The day when the dow was down more than 300 points the russell 2000 fairing the worst. Lets go to bob at the New York Stock Exchange remember all this optimism on friday the jobs report helped dispel some of the concerns about recession. Dispel didnt get rid of them. The market started expecting some positive news on trade. We have an escalation of the trade war and thats pressure with the usual names the problem is the markets increasingly coming to believe that a trade deal even an 80 trade deal may be unlikely this year thats a big problem it means potentially lower growth in 2020 it means flat to lower Interest Rates. It means flat to lower oil and it continue emphasize on owning the defensive sectors. Those utilities, those Consumer Staples that have been so much a stand out theis year and so expensive. They are the stand out sectors this year. This narrative means stocks are expensive right now. Number one the Fourth Quarter guidance, if this uncertainty continues is not going to
There are a lot of new people coming on and a lot of people that were there, thinking about past, have stuck around, because they know it is a new day. We have some amazing speakers to discuss the current state of the irs, priorities, the hiring and staffing plans, and what is on their desk. What we can expect in the year or two years to come. Let me get right to introductions. To my right is mary beth murphy, commissioner of Small Business, selfemployed division at the irs, based in washington, d. C. To my left is don fort, chief criminal Investigation Division isthe irs and to my left nina olson, National Taxpayer advocate. Their bios are online. Im going to leave you to review them, but they are amazing individuals. They have done tremendous work on behalf of the taxpayers in this country and it will be a great evening. So let me start by having each of them talk a little bit about the state of the irs in their divisions. Then we will go into some q a and certainly open it up to the
Usmca that might come as a result of these negotiations that can improve the outcome of American Workers im happy to consider. Its important to remember that usmca is better than nafta by nearly every standard, including labor and environment. So i hope discussions between House Democrats and ambassador lighthizer is an exercise in getting to the yes that i feel Speaker Pelosi wants to get to. One particular area where everyone can agree is that enforcement across the board is a key compromise that must be hammered out. Factors outside of farmers hands such as an oversupply of grain in the global market, an unusually wet spring across the midwest, and natural disasters like flooding have all contributed to increased uncertainty and less profitability for farmers and leading to anxiety among those same farmers. Passing the usmc will help alleviate some of that uncertainty and anxiety for the years ahead by providing stable export market for american corn, soybeans, pork and dairy to nam
They proactively announce that theyre going to do so they definitely will its a question of how much and we know from the Bristol Myers celgene deal that they had to invest a monday Bristol Myers announced that theyre divesting want to sell jeans top products to avoid those antitrust issues and the government is taking a more conservative approach so its definitely going to be an issue and its more of the road that up because thats something that were going to look out for. And on this and position will return the company in the u. S. After heading completed its tax inversion deal to ireland in 2015 something weve seen apple do to great effect as well saving the Company Hundreds of millions in taxes and uli this is a good move for elegant. So inversions were a big deal a couple of years ago than the government took measures to make it a little more difficult to do but its definitely go move 1st because of the 45 percent. Up increase they received today on the buyout is but also because
A string of acquisitions for the pharmaceutical industry as they begin consolidating earlier this year Bristol Myers purchased sela jeans for 74000000000. 00 and eli lilly bought locks on college e. For 8000000000 dollars this is not a typical big pharma for the last 3 decades 2 radically different couple spending activities and the neighbors aren t. Have jostled with each other for preeminence brands saunders the current c. E. O. Of allergan and legendary deal maker grew out again when he was named c. E. O. Of forest labs 5 months later he sold for us to act tevez for 25000000000. 00 activists then acquired al again for over 70000000000. 00 and took on its name with more on this transformative acquisition welcome back adam mesh c. E. O. Of the Adam Mesh Trading Group so adam this is certainly a big day for allergen in 2016 allegan had attempted to sell themselves to pfizer in a 160000000000. 00 merger but. That deal ultimately fell through so the question is will this deal close we kn