That is the highest level since early june. For the week prices were up 1. 9 . Adam Global Markets in advance discussions to merge with direct edge. That would create the worlds second biggest market operator. Liz moodys threatening to downgrade several big Financial Firms saying the government will more likely let large banks fail. If moodys follows through it could lower ratings of names like goldman sachs, jpmorgan and morgan stanley. Adam are you ready for football . Ad slots for the 2014 super bowl are 85 sold out that is according to fox sports. 90 of the space is expected to be sold by the time the nfl season kicks off in less than two weeks. After the bell starts right now. Liz what a week of news flow this entire week. So much happened for the markets. Lets break all the action. Sandy lincoln bmo chief Market Strategist and Mark Sebastion in the pits of cme. Mark, to you first. We finish out a week with drama and trauma. Lets talk about the headline that you feel is most impor
Moment. First, we want to get to julia boorstin. Facebook earnings are due out any moment now. Thats right, maria. The big focus is its mobile growth. Analysts expect 33 of the ad revenue to come from mobile. Thats up from 30 in the First Quarter with 767 million users expected. Total revenue was expected to grow 37 to 1. 6 billion while earnings per share are expected to grow 14 to 14 cents. Well also be watching for more data on just how well facebook ads are working and how much time users are spending with facebook in the face of so many alternatives. Ill be back shortly, as soon as the numbers are out. Maria . All right, julia, well be back to you when the numbers come out. We want to get to the action on wall street action with peter, john, and nathan of the Financial Network group. Good to see everybody. Thank you for joining us. Nathan, let me kick this off with. What do you pex ekt the catalyst of the market to be for the rest of the year in. The catalyst for this year is goin
We will talk about manufacturing when we talk with the ceo of walmart m america. Lets check in with dominik chu on what happened today. When will we hear from the nasdaq. Dom, walk us through what happened today. Lets get up to speed on the latest update around 3 41 eastern time. Nasdaq said all operations were back to normal. We head into the closing bell with things at least relatively stable. At least thats the initial impression. Earlier today, lets get you up to speed on what happened. As early as 12 or even before noon today we started to hear stories of trading anomalies around 12 20 they started to shut done stocks for trading p. This is taped c securities, one thing you might read about in the papers, Going Forward into tomorrow. Nasdaq listed security here in the u. S. There was a problem with the pricing engine. They werent able to get good date why out on prices so it affected the entire market. None of those nasdaq listed securities could trade. Later on in the afternoon,
Was price discovery problem. The trading was fine, figuring out the price was not. That was about 12 23. At first it seemed like a small deal. Then bigger. Shortly after that the nasdaq halted all nasdaq trade stocks and it wasnt just at the nasdaq because you can trade nasdaq names on other platforms, but all the other platforms were stopped trading because nobody could uncover the correct price for anything, basically around 3 30 stocks started trading again. It didnt affect anything except the nasdaq price itself. We finally got a statement and it said there was a problem, basically Price Transparency but didnt go into further detail exactly what the problem was or what caused it. I got a copy of this thing that youre referring to which came in about 5 30. So it talks about sip, it basically says the securities industry processor which is responsible for processing all these prices broke down. Okay. I dont know. Why did it break down . Do we have any idea . Bob pisani says it broke
Facebook, yet another important Earnings Report. That stock is still about 40 below the 38 ipo price, incredibly. Wow. And the numbers are being watched closely, obviously, especially the mobility aspect. Julia boorstin will have the results with the best instant analysis, as well. She will speak with the cfo as well. On the heels of the detroit bankruptcy, Meredith Whitney is out with us, out with a dire call on municipalities. She said detroit is another of yet many big dominos to fall. Thats been a long time coming, that whole story coming. It could be the Death Penalty for allegedly ledge fund report, potential criminal charges coming imminently against the firm. This is separate now from those civil charges brought by the s. E. C. And despite the 616 million settlement for Insider Trading charges that the firm paid months ago. Former s. E. C. Head harvey pitt will be here. And past firms facing criminal charges have not done well. We want to get into the impact on s. A. C. And if