Market closes lower after fed minutes hit wall street. Bob pisani here with all this action. Not the market doesnt know the fed is going to taper at some point, bob, any time its faced with that reality, we see sellers come out of the woodwork. Yeah. Were parsing every comment and cynical in here. You could prove almost anything reading these minutes. Heres the sense, let me put it up for you, that got people talking. Participants considered scenarios under which it might be appropriate to begin to wind down the program before an unambiguous further improvement in the outlook was apparent. Some people were talking about tapering sooner rather than later. I think thats the key sentence in the whole record. The tenyear, which had been moving up prior to this announcement, moved up even further. We were at 2. 71 at the start of the day. Closing right near 2. 8 . The dow drop the a little more than 100 points but ended off its lows. Still a decline on the day. Not surprisingly, Interest Ra
The s p 500 after earnings confirm the Company Continues to bring in huge sums of money but has razorthin profits. Is the street sending a message here to Ceo Jeff Bezos that its time to turn the spigots on and make some real money . If theres trouble at home, is there trouble for the entire economy . Mortgage lending plunging, even though we have become the spring housing season and rates e re main historically low at about 4. 5 . If the housing recovery stalls, what does that mean about the broader economic recovery . Well have a special report later on the closing bell. In the markets, how were shaping up on the last trading session of the week, the Dow Jones Industrial average down triple digits, 147 points at this hour heading for the second down week in three weeks. The s p 500 right now in the red, declines of almost 2 , that was the nasdaq, 1 on the s p 500, the nasdaq behind the three, pressure on amazon and technology stocks. The nasdaq down 74 points p with an hour to go, ty
Picture. Analysts are forecasting for this quarter, thats going to be weak Revenue Growth. While we are seeing a reacceleration in gdp growth, that hasnt translated into higher Sales Estimates for this quarter. For q4, Thompson Reuters is estimating a. 4 jump in sales versus 3. 4 that we saw last quarter. Europe will also be in the spotlight this season. Analysts are betting that tech will benefit from the ongoing recovery in europe. Tech companies that have exposure to europe include harmon international, Electronics Arts and priceline. Last quarter, priceline saw an uptick in european sales. Analysts say the European Online travel market could offer considerable Growth Opportunities for priceline and the broader online traffic market, travel market, excuse me, going forward. When it comes to emerging markets, experts have a mixed opinion on business conditions. Last quarter, young brands and nike were cautious on china while General Mills saw strength on its earnings call. Management
Continues. Bayer will buy america consumer over the counter business for 14. 2 billion. Also the two companies are establishing a have a teemgic collaboration in cardiovascular diseases. And this will vowill involve me paying 2 billion to bayer. But again, the big headline here is the 14. 2 billion deal for mercks over the counter consumer business. Why is there so much deal making going on in pharmaceuticals . This has been incredible. Weve seen a swap from glaxo and novartis. This is a way for companies to hone in on what theyre good at. Were hearing a lot of pharmaceutical companies saying they need scale, they need to cut costs and they want to be number one or two in positions where theyre playing. So areas where theyre a little bit smaller, were seeing these asset swaps. And now of course this is all set against the backdrop of pfizer making its 106 billion bid for astrazeneca which is eclipsing Everything Else going on in the industry. But this is a big deal for merck and one it
In the last hour certainly having pretty good impact. Were looking for solutions to the obama care met. Tenet health care ceo Trevor Fetter is with us on how the bumpy rollout has impacted his company. Also muni bonds, Everybody Loves them, theyre safe and boring, right . Well, not so fast. Millions of investors are in these because many times the income is taxfree and its believed these bonds that are linked to cities and municipalities are a lot less volatile than stocks. But are there new danger signs of anyone who owns them or thinking about owning them, need to know about . Well take a closer look at munis coming up. The Dow Jones Industrial average near the lows of the day with a decline of 58 points. Pretty steady until the minutes came out. As can you see what happened, as soon as those minutes came out at 2 p. M. Eastern time today. Nasdaq composite under selling pressure today. Take a look at down about seven points on the nasdaq. Fractional move there. Again, very similar ch