Hathaway acquiring precision. We knew this. Nfl deal kind of interesting. Yes. Ahead of earning, reports for tomorrow. Al boib. First up Berkshire Hathaway saying it has agreed to acquire precision cast parts. They say the deal has an enterprise value of 37. 02. They say it takes berkshire out of the market when it comes to m a. Well probably be buying a few small things in the next six months. I mean, were in negotiations on a couple but in terms of a deal of similar size, it pretty much takes us out. What well probably do on this one is well probably borrow about 10 billion and use about 23 billion of our cash. Asked about a lot of Different Things. Ibm, hinted hes been buying more. Said kraft unlikely to do a big deal in the next couple of years. I thought there was a lot here. I know the three reasons the market is up. China should have been down a lot. The stock market has disassociated it from the data which is terrible this weekend. Second, when i look at whats happening with ap
Lets get straight to the pound story. We have seen a great deal of volatility which we need to communicate to you. One month volatility getting a sevenweek high. The panel itself hitting a threeweek low. ,his is implied volatility bracing for the Eu Referendum which will take place on june 23. We have had a couple of polls over the weekend that seem to have put some moves into currency markets. 45 leave, 41 remain. Poll, 41 believe, 41 remain. We have to be a bit careful of the polls were the field work was done during periods of school holidays. Thought people who were younger and more affluent could be away during that period. It doesnt change the fact that the currency markets have been reacting to these polls. Lets move on to all risk radar. The nonfarm payrolls number the lowest in almost six years. We have got the Malaysian Ringgit surging the most in nine weeks. A move of more than 1 against the u. S. Dollar. Have the dollar against the chinese currency as well. Jack lew is in c
I will have more on the Market Movers shortly. Angie president she jinping says china and United States should talk more often to build trust. He also said the pacific should not be a battlefield for competing views. We have our china correspondent standing by live. A mainly positive message from the president . Not too much detail, you do not expect too much detail at events like this and opening addresses. The tone, the words about cooperation, greater can medication between the two sides when it comes communication between the two sides when it comes to the issues in the south china sea. A dialing down of some of the bellicose rhetoric you hear in some of the state media. It comes after some close calls jetsy between two chinese that intercepted a u. S. Spy plane. Building a great wall of isolation. President xi thanked peace and said peace the vast pacific should be a stage for inclusive cooperation, not an arena for competition. John kerry also addressed some of the key political
You probably know has experienced an unexpected dip of late. One issue sure to come up is the uk referendum later this week whether that country should leave the European Union. That vote happens thursday, ending a Bitter Campaign between the leave and the remain camps. But today u. S. Investors voted to stay in stocks, that is. The Dow Jones Industrial average rose 129 points to 17,804. Nasdaq added 36. The s p 500 was up 12. Bob pisani has more. Reporter its going to be a busy week capped off by the brexit vote in the uk. Brexit has traders confused. Its gotten more xlakted than stay in or out of the European Union . Markets seemed to move toward the idea the uk would exit the European Union and stocks were down. The greatest surprise then would have been if the vote was to stay in the eu, markets would have rallied. Thats reversed, the market has rallied on the belief is uk is likely to remain in the eu and its likely at least part of the rally we had if the uk had stayed in the Eur
Testimony. The focus, the economy, which as you probably know has experienced an unexpected dip of late. One issue sure to come up is the uk referendum later this week whether that country should leave the European Union. That vote happens thursday, ending a Bitter Campaign between the leave and the remain camps. But today u. S. Investors voted to stay in stocks, that is. The Dow Jones Industrial average rose 129 points to 17,804. Nasdaq added 36. The s p 500 was up 12. Bob pisani has more. Reporter its going to be a busy week capped off by the brexit vote in the uk. Brexit has traders confused. Its gotten more xlakted than stay in or out of the European Union . Markets seemed to move toward the idea the uk would exit the European Union and stocks were down. The greatest surprise then would have been if the vote was to stay in the eu, markets would have rallied. Thats reversed, the market has rallied on the belief is uk is likely to remain in the eu and its likely at least part of the