Thoughts on apple and the hot investments that he missed. Its a merger monday. Comcast and charter, theyre not merging, dont worry. But they have an announcement. Kate spade and coach, yeah, they are. Plus other deals brewing. And france has decided what the new president means for the u. S. And the global economy. First up though, Warren Buffett sharing his latest views on investing this morning. This is what the oracle had to say to becky earlier this morning on squawk about stock valuations. The most important item over time in valuation is obviously Interest Rates. I mean, if Interest Rates are destined to be at very low levels, not necessarily as low as they are now, but very low compared to the 100 year averages or 50 year averages it makes in i stream of earnings from investments worth more money. Buffett said bonds is a terrible choice relative to stocks. Take a listen to that. Anybody that prefers bonds to stocks is making a big mistake. I have been saying that year after year
Allow the rally to take place and to take the street today. The Largest Police actions were recorded in st. Petersburg and moscow. He was arrested by police as he apartment. Scow hundreds of people stood shoulder to shoulder outside the pulse nightclub in orlando, florida, early this morning, remembering the 49 victims killed there when you go. Then he Malaysian Ringgit was read aloud beginning at 2 02 a. M. Local time. The shooter pledge allegiance to the Islamic State during the attack and was killed by police during issued out after a threehour standoff. Globaglobal news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. I am mark crumpton. This is bloomberg. Live from bloomberg World Headquarters in new york, i am julia. Scarlet i am scarlet fu. Joe i am joe weisenthal. We are 30 minutes from close of trading in the u. S. U. S. Stocks in the red for the second day running. Joe the question is, what did you miss . Scarlet not rated by the a
Weak ahead of the jobs number tomorrow. A handful of ugly misses, store cuts and outlooks, macys, kohls, l brands all moving low sgl er. And market slipping away from 20k. A day of record auto sales. And trio of news to get to on apple, the app store and a new 1 billion investment from that company. Were going to fill you in. But first up in about a half hour from now the Senate Armed Services committee will hold a hearing on Cyber Threats against the u. S. Sparked by allegations that russia engaged in hacking to influence the u. S. Election. Committee chairman john mccain favors creating a special committee to investigate russia while president elect trump has expressed obvious skepticism about the russia hacking probe. Journal today reports the president elect is working with top advisors to revamp the office of the director of National Intelligence which is this nations Top Spy Agency created after 9 11, guys, to sort of coordinate intelligence from various officials. Question is wh
Three months. Nothing has happened. Good people have filled in. Quiet in the news cycle. New studio. I noticed. New president. Yeah. New vice president. What else is new . You have a baby. I have a baby. Thats new. This week. Lets get you caught up on the markets. Weve been watching this march towards 20,000 for the dow. This morning you can see the futures under pressure. Dow futures down by 41 points. S p futures down by six. Nasdaq down by 13. Lets look at whats happening in europe in the early trading there. Or well start with asia. The nikkei down by 1 . Shanghai was down by a half percent. As was the hang seng. If you check out things in europe, early trading there. Look and youll see never mind, well skip to energy. Never mind, well go to europe. The dax, down by a half percent. Modest declines with most of the other markets. The spain ibex is up slightly. If you check out the oil market, this was interesting. Wti rallying despite the idea that some supplies came in bigger than
Our road map this morning begins with the market moving on comments from trump on pharma, defense, automakers, what the News Conference meant for investors. Plus, trumps ally in the valley, peter thiel on the president elect with comments on apple and the stock market as well. Speaking of apple, new report the company is planning a significant move into original content. We will fill you in. First up though, futures moving lower a day after the nasdaq hit that record high. It was a rough day for biotech after shot heard around the pharma world delivered by the president elect at his News Conference yesterday. Our drug industry has been disastrous. Theyre leaving left and right. They supply our drugs, but they dont make them here. Theyre getting away with murder. Pharma, pharma has a lot of lobbyis lobbyists, a lot of lobbyists and a lot of power. Theres very little bidding on drugs. Were the largest buyer of drugs in the world and yet we dont bid properly. Were going to start bidding a