Minute right now what we really want to do is talk about the hp xerox. Did we move that up well talk about that now because hp board unanimously rejected that bid from xerox to take over that company its weird it was like a reverse pacman a much Smaller Company buying a much bigger one. 22 a share is not in the best interest of its shareholders and undervalue hp. Letter to xerox ceo they sited the potential impact of outsized debt levels at the combined companys stock. They left the door open with the possibility of acquiring xerox. Looks like it would be a good deal but well take over you it was strange either way combined company same debt . Potentially it was odd when i was reading through the letters. Xerox saying they lined up what they thought could be financing that citi group could eventually get for them that seem like a couple stretches. We havent got the highly confident letter from the drexel days from citi on that. In the meantime, new this morning, fedex ceo fred smith is
President donald trump called it a substantial phase one agreement but any talk of a truce of the trade war is pretty wide of the mog washington hasnt removed any tariffs and got a little relief for its famous beijing got crucial access to pork after its pig farmers were decimated by swine flu substantive issues still remain and theres an ongoing economic war in all but name washington slams 28. 00 Chinese Tech Companies with sanctions for their part in the repression of weaker muslims meantime beijing is using access to the Chinese Market as a weapon against those who criticize its policies and handling of hong kong protests the n. B. A. Was the latest to step into the chinese quagmire as a serious rob matheson reports from beijing. He sees one of the fastest ways for u. S. Basketball to risk losing billions of dollars of Chinese Investment has been a 7 word tweet double money general manager of the Houston Rockets n. B. A. Team voiced his support for hong kong protesters now Chinese
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, because it is the trade war the bond market is sparking fear of a recession. That is a new situation. It is scary for us. There arermakers says provisions for brexit as Boris Johnson has to brussels following another defeat in parliament. Ppi bites. A late surge in insurance claims putting pressure on a promise of a buyback. Good morning, everybody. Welcome to the European Market open. This is what things look like in terms of the futures picture. Down attempt of a percent on the dax. If you are looking at u. S. Futures, we see downside. We have been asking this morning how much further can we rally on global stocks . Rally onfurther can we optimism around trade given we dont see any new developments . Progress is being made, perhaps we need another newsline to mo us from that. Suck about whats going on in the asian equity session. This is the gmm section function on the blue bird. A mixed picture for the asian markets. Quite a diversion performance coming through. South korean marke
It is wednesday, it is july 3rd. Fbn a. M. Starts right now. You cant break. Every day is hard. Cheryl welcome, everybody, to fbn a. M. And good morning. Im cheryl casone. Lauren that was a beautiful song. It is a beautiful wednesday morning. Good morning to you at home. Im lauren simonetti. Cheryl lets take a look at how your money is moving on this wednesday. As you can see, futures are higher right four now, dow up 5, nasdaq up 27 and a quarter. Lauren its a short day and a short trading week. We have a flight to safety seen in the movement in the freshly market. The treasury market. The 10 year yield, 1. 95 . Cheryl investors will be keeping an eye on a couple things for the remainder of the week. Well get jobless claims and manufacturing numbers today and friday is the big june jobs report. Lauren oil prices plunged about 5 yesterday as tensions with iran continue. We are seeing a small increase of 37cents, a 56. 62 a barrel. Cheryl taking a look at asia, were continuing to follow