The major averages finished the day at alltime highs thanks to Quarterly Results from some retailers which brightened the mood and which well get to in a moment. There were also incremental developments and u. S. China trade talks that investored interpreted as positive. Though as you know that changes from day to day. Here are closing numbers. The Dow Jones Industrial average 55 to 28121. The nasdaq gained 15. And the s p added 6. Now to this new report on the makers of opioids. According to a walgds a criminal investigation has been opened that role drug manufacturers and distributors played in fueling the countrys opioid crisis. The news sending shares of teva mallinkrodt and Amerisource Bergen sharply lower. Dow dpoenant Johnson Johnson down a Penney Meg Tyrell has thor to. T company are facing thousands of lawsuit over the role in the opioid crisis. Today another negative headline. The drug makesers and distributors disclosed receiving subpoenas from the u. S. Attorneys. That John
Pressures for boeing, downgrades at Credit Suisse and ubs renewed congressional scrutiny, shares tumbling 10 on the past week. Opioids on trial in ohio for Drug Companies reaching a last minute settlement ahead of a landmark First Federal opioid case. And Mark Zuckerberg speaking out, why the facebook ceo tells nbc news it is more important to be understood than it is to be liked. Shares of boeing under pressure, having its worst day in more than 2 1 2 years, losing almost 7 friday. As we said, Credit Suisse and ubs cut the stock to neutral from buy today boeing under scrutiny following the revelations of the emails from 2016, which called into question the safety of the 737 max jets Flight Control system. The board met over the weekend, expressed regret over the message, continuing to investigate. Dennis muilenburg is scheduled to testify at house transportation next week reuters suggested this Board Meeting in texas may consider things like job cuts and some other kinds of trimmings
To a weaker dollar and higher yields across the globe. Time now for global exchange. We are going to bring you todays market moving news from all around the world. Our bloomberg voices are on the ground with this mornings top stories. We want to start with the breaking news in the u. K. The pound is strengthening against the dollar on brexit optimism. Francine lacqua is live at westminster. Give us the lay of the land as we start trading this morning. Francine i have to say, you are absolutely right. You have to look at the currency. Theres this renewed optimism after a lot of ministers say they will be able to pass this first, we dont know whether Boris Johnson will be eight able to push his deal once again through a vote in parliament. Cow in the past has said no because this is the same deal. We could have various moments forcing the Prime Minister to ask for a referendum or forcing the u. K. To stay in the customs union. If it gets amended, word on the ground is that the Prime Mini
Terrain and uphill area right near those hem east homes. Were going to keep a close eye on this throughout the broadcast and the day. Back here in the bay area as we look outside. Temperatures are warming up this week. That is why pg e is monitoring the weather and fire danger. Within the past 30mis partof soa o may affe shutoelisting sure things move better in the future. So that is going to include increasing the capacity for our websites and for our call cen terks. We want to makesurethat were s vulnerable customers and we want to narrow the scope of a Public Safety power shut off. Pg e activated their Emergency Operation centers in San Francisco last night because of this to keep tabs on the conditions. Reporter were going to see major changes this week. The first noticeable one are the clear skies and warmer temperatures that are going to a company that. Looking out, hardly a cloud in the sky. Visibility is great, but were going to get pretty warm. Currently were at 78 in concord.
Sources telling Cnbc Softbank is coming to the rescue and will take control of the company. Josh lipton has all the details. Melissa, thats right a new dramatic twist in wework story here cnbc is now reporting that softbank is in advanced talks to take control of wework, thats what sources are telling cnbcs own david faber, a deal could be announced as soon as tomorrow. It is softbank led by japanese billionaire masasan taking control here, after the move softbank would control nearly 80 of wework, prior to the takeover, softbank already invested nearly 11 billion in the company. Softbank economic marcello clarette will be involved in the companys management, former ceo adam newmans stake will fall to low double digits. Last month wework terminated plans to go public the prospectus revealed a huge 900 million loss in the First Six Months of 2019 Corporate Governance practices also causing concern thank you, josh lipton in San Francisco with the latest on wework talk about a down round