Records, tax reform and that surprise special election result in alabama. Plus a little more clarity and an update on disney and fox. We are less than 24 hours from the announcement of that deal. Apples billion dollar fund finds another investment fin asar surgeries on the news as apple builds on lasers and specialized chips. The fed is expected to raise Interest Rates again today as it concludes its twoday meeting. If so, it would be the third rate hike of the year. Then this afternoon the president is said to deliver remarks on tax reform as happens trying to put the final tuchoucs on the bill. The president is going to have lunch with some members of the Conference Committee it looks like theyre trying to meld the two by from the, get it to his desk by the 20th. Maybe corporate rate to 21, some compromise on mortgage interest deductibility. I think its interesting also just in terms of what would pass versus not if you had democrats. A cut of 37 in the top tax rate for individuals,
Business less likely to expand yet, thats what happened today. Dow gaining 81 points. S p tipping. 0. 5 . After the fed gave us its long expected quarterpoint rate hike so the answer is, yes, but yes for a reason the departing fed chief has followed the footsteps of her predecessor telegraphing her actions months ahead of time her transparency which i hope will continue under incoming chairman jay powell is the reason why the market didnt get slugged when we got the hike now, there is a whole generation of investors out there who dont know the way these fed meetings used to be back in the day when they were edge of your seat occasions. Everything was cloaked in secrecy. We never knew what they were going to do. Never had anybody to figure out why they did it beyond the boilerplate statement that was g gobbledygo gobbledygook why does the market or dow seem to like this, enjoy a rate hike . A couple of reasons. First not so much that we like it, as that investors realize rates cant stay
Mortgage applications. Old news. Trade balance is ancient news. It is not employment news. You go. Janet yellen is not paying that much attention. Hey, she is watching everything. [laughter] she has the star trek enterprise of dashboards. We call that the bloomberg terminal. Continue. We have time warner in the next hour. Chesapeake and aol. Cody for century fox. 21st century fox. What a shock that was yesterday. Wow. Topic at be a major bloomberg surveillance. We look at the transactions of media. Lets look at the transaction, which is your data check. Weight to the screen here. We will talk about that. The euro was weaker. On to the next screen. The vix shows some of the tension. The ruble is a big deal this morning. Over 36. L out. 105. Is under brendan, help me here. You spend a lot of time in brussels. What is nato going to do . Something interesting. More and more people pay attention, the foreign minister of poland, he is the one willing say that european leaders things that mak
Unbelievable whether it is mna, the fed cracking down again on the biggest banks in america. The list goes on. Time for the top business stories from around the world. Walgreens joining those who up agreed to by Companies Overseas this summer. The drugstore chain says it will not move his headquarters from illinois when it requires acquires the group. It may take action to limit use of the socalled tax aversion. Time warner has news of its own. The day after Rupert Murdoch said it is dropping a takeover posted earnings that beat estimates. Time warner says it will buy back 5 billion of shares. Shares are down about 10 in early trading. As shakeup at the countrys third biggest wireless carrier. Sprint replacing dan hesse he with the founder of mobile phone distributor bright star. Ending the pursuit of rival tmobile after concluding a deal would be unlikely to survive an antitrust challenge. Copsere are a lot of policing wall street these days. The new York Attorney general, state super
The second american infected with ebola back in the United States. Nancy writebol admitted to Emory University hospital in atlanta. Hawaii is preparing for a rare double threat. Hurricane iselle could make land tomorrow and right behind that is hurricane julio. A dangerous landslide sent residents rushing to safety. An insider attack at a military Training Center in afghanistan killed an american general, Harold Greene the highest ranking american officer to be killed in combat since vietnam. United Airlines Flight from newark to brussels was forced to make an Emergency Landing after fire broke out in a gallie. Chaos after two tour buses crashed in times square. 14 people were injured. Everybody was running. Everybody was running for cover. A woman described as a cereal stowaway was able to get past security and able to board a southwest flight to l. A. X. Researchers took a new underwater vehicle to an island off mexico. The hunter became the hunted. Ouch. All that the man really didn