Session, not necessarily getting worse. We want to go to global exchange. We are going to bring you todays market moving news from all around the world, from hong kong to riyadh and london, to new delhi, washington and new york. We want to begin with the markets, the overarching story of that russian to safety. Lowestfalling to the since 2016. Joining me is bloombergs dani burger. Walk us through some of the big ones. Dani today is really a day of superlatives. 2016,the lowest since gold jumping to a 2013 hi. 2013 high. As evercore strategists put this, we are in a new phase of the coronavirus outbreak. That is going to give us this kneejerk, gut punch reaction in market. Credit default swaps in europe jumping the most in two years. When you look at both of those see thestoxx 600, you ftse made down, and europe has become the epicenter of the outbreak. That means markets are already very sensitive. These are high beta markets as they stand because of the economic weakness. A lot of wha
Returning money back to investors. Whats behind it and what it means for the Hedge Fund World the Investment Committee is ready to go. Halftime report starts right now. Good to have you with us. Our Investment Committee in front of you right there, joe terra nova and pete that jdiana becky quick reporting it could come as early as today, 5trillion did assets under management best day since 08 Charles Schwab for its best day since november of 2011 a lot to talk about here. The potential synergies are all about costs. If you think about it, Td Ameritrade has been this serial acquirer over the last couple of years and have been able to with scott trade have cost synergies and in terms of reduction of 60 to 70 i dont think youll have that type of Cost Reduction here with Charles Schwab i think it will be somewhere around 40 to 50 in terms of cost synergies but a strong dea for them specifically. Obviously very negative for etrade. I had talked about a couple of weeks back that etrade poten
Coming up later on the program prepares to mark the 25th anniversary of black wednesday. That is Norman Lamont at 9 30. Lets get straight to your data check. Quite a lot going on in the markets. We are seeing a little bit of risk off. Stocks are mixed in europe. Edging lower and then going higher. What investors are nervous about is north koreas latest Missile Launch, raising geopolitical risks. Gold and yen showing markets are becoming immune to the provocation and diplomatic reaction. There is not much of an impact on yen. We are seeing pound, the 25th anniversary of, of course, what we saw in 1. 34w31. There is a little bit of movement on treasury. Lets get straight to the bloomberg first word news. Sebastian President Trump says he likes and respects janet yellen not made a decision on whether he will re nominate the Federal Reserve chair for another term. Treasury secretary Steven Mnuchin sets janet yellen is among those being considered to run the central bank. In the u. K. That
Cheese burger in paradise heaven on earth ho hum another month, another new high for your money. The slow meltup marching on. The nasdaq looking at that hitting a new high. The oil and Energy Stocks all the Big Eight Oil names, exxons, chef rons are higher. On the other side of the trade, yeah some of the real estate stocks are lagging, but overrule a good day. What individual names are making investors money today . The casino stocks. Look at that. Las vegas sands are up big on some big numbers from chinas ma cow. Bikky . Good afternoon im becky quick. Here is what else is happening at this hour. A government watchdog said that medicaid was overcharged for epipen from 2006 to 2016. That is far more than the amount mylan agreed to pay the settle overcharging allegations. Construction spending posting its biggest drop in a year in april. A sharp upward division pointing to underlying string. Illinois Credit Rating getting closer to junk. Its debt downgraded after lawmakers failed to app
Investments, as well great to have you all here get to you in a second but i want to start with you, lee, if i could. Why are you speaking out its a good question. I dont have any dog in this fight. I retired from the board five years ago. I made a mistake i gave all my stock to charity i should have given cash, because the stock has almost tripled in the five years that im off the board. But i feel and i have, like i said, in dog in the fight. And i know and respect bill ackman so its difficult for me but notwithstanding, i consider his behavior to be, in this instance, somewhere between foolish, inappropriate, and irresponsible. And i feel its my job to speak out and speak my view. What was your reaction, though, when you sort of first found out that he was i was somewhat incredulous. Let me explain, basically. Ben graham wrote a book, i think in the mid50s called the Intelligent Investor and he pottsized in that book that an an analyst evaluates management twice in the decisionmakin