Thought you liked to crochet, tyler. Welcome to power lunch. Im mellissa lee. Mylan says profits are 60 higher than it told Congress Last week. Well have more on that. New home sales falling in august, that drop coming in below expectations. And stocks continue to slide as we head deeper into the trading day. Look at this, dow, nasdaq, s p all in the red. Major move higher in the price of oil. Michelle . Im Michelle Carusocabrera live at Hofstra University in long island. As tyler mentioned, were less than eight hours away from the biggest event of the political season so far. The first president ial debate with the latest polls showing a dead heat between Hillary Clinton and donald trump. What happens tonight could be a total game changer in the race for the white house. Lets bring in cnbcs chief washington correspondent john harwood. Lots of expectations for tonight. What do the candidates have to do to win . Lots of expectations, big event tonight. What does history tell us about ho
Minutes, the dow up almost 200 points. The s p 500 gaining two and higher for the week. It was a bit of a tossup which way we would end but it does look like its a positive number for the week. If this was the dows best day since september 12 and within the different sectors looking at financial and energy, those two groups leading the gains in the s p 500. It wasnt a bad week in terms of volume. You had an average of 10 billion shares. Im going to jump into what happened specifically in the stock market today, looking at a couple sectors that were the winners and losers. We will start with the losers. There was only one group down, and that was the Utilities Group trait i thought it was interesting because if you look below, the staples still gained 94 basis points. A bit of a diverging story in terms of the higheryielding stock. Utilities there are much more projected to the yield play. That is interesting. The Energy Companies doing pretty well, this has been a big part of the marke
Sanctions against wells fargo. Well have that story plus reaction from former fdic chair sheila bair. Well get to her in just a moment. Plus a new report says amazon is getting more serious about its own shipping business and it may be looking to ditch fedex and ups altogether. This as amazon stock continues to power higher. More on that story coming up a little bit later this hour. And shareholders voting today to approve one of the largest corporate deals in history. Well take a closer look at Anheuser Buschs takeover of sb miller. Is that enough . We have more in the next couple hours. Lets begin on the breaking news of the oil front that has moved the market today. Jackie d. Has it for us. The spike in crude oil putting some traders off guard today. Closing today over 47 a barrel. Now, three major headlines coming out of reuters regarding the opec meeting, but remember, theyre citing sources. Nobody officially has gone on the record here. You mention there is potentially a deal to
Three hours left in the trading session. The dow is down fractionally, 57 points down. 3m, verizon and chevron are your laggards. A couple of dow stocks are up, however, there is one massive move out there. Not in stocks. It is in gold. Gold is trading at a threemonth low, it is down 35 an ounce. As you might imagine, gold miners also getting wha inting they are deep in the red at this hour. Google unveiling a new phone at a product event under way in San Francisco. Google says the new phone costs 649 and has unlimited storage. Delta posted a smaller than expected drop in passenger unit revenues for the month of september. And sears popping within just the past two hours on reports that bids for the companys draftsman unit due by the end of this month. If you are a retailer or a shopper, this may be the most important number in the show. 81 shopping days left until christmas. A new report by the National Retail federation telling us that santa claus is coming to town this year. Courtne
Influential financial actors remark on insight into a local global bloomberg summit. I think it is tragic that we have taken rates down this far. I have not seen bubble prices in most assets. The pressure is great on everybody. And ultimately, youve got to produce. Scarlet its all straight ahead on bloomberg best. Scarlet hello and welcome. Im scarlet fu. This is bloomberg best, your weekly review of the most important Business News, analysis, and interviews from Bloomberg Television around the world. Lets start with a day by day look at the top headlines. The week began with reports from germany that created considerable worry for investors in one of the Worlds Largest investment banks. Deutsche bank shares dropping to a record low in germany today amid further concerns about its financial stability, whether the government will save the bank if needed. For how long can the government distance itself from Deutsche Bank . Well, so, its a very complicated position, because we have an ele