Do we call him dr. Sunshine. He likes to say dr. Realist. Allergan could be buying a it had a market cap of 90 million and theyre buying it for 1. 7 billion. All because the Bio Tech Companys progress in fighting a certain type of Liver Disease. We will look at what other companies could be takeover targets in that space because of this takeover here. We are keeping an eye on markets. The dow is up 50 . S p is up five. Nasdaq trying to participate. Lets get to our top story. Wells fargo ceos testimony on capitol hill you saw live here on cnbc. Testifying in the wake of the banks fake account scandal. Williford frost is in washington. He has been covering hearings all day today. And the hearing was far tougher for john stumpf summed up with this exchange. Have you returned one nickel of the money you earned while the scam was going on . And the board will i will take that as a no, then. Have you fired a single Senior Executive . I dont mean regional manager or branch manager. Im asking
If you look at the yen, to see how the markets are focusing up on all this, the dollar yen looks like its sitting at 101. 52. The nikkei up by about 2 on this. A lot of options that the bank of japan had. This is not one of the four major ones people were anticipating. A bit of a head scratcher. Jim can make make sense of it later on. I was listening to Worldwide Exchange driving in. Its a little wonky. Just trying to fix tenyear bond yields, but probably all about the yen. I dont know what to make of it. Heres the thing. This is the wall street journal saying yesterday stocks moved up based on it. The dow edged up as investors awaited policy decisions. The bank of japan is the big the bank of japan, for the hard core investors, this is the game. I will say, jim can clear some of this up, by not easing further, by not luring Interest Rates one more time, by saying they wont buy more in bonds, that may give our Federal Reserve room in terms of going ahead and pushing rates higher. Its b
World. We will take you inside. Tyler is off today. My partner Bill Griffith is here at cnbc headquarters with me. The major averages trading in a narrow range, light volume. You would expect this for the last trading week of the year. We have seen several new records. The s p, the russell 2000 closed in a new high on friday. Here is how we stand at the moment moment. The s p is up a fraction. Now 53. 30. Brent is back below 60 with conviction down 2. 8 now or 1. 66. That is taking a toll on blue chips. Back to the New York Stock Exchange. Bob pisani, happy monday. Lets take a look at the s p 500. We are lower as oil moved to the new lows. Not that much lower. I think the market is holding up fairly well here. You see us off of our highs. S p still positive. Dow went negative a short while ago. We did see oil stocks move down. Look at the exploration and production index. Oil started moving south a little before noon when we started moving into negative territory. Energy stocks mixed t
Numbers in weak. The stock having one of its worst days in years. Down about 27 , 26 today. This comes as jcpenney fires 2,000 workers and gets set to close 33 stores. The changing face of retail all across the usa. Will malls even exist in 20 years . And the imf chief christine leggard, a major serious warning about deflation. Not inflation. She says it could hit the Global Economy very hard, and central bankers dont really have all that many tools to fight it. Sue, whos always upbeat at the nyse on a bit of a down day. We try to be upbeat. Today down in the dow jones industrial. Checking markets now for you, the dow is down 74 points. At 16,407. The s p down 4 points on the trading day. 184433, last tick there. Nasdaq composite in the green fractionally trying to hold on to a gain. Tenyear note, yield now traded at 2. 84 . Comex gold up 2. 40 and brent crude last trade down a fraction. 107. 10. A big week for the banks. On tuesday, jpmorgan beating the street with q 4 eps 1. 40 versu
Dissembling based entirely on political reasons. Technology is binary, somethings vulnerable or not. This was shown to be vulnerable back in november, its now been further demonstrated, and weve got a lot more testimony, a lot more Expert Opinion on there showing that, in fact, there are some very serious vulnerabilities with healthcare. Gov. Connell all right, tell us a little bit about them as you understand them. As this testimony continues today or throughout the day or after the hearing is over well have a summary of it and find out what they found out. However, you say it was vulnerable, and then as we went on it actually got more vulnerable. Youd think the opposite would be true. In other words, if we saw that a web site, this target storys been in the news and other stories related to it in the news, somethings vulnerable, you fix it and it gets better. Why has that not happened . Um, i dont actually know why its not happened. I can speculate that, you know, as we heard happens