Responding to scrutiny for increasing the treatment by 400 over nine years. 30 minutes into the trading day, lets head straight to the market death where Abigail Doolittle is with us and has the latest. Abigail we are not seeing too much of a reaction yet. We take a look at the dow s p 500 and nasa that, we see all three are up modestly following weekly declines for all three indexes. For thet in nine weeks nasdaq. Not seeing too much of a reaction after janet yellen policy speech in jackson hole last week despite the fact it appears rates could be pushed up earlier than investors previously thought. When we take a look at the today chart, we see a rebound. Pressure on the idea that rates could go down. A bit of a rebound today. Class. S are one asset commodities, currencies, and bonds. Oil is asset check, trading lower today. This could be on the suggestion we will see the dollar raise rate rise higher. Oil is down and we go into the , wemberg and we take a look see this year oil has
Matt we are nearing the Halfway Point at the trading day. Lets go to the markets were Abigail Doolittle has the latest. Abigail great to be here. Good to see you in person. We do have a nice rally going on here for u. S. Stocks, the dow s p 500 and nasdaq are all nicely hired. We see the bullish activity accelerating for the day. Nice exemplified the dow having its best day since august 5. We pull up a chart in the bloomberg, beautiful rally. This is where we started. We are now nicely higher on the best day for the dow since august 5. Of the s p 500, it is a bit a different story. We have the s p 500 languishing to some degree in a range interestingly unchanged over the last 10 days despite some of the choppiness in the range. Individual movers, lets look at stocks moving on music news, starting with amazon and pandora. Up nicely on the news out of a report from the Financial Times that the company could want a streaming Music Service very soon. Perhaps as soon as next month. Pandora
Fwa the ceo addressing the epipen controversy. Tiffany beats estimates but struggling with a drop in tourism and the dollar store is under pressure, continued weak Earnings Guidance for the year. But first up, mylan taking action in response to criticism of that epipen pricing. The Company Announcing it will cover up to 300 of the allergy drugs outofpocket costs at pharmacy, reducing a patients cost exposure by 50 . Also doubling eligibility for patient assistance, eliminating outofpocket costs for both uninsured and under insured patients. Moments ago on squawk, Heather Bresch was asked why mylan didnt lower the list price on the drug. Heres her response. Had we reduced the list price, i couldnt ensure that everyone who needs an epipen gets one. So went around the system. This savings card is equivalent to cash, 300. Effectively were cutting the price in half, but were letting you take control of that. Were letting the patient take control of that. We enhanced the we enhanced already
You have to be seeing across the board, every single group is falling. Equity market feels the pain. Alex will talk central banking and the markets. We clearly want to be discussing where we are going ahead with our guests. We will be talking with scott mather, coming up in a bit. Fascinating, his viewpoint on when they will hike. And of course how good that job number has to be. Alix overall we are looking at a market rerating for the fed hikes expectations. It comes to equities, the dax lower. You have emerging markets lower over the last two days, and they are trickling through with a story in the fx market that is stronger that is the stronger dollar. Particularly, dollaryen, 1. 02. You have yen weakness, but is that confidence about the boj in rode a in corrode a commodities are getting hit across the board. Off by 1. 3 . Ti, a 47 handle now for wti. Bond marketsthe friday you saw that big rally ofyields on the front end the curve. The biggest jump, 10 basis points, the biggest ju
Welcome to the program. This is countdown. Manus what does the day ahead look like . Stanley fischer will be on bloomberg. A discussion with him. Will spain get a new government . Anna risk radar. Asia equity markets stronger this morning. At the centerncy of things for the japanese equity markets. Extending losses post jackson hole. A big impact on the stock market yesterday. The dollar is climbing. The yandex ended its losses. The longest losing streak in five months. It a fed story or a yen weakness story . Mark the fact that it looks like president rousseffs days are numbered. It is tying in to the currency there. The biggest stock market. The bestperforming stock market today. It looks as though president rousseff is saying the impeachment would amount to her death sentence and put at risk the countrys democracy. Anna we are supposed to get the final vote. The weakness in the brazilian economy. About ahead of the informal gathering of the opec members in september in algiers. We s