Europes largely flat, same for the 10year as revised q2 gdp is largely in line. It is all about the fed today. Janet yellen speaking in jackson hole. 10 00 a. M. Eastern time. And right here, you will hear from former fed governors randy crosser in, fred mishkin and former and current vice chair of the Federal Reserve Stanley Fischer at 11 00 a. M. Eastern time in reaction to Janet Yellens speech. To our man on the ground Steve Liesman, good morning, steve. Cant get over the dress. The clothes. Thats all right. Its were waiting at about an hour now less than an hour now for Janet Yellens much anticipated speech, but in the meantime weve had really interesting fed speak this morning right here on cnbc. Most of the fed folks were talking to see rates going up. Not willing to be necessarily nailed down to a timetable but Loretta Mester did say just about a half hour ago, that she sees the u. S. Economy improving enough for the fed to raise rates. I think well have some strengthening in th
Stephanie ruhle, and her extended conversation with the cfo of herbalife. John, thank you for joining us today. I want to start with Hershey Square has been saying for the last year the you have been miss marking your venezuelan exposure, and you made a correction. Why is that . A correction. Ake sachsen circumstances drove the weight we used in venezuela. Every company use the same rate of 6. 1. Venezuela is an unusual market. It introduced alternate Exchange Rates in the first quarter. We moved to seek at one, which is what the median market did. A few more moved to seek at two. 30th . Do it sometime or 30th . Ptember we signed a supply agreement in october with a local manufacturer to produce our second largest product in venezuela. They will start producing next year. Opportunitytes the to get see cad one. If you had done it in june, how much worse would your financials look . Cadf we had gone to see two in the first quarter, we wouldve had an 8 impact. 18 impact. Industry to the c
Good morning, it is tuesday here in new york city, youre watching Market Makers. Ever since kobe bryant got to have that Training Session with me the staples center, he realized that he was the future of business. We have a lot to talk about. We will begin the show with breaking news. Michael mckee has the headlines. It is good news for the real sixte or, a two point percent increase. This is much better than analysts had anticipated. This is an eightmonth high for housing and we see the number of homes for sale hold steady 5. 4 months. It looks like the existing site at least, we are doing much better, we will made for new home sales thursday. Thank you very much, that is Michael Mckee out in the newsroom with some positive economic data. Of course, it is time for the story of the day, the man himself, bill ackman. Right now, he is starting what he calls the biggest presentation of his investing career. That is a giant claim. The mother of all takedowns. Bill ackman says he will prese
French and russian governments lay out their 2015 budget. Moscow cuts Spending Plans as sanctions take their toll. Were on the ground in moscow and paris. Youre watching worldwide exchange, bringing you Business News from around the globe. And we just got the final reading of the eurozone september manufacturing pmi. It has come in at 50. 3. The previous month for august, it was 50. 7. It was forecast for september at 50. 5 but came in a at 50. 3, so slightly lower than expected. You can see the euro dollar has moved down. Also, five minutes ago, we got the german reading which came in at 49. 9, below expectations at 50. 3 and below where it came in for august at 50. 4. Again, slightly weaker than expected eurozone data, ahead of the crucial meeting for the ecb. In only a month, weve had two very strong days of positive gains in the stoxx 600 after the last season ended a month ago, yet the stoxx 600 ended the month broadly flat. Obviously, not much confidence there. Growing concerns a
What the latest earnings tell us about a big shift. A major blow this hour to obama care, an Appeals Court ruling that subsidies given to certain people in certain states under the Affordable Care act are illegal, out of bounds. What this means now for the Health Care Law and those who have signed up for it. And better than a bubble. Apple and microsoft after the bell, with earnings today. A number of major tech players trading at very lofty levels now which tech stocks are worth more now than they were at the height of the dotcom boom. Which are more richly priced . Were going to explore that this hour and form more. The knack dab is the biggest winner. We start uptown with seema mody. Hi, seema. Good afternoon, sue. A big day for tech. Take a look at the Top Performing tech stocks. The list may surprise you. Juniper Networks Tops the list, of course Elliott Management has been pushing for change at the company. Qualcomm also providing a lift. F5 net works reporting tomorrow, but repo