At Country Music awards more than 70,000 fans back the at t stadium in texas. That broke the guinness book of World Records for the most attendance at a live award show. She took home three awards. Luke bryan won the entertainer of the year award that is voted on by fans. Lets get you up to speed in the markets. Check out the futures board. This morning, the futures actually indicated up by triple digits. The dow looking at a gain of 120 points. S p futures up 12 points and nasdaq up by 23. Weve got a couple of other big stories. Earnings central, Morgan Stanley tops the company set to post Quarterly Results this morning. Ibm reports this afternoon. 59 s p 500 companies have posted earning so far and Thompson Reuters have reported 75 have topped profit expectations. Thats the good news. But different story emerging on the revenue side. Only 46 of companies have topped estimates on the top line there. And in the big global story this morning, china, the central bank there cutting the re
Assets. What do we know as we look back . We know there was some of the rotation that people were talking about, out of the bond market, into the stock market. If you look at the relative returns of stocks versus bonds, stocks outperforming bonds by the widest margin ever on record. So pay attention. Year, whatto the new sticks out . Still a lot of optimism going into 2014. Not a lot of estimates that returns will be or match the pace we saw this year. Obviously, huge gains in stocks this year. But there is some optimism, especially the signal that the market game with the fed saying it would begin tapering and stocks taking it in stride. The fed, what it was doing, what it was not doing. That was a big theme that affected the dollar and gold. That has been a tricky trade. A huge underperformer this year. Theresioned the stock does not have bears did not have much to hang their hat on, and those lonely gold bugs out there did not have much success either as we did not see the dollar re
How Angel Investors and venture capitalists may exit in the new year. First up, a focus on hedge funds. The s p 500 year to date have aances happening shift from stocks. One of the biggest beneficiaries of money money moving from bonds to venture driven funds that have wall stocks in them, right . Institutional managers think that the bond rally that we have seen is coming to an end, so they are reallocating potentially more money to event driven strategies like polson. The numbers really tell the story here. If you look at the first nine months of the year, equity and event driven strategies gained about what a billion dollars in in that was a school where its relative file you funds in about 21 billion. That is a really big conference from 2002 when you saw a huge amount of money going in, and and a loss about money coming out of the equity funds to the tune of 70 billion. That point to a real turnaround here in the way that investors are thinking about how to allocate. When you thin
Equity firm in the world, blackstone, going public. For the first time this week it is surpassing its 2007 ipo price. Devin, pe as an industry has changed so much in the last few years. Is blackstone the new Goldman Sachs . Hey, deirdre. Happy holidays. It is a good question, because these managers lack stone, kkr are doing a lot of the activities that banks use to do before the regulation came up. Ne prime example is in europe distrust lending, rescue financing, these are areas that banks were very active in. We see blackstone is stepping in to that lending void with this gsr credit unit. Kkr is in the process of doing those types of activities. Re. Llo was already in the in many ways, the question this the answer to your question is yes. They are stepping into that role for certain. Lack stone 6 years ago during the credit crisis, and that stock is basically tanked no other way to say it. But at that time, the Company Double down with its investment. How have public investors done .
Companies, and more. Also asking the asset manager where he is investing. Health care is a big part. Details to follow. We will get you down to the sea d. C. The Obama Administration not renewing its cut contract. Ther cook with me now with change. First of all how much money is at stake . This contract was worth as much as 300 million. The company is out after one year and 90 through one million 93 million. You that the administration has not been pleased with those efforts to fix the problem. They won this contract in september 2011 to be the main healthcare. Gov. Certainly nothing as big as this. Its main job was to build the websites front door, a door that did not work very well for americans trying to sign up in october. Some of its top executives were grilled on capitol hill. Is turning to this new company. It has handled the rollout of californias exchange, covered california. That site has operated pretty well and the administration hoping for the company to do the same thing