Faber broke the story, a lot more on what it could mean for media content and streaming and more the vote is in, bill ackman has lost it was a pretty tough shella shellacki shellacking. Well talk to Carlos Rodriguez about this companys victory coming up. Bob lutz says we are approaching the end of the automotive era and in 20 years no one will even own a car well dig in on bobs predictions. David, first up, the latest on disney fox. Listen, yesterdays story was interesting, largely for the fact while it may not actually occur, that is disney buying many of the units of 21st century fox, the idea that 21st century fox was willing to engage in talks designed to sell a large part of the company, willing to go smaller in and of itself sends a significant signal to many of the Traditional Media Companies out there and that is the case again as we had reported through yesterday at 1 30 when we broke the story, talks had taken place over the last few weeks. They had ended although they could
Later the analyst is here to make a bold case on why they will go as high as 500 a share. Will you not want to miss. That first we start off with breaking news. This hour to repeal obamacare. Hi, elon. Reporter hi, mellissa. The president says the vote in the house for obamacare was a sign of unity and show they can get things done and tax reform is coming up next. Were going to get this finished. Then we are going. As you know, we put our tax plan in. Its a massive tax cut. The biggest tax cut in the history of our country. I used to say the biggest since ronald reagan. Now, its bigger than that. Also, pure tax reform. So we will get that done next. This really helps him. Before we can get to all that, there are still a lot of pieces that need to fall in place t. Senate needs 51 votes to pass through the Upper Chamber using a process known as reconciliation. The bill thats expected to undergo major changes along the way. Majority leader Mitch Mcconnell said the status quo is unaccepta
Doesnt it . How long can stocks and bonds continue to go up together sh. Id say several more basis points out of the bond, judge. We have got low volatility, low inflation. Those are both helping stocks and bonds. The bonds of course are just running like crazy. There must be more shorts in this than in tesla, but down at 214, 212, where ever the ten year is, you could see it push to two. Perhaps under two. K is to bes are going to continue to go up. If its because of low volatility, then where he, and china saying they can see themselves buying more of the bonds again instead of stepping away from them like they allegedly has been doing over the past several months. Thats another thing thats you know, working against the bears on that trade. I dont know what it is. Rick, i mean, i dont know, is it worry about the agenda . Is it i dont know, ahead of comey . The economy . What is it. Why do bond yields continue to go lower. I think we can safely say it isnt comey. Running a memo b abou
A massive Balance Sheet. Lets go to Steve Leishman, he has been deciphering what the fed is up to steve. Reporter hey, yes, the Federal Reserve hiked points to a quarter point of a ragege of one to onequarter of a percent, turning up the heat and ignoring readings its the First Time Since 2008 the feds number does not have a zero in front of it. Janet yellen says the moves are justified despite weak Inflation Numbers. All that we are doing in raising rates is moving, removing a bit of accommodation heading towards neutral pace and i see that is appropriate, where were not moving so aggressively as to put a break on continued improvement in the labor market. Reporter the fed also announced a plan to begin soon reducing the 4. 4 trillion Balance Sheet. That could happen in a year, unloading as much as 50 billion in assets or 600 billion a year heres some of the stuff they will do t. Balance sheet calls for a monthly warmup capital of 6 billion that means all but 6 billion will be investe
Expect sluggish growth. He said he wants to take that think about and rates. Oil is currently unchanged. It has been bouncing around all morning long. Yesterday falling to as low as 42. 75 a barrel. It is entering a bear market, the 21 to its peak, and dollar coinciding somewhat with oil. That is holding your a onemonth high, gaining as much as 1 over the past two weeks. Lets get an update on what is making headlines outside the business world. We are checking in with them on first world news. Has won theel special election for the house seat in georgia for the gop. She took 53 of the vote against democrats. Democrats have hoped to capitalize on debt President Trumps low approval rating. In london, the queen said the government will try to maintain its subtle relationship with european allies. She outlined Prime Minister theresa mays legislative agenda in her annual speech department. Queen carried on without her husband, prince philip. He was hospitalized for an election. In saudi ara