Nasdaq up 0. 11 . Theres something important we need to know right here and right now. We have to think about, do activist investors help create wealth or do they destroy it are they a force for good for you or force for bad these are the questions we need to grapple with given that just this morning Procter Gamble narrowly defeated an attempt by nelson peltz to get a board seat putting an end to a bitter proxy fight that weve all been involved with and talked about here now, look. This is very much case by case thing. There are some scorch earth activists who specialize in creating ill will. Nothing else i think those days are largely behind us. At least when it comes to smart activists who know what theyre doing. Let me lay out some individual examples to show you what i mean about this Important Group of investors and what they mean for your pocketbook. Lets start with Procter Gamble, the gigantic Consumer Products company make no mistake, this is a Great American enterprise. Procte
Is. Our objective is to get it on the president s desk by december to get him to sign it this year. Well work on this as fast as we can but theres no artificial deadline. As i said all along, this is a pass fail exercise and weve got to get it done to create Economic Growth and create a competitive business system. Maria the optimism hitting 23,000 yesterday for the first time. Indicating another rally at the start of trading this morning. The market will not quit. Update quarter of a percent of the market. Take a look at the indices look like this bird once again come to europe a cue from the u. S. Caci pass a percent. Dax in germany up two thirds of a percent. Asia overnight markets mostly higher as well. China the country kicking off its 19th National Congress of the communist party. A major impact on everything from u. S. Policy to chinas approach to north korea as it shapes the leadership for at least the next five years. Ibm does by reporting its 22nd order of declining revenue.
Good evening. And a very busy monday night. We begin tonight with the first indictments from the special council, Robert Mueller, in his investigation into possible collusion between the Trump Campaign and russia. Two former members of the Trump Campaign under house arrest at this hour. Former Trump Campaign chairman Paul Manafort today pleading not guilty after that 12count indictment. Manafort helped orchestrate Donald Trumps convention. And his associate and former Campaign Aide rick gates also indicted, also pleading not guilty today. And tonight, a third man, an adviser to the campaign, this time, though, pleading guilty, and now, cooperating with the fbi. Abcs senior justice correspondent Pierre Thomas tonight leading us off. Mr. Manafort, did you commit a crime . Reporter on a blustery morning in washington, former Trump Campaign chairman Paul Manafort today surrendering to authorities at an fbi field office. Did you collude with russians . Reporter at the same time, his former
City from palmyra cove nature park, courtesy of our live neighborhood network. It is a frigid start to your saturday morning, indeed. We have freeze warnings in place from philadelphia down into south jersey and delaware , the reason we dont have freeze warnings for remainder of the delaware and lehigh valleys because growing season has come to an end in those locations and with this freeze, growth season will come to an end in south jersey , delaware as well as the philadelphia Area Temperatures right now in the 20s, and teens out there, 24 in philadelphia. Twenty in allentown. Twentytwo in trenton. We have 13, that is temperature in mount pocono and 18 in lancaster. Forget about those numbers for a minute because this is what it actually feels like, when you factor in that combination of the cold temperatures, and also the winds, right now that wind coming from the northwest at five to 10 miles an hour making it feel more like 14 right here in philadelphia. 5 degrees in mount pocono.
Taking your cue from a mistake in action can be a big mistake dow sank 138 points. Dow went down, and nasdaq went down i see stupid thing all over the place. Im urging you not to jump to any conclusions based on the tape remember, the big money measure control the daytoday gyrations in stocks, get things wrong all the time back in january of 2016 the price of oil plummeted to 26 a vale schlumberjay saw its stock had 61 bucks today with the price of oil is more than double tan it was back then, schlumberjay plummeted to 61 bucks someone sent me a tweet asking what to do with the stock of schlumberjay i said if it goes below 60 its probably worth buying because its ridiculous for this stock to be this cheap versus the price of crude right now the price of crude is 55 schlumberjay shouldnt be trading where it was back wen crude was at 6 i could be wrong but then again, you ever think the stock was wrong. I know people who thought it was bounce right back. The ceo of schlumberjay was not o