Modest growth as new initiatives in mobile and other areas kick in. The stock went slightly crazy, got a huge boost after alibaba rolled its results. Forget what is happening at yahoo at this point. Its almost insignificant at this point. Yahoo owns 24 of the chinese ecommerce alibaba. They made more than double the amount they made for the same period a year ago. Revenue jumping 66 to 3. 1 billion. Alibaba plans to file paperwork as early as next week, thats what everyone is excited about, about this potential ipo offering on an american exchange. They are debating whether theyll go with the nasdaq or the new york stock exchange. The sale could be the largest ipo in American History if the companys valuation could reach, what some people are saying could be as high as 200 billion. Jerry yang of yahoo always gets a hard time because he is he the one that made this investment. People thought he screwed yahoo up forever. God bless jerry yang. He saved this company. Marissa meyer should t
And inflation as it considers next step and on those the beige book says, quote, employment levels improved gradually for most districts while price pressures remain subdued except for energy costs and costs of construction products. Melissa, back to you. Peter barnes, thanks so much. Well see how the market is reacting. James is on the floor of cme of the are you seeing any movement . Market is coming back a little bit. We were down 40. Now were down about 30. This is very, very muted reaction here. The market is ticking into positive territory. Spent most of the day in a very, very tight range. S p futures are trading in a range of around 1870 to 1875. This isnt going break us out of this range. Were up on the day but seeing bad data we had this morning but didnt see all the weak money yesterday that got washed out this morning. I think there is bid in the market around 1870 level and i think well probably close the day high ier. Melissa james, thank you very much. Google capital a f