First day. Different story for valeant. The pharma giant taking it on the chin on a report by a short seller. Western digital buying sandisk. The tech stocks that could be next on the chopping block for the next to be acquired. And scott wapner just talked with carl icahn. Hes taking his activism to a whole new level and realm targeting Corporate Tax reform. But we begin with the red hot ipo of the day, shares of ferrari are revving higher on their first day of trading. A bit of a rally in stocks overall. Were sitting at 12,290 but just earlier today we cracked above that 17,300 mark for First Time Since the august flash crash. It seems like were tracking for the best percentage gains since october of 2011 for the dow and the s p, bob. S p is up 6 for the month. A little bit of a stealth rally. Really tina there, is no alternative, no other places to put your money right now. I want to start with the ferrari ipo. 48 to 52 was the price talk. It priced at the top at 52. It opened at 60.
It has gone 6 00 a. M. We have got so much to get through. We have janet yellen and we will bring you conversations around those topics during the show but lets start with something that is happening in the markets in that is of movement on the oil story. This goes back three days and shows you the drop we saw in yesterdays session toward the end of the session. Now the bounds were seeing in oil futures this morning, it is an interesting one. It hinges on report by Energy Intelligence suggesting the saudis might propose an eventual cut in oil output. It might be eventual because it might not kick in until 2016 and it might be contingent on support from nonopec countries. Oil has dropped on reports from iran and iranian agencies suggesting there was division among opec as there often is with what to do with oil output. We will continue to watch what is happening with oil and bring you the latest about central banking. Thell eyes will be on European Central bank. Mario draghi is expected
Of these winners that we now affectionately refer to as the fang stocks . Two Money Managers go head to head, one still likes and the other one says maybe time to look elsewhere. Two emerging market currencies that could have major implications for the boarder market. Why everybody should be watching them, ahead on closing bell. Lets start with this friday selloff, bob pisani on the floor here at the exchange. The bottoline is we are not getting any bounce at all. We opened we gapped down more than 20 points on the s p 500 and essentially we have been sitting at the lows all day. There have been really no significant attempts to rally and every time we have hit a lower low weve seen a little spike in volume. Five to one, seven to one, somewhere around there declining to advancing stocks, notably weak of course oil and oil stocks under new lows here, right across the board, apache, big company down 6 , here is exxon, the majors arent down nearly as much, down about 1 . Defensive names a
Resources. Roughly 500 stocks have fallen this month. Volatility has risen this month. Europes big fear gauge has risen by 26 in january. The most since august. Whenever surpassed the levels we saw in august when china devalued the yuan. It was about bonds. Bond yields falling to record lows. Look at the twoyear portion of the curve. Record lows in france, belgium, holland and germany. All negative. U. K. Twoyear debt has had its best year since 2009. Back in 2009 the bank of england was buying debt. The bank of england buying debt. I asked simon smith how soon it could be the for the bank of england buys that again. Lets check some hardwoods at him. Betty i like what you say about crafty what is your name for druggie . Draghi . Super mario. Mark we cant get away from that one. Super mario might be chuffed about the inflation. Yes its an improvement on the previous month. It was the biggest increase since october 2014. Lets bring it into the equation. He admits that last week inflation
The hunt for more than 30 missing hikers a suspended. Plus on the program, aaron joins us looking at the market and business reaction to those protests in hong kong, aaron. It has the sixthlargest stock market in the world, the second largest in asia and certainly one of the biggest hubs for foreign exchange. So far these protests have shut down banks and the hong kong stock market has fallen. So were going to take a look at how this city can keep its status as one of the top Global Financial centers. Its midday here in london, 7 00 a. M. In washington, and 7 00 p. M. In hong kong, where prodemocracy protesters are digging their heels in and refusing to be moved. Theyre rallying against plans by beijing to vet candidates for hong kongs 2017 leadership elections. Thousands now are fanned out across the city, choking the streets and shutting down crucial business hubs. We understand about 3,000 people have blocked a major road as a thousand people faced off against police in the busy sho