u uncertainty of a number of saudi princes and ministers were arrested over the weekend on corruption charges and of course as you probably have heard by now, that includes prince al waleed bin talal we ll look at what this means for u.s. companies looking to do business in saudi arabia we haven t even gotten to the qualcomm/broadcom story but there s other things to get to now. we have the breaking news now that disney has held talks to buy most of 21st century fox. david faber back again anything new on this is. we can advance the story a little bit and refresh it for people, guys 21st century fox, as bill just said, has been holding talks to sell most of the company to walt disney leaving behind a media company that would be tightly focused on news and sports according to people familiar with the situation these talks have taken place over the last few weeks and given their complexity, it continues to be seen as a tough deal to get done by those who ve been working on
s&p 500 down four out of the last five days following the last week weekly decline for the s&p 500, the first time it happened in nine weeks. , we are seeingne it in stocks. in a small way. uncertainty around tax reform and a massive move higher with some investors wondering whether valuation is justified. it has been a long time since a bigger pullback for the s&p 500. this is 2622. the bars represent the degree of the move either up or down with the yellow line is one person up and one person down. in the 51st day without a greater than half a percent move down. earlier, the s&p 500 at the lows had been down a 10th of 1% but similar to yesterday, some of intraday volatility usually does lead to closing volatility. a good chart in the bloomberg that suggests we will see some more closing volatility for the major averages. , as is 8927, a high-yield default swap index. that is insurance against the possibility that high yields issuances could default. it is used by sophisti
weekly inventory numbers coming out in 30 minutes. materials are under pressure as well. the commodity selloff we are seeing is not just in oil. we are also talking inflation as er we got the numbers this morning. inflation very slightly hotter than estimated committee even as wages continue to be under pressure. here is commodities and the inflation outlook. what expectations for inflation are being priced into the market. this is the 10-year break-even. we have seen that come down. come down as but applicable along with of the commodities, the commodities index. speaking of commodities and pricing inflation, we have target in focus this morning after the company said it has been cutting prices to better compete with walmart. however, that has put pressure on its margins. some of the numbers missed estimates, including its forecast, which it raised, but the midpoint of which is still below analyst estimates. target shares are trading lower. kroger under pressure as well. the
i m michelle caruso-cabrera. we have a new trading month under way. it s been a narrow mixed session and then some volatility here in the last few minutes because of what president trump said. nasdaq outperforming the dow and the s&p 500 again hitting another record interday high. speaking of highs, check out these names. price line trading at an all-time high back to its i po in march 1999. yes, that would be an all-time high. electronic arts all-time high in 1989. dales force, ditto, ipo june of 2004. ceo marc benioff will join jim from san francisco tonight on mad money. jim cramer, of course. melissa, check out shares of tesla up more than 3% today. so far the stock is up this year, get this, more than 50%. first, though, to dom chu with breaking news. what we are watching now is a move in the financial stocks, big bank-related ones on the heels of bloomberg headlines saying that president trump is weighing possibly a revival of the 1933 act, xheshgs banking operation
extension of earlier gains, material stocks, health care shares leading the gains that we are seeing today even as we are still seeing volatility remains subdued. health care is doing well today. oftedhealth group in some the insurers higher. the presidents begin at a conference today saying health care is in a perpetual state of change. he says he sees very strong topline growth across the business in 2017. those shares up 1.5% and cigna and aetna also on the rise trade we had auto sales reports earlier today. automakers are rising, but so is goodyear tire in a good big way. up by nearly 6% morgan stanley analyst upgrading the shales by two notches. two notches. he boosted it to the highest on the street, $52. he says the technological revolution immobility may grow drive growth in miles traveled to two times historical levels. we are seeing some other auto today.akers rise outside stocks taking a look at bonds and the dollar today. we are seeing a little bit of a chan