Partially made up for todays bullish session. The dow gained 76. S p jumped 0. 72 . And the nasdaq too. We have to ask ourselves what could get us to make up the rest of the lost ground . I think first we need to analyze the proximate causes behind the decline. There are a lot of competing explanations out there. We have to get to the bottom of this. Many people are blaming this selloff on the fed. I need to disagree here. The fed stayed the course at this meeting they had, didnt do anything different from what anybody expected. A predictable event. That went off without a hitch. Dozen cause a 2 decline. Plus, its not like the closely watched ten year treasury jumped on last weeks fed meeting. It was basically wall street speak for unchanged. Sure, you can argue that the employment number on friday was pretty strong. It doesnt help. It doesnt illuminate anything. So many hedge funds want rates to go higher so they can make more money off the short position. The betts against the market
Reporting that those conversations, finally ended last week after they decided against the teal. Activist did its own deal last year. Recently, it acquired forest labs in a 20 billion deal. As for pfizer, the u. S. Pharma company had a 1 billion takingover bid for its rival astrazeneca this year. The biggest Bank Offering since the financial crisis, citizens financials ipo pricing blow its expected range last night. Raised about 3 billion. Shares are expected to start trading today at the symbol tsc. China planning to launch its latest galaxy note. Apples iphone 6 hasnt officially arrived in china yet. Eunice yoon told us just yesterday, the black market for the device over there is hot, hot, hot. Activist. Interesting. Founded not that long ago. So that would accomplish the same thing for ian reed . Yes. Its another way to do it. Hes been outspoken on how its like a 1 billion difference. He says we arent doing plants, were not doing research. Were a lot of and that the difference betw
Advancing. Even the nasdaq climbed. Regardless of your politics, heres how you have to think about the election. The republicans took control of the senate, at least inso far as it matters to the market. Thats all we care about in cramerica. You have to consider the election from the point of view of management. Corporate executives risk something when they want people to expand into new markets. Its a risk. They dont want the additional risk unless theyre confident. At least more confident than they have been. Last nights Election Results make every Business Executive more confident about risk than he or she may have felt before the polls closed. Its that simple. It literally is a bell going off. Now, politics is polarized in this country, and its difficult to talk about this subject. [ gunshots ]. Im speaking strictly from the point of view of the executives i talk to at big and Small Companies, and i think i speak to more execs than anyone in journalism. These people are thrilled, a
Its official, halliburton buying baker hughes for about 35 billion, and weve got more on activists and the fight for allergan. Forget wasting time at work. Menlo park reportedly developing facebook for your office . Moving in on google, microsoft and linked ins turf, down 3 in the free market. Numbers inside japans recession, gdp down 1. 6 following contraction of 7. 3 in the prior quarter. This week japanese Prime Minister abe expected to announce delaying plans to race the countrys sales tax and call for parliamentary elections in december. Estimate was 2. 2, to the upside. No one expected this to happen. Now a bunch of policy decisions to make. Do you suspend sales tax . This felt like 1937 in our country where they thought, you know, weve done enough to make it so were coming out of the great depression, lets start raising taxes, be more conservative. There are a lot of people saying that, you know what, this was just being prudent because the country itself is so in hock. I saw th
You know, and the president s expected announcement tonight as he takes executive action on immigration policy as well, right . Thats exactly right. Bill, we were at the white house this afternoon. I can tell you people are buzzing about the fact that hes doing this. The questions it raises about the office. The executive action itself and what it means for the Business Community. And for the future of employment and wage growth in this country. We will get to all of those topics coming up. We have many important interviews to come over the next couple of hours here, including senator from wyoming, we have Mary Jo White, the s. E. C. Chair, Chris Van Hollen, the always outspoken and controversial Michele Bachmann coming your way as well. Youre going to be talking to the president s council of economic advisers chair, jason furman and in a separate interview this hour, we have John Barrasso from wyoming as well. A lot of things to talk about here, kelly, in terms of economic policy, pol