Cap then i put it down not on my head but on the desk of my day job on jacsquawk on the street i wouldnt put it on was i concerned about a jinx the dow dipped and the nasdaq gained 0. 65 led by the semis. I dont think not wearing the hat was about a jinx but something more pernicious, frankly. Back in the 80s and 90s we celebrated each millennial milestone on the way up. They were hard fought and sometimes they were trapped when the dow was stuck in the 2000s from july of 87 to january of 1992, a crash like we had in october can do that sort of thing. Other times we breeze through the milestones lost some hats, beautiful days then came the turn of the millennium and while the dow held in there the 77 collapse of the nasdaq was too much for people to handle a whole generation of investors vanished many never came back those that did came back, they got crushed by the Great Recession when those round numbers reversed and reversed hard and cut by more than half at the bottom. Thats when i
they arranged through one of their sovereign wealth funds the chinese banking assets at $41 trillion now are 47% of world gdp. is instability in chinese banking industry pose a financial threat to the global financial system is it a financial virus like they have already contributed a physical virus you know, generally, as i am sure you are aware, china has had very high debt to gdp for an economy at its stage of development, and that includes the banking system and the government has actually for several years now been taking measures led i think by the central bank to try to control the growth of debt and they have been they have stuck to thatthrough the last couple of years even those were challenging years economically for them so it is something they are addressing the other thing to say is that they have plenty of fiscal space. if you look fiscally, they have plenty of power to respond to down turns so i wouldn t go so far as to say that their debt is a systemic thr
Strength of the us economy, issuing a thanksgiving message to our troops and thanked them for their service. Fighting for something real, you are fighting for something good. A lot of things happened with our country over the last short time and they are really good, they are really good. I especially like saying companies are starting to come back, we are working on tax cuts, big fat beautiful tax cuts and hopefully we will get that and you will see things happen. Dagen big fat beautiful tax cuts, is that why the market is up . A short trading day, on the dow futures, all major markets hit alltime highs earlier in the week including the russell 2000, the store opened half a day, stock market closing, in europe look at what is happening, a slight loss on the s p in england. Asia gains across the board, shanghai, the nikkei, hong kong and south korea. New details in that uber hack. Accompanys new ceo was made aware of the attack shortly after he started in september. It wasnt made publi
Bob iger is about to join us as disney buys a big chunk of 21st century fox. Retail sales up 0. 8. But we know what the lead is today. Yep, we finally got the deal weve been talking about now for more than a month, of course disney buying those fox assets that weve detailed time and again over this last, lets call it, five weeks or so since we first brought the story to you of the talks between the two it is a large deal, to say the least. Depends on how you want to value the equity right now, at current prices, and if you take into the considerations that minority interests, its about 55 billion in equity. Some 515 million shares of disney will be exchanged for the fox businesses that are going to be sold to disney. Were talking about a deal with an enterprise value of 69 billion. Theyll take on 14 billion worth of debt. Tax liability which i finally got clarity on, 8. 5 billion to fox. That is the spinco, could come down as a result of tax reform, the lower tax rate and that will hav
The nasdaq is on track for its best monthly gain since july of 2016 the s p 500 is at its biggest monthly gain since last february the s p and nasdaq have risen seven of the last eight trading days if you were waiting for things to slow down, you are still waiting. Triple digit gains for the dow already this morning overnight in asia there were gains this came after the strength yesterday with the dow up 200 points. The hang seng was up by 1 shanghai was up by 0. 1 . The nikkei did give back some ground in europe this morning, there are some green arrows across the board. Gains of a quarter percentage point for germany and the ftse in london. The cac in france is up by a third of a percentage point. If you want to look at treasury yields which have been picking up ground, you will see the treasury yield for the tenyear, sitting about the same, 2. 544 lawmakers in germany reached a break through in talks to form a new government the euro rising. You need a government. Euro rising to new