130 points 17,290. It is headed for its longest slide since 2011. Declines in energy and Biotech Companies related as well. This coming on the heels of a solid july employment report. Same story for the s p 500. The broader decline is led by energy and material shares. Oil is headed for a six week of losses on speculation the supply glut will continue. Nymex crude down 1 1. 25 44. 11. Brent crude also down 1. 25 . Gold futures are up. 3 . Betty brent below 50 all week. A check on bond markets, you can see after the jobs report this morning which kind of undershot estimates still Strong Enough though for estimatesfor investors to believe that the fed will raise rates. The twoyear is higher but on the longer and we see the yield coming down. In the currency market, it is again a story for the dollar. A fourmonth high. After that jobs report, the dollar shot up. A pretty big spike, but since it is come down. Now trading just a bit lower. Still hovering at this fourmonth high. Lets get a l
Our road map begins with a 20 billion deal. Freeport mcmoran getting into the Energy Business making two acquisitions. Plains exploration and mcmoran exploration. Concerns over the u. S. Economy as adp misses estimates. The blame goes to superstorm sandy. Goldman says the party is officially over for gold. Starbucks at an investors conference will add 1,500 stores in the u. S. Over the next five years. Wait until you hear what they said about china. A big day in media. Pandora ceo joins us live later this morning as the stock fell nearly 20 on weak guidance and netflix signs a big exclusive with disney. How much are they having to pay up for that . Lets deal with this big deal. As ive been telling you well see a lot of big deals i was wrong. Here we are. Freeport mcmoran buying not one but two companies. The combined price if you add it all together gets close to 20 billion. That does include debt. Lets go through some of the details. Its somewhat complex. Lets start with bigger of the
The precious metal bouncing back into the green. It does touch one month lows in trading but todays game was not enough to make of earlier losses gold finishing the week 1 lower. It is still just above 1700, 1,705. 70 for one ounce. Technology worst performing sector. Many social media stocks of bucking that trend. Yelp, facebook, zynga and groupon up 23 . Dave facebook pushing close to 30. A lot of people happy about that. Michigan lawmakers passing right to work bills despite protests. A longtime supporter of right to work was, Michigan State senator is here with the inside story behind the move that took a lot of folks by surprise. Right to work in michigan, the home of the united autoworkers. The stakes are changing. We will talk to him coming the. Oppenheimer fund economist Brian Leverett on the 6040 portfolio. He says it will bring you profits beyond the fiscal cliff. Dave an exciting our coming up. We will tell you what drove the markets today with todays data download. Of next
The Supreme Court is taking a pass on hearing a case collection the nsa of american phone records. The court rejected an activist position to bypass the at traditional appeals process. Any changes to the nsa Surveillance Program have to go through congress. Twitter is diving deeper into android. The company which was launched in october makes an app that allows Android Users to create customizable screens on their devices on the cover team says it plans to produce something even better. Dropbox has obtained a edit facility of more than 500 million. The Financial Times says the Storage Company will use the money to set up a data center and expand globally. Dropbox earlier rates free hundred 50 million earlier this year. Cory johnson is with me now talking about yahoo and the fight to dominate content. Yahoo wants to buy original series . Its amazing how Many Companies we see who have the same interest in infrastructure. Looking at original content to try to drive people to their sites f
Sole ceo. He helped develop the sap flagship platform and was a member of the executive board. Two other executives have been named to replace him on the board. Twitter is teaming up with amazon to offer shopping by. Hashtag. Customers can add those items to their amazon shopping cart. A user will have to go to amazon to get the purchase and twitter has been looking for ways to boost revenue. Google is expanding its google shopping express service to manhattan and west l. A. It started testing out the same Day Delivery Service in San Francisco last year and it will develop develop deliver products from a number of outlets. Resignedof target has after that massive data breach. Fel steps downnhof and Jack Mulligan will be interim ceo. The changes come about five months after hackers broke into the target system gaining access to personal information of millions of customers and a comes about two months after a Bloomberg Businessweek report found that target ignored warnings about the hac