of the american people. but make no mistake, if any object presents a threat to the safety and security of the american people, i will take it down. president joe biden addresses the chinese surveillance balloon and other objects shot down by the military in recent days. more of his comments and his message to beijing in just a moment. plus former president trump claims total exoneration following the partial release of a grand jury report on election interference in georgia. we ll explain why that s not even close to being true. and also ahead the latest update from the epa on the major ohio train derailment which is now a focus of many conspiracy theorists. good morning and welcome to way too early on this friday, folks. we made it. friday, february 17th. i m jonathan lemire. thanks for starting your day with us. we ll begin this morning in washington where president joe biden spoke extensively for the first time yesterday about his administration s decision to shoo
Companys products spans various sectors. Thats what makes it so interesting. The ceo will join us exclusively ahead, but we begin with todays market and bob pisani at the new york stock exchange. Bob . Hello, jon. Good to see you. We have been chopping around in a fairly narrow range and the trend is up and certainly since the pc report and the s p 500 and the trends been up here were trying to get to the 200day moving average and were at 5114 now, slowly, but surely. A lot of strength in boeing, thats great news. Apple. Caterpillars been strong. Goldman sachs has been strong and thats at a 52week high and a number of big movers nasdaq, the bigcap tech is mixed and lets take a look at the midcap tech stock and meta and alphabet is down 2 and amazon will close tomorrow and it is up fractionally here global industrials have been having a great little run in the last couple of days and thats good to see. Boeing, lets get out of this month and one of the worst month ever and boeing was nea
Productivity washington helping drive stocks lower. Bitcoin boom, the cryptocurrency surging past 12,000 for the first time ever. And the buyback trade, home depot announces a 15 billion repurchase plan as congress looks on track to pass Major Corporate tax reform mute you futures moving lower three day losing street for First Time Since august. Data from adp, the private sector added exactly 190,000 jobs that was the estimate in fact. The year to date average now, 209, which is better than last years 181 well see what friday brings. Look, i think were in one of those moments when i used to trade professionally where you would come in and say it wants to go down i was watching will and morgan this morning japan is down. I said to you on cross talk, copper had a bad day you know, theres a belief that maybe tech is slowing down, which i cant find i ask everybody there isnt a big firm where is tech slowing down, cant come up with it. But the market wants to go lower and its okay. If we ha
Bob iger is about to join us as disney buys a big chunk of 21st century fox. Retail sales up 0. 8. But we know what the lead is today. Yep, we finally got the deal weve been talking about now for more than a month, of course disney buying those fox assets that weve detailed time and again over this last, lets call it, five weeks or so since we first brought the story to you of the talks between the two it is a large deal, to say the least. Depends on how you want to value the equity right now, at current prices, and if you take into the considerations that minority interests, its about 55 billion in equity. Some 515 million shares of disney will be exchanged for the fox businesses that are going to be sold to disney. Were talking about a deal with an enterprise value of 69 billion. Theyll take on 14 billion worth of debt. Tax liability which i finally got clarity on, 8. 5 billion to fox. That is the spinco, could come down as a result of tax reform, the lower tax rate and that will hav
Hedge Fund Managers to keep the ultralow tax rate. It is called carried interest. Really a nice pay much less than you. Forgive me if i call it a racket. We reported these tax details yesterday the market rally at the value of all stocks have gone up 623 trillion since the election. As things move forward today, stocks inching higher again with just 414 points from dow 25,000. I will say it again, ive never seen anything like this before. We have seen Government Shutdowns before and another one is looming. Congress has until next friday to fix it. This is politics. Previous shutdowns have no impact on the economy or the markets. Thursday december 14th, 11 days until christmas. Do you know where your package is . Varney company is about to begin. You know, the president was not whispering. Hes not known to speak in a low voice. We lost the audio. Tens of millions of people get an increase in their paycheck in february next year. He was talking tax cuts right here. By the way, hes readin