The nasdaq is dticking ever so slightly in the green. Down just a tenth of 1 in the s p, 4504 was the last trade there. This is an interesting move only because there might have been folks who believe it could have been the precipitating factor for something much worse, even so today josh, it didnt look like it was going to be massively down but did accelerate into the close. Okay, were down, but whats down the most . It tended to be the stocks up the most on the year he was on with you yesterday and calling it an upsidedown day. Some call it an insideout day it was counter trend you had stocks, the top 20 performers in the market up an average of 23 you also saw a lot of pain in higher yielding stocks, equities, that makes sense a higher yielding bond, long bond i think were probably just catching our breath. I dont think anyone wants to make a big commitment to one side of the market or the other ahead of apple even if its a boring report, it will speak volumes how august progresses
Exchange. David faber is in los angeles. More from david in a moment. Meanwhile premarket steady ahead of busy week of earnings. Nikkei takes a spill overnight catching up to the yen and Oil Steady Near 46. Our road map begins with Warren Buffett speaking out in omaha. Were going to bring you highlights, no deal for halliburton and hughes calling off their 28 billion merger. And simon hobbs live from cuba on a Carnival Cruise ship. First up buffett weighing in on the markets, fed and earlier this morning on cnbc. This is what he told becky about the president ial election and the economy. If you ask me whether electing the wrong president can permanently damage the u. S. Economy, the answer is no. I mean, weve had 44 president s so far. This country will move forward regardless. And theres no need to make America Great again. America is greater than its ever been at this point, but its going to become ever greater. Talked about koch, talked about ibm, talked about jeff bezos, called hi
Stuart look at the big board, the dow is up. I wont call this a rally but it is again close to an intraday high, awfully close to 17,100. How about that. Stock of the day, time warner, look at it. 21st century fox makes a bid for the company, time warner turned down by the door is open. We should mention 21st century fox owns this network. Mary kissel is here to pass judgment on this titanic development. In my opinion a couple of issues here. Content is king, time warner is king of content. There is a migration, television to online. This is all part of that. It is just great more broadly speaking susie animal spirits in this economy. 2 growth, nice to see Companies Bidding for one another even if it doesnt work out but you are right. Content is king whether it is comcast, time warner, dish, spectrum, verizon, the tv deal they did absolutely is very valuable. Stuart i dont think it will make a difference to what our viewers see in the immediate future or where they see it but look down
We were down three out of the last four days. Going away. Isnt it tuesday, or wednesday already . This is tuesday. Actually an update. A down day so far. Were off the lows of the session right now, but this could be nothing if you believe david leonard, and he says its overvaluations from the market and the headline in his column use the word bubble, and it lays out why stocks are expensive once again and david will join us to make his case on that. Yes. That is coming up. One stock that isnt nearly as expensive as it was at the end of the year is twitter. Its getting hammered today, down more than 10 . Just a few months ago, again, trading above 70 a share. Now around 32 and sinking 16 today, so what is going on with twitter. The lockup ended. Yes, indeed. Well find out for you. Talk a little bit more about who the sellers are and if theres any more value. We have a fleury of major earnings coming out in about an hour that could move the markets for tomorrow. Disney is the biggest of
Havent seen inflation. Because investors have spent so much time tapering, investors are interested in bond yield. If youve been watching the tenyear, right now the yield is at 2. 827 . Also, october wholesale trade and the labor departments latest job openings and latest Turnover Survey that a lot of economists watch closely. Futures at this hour are indicated higher, dow up by just about 20 points, s p up over 2. 5 points. And a big call today on Deutsche Bank. The firm says that a horde of pent up cash means that the stock partys punch bowl isnt running drooi dy anytime soon. Deutsche points out shored up cash is likely to make its way into equities in the next month. Andrew, good morning. Good morning to you, becky quick. Thank you very much. We have Corporate News for you this morning, as well, as joe was just mentioned. The u. S. Government is now officially out of gm. Theyve sold their last shares of general motors. Tack payer res taking a welcomed 10 billion loss into the autom