David faber at the new york stock change well talk about the move and impact on tech, media and m a. Feet futures are up well get housing data in an hour and yellen speaks tonight the Justice Department sues to block the merger with time warner saying it would hurt competition and result in higher prices for consumers at t says it is breaking with decades of antitrust precedent by blocking a merger of companies that dont directly compete with each other. Well talk to the lead attorney in just a few moments. As you heard stevenson say, the suit defies logic and erat cal departure from decades of antitrust precedent. It is surprising even now, that we have seen the lawsuit and weeks leading up to the possibility of it. Remember when the wall street journal first reported the possibility it could be blocked. Many people were like, what, really when this deal was announced frankly, action on the antitrust front was way down the list of potential risks and yet here we are with a case coming
After the bell, here we go again. Earnings its game on salesforce hp hewlettpackard enterprises. Guess. And gamestop all reporting tonight. Well tell you what to expect. A debate on whether gamestop can capitalize on the video Game Movement that stock has suffered mightily. A yield of 9. 25 right now unbelievable. Lets start with todays market rally all four major averages are in record territory the s p crossed 2,600 for the first time today joining our closing bell exchange, david kelly from Jp Morgan Funds peter costa from empire executions is at post 9. Rick santelli is at the cme in chicago. Peter, the engine keeps chugging along here. Oh, my god. Its almost unbelievable to today, this was a little unexpected i think we did have positive data this morning. To see the market open up 150 points without batting an eye and continuing to stay strong, you know, its theres a confluence of really good things good earnings, low interest rates, even with the rate hike next week, next month,
We have gains for the major averages. For the s p 500 and nasdaq, we are looking at another set of alltime highs. It may be a holiday shortened trading session, but the buyers are stepping out, not just today, but on the week. Looking at weekly gain for the three major averages. The first weekly gain in three, so many of them are looking for a pullback. It will be interesting to see if that happens next week or whether or not the possibilities have been he, if you will, as this years rally continues on. At blacks looking friday. Retail stocks popping higher. Macys, kohls, and the gap. Macys of 4 . For 2017, the stats are very strong, suggesting it could be the highest shopping season in three years as a 5 00 p. M. Yesterday, spending was up 17 yearoveryear. We will be updating this, but it does look as though we are off to a very strong start. Shopperss, who lore offering discounts and rebates. Another top market today, oil. Lets look at the pocket of strength. Oil, look at that, neari
Quite a nice return to form. We have had a couple of difficult days, factoring in the chinese story, and the s p has been knocked pretty hard. At 1 10 of 1 i dont feel does justice. Atwere down really sharply one point and then we bounced back quite strongly. You can see it here this is the recovery we saw yesterday on the s p 500. You can see its lower as a result of whats been happening in china. Equities back in form. The chinese devaluation is a storm in a teacup. Veryine Central Banks, rarely do they come out and have a press conference. Or briefing that they were stepping in when the market is distorted, they say. An amazing quote the Deputy Governor. He says, trust the market, respect the market, here the market, and follow the market. How much should the market now be fearing this chinese market, or indeed starting to trust at once again . Guy we are getting a few numbers coming out as we speak. The adjusted that income is 543 million. Thats the german utility below expectation
Business news live from singapore. Us president Donald Trumps tough warning to north korea battles world leaders, but is it business as usual for Global Companies . Tata steel and germanys thussen group moved closer toa germanys thussen group moved closer to a merger that could create the second biggest steel group. Good morning, asia. Hello, world. Welcome to Asia Business report. Im rico hizon. Us President Donald Trump does not mince his words. In his first ever speech to the Un General Assembly, he threatened to totally destroy north korea if need be. He also called iran and authoritarian regime and said the 2015 Nuclear Disarmament deal was one of the worst and one sided transaction is the us has ever entered into. Earlier we werejoined by the us has ever entered into. Earlier we were joined by a member from the militant institute has said the ramifications from the speech are likely to be negative. It was interesting when i watched the speech, that wasnt my takeaway. What came ac