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
Road map begins with records, records and more records the dow within striking distance of 29k for the first time. Plus hiring did cool in december but unemployment is at a 50year low and job gains extended for a record ten straight years, so whats it going to mean for the growth in 2020 plus these damning documents newly revealed boeing messages reveal efforts to manipulate 737 max regulators todays december payrolls number means 2. 1 million jobs were added last year, a slowdown from about 2. 7 million in 2018, coming in at 2. 9 year on year threemonth average, jim, 184 now and we got some milder visions down to october and november one of the things thats missing that makes this difficult for me is boeing boeing is such a big part of the gdp and i dont know which part, manufacturing little changed in december, how much that is boeing because everything has to be asterisked i think thats how big boeing is for the economy. It doesnt reflect this. I mean, youve got the wrong areas gett
It really makes it hard to get out of bed. But as you get through the day, were going to see some clearing, as we take a look at the low clouds and the fog to start. May also be misting and drizzling for a little while. Santa clara will have some temperatures dropping down to about 51 degrees and then by 8 00, were starting to see it all clear out. Heres a look at the current visibility around the bay area, some spots, down to zero. Were seeing that in the south county. And the north bay also has some really low visibility. So well talk about the fog and whats ahead for the weekend. Mike, this is also going to have a big impact for dryers. Definitely. Were looking at a foggy friday commute over here at the bay bridge, where i just saw one person patiently waiting because they were trying to use the lane thats closed. So they were allowed into these cash lanes. And its only a mild build here, but we have those low clouds in the fog there at the bay bridge. Not quite as dense on our road
Easy philadelphia victory, i decided to take on a number of twitter followers who insist that anyreality from these levels is entirely phony a move based on easy money from the Federal Reserve and a j gigantic budget deficit. Therefore they say its all false. It has to end badly. I read all these thoughtful 280 character or less arguments, and they all have one thing in common they hate the market see this as a gigantic house of cards thats waiting to collapse the dow lost 92, well, some of it, the s p shed 0. 5 . Theres one huge problem with this world view, history look at this, i got in this business in the fall of 1981 with the s p trading at 120. 120. Its now at 2,938. The dow, the dow was at 85 6. Its now at 26,478 if this isnt dispositive, i dont know what is i dont know if youre a short seller it seems unfair that there could be a moment where the feds propping things up and theres a gigantic budget deficit, perhaps with a liquidity bubble, but thats just not how it works peopl
Off. Halftime report starts right now. Welcome. Good to have you with us today on this friday joe taranova and josh brown and the chief Investment Officer at boston prime wealth. Stocks are on pace for their worst week in a couple months and significantly higher this hour after the jobs number came in slightly lower than expectations and not as bad as feared josh brown, you told us we were due for a bounce and i guess we are getting it today nice reversal yesterday, too, by the way. Look, you look at when you get that oversold on the components of the s p. Yesterday pointed out only 8 of s p names were above their tenday moving average that is an extreme negative down turn for the market and everything that is washed out. Historically weve been able to bounce from that degree of oversold across the market the other thing is that a lot of the concerns from earlier in the week have been invalidated and the jobs report is just the latest example of that so, we get really negative on a dat