Yahoo Finance Apple Watch turns one year old and trounces iPhone sales
Today we discuss Apple Watch's anniversary, Goldman Sachs going retail, and department stores in trouble.
Stocks (^DJI, ^GSPC, ^IXIC, ^RUT) are down midday led by the energy sector (XLE), with consumer staples (XLP) the only sector in the green. Keith Bliss joins us live from the floor of the New York Stock Exchange to discuss the Saudi Arabia state oil IPO and what the Fed is thinking going into the two day meeting Tuesday.
Joining Yahoo Finance's Alexis Christoforous to discuss some of the other big stories of the day are Yahoo Finance editor-in-chief Andy Serwer and Yahoo Finance's Nicole Sinclair.
Happy Birthday Apple Watch
The Apple Watch (AAPL) just turned one year old, and for all the naysayers who are saying it's a flop, the numbers are suggesting otherwise. While Apple doesn't disclose actual sales, experts are pegging them at 12 to 13 million units, which is twice as many iPhones sold in their first year. Is the Apple Watch a hit or a dud?
Goldman goes retail
Forget Wall Street whales, Goldman Sachs (GS) is now opening the bank to the smallest of minnows. The financial heavyweight has launched GSBank.com, an online bank open to any depositor looking to gain around 1% on a savings account. Goldman acquired the platform via GE Capital. Why would Goldman Sachs want to open an online bank?
Department stores in trouble
Closing down shop may be the best way to improve productivity, at least if you're a department store. According to a study by Green Street Advisors, if large retailers want to regain the productivity they had a decade ago, they would likely need to close over 800 stores or about a fifth of space in U.S. malls. Macy's (M) and Sears (SHLD) aren't looking so great. Who else is on the list?
