Will be harder. Before we continue, lets bring everyone up to speed with the days agenda. You want to play t pay close attention to what is happening in detroit. The north American Auto show will open its stores. Matt miller is there talking to Industry Leaders like alan mulally and bill ford. He will be a with us in just a bit. 12 40, there will be a speech on the economic outlook. At 2 00, the treasury opens it looks on how the government did in december with Monthly Budget statements. Speaking of budgets, i have my mind on something. Bank budgets or balance sheet. The biggest banks will report earnings. Jpmorgan will kick it off tomorrow morning. Ian, perhaps this is a good place to start the conversation. Things are kind of stuck. The u. S. Economy is picking up speed. That seems to suggest that banks will have a good year in 2014. The curve is beginning to steep in. They can bore short and lend long. I feel better. There is no question. Every ceo i have spoken to says that, despit
Kind of quiet on the earnings front. It will get busier as the week goes on. Davos is one week away. I will be in zurich. Lets do a data check. Were looking at stocks and bonds and commodities. The yield is 2. 85 . Crude goes nowhere. Where did the vix close on friday . Nicely under 13. That is interesting. It speaks volumes about a sluggish jobs report. We will talk about that today. 6. 04. Inese yuan, that is a shop for anybody on the asia watch. Were blowing through to east stronger yuan. A good morning to all of you watching in canada as well. It is a twisted weekend. She sort of dressed like tina fey this morning. Scarlet fu with the front page. Were working on that. Page story, the Iran Nuclear Deal will take effect starting next monday. They will stop producing weapons Grade Nuclear fuel. Theeturn, remember that u. S. Will temporarily suspend the economic sanctions. Relief will be worth about 7 billion. It is a step. What size step would you give it . It is a first up. It is the
And Valeant Pharmaceuticals teaming up for allergan. Well explain. Novartis unveiling a Restructuring Plan amid a flurry of deals involving glaxo and lily totalling 28. 5 billion. Netflix says it will raise prices for subscribers as the jump in earnings pushes the shares in premarket and slew of dow components reporting, mcdonalds, United Technologies, we have it covered. Shares of allergan are surging as we said bill ackman backing pharmaceutical bid to acquire the maker of botox, valeant offering 38. 40 a share in cash. Since february, Ackmans Pershing Square amassed a 9. 7 stake in allergan, but all the discussion guys, today, is about the role of the activist investorer. The times calls it the boldest move yet from an activist. Absolutely. I hope to hear from david. We were going back and forth last night about how does someone kind of basically know theres going to be a bid and be allowed to accumulate stock. Classically that would be front money. If we had an sec that was on the
Yesterday you saw a slight decline for the dow. That was breaking after broke a threeday winning streak we saw going on for the two indices. The nasdaq looked to be down 7 points, the s p are 4 points below fair value. In corporate news, the in the in the is reporting that gm officials increasingly believe that Ceo Mary Barra will be cleared in the wrongdoing in the crisis. The automakers internal probe is expected to name individuals and departments within the Company Responsible for that delayed recall. The investigation will also recommend corporate and personnel changes. In the meantime, gm is apologizing to the families of accident victims who have received recall notices for the replacement of detect fektive ignition switches. Some families who lost relatives in fatal crashes have claimed that gm should not have sent them notices to bring in cars for repairs. Andrew . It looks like mississippi is headed for a runoff in the republican race for senate. John harwood joins us with an
27 billion. We wake up again to another big m a. It is final. These talks between reynolds and we hear the price is 27 billion. Just under 69, but where they are trading now. We should see them spike. At the open, it is about consolidation, in an industry with a state of decline. Newport combined to try to compete. World marlboro this is about trying to consolidate to compete. A huge market share. What about regulatory concerns . This raises a lot of question marks. What they are doing to try to allay regulators concerns is they are selling off assets, as we expect them to do. England, a company will try to buy another menthol business. Americans are smoking less and less and menthol sales are surprisingly resilient. Selling to appease regulators. What is interesting is theyre we know thef ceo of reynolds. She smokes ecigarettes. A lot of people thought this would play on the future of ecigarettes but they will sell off. The bet on ecigarettes, then, where do they all fit here . A good