I am stephanie ruhle. Friday is here. Not just a bloomberg, everywhere. I hope you are paying attention , not the next two hours your christmas shopping. We will guide you through how and where to get the best stuff. The top business stories of the morning. U. S. Stocks may be taking a timeout. They have been going back and forth between red and green for the first half hour of the trading session after an extraordinary trading session that added more than 4 to the s p. , withp is up slightly numbers like that, it basically looks unchanged. It is a slight positive. Stocks in europe have turned down after being up earlier in the day. And blackberry comes up short in the struggling comes up short. The struggling smartphone maker posts revenue that fell well short of estimates, generated positive flow earlier than promised, but shares are down 9 . We will speak with blackberrys ceo john shannon at 11 30 a. M. Eastern john chen at 11 30 a. M. Eastern. This guy cannot get out of the headlin
And theres confidence in the banking business. Announcing plans to exit this year. Announcer youre watching Worldwide Exchange bringing you Business News from around the globe. Pretty tepid for equity markets. We went home thinking a deal would be done in the United States. U. S. Senate talks on a Government Shutdown may be stalling. Senate majority leader harry reid still sees a chance to break the impasse before thursday. He spoke with Mitch Mcconnell sunday saying talks were substantive. Reports now Say Senate Democrats say any debt deal not lock in further sequester budget talks which the gop wont accept. Congress will be in session today even though its a federal holiday. World leaders are urging a deal. Christi Christine Legarde is warning of the problems. If there is a lack of trust in the u. S. Signature, it would mean massive destruction the world over and we would be at risk of tipping yet again into recession. Yeah. Session here though on the trade for european equities were
Every piece of data we got was positive. The dow at one point down 123 points. Before we get a remarkable comeback from the lunch time swoon thats become a staple of the last four days of trading. The dow is down 24 points. And nasdaq advancing 0. 02 . We are still in a good news bad news mode until the last hour of trading. But we saw a glimpse of what could eventually happen when we started accepting good news for what it really is. Plain old unadulterated good news. Today eill tell you how we can rally to still higher prices. Although it might be too early for it to occur in a sustained fashion. But i dont want to tell you how we escaped from the box. One thats still keeping the majority of stocks from advancing until you know what kind of positive data im talking about. First, we got money from the National Payroll processor, showing improvement. Why do we care about the number . Because it comes two days before the most important economic data. The nonfarm payroll report and many
Business as usual elsewhere. The jobs report is playing out in this part of the world. Yes, that is another a another big one. A chance to react as far as the jobs report. 74,000 jobs added to the u. S. Economy for the month of december, well below the 200,000 estimate. What we saw was a drop in yields as far as government treasuries are concerned. Just about the lowest level in about a month for the u. S. 10 year as far as yields are concerned. Broadly speaking, this is what we are seeing in the equity markets this morning. Is really about dollar weakness which is seeping through to various degrees in the asiapacific. Once again, we see dollar weakness, asian currency strength and a lot of these out,ts as was pointed japan,he holiday in second week into the year and we have already seen for public days. Anyway, we will see how that pans out tomorrow. We are seeing the currency, the south korean won strengthening. We will see how that will impact the markets. On that note, back to you.
Brian with bank of america . Do you still see good positions or have stocks just moved too far sfp. Theyve moved a long way. They were very cheap five years ago. And redeck yulsly cheap. Thats been corrected. Theyre probably more or less fairly priced now. I mean, we dont find bargains around, but we dont think things are way overvalued, either. Were having a hard time finding things to buy. Well have more of ourcation with buffett and bank of americas Ceo Brian Moynihan in just a few minutes. Meantime, carl icahn singing a similar tune. He argued that the market is fairly valued, but still sees apple as a buying opportunity. I think that right mow the market is giving you a full picture. The market tells you youre doing well, but i dont think a lot of companies are doing that well. They are taking advantage of very low Interest Rates. So, obviously, you dont have to be a financial genius to understand if i can borrow at 3 or 4 and buy assets, maybe my own stock, thats yielding 9 or 10