Chains are struggling, many customers are coming in for the meat. It is Market Makers here on Bloomberg Television. I am Erik Schatzker. Stephanie i am stephanie ruhle, and im glad we are starting today coming in with the meat. Coming in with the meat . Erik coming in for the meat. Stephanie you know what we need now, a bulletin. Erik abbvie has won the battle for pharmacyclics and will buy the company. It makes a blockbuster blood Cancer Treatment that cost 100,000 a year and has been approved for four blood cancer uses. Johnson johnson had been on the verge of buying pharmacyclics. The European Central bank is releasing details of its stimulus program. At a News Conference in cyprus, ecb president mario draghi says that the sovereign Bond Purchase Program will start next monday. Ecb will be buying 60 billion euros a month of assets through september. 16. This is all part of a plan to invert deflation in the euro zone. The ecb wants to get inflation back up near 2 . China has since se
Tenyear continues to inch higher, now above 2. 11. The markets, two losing sessions in a row, but stocks edging higheren its a big day for the ecb, detailing stimulus plan. Draghi is speaking now. Costco beat the street and samestore sales stronger than expect. Shares are up in premarket. 21 billion zeal in biotech. Abbvie wins the war but the stock takes a dive. Jobless claims coming in higher than expected as more americans filed claims for unemployment benefits. Mario draghi speaking now in cypress, detailing the ecbs plan for stimulus. Euro strengthening after hitting 11year lows to 1. 10 but raising gdp for this year, i think, to 1. 5, right . 1. 9 and 1. 5 for next year . Its funny to see this is something that theyve been talking about, and now, as ive been saying, plants growing in europe. No longer green chutes but deflation versus inflation. Need so get some inflation, thats their plan. Theyll do. I also think this is going to bring the euro down to a dollar. You know theres
Bullard tells ft the end is overdue. The 300 point drop for the dow, euro tumbling to 12year low. Will the trend continue . How much cash will banks be allowed to return to shareholders . Results coming from the fed as investors wait to see which banks capital plans will be improved. Changes in google. A new Branded Store in london a potential acquisition. Futures higher a day after the selloff on wall street sent the dow and s p back into negative territory for 2015. The euro falling below 1. 06 after the ecb kicked off qe earlier in the week. Talk about parity and the last time it happened how long it lasted. Even you writing about the time you went to paris. 90 cents is where it came when it was 2002. I went to paris in july of 2008 it was 1. 59. It was the exact top. I remember thinking this Hotel Room Cost an absolute fortune. People forget weve been there before. We have been there before, it was okay. We decided to debase the dollar. So, even though this is historic, its histori
Table and we learned that at least 40 House Republicans are breaking ranks to talk about anything, all possibilities as they said in an open letter. Right now the dow is up 110, near the highs of the day. 13,062. 59. The nasdaq is going the other direction. Blame apple and Overall Technology having a tough day. Down 13 points right now on the nasdaq at 2982. The s p is holding with a gain of about five points. Well have more on the markets in a moment. First, lets get to whats going on in washington. More republicans breaking ranks to join what we hope will be a bipartisan call for higher tax rates and entitlement cuts. Eamon javers on capitol hill has the very latest details for us. Eamon. Reporter hi, bill. That letter does call for the speaker to negotiate, including all options on the table. It is a bipartisan letter. We should be a little bit careful on this because the letter habit actually been sent yet, were told by congressman Mike Simpsons office. Hes the congressman circulat
Gold steady around 1275, as for europe, mildly week action despite an eightmonth high in uk investor confidence. We are right up against the deadline. Senate leaders say theyre hopeful about a deal today. Our Credit Rating on review for a possible downgrade. Twitter selecting the New York Stock Exchange over the nasdaq for its highly anticipated ipo. And apple saying it will cut orders for the smartphone in the fourth quarter. One day to go until the debt ceiling deadline. The ball is back in the senates court this morning. Meantime, fitch has put its triple a rating on negative watch meaning a downgrade could be in the offing. Warren buffett weighed in earlier this morning on squ squawk. The led not to raise the debt ceiling after youve raised the money is really a political weapons of mass destruction. Jim calls it akin to a poisonous gas, asanine to destroy your reputation after a couple of years. I dont think what buffett says means anything to the people who are against this deal.