It tougher to prosecute him. Day,l news, 24 hours a powered by over 2400 journalists in 150 bureaus around the world, from the Bloomberg News r. I. M. , i am mark crumpton. Emily i am emily chang, and this is bloomberg west. The fed a great hold steady, what it means for the private market. Is almostoculus rift ready to shift. I speak to the ceo of the most anticipated vr headset. Edison plunging after posting its annual report. We take a close look at what has investors worried. First, to our lead. The u. S. Federal reserve decided not to raise rates, setting a weaker outlook for global growth, as well as turmoil in the market. Techentral banks stocks getting a boost. Heading into the close on the feds decision. Here to look at what that means for the tax sector, i am joined by Ramy Inocencio and our editor. What does this mean for startups . I think Venture Capitalists and the startups are breathing a sigh of relief, now that they dont have to worry about Interest Rates affecting how
We are seeing stocks fall to their lows of the session. Weve seen a sharp gyration during the course of the session thus far. Some of it appears to be driven by oil, perhaps some people paying attention to those comments by robert kaplan. But overall, we are definitely seeing a negative at this point for the major averages. Take a look at the bloomberg here for the groups on the move. Healthcare is the worst performing group. Then theres technology, financials and energy. I should mention amazon is actually in the Consumer Discretionary index in terms of where it is sectorwise, and that index is very slightly higher, so its not grouped with technology in the s p 500. When you look at healthcare and see the big decline, at least some of that is due to gilead. The companys profit missing analyst estimates. It had disappointing sales of its two blockbuster hepatitis c treatments, and so that is whats behind the steep drop were seeing. Then theres a cycle, which is a Health Waste Managemen
Many earnings. We are seeing the nasdaq with the lows of the session with the facebook effect dissipating. It was off slightly lower. All three major averages now the lowest of the session. Unless something really, really dramatic happens in the next 24 hours today we are matching the secondlongest bull run ever for u. S. Stocks. Tomorrow we will have surpassed it and be the secondlongest bull run ever. Here are the longest. The white line is the current run we have had a goes back to march of 2009. Then you have the run in the 50s and you give the run in the 2000s. Those of the various bull markets we have seen. This is the second longest stretch we have gone without a 20 decline or more. Turning to some of the other assets. We saw the movement in the dollar after the bank of japan did not move in terms of adding or stimulus. The dollar going sharply down. It looks even more sharp if you look at what happened versus the yen. If you look at the trade versus the japanese yen, the dollar
Got some Consumer Spending numbers that did not meet estimates. All three major averages near the lows of the session. Amazon in point terms is one of the things that is keeping the s p 500 from falling more after the Company Reported a Record Net Income but the other card stacked against it. Sciences coming out. Apple declining having its worst week since june since 2014. In percentage terms, i want to look at the big tech losers in todays session. You have seagate coming out with numbers that missed estimates. With rivalsng along is numbers suffered from demand from apple iphones. Then we have the Energy Clients easy in todays session. Going into this running season, energy was predicted to be the biggest drag earnings wise and that is proving to be the case. Phillips 66 out with numbers that missed estimates and its pulling down many of the other refiners and is generally seen from the client and energy today. Red on thet of screen for the day. How about for the month . , lets start
Economies theyre watching closely. Well get you the latest from the crown prince and go live to saudi arabia. Perrigo ceo joe papa is out, hes heading to valeant. And surprising sales number from the apple watch on its first birthday. Well break those down and get a preview of apples earnings tomorrow. The three major indices in the green for the month the dow leading the pack up. Saudi arabias cabinet approved a plan laying out economic reform priorities for the next decade and a half aiming to reduce the countrys reliance on oil, a partial ipo of the stateowned oil company is part of that plan. The saudi deputy crown prince expects to be valued at more than 2 trillion. And then they argue by 2020, guys, country will not be as dependent on oil as it is today. I question the whole notion of dependence. Because if you go over the slumberje quarter, talks about how theyre really the only country that has swing capacity. No other country in the world has the ability to put out another 2 M