Welcome to power lunch, im contessa brewer. Another strong day for stocks as all three indices look for a winding streak the dow is up about 143 points, a slight pullback from where we were a half hour ago both the s p and nasdaq are on pace in more than six years and both indices up 5 health care the best performing sector today johnson johnson, pfizer, eli lilly among the big gainers. A couple beatendown names moving higher, ge back above 15 a share despite being hit with a shareholder lawsuit and snap is now up 50 so far in february. Three hours left in what has been a huge week for stocks. Bertha coombs is at the New York Stock Exchange bertha it has been quite a big week. Its been two weeks since we had that downturn starts and after consuming a lot of rocky road ice cream, today it feels like vanilla. If you look at the major averages in terms of where they are from their highs back at the end of january, the nasdaq here within 3 of its all time high in january as weve seen a big
Facebook falls, users are spending 50 million hours a day lesson the social network and happy about it shares set to open at the record. Its a huge day for tech earnings, mike soeflft, alphabet and amazon, all on tap after the bell. Futures signal a sharply lower open obviously a whipsaw week so far. Facebook is the top story. Up in the premarket, the social network post better than expected forecasts and increase in ad sales despite the time spent by Users Falling by 50 million hours a day. Mark zuckerberg last night on the earnings call. The most important driver of our business has never been time spent by itself. Its the quality of the connection and thats why i believe this focus on meaningful social interaction is the right one. The first ever quarter on quarter dau decline in the u. S. And canada they say its not a trend. They say its not a trend i think youve got to believe. The market probably doesnt believe in them because this thing is selling at a multiple almost the market
This is the stoxx 600. We see a little bit of pressure, down from 0. 6 . We saw a mixed session in asia trading. And we have this pressure on bond yields. Around the world. This served the boj into action to keep rates from getting out of whack. We have a good interview from our tim ross yesterday. 223. E, 1. 4 coming up on bloomberg surveillance, the speakers to the chief Financial Officer as the danish lender unveils a 1. 7 billion buyback plan. A little later, its the brexit show. We areb ack on were back on track and we discussed trade. We also discuss jobs and growth with roubini. The bank of japan has announced the first unlimited fixedrate bond purchase operation since july, seeking to assert control over the nations yield. The central bank offered to purchase 10 year notes over a fixed rate of 0. 1 and expanded purchases at the regular operation for the second time this week. The boj target for the 10 year yield is around 0 . Lester they offered to purchase an unlimited amount
To buy the company for about 30 billion. Down es of shire lets move on to oil and gold today. All in the green. Nymex crude up 1. 8 at 4602 46. 02. Betty a check on how the bond markets are trading right now. Treasuries are falling on speculation that inflation will rise toward the fifth 2 target. Feds 2 target. Puerto rican bonds taking a dive. That is year to date, down 11 . Meanwhile, in the currency markets which have seen their own fall off, the dollar is falling from a fourmonth high. It is still stronger than most of its major peers. Lets get a look at the top stories at this hour. Shire making an offer to buy x axalta. For 30 billion in shares. 36 represent a premium of and valleys the stock at 45 per share. There is no deal on the horizon right now. Alta has failed to engage in substantive discussions. The company agreed today to buy ipc health care the all caps deal is worth 1. 6 billion. It were presents a premium of 30 percent 37 over the close yesterday. Ability toand its
Josh, you said, we talked about this yesterday. Its at 84, up more than a 4 1 3 . When a mega cap name like a wart has a gap up open like this it doesnt slow down so easily. Think about the sheer amount of buying that it takes to get a stock like this of this size to do Something Like a 4. 3 gap and roll and again, this is a high we havent seen in this name since march of 2015. Thats 2 1 2 years of consolidation. Heres the president today meeting with Henry Kissinger at the white house moments ago. If you look over the last 25 years through numerous administrations, we were on a path to well get that tape squared away. The president does have a busy day meeting with Henry Kissinger at the white house. Hes lunching as well with secretaries tillerson and mattis, which should be interesting just given the back and forth over the last many days about mr. Tillersons future. The president also sparring lately with senator bob corker, once again this morning on twitter. So well be following a