In a down market, the company priced overnight at the high end of the range had been looking for between 20 and 29 a share, 26 and 29, priced at 29, raising 1. 1 billion, making it the seventh overall biggest deal this year to go public it has been a rough and tumble ride for unicorn brand name ipos, the Ride Hailing Companies lyft and uber struggled, lyft having seen a new low just yesterday. Slack also having seen a new low yesterday. Smile direct that went public two weeks ago seeing a new low, down 38 from its debut. Among the only ones of the big stellar names thats higher from its ipo is pinterest that one is up 45 the market continues to be ver cautious on these deals as they go forward the price at the top is certainly encouraging for the company and for the nasdaq which has seen a large number of ipos this year, some 50 ipos, raised more money initially than we have seen from the deals that they saw last year nonetheless, still one of those things people are watching as we see
S p off by almost five and nasdaq down by 24. You see President Trump calling out china and a little afternoon, word about nancy pelosi announcing an impeachment announcement, then President Trump saying hell release the full transcript. This is just the volatility we saw. Definitely wall street watching washington to see what news comes next weworks cofounder adam neumann is stepping down as ceo. The starrup once valued at 47 billion has shrunk in a matter of weeks he said, quote, i am so proud of this team and our company. Our business has never been stronger in the recent weeks, the scrutiny towards me has become a distraction. I have decided it is in the best interest of the company that i step down as executive each will have three votes down from 20. Weworks former copresident and vice chairman have been named coceos of the company the Parent Company, we, could layoff 4,000 to 5,000 in response to this there may be a search attempt for a new ceo. They named two and said they were
Happen sooner than anyone thinks. Progress on a deal with japan. A limited agreement signed after washington withdrew the threat of imminent auto tariffs. The threat of impeachment hangs over the president. He releases the ukraine transcript which you thought had been cleared by the mueller report. Be hearing from plenty of big names from the Bloomberg Global Business Forum including michael corbat, steve schwarzman, and colombian president. Lets get a check of how markets are trading at the moment. We are seeing futures gaining. 3 after they had fallen towards that 56 a barrel level. We heard from saudi arabia that they are going to be ahead of schedule. The drone attacks on saudi arabia and facilities taking out 5 of global supply. We are seeing futures unchanged at the moment after the s p 500 ,ained ground on this session halting three sessions of declines. We saw optimism over trade deals. President trump being more positive over eight potential a potential trade deal with china,
Asia a new benchmark lending rate, 4. 25 down from 4. 31 that help stocks early in trading and the hang seng and shanghai gave up those gains. Hang seng down by a quarter of a percentage point stocks in japan were higher. The nikkei closed up by just over half a percent. In europe with the early trading taking place youre going to see that at least the three major averages are in the green right now. Germany just barely. Its just above the flat line but the cac is up by a quarter of a percent stocks are weaker in italy and spain and then if you check out the treasury yields here in the United States, this again is what the market has been watching so closely. Those yields lower today the ten year note sitting just below 1. 6 the two year at 1. 518 and the 30 year bond is above 2 but just barely 2. 04 . Home depot reporting 317 a share. Thats above 308 thats what the consensus is however the revenue indicated 30. 984 and its at 30. 8. So the stock is indicated at this point down a littl
Stoxx 600 is negative now, down by less than 2 10 of 1 . The pound is moving relatively aggressively on a number of different things. Theres a reuters report talking about a regime that would allow the continuity of the good friday agreement for the irish border. Emmanuel macron talked about an intelligent solution to the brexit impasse. All of these factors helping the pound get a lift today. I think positioning is also a factor in this. The italian 10 year not budging that much, but keep an eye on it. Reportsla, the suggest, wants a coalition formed by the end of today. Salvini is about to go see the italian president. Vonnie the u. S. Economy does not need lower rates according to Kansas City Fed president Esther George. She spoke with bloombergs Michael Mckee in jackson hole, wyoming. Have a listen. Theer as i look at where economy is, im not ready to begin to provide more accommodation to the economy outlook thats adjusts the economy is getting weaker. Vonnie we are joined now by