asking.
For more information.
From icon and southeastern asset we'll continue to follow that story because that's obviously a big one on Fox -- that we.
Covered since the beginning.
Autism was downgraded this morning over at Deutsche Bank we see some of these names doing well people get in there that by the parts in -- Also downgraded to a hold from a buy to expect -- up.
So we're keeping the price target for the shares the same Blackberry.
While the sell through looks happy healthy according to RBC capital so.
That's actually some good news there for Blackberry because the results have been mixed on their new products -- on the Q ten.
So they keep this sector perform rating got to get Google that's another -- watching very closely here.
There is a report on Google this morning price I was raised over a Bank of America Merrill Lynch so the new price target with -- buy rating.
Box from 875.
Now -- this morning about that a 35960.
Anybody's a thousand animated everybody's getting crazy right I think -- we'll see if that happened.
Nike Nike getting some positive comments they've done well at their LeBron Susan some of their patents and they're holding on to General Motors CEO.
Some profit in -- I'm putting some headlines on Bloomberg and Groupon.
-- to the downside that's something I'm gonna watch this morning as well that was a downgrade there so those hot stocks to watch the environment is -- -- -- When we talk about -- the bonds on the move on the heels of the retail sales earth.
Back to you.
All right that's the -- -- -- -- on the floor of the New York Stock Exchange thanks to gulf.
And -- looking at a big week for economic numbers import and export prices for April.
We'll be released tomorrow and those will be followed by producer prices for April on Wednesday which measure inflation on the wholesale level.
A look at the housing market on Thursday when the government reports housing starts for April along with consumer prices.
Weekly jobless claims and the Philadelphia fed survey for May.
-- week wraps up on Friday with the Thomson Reuters university of Michigan's preliminary report.
On consumer sentiment for this month Imus in the morning continues right now on Fox Business.
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