Economy some more and the dow will hit, wait for it, 32,000 this year. Thats optimism. Were at 29,000 right now. Then theres this, the New York Times issues its endorsement for the democrats nominee. The times is the bible of the Democrat Party and they split their decision. Theyve endorsed Amy Klobuchar and Elizabeth Warren. This is fascinating. Not biden, not bernie, not the former mayor of new york, bloomberg, no, left and far left is the times choice. Later today, the president flies off to the global elite get together known as davos. Picture this, please, the president fresh off trade wins and a growing prosperous economy, addressing over there while the trump haters over here try to impeach him. Im not keen on the expression but you cant make it up. Varney company the tenth Anniversary Edition is about to begin. Stuart watch out. Situation, step aside. I dont have tattoos and i wear a baseball cap the right way around but im going to fit right in, google. Weather, new york today
S p indicated down about 4. 5 looks like the 10year is yielding below 1. 6 . 1. 549 well talk about what china did. Loan rates there dropping as the company tries to take on the impact of the coronavirus. Lets get an update now on the coronavirus. The people on the ship, a couple of people did die from the coronavirus. China as we heard cutting its benchmark lending rate that was expected. Authorities looking to boost the market unfortunately, two passengers from the diamond princess cruise have died. The first reported deaths in connection with the ship which was quarantined off the coast of japan nearly two weeks china is again, changing the criteria of confirmed cases adding confusion to tracking going up or down and whether weve seen a peak or close to a peak l brands reportedly selling shares of victorias sek receipt valuing that brand just over 1 billion. This had been expected that theyd pay for it. L brands chairman and ceo will step down as part of the deal but remain on the b
Deal reshaping the storied Investment Bank, Morgan Stanley Ceo James Gorman will join us in the next hour. A mega merger, increases the projection of expenses saved and the guidance which well get into, as well. Giving up control of victorias secret selling a 55 stake to siycamore and stepping down. Well start with the deal of the day. Morgan stanley agreeing to acquire etrade valued at 13 billion. 58. 74 a share three months after schwab and Td Ameritrade announced a merger deal a lot of discussion of why not robin hood an enwhat it means for the sort of the framing of their Wealth Management business, jim. It is kind of amazing about 5 million accounts, maybe more robin hood with 10 million accounts in no time they were land speed record for accounts their success is driving everything they have the millennials. They have a different orientation. They have the easiest site to use. All hand held. Theyre racking up customers i have had robin on a couple times. Theyre the biggest threat
Short bet. Traders take their positions fast money Halftime Report starts right now all right welcome. Big show today our Investment Committee is here joe, stephanie, josh brown lets begin with the markets those comments from paul jones, what he told cnbc in daf as about what he calls the explosion driving markets. We are just again in the crazies craziest monetary mix in history. Its explosive it defies imagination. And i dont think anything is changed. It reminds me a lot of early 99. So early 99 we had 1. 6 pce 2. 3 cpi we had ex act same metrics today. Thats out in davos josh brown, turn to you. Answer the question. Time to worry or party like its 99 i think most investors are doing a little bit of both the data does not show that any segment of investors, whether talking about institutions, hedge funds, retail, Family Office foundation, there is nobody out there right now acting in word or indeed as though its 1999 you just dont see that form of euphoria out there in the market do
And mine the gap sales are surging this morning and twitters jack dorsey soliciting advice to help improve the network. All that and more as Worldwide Exchange begins right now welcome to the show. Stock futures are higher this morning in deeper territory. The dow is up another 63 points. The 10year slightly higher 1. 555 lets go worldwide if you dont like the color green, turn your eyes away the major indices in asia, green across the board paced by the hang seng in honk con up by 1. 5 in europe, youll see more green there. Only turkey and greece are red the cac in france pacing france up by about 1 well look to other top stories this morning with rahel. Chinas economy last year grew at the slowest pace in 29 years. The worlds second largest Economy Group at 6. 1 revealing a country under pressure from trade. Weak Consumer Spending and follows the read of 6. 6 from the same time period a year ago. New investors interest this morning. Shanghaibased private equity firm held talks over w