Ramey 490,000 new home sales for the month of november. This is less than what we were expecting for the month of november coming in at 500 thousand, so amiss. For the this is a miss month before. Youre looking at the revised number for october of 470,000, so a miss. That would have been three a row of gains, but we are missing that. Lets go to university of Michigan Consumer data and that is beating estimates, coming in at 92. 6. Iswere expecting 92, so this meaning we are seeing five months in a row of rises and better than what we saw from prior 91. 8 for the month of november. With see what is happening the markets. The markets opened in the green earlier and this is where we are. The markets looking like they are continuing to rise. The s p 500 is up by three quarters of 1 and the dow jones is up similarly and the nasdaq up by about two thirds of 1 . We are in positive territory. Down to the bloomberg territory, leading that the lets take a look at the leading and lagging. Let me
Doctors are headed to texas, looking for anyone who might have come into contact with with the first person diagnosed with ebola in the u. S. Prodemocracy protesters jeered leaders. The tests are the protests are in their 60 day demanding free elections. Mary barraors ceo will lay out her strategy with Investment Investors and analysts. Gm has been hampered by record recalls so far this year. Industry, the auto chrysler numbers are out for the month of september. Scarlet fu has more on the sales, up about 19 . Up about 19 . An consensus was for increase of 16 , so this is a better than estimated increase for chrysler. Previous to this announcement, analysts had been looking for General Motors to post the highest increase, 18 . Ford is expected to show a 2. 4 drop. Were still waiting for gm and ford numbers. Reiterate, chrysler reporting u. S. Auto sales for the month of september coming in with an increase of 19 , higher than what analysts had been looking for. We will be waiting for t
Retail sales and import export prices. Also worth watching today, november Consumer Sentiment and business inventories. Andrew, over to you. Corporate news this morning, Oil Field Services provider baker hughes confirming its now in talks with rival halliburton. This after the wall street journal reported on negotiations between the two. A merger would create a want korth 67 billion or possibly more. This years drop in Energy Prices has hurt and sent stock prices in the nasdaq much lower. Industry watchers note a deal would likely face antitrust concerns. Well talk to an analyst who covers the company in the next hour. Theres a real bet that oil price res going lower and that they need to consolidate to compete with schlumberger and the rest of them. Stock deal. They exchange cheaper stock for cheaper stock . Cheaper stock for cheaper stock. I imagine there would be a lot of layoffs because part of the whole idea is you would be trying to get your costs down. Speaking of energy, the ie
Three days in a row of 10 hours of netflix each day. Besides reading news. I had to catch up. Reading all news all weekend long. And watching. Lets get started with the headlines. Another home run for carl icahn. Forest labs agreed to be bought by actavis. Icahn has been pushing for sale for more than a year, he is the secondlargest shareholder in forest labs. Off. Rsistence pays he has threatened a proxy fight for the last three years. To appease them, the company give him some seats on the board and he got his guy as ceo. As a result, you get the outcome that carl icahn wanted all along. Forest labs to be bought out. He is different from the other activist investors. How many years has he been invested here . At least three. Lets not forget the fact that he came into the stock saying it does not have scale, it does not have a sales force that is as strong as the other players. Forest is of the day, not a slamdunk hit for activists. It has a problem developing new drugs ever since its
But stocks are down. Worse day for equities in the bull market started back in 2009. The nasdaq in particular selling off quite heavily, down about 3. 5 . Blackrocks chief investment strategist is with us. What are investors thinking . There are a couple of things going on. Veryof these sectors got aggressive valuations. You look at biotech for example. Nearly eight times book value as recently as the end of march, so clearly, you know, stretch valuations have played a part. I think what is exacerbating this anchor to reading and contributed to the seat is were seeing a lot of liquidation by hedge funds. They have done really well with a, but at that moment them has broken down, we are seeing some aggressive liquidation by many of those players. What are those players doing now and what are they buying into . Been a lotthere have of movement into cash, but you are also seeing something below the surface. Take a look at technology. We have all spun this as Technology Selling off. If you