Point is down by almost 2. 5 . The ftse is down by 1. 5 . If you look at the price of oil, which was under quite a bit of pressure yesterday, you can see this morning its down another 22 cents, sitting below 36. Lets tell you about some of the big stories were watching today. Perhaps the biggest right now is this one. Shares of allergan are plunging after the treasury and irs announced new rules to curb tax inversion. The two companies releasing a statement saying, quote, we are conducting a review of the actions. Prior to completing the review, we wont speculate on any potential impact. We should say that allergan is one of the Largest Holdings of some of the hedge fund community. Its considered a topten holding of about 80 hedge funds right now. So you might see a big impact in that stock this morning. The stock was down by about 21 . Im saying it may even be worse. Some of the people we know. Were checking the potential impact. Its down 60 points. Theres not a potential impact. Ther
What billionaire activist investor bill ackmans next move is after the ceo of one of his Largest Holdings now faces a Senate Subpoena over price hikes on three of its drugs including female viagra . Charlie gasparino has the details you wont find anywhere else. And a golden girl no more. Is this the death knell for Ceo Marissa Mayer . Were less than an hour to the closing bell, lets start the countdown. Liz here we go. Youre in the right place with less than an hour left in todays trading session. The markets are moving higher. Its interesting, because first we were paring a whole bunch of gains, now were getting them back. The nasdaq adding on about a third of a prosecutor to the gains right now third of a percent to the gain right now. Even the russell 2000, small and mid caps, moving higher by a quarter of a percent. As i just mentioned, in less than an hour alcoa kicks off earnings season. Aluminum company of america. The street is expecting earnings of two pennies per share. In ad
Thanks very much. We have a puzzle here. I have the rapid update of gdp in the Fourth Quarter but the data which leads to a downgrade also makes economists optimistic. Here is the data. Q4 tracking 2 . That is down 0. 3 because of the data this morning. Q3 gdp 2. 1 . Thats tracking right now. Here is the Fourth Quarter outlook. Bank of tokyo mitsubishi at the high end at 2. 8 . Goldman sachs, barclays at 2 . Atlanta fed gdp, 1. 8 . Morgan stanley at 0. 9 . Here is the data that brought down the growth forecast despite the down grades though some see reasons for optimism for the Holiday Shopping season. Jobless claims ticking down 12,000 to 260,000. Thats back in that low range weve had before making people optimistic about consumers have jobs for the Holiday Season. Durable goods up better than expected, 3 , and here is the big numbers here. Personal income up 0. 4 but spending doesnt keep pace. Up just 0. 1 which can only mean one thing. The savings rate ticks up. 5. 6 . So whats the
Revenue generated from baggage fees, from food and other annoying. Give you leg room, place to put your legs. Small stuff, you got to pay. How much more can the airlines squeeze out of passengers and into added fees impact which airline you choose to fly . And fear and loathing in silicon valley. They are the Companies Consumers are scared of and hate the most when it comes to privacy. We will tell you which ones they are. Lets check in on this busy day with sue. And we start with stocks struggling for some gains. They are Holding Steady right now. The nasdaq the biggest loser this hour. A number of sectors hitting new highs like the Consumer Staples and utilities. The big news, as you said, is in the oil market. Oil hitting a fouryear low after saudi arabia cuts prices that it sells to the u. S. West texas intermediate crude down almost 2. 5 . How low might prices go in. The Million Dollar question. We are pairing some of our losses. Oil down less than 2 at the moment. Allen harry is
Because we are attending the annual baron Investment Conference. The man behind it, ron baron, will be joining us for the next two hours in just a moment. We will bring along some Portfolio Managers and the ceos of some of the best performing investments. First, andrew and joe have some of the mornings top stories. Guys, how are you feeling this morning . I dont know how were feeling this morning. Joe has his eyes closed. Thats how were feeling this morning. I rolled in about 5 44. Yeah. I had about ten minutes before. Come on, bright eyed, bushy tailed, boys, we are ready to go. Were raring to go. My buddy, mac, said coffee, joe . And you know i why are you . Thats the first thing he said to me. You never drink coffee. Yeah, i dont. But i might. I heard you asking for decough. I didnt understand that. Becky drinks coffee. I drink decaf every morning. Becky, you didnt go back to the garden state, did you . Or did you . No, i didnt. Okay. In a in a hotel. It was a long pause. And andrew