Negatively. The dow opened lower, the nasdaq lower by 6. We had a multibillion dollar deal. Teva acquiring allergan. We should tell you that teva is officially withdrawing its off for mylan. You may have remembered they made that offer as a hostile offer. It was not morninging. Mylan which located outside of the u. S. Became a bizarre beneficiary of moving outside because of the way the governments rules work abroad were they relocated it made it much more difficult for teva to pursue a deal. How do you think the mylan shareholders feel about the big fight . How do they feel this morning . In the immediate case i think that they cant be thrilled. Longterm, mylans ceo has made the argument and i actually buy it that theres more value to them reinvesting by reinvesting and being independent. So well see what happens there. Can i ask a really important question . Yes. Friends of mine would like to know. Does this get us any closer to a botox thats what friends would like to know . I have
Im Brian Sullivan and power lunch begins right now. Welcome to power lunch. Im melissa lee. Stocks are Holding Steady right now, struggling to hold on to gains. The ruffle 2,000 hit another record intraday high s p, reversing yesterdays big losses financials are lagging today check out some of the movers were watching disney is lower. The Company Testing a revamp of its retail store format for the first since 2010 as well as launching a new shopping website today. And red hat shares are rallying. The company raising earnings estimates and its outlook. Darden taking a hit, expecting the hit from Hurricane Irma to be about double that of Hurricane Harvey brian . Mel, thank you very much. We begin today with fed chair janet yellen speaking in front of economists in cleveland, ohio we will go to that event live once she begins taking questions. Steve liesman, though, is here with highlights from Janet Yellens speech. An important speech fed chair janet yellen going further than she has in
Is if if the president of the United States continues to call in aides and instruct them or give them leave to go out and make comments and starts exciting inconsistent with what the policy is of the administration or changing it, i think that the general is going to have to do this hes going to have to tell the president , look, mr. President , if youre going to tweet, let us know beforehand and let us take a look at it, if you will, and also folks coming into your office, when they come out of your office, if you call them in, instruct them that they will have to come by me and inform me whats been said, and hes going to have to structure this thing. I dont know whether thats going to work, but i do know that those below the general, given what he did today, i think will have gotten the message, and i think hes certainly got the possibility of imposing a new sense of discipline and order on the staff below him but were dealing with the president of the United States i mean, thats one
Hell tell you how hes playing it. To the story that captivated main street and everybody desk on wall Street Communications director Anthony Scaramucci, aca the mooch, was out after ten days on the job. Short, eventful stint that saw memorable debut press conference followed by a bombshell. New yorker profanitylaced interview. The resignation as Reince Priebus as chief of staff. A divorce in the tabloids. And ended today with President Trump removing him as Communications Director. First, we go down to kayla toush she in d. C. Whos got all the details. Reporter Anthony Scaramuccis resignation less than two weeks after announced as white house Communications Director makes him the shorter serving staffer in that role ever but in that short period of time, he fired a press associate for alleged leaks, provoked the resignation of Reince Priebus, the chief of staff as you mentioned, and engaged in an on the record back and forth with a reporter that got published. That led to his removal t
Highs, alltime highs. When you allocate what is the trump related rally and whats not the trump related rally, you have to look at it as a percentage. I look at the move. If i look at what led today, health care led, materials led. When you look at 80 of that movement, if you take out 80 of that move, we trade down to the 200day moving average. Do you think thats going to happen . Not judging how this market is bought. I think were missing something. And ill say im missing something. This market is bought. Time and time again. In the face of what it should be sold. So i dont understand it. Last week they had every reason, and every time to sell it, and they didnt do it. Today it bounced technically off a round of a 50day moving average. I think people are flying blind. Ultimately theyre buying. I think the loss of leadership of the bank stocks is really troubling. I think the fact on the first down day last tuesday when the market was down 1. 2 or so. Over 105 days or Something Like th