Right now. Good morning. Welcome to Worldwide Exchange. Im sara eisen with dom chu in for wilfred frost today. Good morning. Good morning. Busy already. Already, yes. Monitoring the wires from the uk. Well get you there in a moment. A check on Global Markets after another selloff for wall street. Not so sharp. Not as sharp as session lows. Those stocks look set to bounce back. Dow futures higher by about 16 points. S p is up 2. Nasdaq futures up less than 5 points. The tenyear treasury note yield, saw that yield decline by 7 basis points or so. Bouncing become a bit this morning. 2. 41 is the yield on the tenyear. First we wanted to get you that breaking news out of europe. The Supreme Court in the uk ruling against the government in a key brexit decision. The vote means that Prime Minister may must get parliaments approval in order to trigger brexit. As for the reaction in the british pound against the dollar. Lets show you whats happening you now. It was lower before. Its lower still
Breathing companies, not companies hostage to the overall gloom or the feds onagain, offagain pronouncements. They all combine, and on days like today, the bulls went out. Dow gaining 77 points. S p advancing 0. 47 . Nasdaq climbing 1 . Lets start with the living, breathing companies because thats all people were talking about today, namely the merger between at t and time warner. Ive talked about this deal in more detail, and ill do it again later in the show. But right now, i want to raise a larger point. Jeff bewkes, the terrific, some would say Great American ceo of with wall street for years, claiming his company is worth substantially more than what its stock was selling for. While the stocks been a good one, candidly i thought time warner traded at discount to what it was worth because wall street has such a bias against networks, tv networks, and, yes, movies. The antinetwork bias has to do with timeshifted programming and the endless talk about cord cutting. The Younger Genera
Few moments. The dnc kicks off amid country controversy over leaked emails. The ceo will join us in the next hour first up verizon announcing the deal to acquire yahoo s core business for 4. 8 billion in cash. Verizon plans to combine the internet asset with aol. The Real Estate Holdings in that action. Marissa mayer will join us in a few moments once that Conference Call ends. Wow. This day has been a long time coming, jim. Yeah. And i think that the i remember speaking to Lowell Mcadam many months ago when he said this could happen and a clear vision if you gave it to Tim Armstrong they could make something of it. Im excited. Maybe it will be back like the old days in 98 and 99 when yahoo was the leader or not you mentioned mcadam in february, a reminder of what lowell told jim on mad money. Take a listen. We said we would look at it. I think their board has been very responsible how theyre doing this, very deliberately, very logically and we have to understand the trends that were s
Performance in five weeks. Shanghai composite was down. It was driven by an afternoon sell off in small caps. Weaker than expected trade data added to speculation about more boj stimulus so its not just here where theyre addicted to what the Central Banks were doing. You can see it taking place. Earnings are the name of the game. Well be hearing from boeing, cocacola, kimberlyclark and many others. Stay tuned, buckle your seat belts. Here we go guys. Lam research buying klatencor for 67. 02 in stock. That deal valued at 10. 6 billion. Lam ceo will be joining us tomorrow right here on squawk box. Ferrari set to begin trading today. 52 a share. Thats at the top of the expected range. Fiat chrysler sold about 10 of its stake in the offering. Well have much more on the story from kate kelly and the big political story of the morning, paul ryan is going to run for House Speaker but only among certain conditions and among other things he said he would only take the job if the entire caucus u
Thats where we stand now. It is red across the board. Turn your attention to the far right of the screen. That remains the story. Crude oil down 5 , joe, giving back gains we got last week. Are you sticking to your call that last wednesday, around this very time, was the bottom in stocks and crude . Shortterm bottom, yes. And i am sticking to that. About 1 30 in the morning, a call comes out with news regarding not pulling back on cap ex that sends crude lower. A pullback in oil. I think there is a tradeable rebut coming. I think youre going to have where youve had absolutely no tail winds, the Federal Reserve is going to give some tail winds this week. I think the buybacks returning in early february gives you some tail winds. Were going to get some Companies Reporting here in the next week or so that i like. Kenny, on the floor. Are you a believer . Like joe . Or no . Listen, i am a believer that i dont think its going to completely collapse, but i absolutely think we are going to te