Gold steady around 1275, as for europe, mildly week action despite an eightmonth high in uk investor confidence. We are right up against the deadline. Senate leaders say theyre hopeful about a deal today. Our Credit Rating on review for a possible downgrade. Twitter selecting the New York Stock Exchange over the nasdaq for its highly anticipated ipo. And apple saying it will cut orders for the smartphone in the fourth quarter. One day to go until the debt ceiling deadline. The ball is back in the senates court this morning. Meantime, fitch has put its triple a rating on negative watch meaning a downgrade could be in the offing. Warren buffett weighed in earlier this morning on squ squawk. The led not to raise the debt ceiling after youve raised the money is really a political weapons of mass destruction. Jim calls it akin to a poisonous gas, asanine to destroy your reputation after a couple of years. I dont think what buffett says means anything to the people who are against this deal.
15 billion. It could be the biggest internet deal since google. Not everyone is ready to buy in. This is todays wall street throwdown. Scott martin is ready to go allin on alibaba. He is also a fox news contributor. We have brian sossi, is saying stay away, far, far away. Scott, go ahead and get it started. Melissa, you brought up first and fores mow this is coming to the nyse, a New York Stock Exchange. This is major win for the. Change. A major win for the u. S. Number two, a growing company. Roughly two billion in revenue makes by the way, a billion in profit, bigger than ebay and amazon in a growing area of the world. Emerging markets, china, asia, thats a beautiful place for them to be. By the way they finished up a very strong q4 well see in april that will further boost the raise. Melissa brian get in there. Given how the ipos have done in the tech sector. Melissa how do you egger with the profits. Game on, melissa. Happy st. Paddies day. Now the books are open. What will you fi
And the number the headline number for the Business Front index, 109. 7. Thats, again, the reuters Consensus Forecast for 110. 2. So missing expectations. Current conditions index, 1. 48 in june. Again, below consensus expectations, calling for 15. The expectations index, 104. 4 excuse me, 104. 8 in june and, again, thats below forecasts, reuters consensus calling for 104. 9. I guess to a large extent this was to be expected given the softer pmis we saw yesterday. It follows the survey we had for this month, too. We will dig into some of the more details about that. Scott, weaker there on some of these german numbers from the ifo survey in this month. I think its very much in line with the pmi as we saw earlier this week. I think that maybe reflects the fact that you have a lot of your political answers going on. Right now, we have the situation in the middle east. I think many corporates are concerned about Oil Prices Going forward and, of course, i would say when i look at ua, we see
Dow jones industrials. We havent been there for some time over the last couple hours. Interesting to see us getting a little pop here the dollar strong ran the vix tire and durablegoods orders rebounded into september and looks better than august and initial jobless claims fell below expectation. We are looking at the dow up almost ten points gaining 0. 1 . Proctor and gamble is the best performer on the dow, one of the names helping the dow along. They came out with their numbers. The profit for the first order rose more than expected. Shareholder, talking about cutting costs to get things rolling and restore growth and that is what they are doing, stock hitting a multiyear i. 80 of the countrys top executives are urging congress to reduce our deficit. Three key points to get our nations debt in check, reforming medicare and medicaid, strengthening Social Security and initiating progrowth tax reform. Here with more is exclusively on the Fox Business Network greg brown, chairman and ce
Look at how its weighted. Theres a big move there with Microsoft Holding the gains. We hit the high of the session minutes ago. Much more on steve balmers resignation, but now, much more importantly, who gets the nod as his successor . If you got excited about a housing recovery, hold your horses for a moment. New home sales for the month of july fell 13. 4 to a 394,000 annual rate. That is the lowest number since last october. Rising Interest Rates, of course, could be the culprit with the 3 30eyear jumping but its important to remember monthly data are volatile and subject to large revisions. Remember, its just the opposite this week when we got existing home sales, totally opposite of new home sales, but that number jumped to the highest level since 2009 due to buyers racing to beat rising Interest Rates, but, again, we dont see that with new home sales. Interest rate on 30year mortgage nearly doubled since may to around 4. 85 , still low a fox exclusive with the ceo of the First Ho