While some investors like it when activists come in to shake up public companies, weve got someone who says theyre ruining corporate america. Hell make his case coming up. And the new years going to bring new business in california that would be legalized Recreational Marijuana what took them so long im surprised its taken california this long. You moving back no, i go visit family once in a while, though. Were going to introduce you to the First Company to be licensed to sell in california coming up. Lets get straight, though, to the confusion thats for sure. The confusion surrounding the tax bill as americans continue to line up to prepay their property taxes before the new rules kick in in the new year. The irs did release that memo late yesterday in an attempt to clarify who exactly can take advantage of the prepayment. But there are still plenty of questions. So we sent our guy, eric chemi, out, to look into this he joins us now from a hightax town in new yorks Westchester County
Im wilfred frost live from london this morning. Lets get straight to the Global Market picture futures are pointing lower off the back of some declines elsewhere in the world we are down around 100 points or so on the dow. Improving a bit. Down about 80 points the s p down 5 points. The nasdaq down about 30 points. A big intraday turnaround yesterday. A 450 point swing on the dow initially markets liked the fed minutes and then they decided to focus on the word further being added to the line of further policying tighteni inin ining ly as we come in to today, down 1 for the week as a whole for the dow and s p. All 11 sectors were lower yesterday and a lower week to date as well down 78 points on the dow as we look at things tenyear treasury note yields rose across the board yesterday in responses to the fed minutes. The tenyear yield hitting a fouryear high the high for the tenyear yesterday was 2. 957. Right now 2. 923 on the tenyear. Asia is fully open china bouncing higher after hav
That conference. A lot of optimism there. And well discuss why hundreds of millions of dollars are going into Alzheimers Research it still may not be enough to make any real progress. Also along musk discussing the latest spacex rocket failure right now. Well bring you the latest headlines soon as we get them. We start with our closing bell exchange. The major averages are in record territory. Territory. Mr. Willis whats moving this market today . This is another one of those days where we are hitting singles. No home runs but enough to put us over the top for the s p and the nasdaq in record territory today. The big cap, particularly the nasdaq are the story. Inside that story, you need to take a look at some of the rotation that we are seeing. Still taking profits out of the russell 2000. Some of the Health Care Stocks seeing profittaking. We are seeing money rotate into the consumer discretionary, particularly the restaurants strong today. Chinese stocks trade here also showing stre
Another 32 points. The nasdaq looks like it would be down by 123 points. Again, this is across the board some rough times. If you thought you were going to see a rebound this morning, its not happening, at least not yet. Part of the reason what happened in china. Joe mentioned the shanghai composite plunging to a fivemonth low. Its now giving up all of its gains for the year. That decline of 8. 5 that came today follows a 4 decline from friday. Again, it has been rough. It has been difficult. Weve been watching what chinas trying to do. There is a general sense of not only a slowdown in china but also the idea that the Chinese Government may be losing control. Many investors had been expecting beijing to unveil more policy support over the weekend following last weeks 11 drop for stocks, that didnt happen and the disappointment over the lack of a move is evident. It is one of the big reasons for todays more than 8 drop. The rest of asia also closing sharply in the red. Take a look at w
The hurricane struck at a bad time. Electric Power Authority their file for bankruptcy. Global news 24 hours a day powered by more than 2700 journalists and analysts in more than 120 countries. I am Alisa Parenti and this is bloomberg. Emily i am emily chang and this is bloomberg technology. Up, s p 500 on a sixweek winning streak. Tech helping to ignite the boom. Is it sustainable . We will identify potential headwinds on the horizon. Tech ipos are back on the menu southeast asias most valuable startup leading the charge in new york. Earnings on cap with Major Players lining up reports for next week. We will preview the biggest companies. U. S. Stocks closed out fridays session at record highs, new record highs, the fourth straight positively for the nasdaq. What can slow down the gains . Michael regan and david joining us from new york. Michael, does the tech rally have room to run . I think if you look at the forecast growth rates for your main Tech Companies, they are so strong tha