1. 1 decline. An improvement in factory orders. Uring the month if you exclude transportation, an increase of half a percent into an improvement. Either accounts and improvement here. Erik thank you very much. The latest on the economy, or at least Economic Data from julie hyman. A look at what is taking news this morning. Scheier making an unsolicited bid for this monopoly in hopes of a company focusing on diseases. 30 billion in stocks. 30 ier says it represents premium and values. There is no deal imminent right now. Scheier says they have declined discussions over the proposal. Spun off by Baxter International just last month olivia . Team Health Holdings expanding its reach in the medical field. 1. 6all caps deal is worth billion dollars. The deal represents a premium of 37 over ipc Closing Price yesterday. Team health says it expands its ability facility and doctors. Be results. One dollar 22 cents per share, 32 cents better than estimate. Sales in line with x dictations driving
Do with the manufacturing reports. But not much movement. Olivia a big earnings day with 30 S P Companies reporting today. Earnings numbers are coming in pretty mixed. A little more action in the currency market that is pretty much flat also. , the dollarndex dropping from a fourmonth high and the euro a little stronger but under 1. 10. Perhaps the real story is the the royal bank of australia left benchmark Interest Rates unchanged. Little movement on oil prices, perhaps a rebound from yesterdays selloff, but a commodity driven currency like the aussie dollar and canadian kurt the taking a hit in recent months. More Health Care Companies are making deals. Today, one is excepted while a much larger one is being turned down. Team Health Holdings agreed to aboutc health care for 1. 6 billion. It represents a premium of 37 over ipcs Closing Price yesterday. Team health says it will expand their ability to staff hospitals with qualified doctors. Billion offer by shire is being ignored. The
The chart. One stock that has dragged the dow down is apple. It is up 4 in the past six months, as you can see. A lot of red these days are commodities. In particular the oil market. We are seeing a nice rebound, particularly nine next crude up almost 2 at 46. 05. Read crude is rebounding after the significant top low 50 a barrel. Pimm and that move in the oil markets copy commodity related markets like the aussie dollar. On the bond market and see how treasuries are faring. A little bit of the selloff and the 10 year yield goes to 18, the 30 year moves higher to 288. A little bit of selling in the bond market. Speaking of bonds, lets look at s and p municipal up and you can thetaking a big guys since beginning of the spring, down the index of, puerto rico bonds as the commonwealth attempts to restructure its more than 75 billion worth of debt. We will be speaking with puerto ricos house of representatives, Pedro Peirluisi talking about the debt crisis in puerto rico. Currenciesa look
We continue to grind a little lower. Can i say that . Matt you may. Take a look at the Dow Jones Industrial average. The nasdaq, no, it looks like it is actually putting up some gains. That is interesting because apple has taken a hit. Apple stocks are down 2. 3 right now, almost three dollars. 115, 75 per share. Alix 104 million shares are trading in apple. A huge amount of volume youre seeing in that stock. Matt absolutely. Were headed toward a death cross on apple stock when the 50 Day Moving Average would come down below the 200 Day Moving Average. You technical traders, do not completely freak out. Alix i want to show you what is really moving right now. Aroundt big pop we saw 1 30. That was really dennis having an effect on the treasury market. He said in an interview with the wall street journal it could be appropriate to raise rates in september and that there is a jump in the shortterm yields that are very sensitive to any rate hike expectations are he did say there was a high
I didnt think about it with the tie. Do you have an orange tie . I do own an orange tie. But you never wear it. I never wear it. Are those pumpkins from last year . No. Those are not. Okay. Can you imagine we had things made exactly like us. I have pictures of those. Those arent actually us, are they, andrew . Remember in the past our face has been on them. Our face has been on them. But not these. I apologize, we are going to talk about the markets. We have breaking news the tell you about, we talked about it a little on friday, but now its official. General electric and baker hughes are merging their operations. Now there was a lot of conversation about whether ge was effectively going to be selling its business. We talked about whether this was all happening at the wrong time. This is now what is happening. They are merging the oil and gas operations into a new company that both companies will effectively own. They are looking to get 1. 6 billion in synergies annually out of this tr