A blowout session in shanghai overnight. Best single day gain in more than three years on a pretty decent pmi. Europe has also been a blend of red and green as the ft names ecb chief the person of the year. Were going to kick off with breaking news. For that would, we go to david faber. News on best buy, in the news yesterday. The stock up sharply. What we can tell you right now is the board of directors of best buy, and its founder, richard schultz, has been trying to put together a group to essentially buy the company in a go private transaction, have extended the deadline in which he would need to come with a bid for best buy and created a window in fact that will begin on february 1st next year and end with the end of that month on february the 28th. Giving schultz the opportunity to look at not Just Christmas sales, but the end of their fiscal year, which will end at best buy on the 31st of january. And that window, again, will be 28 days long giving him an opportunity to continue
To Monetary Policy. Rates will be staying where they are right now, which is close to zero, of course. Until at the very least the jobless rate falls to 6. 5 . We can only cross our fingers wherefore when that might be. Ben bernanke says these changes will make the central bank more transparent adding they can only help the markets. The central bank ramped up its Asset Purchase Program adding 40 billion to its 40 billion a month purchases of mortgagebacked bonds. He spoke about the objectives during wednesdays news conference. The asset purchases and the rate increases have different objectives. The asset purchases are about creating near term momentum in the economy, trying to strengthen growth and job creation in the near term. And the increases in the federal funds rate are about objectives. On that note, lets get dinos take on the latest move. Grpg month. For you, this was expected. The 85 billion was expected. The move to the thresholds, that is, i think, we expected it was happen
Permanent one, but i know from the flimsy deal its only a few weeks maybe a couple of months at most before my washington vacation is over. And the political ugliness is once again front and center. However, the simple removal of washington from the equation coupled with the slew of Earnings Report contributed to strong Market Action today. Dow back slid two points, but the s p rallied. 67 , nasdaq climbed. 62 . You have to discount the dow, these days, by the way, because ibm, Goldman Sachs new dow entry and united health. Three big stocks all reported disappointing numbers. So much for that indexes representational powers. So tonight im going to talk about the triumphs and tragedies in the corporate world. Companies executing magnificently along with the companies that seem to have lost their way and desperately need a shakeup. Because the difference right now between whether a stock is going up or down may very well be whats happening in the corner office, not down the potomac. The
Permanent one, but i know from the flimsy deal its only a few weeks maybe a couple of months at most before my washington vacation is over. And the political ugliness is once again front and center. However, the simple removal of washington from the equation coupled with the slew of Earnings Report contributed to strong Market Action today. Dow back slid two points, but the s p rallied. 67 , nasdaq climbed. 62 . You have to discount the dow, these days, by the way, because ibm, Goldman Sachs new dow entry and united health. Three big stocks all reported disappointing numbers. So much for that indexes representational powers. So tonight im going to talk about the triumphs and tragedies in the corporate world. Companies executing magnificently along with the companies that seem to have lost their way and desperately need a shakeup. Because the difference right now between whether a stock is going up or down may very well be whats happening in the corner office, not down the potomac. The
Imus in the morning is apple still the king of cool . Good morning, everyone, well, did you watch the big concert last night . Have you watched much football recently . Where were the apple ads . The Samsung Galaxy phone he was everywhe everywhere, so was the microsoft tablet. Nearly 200 below the high, the question stands, is apple still king . Good question. Google is it on the attack and telling apple to get lost, almost literally. And theres a new app which puts google maps back on the ipad, goodbye apple happens. Hipocracy keeps coming after you. Warren Buffetts Berkshire hathaways buying back stock why . To void taxes increases, warren was rooting for, and an estate tax he himself will not pay. Are you getting tired of this . Varney company is about to begin. From the best players in history to the number 1 club in the world. The potential of Manchester United unlocked. Nyse euronext. Unlocking the worlds potential. Youve got to say hes still the greatest, isnt he . Eric clapton