Ends up control gun sales if washington wont power lunch starts right now welcome back, melissa. Its been a volatile section the dow was done, its not just getting hit by walmart, though thats a big chunk most of the consumers staples space getting taken down today bitcoin breaking through 11,000. Theres a lot of news out on bitcoin. Were going to break it down for you. Rates rising again yields for the twoyear hitting the highest level, and the financial crisis, and by the way, results of the twoyear note auction are moments ago. Guess what normal boring tyler, but this one could certainly by a market mover. Qualcomm raising is price for purchase of nxp. And reports that the super market chain winndixie will file for bankruptcy and plans to close at least 100 stores. General electric reportedly exploring the sale of its gas engine business. I am Michelle Carusocabrera lets get straight to the traden action this morning. Seema has more dow was down as much as 230 points, but we are off
Sun. Astronomers have called the socalled xo planets exo planets [inaudible] this is bloomberg. Cory this is bloomberg technology. The roadshow rolls into new york and is facing a slow of a slew of investor concerns. What investors are saying ahead. Over goes into damage control. We will look at allegations of Sexual Harassment and gender dissemination. 350 million compromise. We will look at the new terms of a verizon yahoo deal. First, to the lead. Snap kicking off its first u. S. Investor roadshow in new york to with a plan to ipo next work. Slower usingd engagement and the euclid and uniquely week shareholder rights. Up with sean steeple who attended the roadshow. I think you have to justify the valuation. The questions are around user growth as well as monetization. I think they dance around the issue of user growth alluding to issues with the android and monetization, they touched on lightly but certainly as the story progresses and as this valuation, you will need to see more me
The futures are weaker. Dow futures down 22 . Snas dak down by 4. 5. As joe mentioned, oil prices under some pressure as well. You can see theyre down another 3 . Wti, january contract, sitting at 40. 62. The crude december contract expired on friday. The january contract had been trading higher, but as you can see, its coming right back down to where the December Numbers were. Here are some of the other big market stories were watching as joe was talking about. Pfizer set to buy allergan for 150 billion. Thats what it is even though the networks report that it will be structured so that allergan will buy pfizer. Well talk about that. An announcement is expected later this morning. This is an inversion deal with pfizer planning to redomicile. Thats a fancy way to say theyll move their headquarters to ireland. Ian reed will become the ceo of the combined company. Well talk a lot more about this deal with an analyst. Likely to be politically controversial. In other news, petco will be ac
See extremely cold weather hit the country this week. Road map begins with markets trading in record territory. Investors eyeing retailers, many set to report earnings this week. Speaking of retail, what is the biggest day in ecommerce around the world, singles day is tomorrow, alibaba could rake in 8 billion in one day. Well go live to china. Mcdonalds october sales down, key figures across the board but better than what the street was expecting. U. S. Stock markets aiming to extend their weekly winning streak to four. The dow and s p each hitting new record, closing high on friday, despite the jobs number coming in below expectations. This week, investors bracing for a number of earnings reports from likes of walmart, macys, jcpenney, retail sales, abactual number friday, with a lot of fed speak. Alibaba is the focus. Im glad davids over there this is a stock, youre also buying yahoo how brilliant Marissa Mayer held back, more than 120 million shares from the ipo, this is a stock tha
Into the fiscal year the yearly budget short fall hasnt been this low since 2008. On the jobs front, the Labor Department says more people are quitting their jobs. Thats actually a positive since it means they either have or are confident they can get a new one. The Federal Reserve says the Home Mortgage market improved with banks easing up on lending standards for borrowers with good credit. The National Federation of independent Business Reports smaller optimism ticked higher in july, a good sign as we push through the third quarter. This week well see if American Consumers can keep the optimism on the up swung as some of the biggest retail chains post Second Quarter earnings. Analysts are hoping for a big turn around from a disastrous start with wick kid Winter Weather keeping shoppers at home. Will this quarter be better, and which retailers will stand out . Reporter the retail earnings story is a tale of two. The Bloomingdale Stores is one of the higher end success stories. When i