Claman on Call: Moody's Downgrades Russia's Debt Rating
Claman on Call: FBN’s Liz Claman with an after-hours web exclusive on the markets, Moody’s downgrade of Russia’s debt rating, Ebola, and Sandisk’s effort to keep up with Apple’s rising demand for flash memory.
Russian debt was downgraded one notch by Moody's -- and the outlook remains negative. One of the reasons for Moody's downgrade: Subdued growth prospects.
Back at home, a turbulent week for the markets -- the biggest indraday swings we've seen all year. Despite Friday's rally, major U.S. averages heading into the weekend with a fourth-straight weekly loss. This was the S&P's longest weekly losing streak in more than three years. Industrials, materials and utilities were the only three sectors in the S&P 500 that finished the week higher. Sandler O'Neill Chief Market Strategist Robert Albertson told FBN this is not the end of the selloff, so get your money ready for a wild ride in weeks to come.
And if Apple is struggling to keep up with the crazy demand for its newest iPhone 6, what about all the suppliers? Sandisk Co-founder and CEO Sanjay Mehortra joined FBN Friday, and he says he's up for the challenge.
Also, the Ebola hysteria is spreading in the U.S. An infectious disease doctor, who's been warning about the virus since September, told FBN West Africa is the No. 1 problem and needs to be tackled immediately.
Now, here's what you need to watch next week: We'll get two key housing reports for the month of September, existing home sales out on Tuesday and new home sales on Friday. Plus, third quarter earnings bonanza continues with a slew of big tech names reporting results, including Apple, IBM, Yahoo, Amazon and Microsoft.
Be sure to check out all of today's interviews on FOX Business.com/OnCall and be sure to tune into Countdown to the Closing Bell every week day at 3 p.m. ET.