The dow, 20,792. Our Leslie Picard starts us off with the comments that have wall street talking. What did jeffrey oven have to say . Two words to describe the markets. They are bad stuff. He was speaking at a reuters event on activism and says he is disinvesting and sitting on 3 billion in cash. Ubben is focused on the risk of inflation. Everything about trump i think is inflationary. Its the last thing anybody is worried about. Interest rates are going up. There is no talk of fighting the fed at all. He did concede that tax reform would be positive. The devil is in the details. If there is a border tax, which is very inflationary. Trumps agenda has been a boom for his investments. He invested in Morgan Stanley and the stock has doubled since. He said he got super lucky because you didnt expect trump to win and all of the sudden, regulatory relief looks to be on the horizon. Rates are going up and volatility has returned. He still owns Morgan Stanley but sold some. He doesnt know how
Good morning, happy monday and welcome to world wild exchange. Im sara eisen sitting alongside don chu in for wilfred frost. We have a big story today. Huge deal in media and telecom. At t buying time warner for 107. 50 a share. Half in cash, half in stock. The total price tag equals more than 85 billion. Well have a lot on this story all hour long. But first, well check in on the broader markets after you can see time warner shares up almost 3 . A big pop already coming on the back of reports that this deal was in the works. At t the acquired shares down about 3 at this early hour. You can probably imagine that this merger is probably given a little bit of fuel for the bullish side of the market. If you look at equity futures right now, you can kind of see that story playing out as well. If you look at the dow, we are going to be up by 80 83 points at this point, thats the indicated point for u. S. Futures. The s p up by ten points and the nasdaq up by 26. And a little of that probabl
Im sara eisen alongside dom chu who is in for wilfred frost. Happy veterans day. Thanks to all who have served and all who are serving in the military right now. I echo that as well. Lets get to the markets. After quite a rally for the dow, finishing at a record high. The s p not there, and the nasdaq has been the underperformer all week long. Its only up about 3 so far this week versus the dows gain of 5 . Right now the dow futures are up 21. S p features down 2. 5. Nasdaq futures down more, 43. So this rotation out of tech continues. The bond markets are closed today in honor of veterans day. Lets show you where the tenyear note yield finished yesterday. Just to give you a sense of the story of the week, which is yields shooting higher. Look at the end of that chart, jumping to 2. 1. Big selloff in u. S. Government debt has been a key theme in the wake of the trump surprise victory. What was that druckenmiller quote from yesterday . Rates could be like a beach ball submerged underwat
And coming up, chuck robins talking earnings. Thats moments away. Our top story in s. An egyptair flight. This appeared from radar over the mediterranean. They had 66 passengers and crew onboard. Weve been watching this story and she joins thus morning. Good morning. We just heard from the minister of Civil Aviation in egypt. He said he is launching a joint investigation with french authorities trying to find out what happened to egyptair flight 804. The big question Going Forward is what exactly happened once this plane left the radar. What we understand is that happened around 2 30 a. M. They were 20 minutes from landing. This was in the southern mediterranean. The Greek Defense minister saying that the plane was making sharp swerving moves before it was lost from the radar. Now what we heard a few moments ago from the egyptian authorities is the reports coming out of greece were as yet unconfirmed and they said theyre going to refuse to provide this plane anything but missing until
Doesnt seem to influence was going on with the investigation. Maria the controversy coming as clinton and donald trump get back on the campaign trail. Both candidates in North Carolina and president obama will appear later today. A deadly week of terror continues. A string of bombings in saudi arabia yesterday, when taken place in a mosque or thousands of worshipers were about to hold sunset prayers. An event five years in the making. And nasas days back entering jupiters orbit overnight. The goal of the nation and what it means for Space Research coming out. More cool video, too. A center in the nba. Kevin durant announcing he will join the Golden State Warriors. Turning to markets, a selloff around the world. Futures. 393 by bus on the dow futures. Off the lows of the morning so far. And your british pound fall into a newt or the one year low against the dollar at 131 and change. The major indices in europe. Weakness acrosstheboard. A selloff of more than one and a 3 in france and ge