There are some things going on outside the market. Good morning. Emma the Trump Administration is opening the door to more oil drilling in atlantic waters. The president awarded the interior department to auction oil and gas rights off the east coast. President obama had ruled out using that territory. Police say it would be a suicide bomber who chose to explode a bomb in a subway station because of the christmas theme. He is described as a 27 euros m a great from bangladesh. He told police he was a follower of isis. The u. K. Once a trade relationship to eat you identical to the one now. The International Trade secretary said that would ensure a smooth transition. They already have harmonization with the eu. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries, this is bloomberg. Alix i want a Million Dollars for christmas. David thats unrealistic. Thats a really good deal. We will have all of the obligations and no say in the eu. Fo
Bob iger is about to join us as disney buys a big chunk of 21st century fox. Retail sales up 0. 8. But we know what the lead is today. Yep, we finally got the deal weve been talking about now for more than a month, of course disney buying those fox assets that weve detailed time and again over this last, lets call it, five weeks or so since we first brought the story to you of the talks between the two it is a large deal, to say the least. Depends on how you want to value the equity right now, at current prices, and if you take into the considerations that minority interests, its about 55 billion in equity. Some 515 million shares of disney will be exchanged for the fox businesses that are going to be sold to disney. Were talking about a deal with an enterprise value of 69 billion. Theyll take on 14 billion worth of debt. Tax liability which i finally got clarity on, 8. 5 billion to fox. That is the spinco, could come down as a result of tax reform, the lower tax rate and that will hav
The german dax is down about 10 and so is our s p 500, the 10yr note yield, thats a cheap culprit. Rates have been backup yesterday. We are right around 2. 84 it is the expectations of higher rates to a certain extent. The prospect of inflation has caught the attention of investor over the last tentrading days and resulted in a significant decline for the s p 500. Lets ged t to our road map this morning. The dow facing its worst week and s p 500 worst week since 2011 you just saw stock futures are pointing to a rebound. It would be the largest tech opposition until it is or it is not. Qualcomm officially rejects broadcoms buy offer theyre going to meet. Jim and i will have the details. And Winter Olympics. Carl is going to sit down the comcast ceo, Brian Roberts later this hour. Wall street has never been happy it is a friday bracing of what could be a volatile session the dow and s p 500 are in correction territory that means they reached down 10 from todays highs in late january when
Ever. Really big deal. Welcome to bloomberg daybreak. Happy monday after the super bowl. Alix did you watch . Bed. i have to go to i thought it was one of the best, most exciting games. Alix what was the best part . David the end of first half when they hiked it back. In therew it to foles touchdown. Alix what happened to tom brady . David he will come back. He is a great player. Game. As not his best he played really well. 505 passing game. Alix in the market we are looking at a selloff continuing. Dow jones futures are up 223 points. S p futures tried to climb to positive territory and now we back we are down yields unchanged but 2. 84 is where we are on the 10year yield. Cruise gets hit again, down. 6 . Broadcom is raising its operative to qualcomm. Supporting a market that just keeps getting hammered. David there just wasnt enough money and they managed to get it. Well talk more about that. It is time for the morning brief. Jerome powell takes the old draghi meetsmario right now it
Category 5 storm still lets move on to another update for those of you in florida. Added to the hurricane watch what this means is hurricane conditions could move into your area within the next 48 hours. A lot of you are preparing right now. If you havent started, this is the time to do so. Again, as of noon we are adding to the hurricane watch there has been some updates to the track. Not much slightly off to the east but still the cone of uncertainty through the entire state of florida. I dont want you to focus on track. I want to show you why because if youre anywhere in florida, youre saying, oh, you know, i dont see the ocean, you could still be impacted by the storm with tropical force storm winds. Check this out lets say Hurricane Irma does not make landfall but scoots along the coast, still, Tropical Storm winds could extend 185 miles across that would take up the entire state of florida Everyone Needs to make sure theyre taking the proper precaution and keep an eye on this wel