10year note yield around 1. 6 and crude oil the story as oil prices down, as you see it right there. Maybe we get the fed moving before the end of the year, right as we come out of the jackson hole meeting. A look, though, at wti. Lets get to our road map this morning. On this late august monday. Mylan, the controversy continues. The Company Announcing a generic version of its epi pen. It is going to be enough to satisfy critics and congress . The herbalife Hedge Fund Drama man here we are, year three, four, five, ackman, icahn, going yet another round. On this battleground stock. Well have news from williams by the way responding to activist pressure and the proxy fight that is looming for the company. It nominates three new independent directors to its board. I will give you updates there in terms of what we can expect on that front. First, though, lets get to the broader markets. Economic data to consider this week includes fridays key job reports especially after yellens marks at j
December. The road map begins with the markets climbing back. Dow and s p back for the year. Oil with a 4 handle. The bidding war for starwood. The hotel change taking a higher offer from chinese anbang. Now marriott has five days to respond. As twitter hits an anniversary, jack dorsey says where the company goes from here. The bidding war in process for starwood. The company that had reached a deal to be acquired by marriott some time ago for 0. 9 shares of marriott and 2 bucks per share, and a spin of this time rental business. Thats what im thinking of, right . This morning as we reported first and has been confirmed by the company, anbang, the Insurance Company from china, along with chris flowers and primavera, large equity firm in china have agreed to purchase starwood for 78 in cash this is 2 above the previous bid they made to buy the company, and a bid that has been accepted by starwood. Before starwood can sign that definitive agreement which has been fully financed, the deal
Now Strong Enough for a december rate hike . A lot of things happening today, but first of all, a very Big Development in the president ial race. Eamon javers joins us in d. C. With more details. Eamon . Mandy, thats right. A blockbuster report here in politico. Com this morning. Politico reporting that ben carsons campaign is admitting that a central piece of his biography was not, in fact, correct as reported by him in his own books. Theyre saying ultimately ben carson was not ever an applicant to west point. In his books ben carson wrote he applied to west point and was offered a full scholarship after meeting with general william westmoreland. Politico reporting that the Carson Campaign is now saying that, no, in fact, he was never offered a full scholarship to west point. In fact, west point is tuitionfree for those offered admission. Theres no such thing as a full scholarship in any case to west point. This follows on a number of controversies for ben carson and his campaign whic
Bringing on the bear like today where the dow dropped 115 points and the s p sank 8. 4 and the nasdaq tumbled more than 1 . Oh, we parsed every word from every fed official hoping that any minute now we would get confirmation that the fed would tighten and then we will be crushed [ screaming ] but what if it already happened . What if were already in a bear market at least for so many stocks . So even if the fed tightens theres not as much down side as we think. What if we saw something akin to the lows last tuesday when the market was crushed after they tried to rebound following serious declines and however it was closing down 11 for the year after the worst august in five years where the declines have been relentless, dont you have to start asking yourself, maybe the bear market is already here . Arent we further along on the down side than many think especially from the more bedraggeled Energy Stocks . Maybe theyre coming back and maybe theyve hit rock bottom that the losses have b
Rental homes. Forget about foreclosures, theyre buying new. That could mean a big boost to builders. Diana olick is actually here shes in the house, excuse the pun to explain how it all works. Li, mandy. Love a good pun. Look, it was supposedly a temporary trade. Largescale investors turning foreclosures into singlefamily rentals. Then when home prices recovered, theyd sell the homes and pocket a nice profit. But investors say it is not a trade. A bunchburgeoning new asset class. Theyre now going to new Home Builders buying in bulk to rent. A californiabased publicly traded reit in Single Family rentals has already bought a few hundred homes from builders and its ceo says that is just the beginning. I spoke with him outside one of his new rental near atlanta. You have no reason to sell any of your homes. No. I actually think we are coming into the most compelling three or four years that ive seen since ive been in the business. Ryan says not only is this a promising new frontier for hi