I'll get to the markets in second, but you've got to hear this. Sears (SHLD) couldn't quite figure out the online shopping thing but when it comes to selling some assets online to raise some cash, it's no issue for Eddie Lampert. That was Wednesday, as the struggling department store chain said it would auction off 16 of its stores online, using the real estate services of Cushman & Wakefield Inc. and Real Insight Marketplace. The firms said that about 200 groups have expressed interest and those parties include developers, retailers and real estate investment funds. If only it could get that many people actually into the stores. OK, now to the markets.
The Dow and S&P 500 fell Wednesday for the second time in the past seven trading sessions after President Donald Trump hinted the U.S. could intervene in the Syria situation. The hardest hit Wednesdaywere DowDuPont Inc. (DWDP) , UnitedHealth (UNH - Get Report) and Verizon (VZ - Get Report) .
But while most were focused on geopolitical tensions, TheStreet's Jim Cramer points to nuances of the Fed minutes from last month and strong oil as a better indication of the turmoil underpinning the current swings. "So let me give you my bottom line: don't blame the president on this one. In fact, maybe pick up some stock of Amazon (AMZN - Get Report) given as he seems to be distracted for the moment with foreign policy," writes Cramer, pointing to Fed minutes that "show that perhaps it is itching to raise rates right into a potential global slowdown because that really does impact" what the market says about valuations.
Facebook (FB - Get Report) update: Turns out some milennials can actually handle adversity without calling their folks. At least that's what investors seemed to say about Mark Zuckerberg, who endured his second day of testimony in front of Congress over the company's data policies. Facebook's market value gained about $17 billion during the two-day testimony, not too bad, but this thing is far from over.
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Photo of the day: Memories of darker days
To many Americans bomb shelters, anti-communist rhetoric and kids hiding in cubbies seem like outdated concepts from the days of the cold war that are long behind us. But for U.S. investors alike those images came crawling back Wednesday after President Donald Trump's early morning tweet. According to the president "Our relationship with Russia is worse now than it has ever been and that includes the cold war." The comment sent chills down the spines of many and seemed to rattle markets. Read More
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