Romaine we tuck about the nasdaq being at that record high. 7 , 8 is still about below its previous high that it hit before the drawdown in february. Likell 2000 down something 14 . When you start to sort of look at how this rally has been distributed, there are certainly a lot of areas that can play catch up. We have seen that kind of bottom feeding. Somel traders picked up on of these stocks that they felt were little bit too beatendown. Looking for a bit of a rebound there as well. Still with us, sarah malik. I just want to talk about the support that this market has had from the Federal Reserve. Policy,banks, monetary both what has been implemented and what has been promised. Goinge point, the fed is to have to reckon with this, whether they should pull this back. Do you anticipate that there would be a negative reaction of any significance in the equity markets to the fed starting to unravel . I think they have been pretty clear in the fact that they are going to provide support a
Point is down by almost 2. 5 . The ftse is down by 1. 5 . If you look at the price of oil, which was under quite a bit of pressure yesterday, you can see this morning its down another 22 cents, sitting below 36. Lets tell you about some of the big stories were watching today. Perhaps the biggest right now is this one. Shares of allergan are plunging after the treasury and irs announced new rules to curb tax inversion. The two companies releasing a statement saying, quote, we are conducting a review of the actions. Prior to completing the review, we wont speculate on any potential impact. We should say that allergan is one of the Largest Holdings of some of the hedge fund community. Its considered a topten holding of about 80 hedge funds right now. So you might see a big impact in that stock this morning. The stock was down by about 21 . Im saying it may even be worse. Some of the people we know. Were checking the potential impact. Its down 60 points. Theres not a potential impact. Ther
Approach. How about some first word news from vonnie quinn. President obama urging turkey and russia to put aside their disagreements and focus on defeating the Islamic State. The president met with turkeys later today. The diplomatic crisis arrested after turkey shot down the russian war plan last week. Its threatening to undermine president obamas efforts to expand the Usled Coalition fighting Islamic State. Now, than 90 minutes from the president will hold a News Conference in paris. You can watch that right here on bloomberg tv beginning at 8 25 eastern. Commonsn, the house of is excited to vote tomorrow on Islamic State. Cameronnister david called the vote, he wants british warplanes to begin bombing Islamic State forces in syria. This led to a split in the opposition labor party. Opposes theader attack. Other Senior Labor Party members are in favor. And the u. S. Is making it tougher to enter the country. The government adding new screening requirements to program that lets peopl