Nasdaq fell. 5 and this trust deficit is incredibly intimidating to both home gamers and professionals alike. There seems to be two sides to every story. And the vast number of times in this market, the ugly side is taking precedence. Even as initially the Positive Side seems to be winning. These reverses were forward progress doesnt matter are shocking people and making so many investors rethink whether its even possible to make money in the market. At least at this very moment. First, let me just say, for now, the market is dominated by traders, particularly traders who believe the average has to fall, maybe 4 or 5 more before we get on even footing. That overarching view of the s p 500 in the market where futures and eft trading color everything is setting a very perturbing tone. One thats got tremendous gravitas because we could potentially get a hideous employment number in two days. Let me give you tried and true, brutal numbers of what im talking about. Vicious stories from the
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.
The u. S. To the downside by almost 3 . Macro data has largely missed today. Everything from China Services pmi to german factory orders. Our road map with alibaba. The ecommerce giant files for what could be the biggest internet ipo in history. A peek at chinas fast growing ecommerce market and one unusual company. Record earnings for disney. Frozen sales continue their hot streak. Disney chairman and ceo bob iger will join nous a cnbc exclusive. Shares of whole foods plunge down 17 this morning cutting their outlook, profit disappointing the street. Well hear from Ceo Walter Robb first on cnbc. Fed chair janet yellen will head to the hill about an hour from now. Is she going to move the markets . First up, alibabas filed for what could be the Largest Technology ipo in history. The offer could value the chinese ecommerce site at more than 100 billion, raise more than 16 billion which would top the amount that facebook raised at its 2012 ipo. Yahoo stake in alibaba worth about 26 billi
Stocks and the stories making headlines on this thursday. Alix steel follows the latest Earnings Report from conagra. We begin with our senior markets correspondent julie hyman, and alibaba announcing plans to list its shares on the New York Stock Exchange. Julie, good afternoon. Good afternoon. There has been a heated battle between the nasdaq and nyse to win this prestigious listing which might be the largest ipo ever and certainly would be one of the largest tech listings on either of these exchanges. Click the New York Stock Exchange has indeed won this. It is now owned by intercontinentalexchange, or ice. At 160e is estimated billion. It would be behind ipm and oracle among Tech Companies listed on the nyse. There is a lot of talk about the importance to either of these exchanges in winning this listing. It is more of a wrist each idea here. If you look at actual revenue it isisting fees to ice, a relatively small part of its overall revenue. So it is more of a question of braggin
Stars mark polo and Keira Knightley. I was speaking to the films director on how independent movies fit into the everchanging world of digital media. All that and more over the next hour. Lets get headlines from my radio cohost carol massar. Nike shares are higher in after hours after the Company Posted Fourth Quarter profit that topped analyst estimates. Net income in the quarter rising more than 5 to nearly 700 million. Dupont also in the headlines. The company cutting its fullyear earnings forecast citing disappointing decrease in herbicide sales. And gopro gaining 30 in its initial day of trading. The company raising 427 million yesterday selling nearly 18 million shares for 24 each. Today the stock closing over 31 a share. And i think that worked out to about 10 in terms of what they sold at the company. Thats a look at the headlines. Back over to you. Thanks very much, carol massar. Speaking of initial Public Offerings ali babba will list its shares on the New York Stock Exchange