Smaller rate than in perceiving years. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. Julie i am julie hyman. Joe i am joe weisenthal. Oliver im oliver renick. Are fallingstocks the most in two weeks. Energy, materials, weighing on the is hundred the s p 500. Joe the question is what did you miss . The big moves are in currency and crude. Dropping the highest level in more than a decade. Bill films the phones may push the studio for 2017. Yet another stumble in the rebirth of the Nuclear Power industry. We are looking at the clients for the u. S. Major averages heading to the close. ,he nasdaq all trading lower trading more than 100 points at this point, putting down 20000 and record highs out of mind. This is the second worse selloff in u. S. Stocks since the elections. On the intraday basis, looking at an intraday chart of the s p 500, we see the end the index opened higher and steadily lower as the day has
Inauguration late last week. Im very proud of that. Very proud of that. The Business Community and the labor community, you saw that with the labor leaders that came out. One said it was the single greatest meeting i ever had with anybody. Its the highlight of my life. The dow on top of it just hit 20, first time in history. Im very proud of that. Now we have to go up, up, up. We dont want it to stay there. Vice president mike pence tweeting the dow closes above 20,000 for the first time in history. U. S. Economy is being unleashed under President Trump. Lets get you caught up on whats going on. We have a 30 billion pharma deal. Johnson johnson buying actelion for 280 per share in cash after weeks of exclusive talks. We talked about this transaction before. A 23 premium to its Closing Price yesterday. Both companys boards have aprefapref approved that deal. Today is the busiest day of earnings season, 38 companies in the s p 500 reporting results along with three dow components. Before
The sun is in talks to take control of Mitsubishi Motors nissan is in talks to take control of Mitsubishi Motors. Looking at the share price, it is down 1 but there is no indication it is really moving given that volume is not really heavy. 14000 and 104 shares. Is the share price of nissan pus american depository receipts. Americansans depository receipts. We will continue to monitor this as the news continues but we want to get more from Ramy Inocencio. Ramy taking a look at the major markets and how things are react in, not much here in terms of those headlights headlines. Across the board, we are in the red, the dow is down the most by about two thirds of 1 . This is off the back of what happen yesterday when we saw the best game in the markets in the past two months. Today, corporate earnings is one of the big ways. 90 of the s p equities have reported and in terms of earnings growth, it is actually negative on that sense, down 8. 7 year on year. Ratel concerns are another. I want
The economy is slowing ahead of the referendum. The bank of england has a tricky judgment call. It cant go too far out there politically and say what the economy would do if we were to vote against staying in the eu but it is clear the economy is slowing. The assumption is that the economy will pick up the growth it lost in the Second Quarter if the u. K. Votes to stay in the eu. Lots of headlines here. They are rate increases, are more likely than not. It may cause the pound to drop sharply. It sees inflation dropping. That is very important because as inflation is forecast to rise, the bank of england is telling us, rates are going to be raised in the forecast. In the 23year horizon. Investors will depend a lot on what happens in the upcoming referendum. The big take away is that yes, the bank of england has cut the gdp forecast for this year but it is not a big surprise. The economy is slowing and the back. Ata is there is a slowdown in construction and manufacturing. The conference
We talked about the debates on the markets. Lets go straight to the market desk where matt miller has the latest. Matt we are a half hour in and down across the board. Check out the major indexes, a little half percent of the dow jones, more than 100 points the drop. Yesterday we had the best performance from the major equity indexes in two months. This is a little bit of a reverse bound. 2075. Wn 0. 4 , if you look at the map, and i have it in the bloomberg terminal, you can see nine out of 10 Industry Groups are down right now. The only gainer and really unchanged, consumer mark it is on my touchscreen actually. Matt bismarck talking to me . Turn off your microphone. Consumer discretionary, the biggest losers. Let me tell you what happened at disney. Disney mr. Earnings for the first time in missed earnings for the first time in five years, the first in 20 quarters. Earnings down, real concern about retailers, espn earnings and revenue. Actually espn earnings up a little bit because