The word imbusineeciles, referro members of congress. But no testimony. The leader of turing chemicals refused to testify today. The man known as pharmas bad boy for raising the price of an older drug by 500 cited his fifth amendment right against selfrecrimination. But as meg reports from capitol hill he was anything but silent. Reporter representatives from valiant pharmaceuticals, fda, and the pharmacy benefits manager industry group, were all invited to testify today at a congressional hearing on drug pricing. But the star witness was the infamous martin shkreli. His former company, turing pharmaceuticals, gained notoriety for hiking the price of a 62yearold drug by more than 5,000 . Shkreli is separately facing federal charges of securities fraud. He managed to steal the show while not answering any questions. I intend to follow the advice of my counsel, not yours are i invoke my fifth amendment privilege against selfincrimination and decline to answer your question. On advice of
Israeli Prime Minister Benjamin Netanyahus forceful speech to a joint meeting of congress and the house vote for Homeland Security but the monthly auto makers set the tone for the day. Sales mostly rose even as brutal Winter Weather blanketed part of the country but for some that just wasnt enough. Chrysler missed estimates despite sales increasing nearly 6 . Fords numbers were off by 2 much worse than expectations. The standout was General Motors posting a 4 rise, better than expectations as trust sales surged. Shares of Fiat Chrysler and ford slumped while General Motors rose a fraction. Philip lebeau has more on last months auto sale. Reporter pardon the pun, but february auto sale ss were at 16. 23 million below estimates 16. 6 or 16. 7 million. For the major auto makers almost all reported sales below wall street estimate ford being the one that reported declining sales with sales dropping 1. 9 . What happened last month . Blame it on the weather. Storms really hurt showroom traff
Hang on. As investors kept a close watch on three things auto sales, israeli Prime Minister Benjamin Netanyahus forceful speech to a joint meeting of congress and the house vote for Homeland Security but the monthly auto makers set the tone for the day. Sales mostly rose even as brutal Winter Weather blanketed part of the country but for some that just wasnt enough. Chrysler missed estimates despite sales increasing nearly 6 . Fords numbers were off by 2 much worse than expectations. The standout was General Motors posting a 4 rise, better than expectations as trust sales surged. Shares of Fiat Chrysler and ford slumped while General Motors rose a fraction. Philip lebeau has more on last months auto sale. Reporter pardon the pun, but february auto sale ss were at 16. 23 million below estimates 16. 6 or 16. 7 million. For the major auto makers almost all reported sales below wall street estimate ford being the one that reported declining sales with sales dropping 1. 9 . What happened la
For the Dow Jones Industrial average, up nearly 156 points. It finished at 18,288. The nasdaq closed 44 points higher. It was 5,008. The s p 500 also at a new alltime closing high up 12 points to finish the day at 2,117. Berttha coombs joins us with what drove the index to this level. Hi, bertha. Its been an amazing ride tyler. 15 years ago, you had stocks that traded on the nasdaq with valuations that were sometimes 100 times or more what their earnings were, if they had profits at all. Very different index right now. If you take a look at a number of these stocks some of the high flyers they now have valuations that are much closer to the closing market. The nasdaq 100, even if you have stocks like amazon and tesla, you still have other stocks that brought the nasdaq 100 pe down to 19. That compares to the s p at 17. And really the biggest indicator is apple. Apple, despite being the Largest Company emp by market valuation, trades at just 14 times its recordbreaking earnings. Pr. Ber
Bonds, gold and the dollar all on the move after the fed said it will keep the stimulus in place. But is it what the central bank didnt say that really drove the market . Facebook, the sial Network Reports strong profits and the stock jumps, what investors need to know about facebooks financials. All that and more tonight on nightly Business Report for wednesday, october 30th. Good evening everyone. We begin with president obama on the defensive speaking from boston, the president tried to drum up support for the troubled health care program. He chose samuel hall where a Massachusetts Health care plan was signed into law seven years ago and considered a successful template for the president s own Affordable Care act. He admitted to problems with his Health Care Website and that people are getting cancellations notices, but he said giving People Health care should be a no brainer. Shifting blame for cancelled policies on private insurancec companies. Nobody is losing their right to hea